Invest India and the UAE Minister for Artificial Intelligence (AI) signed a Memorandum of Understanding (MoU) for India – UAE Artificial Intelligence Bridge today 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 MoU was signed in the presence of Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu and H.E. Ahmad Sultan Al Falahi, Minister Plenipotentiary – Commercial Attache, UAE Embassy at the India leg of GovHack series of World Government Summit. The Minister appreciated the effort made by UAE on leading the initiative to change the government and governance through technology and reiterated India’s commitment with UAE in the field of AI.
India and UAE share a bond that extends beyond business as Indians make-up the largest expat community in the UAE at 27% and the UAE is India’s third largest trading partner.
