Muscat – Oman’s economy is going to get a shot in the arm with a national initiative choosing artificial intelligence to empower various sectors.
In a collaborative effort, the Ministry of Economy (MoE) and the Ministry of Transport, Communications and Information Technology (MTCIT) have unveiled the RO10mn ‘National Initiative to Empower the National Economy Enhanced by Artificial Intelligence’ for the year 2024.
The initiative, launched on Sunday, aims to stimulate investment and foster the integration of artificial intelligence applications and technologies in development projects within the economic diversification sectors outlined in the Tenth Five-Year Development Plan (2021-25).
H E Dr Said bin Mohammed al Saqri, Minister of Economy, reaffirmed the government’s commitment to this national initiative. In support of this endeavour, H E Saqri cited economic models that predict a staggering addition of approximately US$13tn to global economic activities by 2030, solely attributed to the integration of artificial intelligence.
The Tenth Five-Year Development Plan (2021-25) has recognised the pivotal role of information and communication technology in driving economic growth, he added. “In line with the plan, the contribution of the digital economy to the gross domestic product (GDP) is expected to increase to around 10% by 2040, through several strategic initiatives and projects.”
The primary objective of the national initiative is to facilitate the adoption of artificial intelligence applications and technologies by government institutions, and empower them to embark on development projects that harness the potential of AI.
Additionally, it seeks to bolster investment opportunities rooted in technology and innovation, thereby optimising the efficiency of development spending and advancing the delivery of smart government services while ensuring their exceptional quality.
A statement released by the MoE revealed that a substantial budget of RO10mn has been allocated for this initiative, earmarked for projects set to be implemented until 2024.
The initial phase will primarily target government institutions, agencies, and governorates.
To ensure the success of the initiative, a dedicated team comprising experts from the MoE and the MTCIT will evaluate the proposed initiatives and projects put forth by government agencies, paving the way for their seamless implementation.
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