India and the UAE have signed a bilateral Artificial Intelligence Bridge agreement that seeks to make economic benefits worth $20 billion during the upcoming decade.
Minister of State for Artificial Intelligence, Omar bin Sultan Al Olama and managing director and CEO of Invest India, the country’s investment promotion agency, Deepak Bagla, on Saturday signed a memorandum of understanding.
As per the state news agency WAM, the agreement focuses to spur discussion and find options for India and the UAE to expand their artificial intelligence (AI) economies.
The UAE Minister stated, “How a country chooses to embrace artificial intelligence will have a tremendous impact on its ability to innovate and prosper. Data and processing will be a catalyst for innovation and business growth and serve as the backbone of more effective and efficient service delivery system.”
Bagla mentioned, “Artificial intelligence is going to play a critical role in our lives and this partnership will provide solutions not only for the citizens of India and the UAE, but for the entire world.”
The combination will aim on open bilateral engagement via a joint working group, WAM stated. Additionally, it also told that there is potential to work together with technology start-ups, governments, academia and industry associations to understand how technology is growing and how its adoption can be increased.
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