UAE government partners with Mastercard to accelerate adoption of AI

The UAE’s Artificial intelligence, Digital Economy and Remote Work Applications Office has announced a new partnership with Mastercard, designed to accelerate the adoption of AI.

The two parties revealed that they have signed a Memorandum of Understanding (MoU) to increase AI capabilities and readiness in the region, with Artificial Intelligence (AI) playing an increasingly transformational role across society.

The effort is set to initially focus on combating financial crime across the region, securing the digital ecosystem and driving inclusive growth in the UAE and beyond.

Ajay Bhalla, president, Cyber & Intelligence at Mastercard, said: “AI plays a critical role in our operations, powering our products and fuelling our network intelligence to improve digital experiences, while reducing financial fraud and risk.

“The combination of this latest Advanced AI Centre and our partnership with the Government of the UAE will deliver greater value for our customers and ultimately reinforce trust in the digital ecosystem.”

The signing of this partnership comes as Mastercard unveiled its latest global Centre for Advanced AI and Cyber Technology in Dubai.

In addition to developing AI-powered solutions to fight financial crime, the Centre will focus on securing the digital ecosystem and driving inclusive growth, and also serve as a hub to nurture and hire local AI talent, including data engineers and data scientists, with a remit to accelerate AI innovation globally and service customers all around the world from the UAE.

Dimitrios Dosis, president of Eastern Europe, Middle East and Africa, Mastercard, said: “The UAE is a global leader in developing innovative emerging technologies to foster economic growth and drive digital transformation.

“For more than 35 years, Mastercard has invested in the UAE to harness the power of technology for the good of the nation. By embracing the power of AI, we usher in the next generation of transformative technology and support the National Artificial Intelligence Strategy 2031.”

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.