The Department of Economic Development – Abu Dhabi and Algorythma, the UAE-based end-to-end technology service company, have signed a memorandum of understanding, MoU, to collaborate on projects, initiatives and strategies related to digital transformation.
The MoU was signed by Khalifa Bin Salem Al Mansouri, Under-Secretary of DED Abu Dhabi, and Dr. Saleh Al Hashemi, Chief Executive Officer at Algorythma, in the presence of a number of officials from both parties in Masdar City.
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.
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The CoBE is aimed at providing 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.
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.
Further areas of collaboration outlined in the MoU comprise enabling use cases of AI capabilities such as computer vision, natural language processing and machine learning among others.
Al Mansouri reaffirmed the Abu Dhabi government’s determination to accelerate the pace of Abu Dhabi’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 MoU with Algorythma is concluded within the framework of the DED Abu Dhabi’s keenness to strengthen partnership with the private sector and accelerate the capital’s technological infrastructure to strengthen its global competitive position.
Al Mansouri further noted that the initiative is in line with the integrated innovation system established by Abu Dhabi government within Abu Dhabi Economic Vision 2030.