Ministry of Industry and Advanced Technology Announces AED 370 Million AI Innovation Program
The Ministry of Industry and Advanced Technology (MoIAT) has partnered with Emirates Development Bank (EDB) to launch a new AI Innovation Program with a funding of AED 370 million. This program aims to boost innovation, accelerate the adoption of advanced technologies in industry, and create new industries underpinned by cutting-edge technologies.
The announcement was made during the third edition of the Make it in the Emirates (MIITE) Forum, held in Abu Dhabi. The program aligns with MoIAT's efforts to promote technology transformation and EDB's development mandate focused on advancing economic growth and industrial innovation.
Foster collaboration between industry players and technology developers to address industrial challenges using AI.
Create opportunities for local and global technology developers and startups to showcase their expertise and contribute to solving industrial challenges.
Enhance efficiency, productivity, and sustainability across industries.
Facilitate access to finance for driving industrial transformation.
Participants gain access to a diverse network of technology developers at no cost.
Enables knowledge sharing and removes financial barriers for developing and implementing customized AI solutions.
Supports the development of cutting-edge technologies and novel solutions for the UAE's industrial challenges.
Positions the UAE as a competitive player in the technology development space.
Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, emphasizes the UAE's commitment to pioneering policies and programs for integrating AI solutions in industry.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, highlights the program's potential to transform manufacturing and specialized industries.
The AI Innovation Program is a significant step towards advancing the UAE's industrial sector and achieving its national objectives for sustainable development and a circular economy. By harnessing the power of AI and fostering collaboration, the program aims to unlock new opportunities for growth, innovation, and sustainable development across key sectors.