Qatari Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered on May 15 the opening speech of the fourth edition of Qatar Economic Forum (QEF), Powered by Bloomberg, Zawya reported.
He stated that as Qatar is moving towards a comprehensive digital transformation by investing more in technology, innovation and AI, it has allocated an incentive package worth QR 9 billion ($2.47bn).
He also launched the Arab Artificial Intelligence Project, which primarily relies on high-quality Arabic language data. “This project contributes to enriching large Arab models and preserving the Arab identity,” he said.
The forum, convened under the theme: “A World Remade: Navigating the Year of Uncertainty” brings together over 1000 business leaders from various territories around the globe.
A day earlier, The Qatar Central Bank (QCB) announced through its Governor, Sheikh Bandar bin Mohamed bin Saoud al-Thani. plans to issue its first guidelines on how to adapt artificial intelligence (AI) in financial institutions in the country within a few weeks
“Regulations are very important. That’s going to help financial institutions better adapt AI and mitigate the risks. At this stage, we are working on guidelines, which we have sent to financial institutions as a consultation paper. We are going to see their feedback. In future, there may be a framework that governs data, AI, risk modelling etc.,” he said.