The UAE's commitment to advancing artificial intelligence (AI) took a significant leap forward with the announcement of the inaugural AI Challenge, a collaboration between the UAE's Artificial Intelligence, Digital Economy and Remote Work Applications Office, Mastercard Centre for Advanced AI and Cyber Technology in Dubai, and First Abu Dhabi Bank (FAB).
Aligned with the UAE Strategy for Artificial Intelligence, the challenge aims to bolster the nation's AI ecosystem by nurturing innovative solutions and cultivating talent.
Saqr Binghalib, Executive Director of the UAE's AI Office, highlighted the initiative's role in attracting top talent and fostering a dynamic environment for technological progress.
J.K. Khalil of Mastercard emphasized AI's transformative potential across sectors like finance and business, underscoring the company's dedication to leveraging AI for positive change.
The AI Challenge invites seed and Series A startups to propose AI-driven solutions in areas such as cybersecurity, fintech, and productivity enhancement. Finalists will compete for a US$150,000 cash prize, access to Mastercard's global resources, and enrollment in its acclaimed startup programme, Start Path.
Registration is open until August 25, 2024, with the competition culminating in a pitch day where finalists will present their ideas to a panel of experts.
This initiative builds on Mastercard's ongoing collaboration with UAE authorities to bolster AI capabilities and marks a significant step towards cementing the UAE's position as a leader in AI innovation.
News Source: Emirates News Agency
