First Abu Dhabi Bank (FAB), the Mastercard Center for Advanced AI and Cyber Technology in Dubai, the UAE's AI, Digital Economy, and Remote Work Applications Office, and others have announced the launch of their first-ever "AI Challenge." This project, which is in line with the UAE Strategy for AI, is to stimulate the nation's growing AI industry and foster possibilities for AI-focused individuals and businesses.
The Executive Director of the AI Office in the United Arab Emirates, Saqr Binghalib, emphasized the government's dedication to developing alliances with innovators and leaders in technology. The purpose of this partnership is to progress technology, mold AI's future, and strengthen the UAE's position as a global leader in developing industries.
The division president of Mastercard for East Arabia, J.K. Khalil, emphasized how AI has the ability to revolutionize the financial industry as well as corporate operations and international relations. The AI Challenge demonstrates Mastercard's commitment to using AI to advance positive change and to advancing the UAE's goal of leading the way in this area of innovation.
Seed and Series A startups are invited to submit creative AI-driven solutions for problems including productivity boosts, banking, and cybersecurity as part of the AI Challenge. The top contenders will fight for a US$150,000 cash prize, access to Mastercard's extensive network, and a spot in the company's renowned Start Path program, which promotes startup growth through mentoring and international networking opportunities. By August 25, 2024, interested parties can register online to take part in this innovative effort.