The UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office, along with the Mastercard Centre for Advanced AI and Cyber Technology in Dubai and First Abu Dhabi Bank (FAB), have introduced their inuagural “AI Challenge”.
Aligned with the UAE’s Artificial Intelligence Strategy, the initiative aims to stimulate the development of the UAE’s flourishing AI sector and create fresh prospects for businesses and professionals specializing in AI.
J K Khalil Division President Master Card – East Arabia
“AI is fast becoming one of the greatest game changers of our time, reshaping the way we handle our finances, conduct business, and interact with the global economy. At Mastercard, we are dedicated to harnessing AI as a force for good, and we wholeheartedly support the UAE’s vision to spearhead innovation in this space. The AI Challenge is a natural extension of our innovation-driven partnerships with the UAE’s Artificial Intelligence, Digital Economy and Remote Work Applications Office and FAB that builds on our shared commitment to supporting the country’s thriving startup scene.”
Saqr Binghalib, Executive Director of UAE’s Artificial Intelligence, Digital Economy and Remote Work Applications Office, said that, “The UAE government focuses on strengthening partnerships with leading technology companies, innovators, and talent who seek to drive the nation’s progress and prosperity journey. Its efforts aim to advance technological progress, shape the future of artificial intelligence, and consolidate the UAE’s position at the forefront of leading countries in future fields.
“The AI Challenge will contribute to attracting innovators and talented individuals to enhance the country’s coding community and create a nurturing and stimulating environment for them to use the best of their abilities to shape a brighter future for our society,” Binghalib added.
The challenge invites seed and Series A startups to propose innovative AI-driven solutions in cybersecurity, generative AI in banking and finance, customer lifecycle management, productivity enhancement, emerging fintech, and ESG.
The competition will culminate in a pitch day, during which finalists will be assessed by a panel of experts from the three partners.
The winner will receive a cash prize of $150,000, access to Mastercard’s global sponsorships, events, and priceless assets, and an accelerated enrolment into its award-winning global startup engagement program, Start Path, as per the statement.
