UAE launches AI challenge with Mastercard

The initiative, part of the UAE Strategy for AI, aims to stimulate the country’s AI sector and foster opportunities for AI-focused businesses and talent.
UAE flag waving in the sky, national symbol of UAE. UAE National day. UAE flag day.

The UAE’s AI, Digital Economy and Remote Work Applications Office, alongside the Mastercard Centre for Advanced AI and Cyber Technology in Dubai and First Abu Dhabi Bank (FAB), have unveiled their inaugural ‘AI Challenge’. Aligned with the UAE Strategy for AI, this initiative aims to invigorate the country’s burgeoning AI sector and cultivate opportunities for AI-focused businesses and talent.

Saqr Binghalib, Executive Director of the AI Office in UAE, emphasised the government’s commitment to fostering partnerships with technology leaders and innovators. This collaboration aims to propel technological advancement, shape the future of AI, and reinforce the UAE’s global leadership in emerging fields.

J.K. Khalil, Division President, East Arabia at Mastercard, highlighted AI’s transformative potential across finance, business operations, and global interactions. The AI Challenge underscores Mastercard’s dedication to leveraging AI for positive impact and supporting the UAE’s vision to pioneer innovation in this domain.

The AI Challenge invites seed and Series A startups to propose innovative AI-driven solutions in areas such as cybersecurity, fintech, and productivity enhancement. Finalists will compete for a US$150,000 cash prize, access to Mastercard’s global resources, and enrolment in its acclaimed Start Path programme, aimed at accelerating startup growth through mentoring and global networking opportunities. Interested participants can register online by 25th August 2024 to participate in this groundbreaking initiative.