India, UAE can work together and expand world trade footprint through UAE Minister Omar Sultan Al Olama

The time has come to dominate the world through business, and countries such as India and the UAE can work together to significantly increase their global footprint, United Arab Emirates Minister of State for Artificial Intelligence Omar Sultan Olama said on Wednesday. The remarks were made during a virtual speech at an event called CyFY2022 organized by the Observer Research Foundation (ORF). “The way to rule the world today is through commerce. If countries like India and the UAE can cooperate, we can greatly increase our footprint in the world,” Olama told ORF President Samir Saran in a video interaction. The UAE minister said that there are deep-rooted roots between India and the UAE, and there are multiple possible areas of cooperation, especially between start-ups in the two countries.
Olama, the world’s only minister of artificial intelligence, said his job was to regulate bad things and promote good things, while using technology to create a better future for everyone. The Arab minister added: “My job is to make sure that AI is deployed in the country to make the government more proactive, get better economic returns, and create a better future for everyone.” When it comes to the use of artificial intelligence in China, the UAE minister said the country wants to apply AI to improve efficiency in order to reduce the cost per barrel.
“We really need to spend money on our infrastructure. We’re going to use artificial intelligence to manage traffic efficiently to make sure people don’t get stuck in traffic like you’re seeing, even though we’ve increased traffic across the bay ,” Olama said. Turning to Web 3.0, the minister said Dubai is “optimistic” about Web3. “We can’t compete with other countries on scale, but with Web3 we can compete with other countries, albeit without the physical scale of other countries,” he said. Explaining the development of technology, the minister said more can now be done with less data. Today, we need not just quantity, but better data quality and speed. Access to capital, talent and an enabling environment is critical to developing the tech ecosystem,” explained Olama. Responding to a question about women’s participation, he said the UAE has a larger proportion of women in the digital space. There are now more women Participating in it, he added that due to increased connectivity, STEM is entering even in rural areas. Later, an MP from Ambedkarnagar Ritesh Pandey, speaking at the same event, said:
“Government’s role in promoting Web3 technology — policies must be in place to protect the interests of millions of people in rural areas.” Pandey said middlemen steal key resources around the world, but he believes the problem is particularly harmful in India. “Web3 and blockchain can democratize data and related technologies…Blockchain, asset ownership data, smart contracts and digital assets make up the digital metaverse and can help solve many pressing problems,” the lawmaker said. Source: ANI