The Ministry of Industry and Advanced Technology (MoIAT) partners with Emirates Development Bank (EDB) to provide AED 370 million for the AI Innovation Program, announced during the Make it in the Emirates (MIITE) Forum.
The program aims to enhance innovation, technology adoption, and industrial development, aligning with both entities' economic growth agendas.
The AI Innovation Program fosters collaboration between industry leaders and tech developers to tackle national industrial challenges using AI. It provides a platform for startups to showcase expertise, facilitating access to finance. Participants gain free access to a diverse tech network, expediting custom AI solutions, and positioning the UAE competitively.
Sarah Al Amiri, UAE's Minister of State for Public Education and Advanced Technology, emphasizes the nation's dedication to leading in Advanced Technology and AI. The AI Innovation Program aims to integrate cutting-edge solutions into industries, fostering collaboration between developers, startups, and industrial partners for enhanced efficiency and productivity.
Emirates Development Bank's CEO, Ahmed Mohamed Al Naqbi, highlighted the transformative potential of the AI Innovation Program, aiming to bolster industrial sectors. With a $100 million AI financing initiative, EDB aims to drive economic growth, innovation, and sustainability in line with UAE's industrial strategy and national objectives.
News Source: Emirates News Agency
