UAE Launches AI Challenge
The challenge aims to support the growth of the UAE's AI sector and create new opportunities for AI-focused startups.
The UAE's Artificial Intelligence, Digital Economy, and Remote Work Applications Office, in collaboration with the Mastercard Centre for Advanced AI and Cyber Technology in Dubai and First Abu Dhabi Bank (FAB), has launched its first AI Challenge.[1]
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The challenge aims to support the growth of the UAE's AI sector and create new opportunities for AI-focused startups.
The AI Challenge invites seed and Series A startups to propose AI-driven solutions in areas including cybersecurity, generative AI in banking and finance, customer lifecycle management, productivity enhancement, emerging fintech, and ESG. Finalists will present their ideas during a pitch day, where a panel of experts from the three partnering organizations will evaluate them.
The winner will receive a cash prize of $150,000, access to Mastercard's global sponsorships, events, and resources, and enrollment into Mastercard's Start Path program. Start Path assists startups in scaling their businesses through mentoring, innovation opportunities, and engagement with Mastercard's global network of banks, merchants, partners, and digital players.
Since 2014, Start Path has supported over 400 startups from 54 countries, which have collectively secured more than $25 billion in post-program capital.
Interested applicants can register for the AI Challenge by 25th August 2024 at Mastercard AI Challenge.
Last year, Mastercard launched the Centre for Advanced AI and Cyber Technology in Dubai in partnership with the UAE's Artificial Intelligence, Digital Economy, and Remote Work Applications Office. This project aims to enhance AI capabilities and readiness in the region.