The Department of Economic Development of Abu Dhabi and technology services company Algorythma based in the UAE signed a Memorandum of Understanding (MoU) on Tuesday to carryout projects, initiatives and strategies associated to digital transformation.
The Memorandum of understanding (MoU) has a main purpose to launch a center in Krypto Labs and Masdar City to ensure the top and newest technology in accordance with the Abu Dhabi Government’s goal of ensuring technology and blockchain investments.
According to the terms of the Memorandum of Understanding (MoU), the center will ensure services for government and private organizations, and ensure research, support and training.
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As per the terms of the agreement, both sides are working to strengthen the blockchain service platform at the national level in the UAE.
Khalifa Bin Salem Al Mansouri, deputy secretary of the Department of Economic Development, said that the government is fixed and concentrated on turning Abu Dhabi into an ideal place for investment and making it the greatest center of entrepreneurship in the region.
Saleh Al-Hashemi, CEO of Algorythma, mentioned that being a technology and innovation company, they were keen to achieving the objectives of that strategic MoU with the Department of Economic Development as well as other local and federal government entities by adding value to the technology and AI sectors in the UAE.
Other areas of cooperation outlined in the Memorandum of Understanding include AI capabilities, such as computer vision, natural language processing, speech recognition and machine learning.