UAE to save $3bn with AI, blockchain, says minister

AI will be a strong ally for blockchain, and will play a pivotal role in the UAE's 2021 strategy
Omar bin Sultan Al Olama, UAE's minister for artificial intelligence.
By Lubna Hamdan
Thu 03 May 2018 11:26 AM

The UAE government is expected to save $3 billion (AED11bn) in economic return and 389 million in government documents per year, thanks to artificial intelligence (AI) and blockchain.

The technologies are two of the most powerful tools revolutionizing the UAE’s pace of innovation, according to the country’s minister of AI, who gave a keynote speech on the UAE Blockchain Strategy 2021 at the Future Blockchain Summit.

“With the combined power of AI and blockchain, the UAE government stands to save AED11 billion in economic return and 389 million in government documents alone per year,” said Omar bin Sultan Al Olama.

He added that AI will be a strong ally for blockchain, and will play a pivotal role in the 2021 strategy.

“It will help in the formation of the blockchain government, identify business process reengineering within organizations, enhance federal regulations and enable efficient monitoring of processes and systems,” he said.

The Future Blockchain Summit, which takes place from May 2-3 at Dubai World Trade Centre, features over 100 exhibitors, half of which are local and international startups.

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Last Updated: Thu 03 May 2018 11:36 AM GST

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