- FDI says the AI licence will play in accelerating investment processes into the emirate.
- Strategy aligns with global trends where cities and regions are striving to establish themselves as leaders in technological innovation.
In a bold initiative to embrace the future of technology and business after Dubai and Abu Dhabi, Sharjah has announced the launch of the world’s first commercial artificial intelligence (AI) licence in partnership with Microsoft.
The groundbreaking step reflects Sharjah’s commitment to not only keeping pace with global economic trends but also positioning itself at the forefront of economies increasingly reliant on autonomous systems and digital data.
Under the auspices of the Sharjah Investment Forum, the initiative underscores the emirate’s vision to enhance its investment climate and serve as a hub for innovation.
Accelerating investment processes
Mohammed Juma Al Masharrkh, the CEO of the Sharjah Foreign Direct Investment (FDI) Office, emphasised the crucial role that this AI licence will play in accelerating investment processes into the emirate.
By facilitating the integration of AI technologies into various sectors, the initiative aims to streamline business operations and enhance efficiency, thereby attracting both local and international investors. In an era where digital transformation is rapidly altering the landscape of commerce, such measures are indispensable for fostering a competitive edge.
The announcement of the AI licence also resonates with Sharjah’s broader ambition to cultivate smart economies. The strategy aligns with global trends where cities and regions are striving to establish themselves as leaders in technological innovation.
Emirate’s proactive approach
By recognising the transformative potential of AI, Sharjah is not only prioritising its economic development but is also laying the groundwork for a sustainable and resilient economic future.
The partnership with a global technology leader like Microsoft further reinforces this commitment, providing the necessary expertise and resources to implement AI responsibly and effectively.
Moreover, it is noteworthy that Sharjah has been recognised as the fifth fastest-growing city for attracting foreign direct investment globally in 2023.
This accolade is a testament to the emirate’s proactive approach in creating a conducive environment for businesses to thrive. Sharjah’s strategic initiatives, including the launch of the AI licence, are pivotal in sustaining this growth trajectory.
The emirate is becoming increasingly attractive to international companies seeking a location that not only offers investment opportunities but also promotes innovation and technological advancement.