IMAGE DISTRIBUTED FOR DUBAI FUTURE FOUNDATION - In this image released on Friday, June, 14, 2024, is Omar Al Olama, the UAE's Minister of State for AI, Digital Economy and Remote Working. Dubai is increasingly becoming a global centre for artificial intelligence. To this end, the metropolis, the day after tomorrow on the Gulf has pledged to train one million people in AI prompting over the next three years. It is the first program of its kind in the world. HANDOUT IMAGE - Please see Special Instructions. Press release and media available to download at www.apmultimedianewsroom.com/newsaktuell. (Dubai Future Foundation/News Aktuell via AP Images)
UAE is betting big on AI. Recently, the nation revealed that it will be using artificial intelligence to write its laws. Becoming the first nation to do so, the nation just approved the Regulatory Intelligence Office for the UAE. This comes after the UAE appointed its AI minister back in 2017 and are now moving forward with their Regulatory Intelligence Office to aid in the process of writing new federal and local laws as well as reviewing and amending existing legislation and other procedures.
According to The Telegraph, the effort to digitize the Gulf state to streamline the legislative process will see the office be responsible for implementing, coordinating and designing how AI’s regulatory system would work. As per government officials in the region, the laws, as well as judicial rulings and other executive procedures and public services will all be written by the AI system created.
According to Sheikh Mohammed bin Rashid al-Maktoum, “This new legislative system, powered by artificial intelligence, will change how we create laws, making the process faster and more precise.” AI is expected to have a global market value of $15.7 trillion USD by 2030 and with the help of AI, it is expected to reduce government costs by 50%.
The Federal Reserve has unveiled a new proposed rule that would require certain payment stablecoin issuers to…
Shares of HIVE Digital Technologies jumped more than 10% after the company announced a major $220 million, three-year…
Illinois has officially become the first U.S. state to impose a transaction-based tax on cryptocy activity…
The cryptocy market was hit by a sharp wave of volatility after the Federal Open Market…
Algorand is accelerating its push toward becoming one of the world's first fully quantum-resistant blockchains, announcing…
The long-awaited Digital Asset Market CLARITY Act is moving closer to becoming law as momentum continues building…