Mastercard is collaborating with the UAE government to enhance artificial intelligence capabilities and foster technological development across the Middle East. As part of this initiative, the company has established a global Centre for Advanced AI and Cyber Technology in Dubai, aimed at accelerating research in generative AI.
This partnership positions the UAE as a leader in digital transformation and AI readiness. The office responsible for AI, Digital Economy, and Remote Work Applications in the UAE has signed a Memorandum of Understanding with Mastercard, focusing on AI development to combat financial crime, support inclusive growth, and enhance the digital ecosystem.
The UAE is poised to emerge as a powerhouse in AI technology, with the Dubai Centre dedicated to tackling cybercrime and promoting local talent in generative AI and technology sectors.
H.E. Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, emphasized the importance of this collaboration in achieving the UAE’s long-term AI objectives, as outlined in the UAE Strategy for Artificial Intelligence 2031. This strategy is designed to strengthen the nation’s AI capabilities and stimulate technological advancements across various sectors.
Ajay Bhalla, President of Cyber and Intelligence at Mastercard, remarked on the pivotal role of AI in operations, stating that it enhances products and improves network intelligence to provide better digital experiences while mitigating financial fraud and risk. He noted that the Advanced AI Centre, in conjunction with the UAE government, will deliver increased value to customers and strengthen trust in the digital ecosystem.
Dimitrios Dosis, President for Eastern Europe, the Middle East, and Africa at Mastercard, echoed similar sentiments, highlighting the UAE’s leadership in innovative technology that drives economic growth and digital transformation. He remarked on Mastercard’s three-decade commitment to the UAE, emphasizing the significance of harnessing AI to support the National Artificial Intelligence Strategy 2031.
Moreover, Mastercard is expanding its footprint in the UAE by partnering with the fintech company Qashio to introduce corporate credit cards featuring virtual issuance capabilities throughout the region.