Mastercard: UAE’s Forward-Thinking Approach in Acknowledging Significance of AI
Ajay Bhalla, President of Cyber and Intelligence Solutions at Mastercard, predicts that the UAE is on the brink of leveraging the transformative capabilities of artificial intelligence (AI) and positioning itself as a global frontrunner in this realm.
During his recent visit to the region, Bhalla commended the UAE’s forward-thinking approach in acknowledging the significance of AI. In an exclusive interview with Gulf News in Dubai, he highlighted the UAE’s potential to assume a central role in the realm of emerging technology and its regulatory framework.
On August 24, the UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office formalized a Memorandum of Understanding (MoU) with Mastercard, aiming to expedite the adoption of AI across vital sectors within the country. This collaboration also encompasses the establishment of a cutting-edge Global Center for Advanced AI and Cyber Technology located in Dubai.
Notably, the UAE earned acclaim as the first nation to establish an AI ministry in 2017 as part of its strategic blueprint to establish itself as a pioneer in technology and artificial intelligence sectors. Bhalla articulated his admiration for the UAE government’s vision, particularly their 2031 plan for AI development. He emphasized, “What captivated us was the UAE government’s commitment to advancing AI within the nation and their visionary outlook for AI in 2031. I was truly impressed by their forward-thinking approach, leading us to conclude that this is the ideal place to collaborate with a government that embraces new technology and gazes into the future.”
This partnership elevates the UAE as the fourth country globally to host a Mastercard AI center of this caliber, following the United States, Canada, and India. In light of the expanding usage of AI and other emerging technologies worldwide, Bhalla views Dubai as the optimal location for this latest endeavor. He underscored the region’s unique allure, citing its robust economic expansion, well-established infrastructure, and a populace eager to swiftly embrace technological advancements. He observed, “We oversee more than 3 billion cardholders globally, but what sets this region apart is its burgeoning growth, solid infrastructure, and the rapid technology adoption among consumers. When you assess our presence in 200 countries worldwide, the UAE stands out as a high-ranking region where people enthusiastically embrace innovative technologies.”
