The Department of Economic Development - Abu Dhabi has signed an agreement with Algorythma, the UAE-based first-rate end-to-end technology service company, for promoting joint co-operation between the two parties as well as implementing projects, initiatives and strategies related to digital transformation.

The MoU seeks to launch a Centre of Blockchain Excellence (CoBE) at Krypto Labs, Masdar City, for enabling best practices and latest technologies in line with the Abu Dhabi government’s goal of supporting investment in technologies and innovative solutions and blockchain, enhancing its global leadership position in the digital transformation indicators.

Under the terms of the MoU, the centre will provide services to both government and private entities to run PoCs and R&D programmes for their blockchain-based business cases as well as provide leadership, best practices, research, support and training, said Khalifa Bin Salem Al Mansouri, Under-Secretary of the Department of Economic Development – Abu Dhabi, after signing the deal with Dr. Saleh Al Hashemi, the chief executive at Algorythma.

Under the terms of the agreement, the two parties are working to strengthen the blockchain service platform on a national level in the UAE through relevant government agencies to build and deliver solutions based on this technology, enabling digital strategies and AI capabilities through brainstorming, recommendations and implementation of various digital initiatives and strategies, he stated.

Further areas of collaboration outlined in the MoU comprise enabling use cases of AI capabilities such as computer vision, natural language processing, machine learning, he added.

Al Mansouri reaffirmed the Abu Dhabi government’s determination to accelerate the pace of the emirate’s economic development through a transformation of the next generation of services and projects based on digital technology, development of infrastructure, governance of operations, innovation and future foresight to establish a science and technology-based economy.

He pointed out that the DED and the government were currently focussing on transforming Abu Dhabi into the ideal destination for investment and making it a major centre for entrepreneurship in the region, in line with the integrated innovation system established by Abu Dhabi government within Abu Dhabi Economic Vision 2030.

Welcoming the landmark MoU, Dr Al Hashemi said: "Algorythma is determined to provide its expertise as well as technical and human resources to support the efforts of the government of Abu Dhabi in the development of the infrastructure of innovation and technology and the future of AI in the emirate, stressing Algorythma’s keenness to become a major contributor to the transition in the UAE to a technology, science and knowledge-based economy."

"As a technology and innovation company, we are keen to achieving the objectives of this strategic MoU with the DED as well as other local and federal government entities by adding value to the technology and AI sectors in the UAE," he added.-TradeArabia News Service