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In a collaborative effort with the UAE government, Mastercard has embarked on a mission to propel AI capabilities and advancement within the Middle East. Hand in hand with this partnership, Mastercard has inaugurated a global Centre for Advanced AI and Cyber Technology in Dubai, geared towards accelerating generative AI research.
This strategic move cements the UAE’s position as a technology nucleus, a driving force behind digital transformation, and a harbinger of AI readiness. The UAE’s AI, Digital Economy, and Remote Work Applications office, in conjunction with Mastercard, formalized a Memorandum of Understanding to fortify AI development, with a specific focus on combatting financial crime, fostering inclusive growth, and nurturing the digital landscape.
As the UAE sets its sights on becoming a trailblazing AI technology hub, the establishment of the Center in Dubai takes aim at curbing cybercrime, enhancing growth prospects, and fostering a homegrown talent pool specialized in generative AI and technology.
H.E. Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, underscored the significance of this collaboration in propelling the UAE’s AI aspirations. This aligns with the UAE Strategy for Artificial Intelligence 2031, a blueprint aimed at amplifying the nation’s AI capabilities and incubating novel technologies across diverse sectors.
Ajay Bhalla, President of Cyber and Intelligence at Mastercard, shared insights, stating, “AI serves as the backbone of our operations, infusing vitality into our products and energizing our network intelligence to enhance digital experiences while mitigating financial fraud and risk. The conjunction of this latest Advanced AI Centre and our collaboration with the UAE Government is poised to deliver amplified value to our patrons and, ultimately, reinforce confidence in the digital ecosystem.”
Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa at Mastercard, emphasized, “The UAE holds global eminence in pioneering innovative technologies to catalyze economic growth and steer digital metamorphosis. For over three and a half decades, Mastercard has been investing in the UAE, harnessing technology’s prowess for the nation’s betterment. Through the embrace of AI potential via this newfound partnership, we herald in the next wave of transformative technology, vigorously endorsing the National Artificial Intelligence Strategy 2031.”
Pledged to deepening its footprint in the UAE, Mastercard recently joined forces with UAE fintech company Qashio to launch corporate credit cards featuring virtual issuance capabilities throughout the region. This move underscores Mastercard’s commitment to amplifying innovation and enriching the financial landscape across the Middle East.
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