Science & Technology

UAE Partners With Mastercard to Accelerate AI Adoption

Mastercard has established a global centre for advanced AI and cyber technology in Dubai, UAE to realize the aspirations outlined in the UAE Strategy for Artificial Intelligence 2031.

UAE Partners With Mastercard to Accelerate AI Adoption

The UAE’s Artificial Intelligence, Digital Economy and Remote Work Applications Office has signed a Memorandum of Understanding with Mastercard to increase regional AI capabilities.

Initially, the collaboration will focus on battling financial crime, securing the digital ecosystem, and driving inclusive growth in the UAE and beyond.

The UAE government views AI adoption as a crucial component of the nation’s journey towards digital advancement and prosperity. Therefore, local authorities have formed a range of strategic partnerships with the private sector to enhance technology development and implementation.

Besides that, Dubai International Financial Centre has recently announced it was going to issue artificial intelligence (AI) and Web3 licenses at a 90% subsidy with a vision to become the largest cluster of AI & Web3 companies in the region, attracting over $300M in capital and creating 3,000 jobs by 2028.

The new partnership with Mastercard aims to consolidate the UAE’s position as a leading hub for Artificial Intelligence. H.E. Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications emphasized Mastercard’s efforts in adopting AI at the inauguration ceremony launching Mastercard Global Centre for Advanced AI and Cyber Technology in Dubai, UAE.

The Centre aims to serve as a hub for local AI talent, including data engineers and data scientists, striving to accelerate AI innovation globally and serve customers all around the world from the UAE. In addition, the new establishment will support the Innovation Hub in the Emirate of Dubai where governments and businesses from across the region collaborate to support the continued digital transformation.

“The UAE is a global leader in developing innovative technologies to foster economic growth and drive digital transformation. For more than 35 years, Mastercard has been investing in the UAE to harness the power of technology for the good of the nation. By embracing the power of AI through this new partnership, we are ushering in the next generation of transformative technology, and actively supporting the National Artificial Intelligence Strategy 2031,” said Dimitrios Dosis, president, Eastern Europe, Middle East and Africa, Mastercard.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.