Sunday, August 19 2018

July 27, 2018

Invest India and UAE Ministry sign MoU for technological cooperation

New Delhi-Invest India and the UAE Minister for Artificial Intelligence signed a Memorandum of Understanding for India – UAE Artificial Intelligence Bridge in New Delhi. This partnership will generate an estimated USD 20 billion in economic benefits during the next decade for both countries. The MoU will spur development across areas like Blockchain, AI and Analytics as data and processing will be a catalyst for innovation and business growth and serve as the backbone of more effective and efficient service delivery systems. By 2035 AI can potentially add USD 957 billion to the Indian economy.The UAE India collaboration will seek to evaluate the dynamic nature of innovation and technology by convening a UAE India AI Working Group between the UAE Ministry for Artificial Intelligence, Invest India and Startup India. The TWG will meet once a year with the mandate to increase investment in AI startups and research activities in partnership with the private sector.