The World Economic Forum (WEF) said on Thursday that the UAE along with Brazil and Denmark, has joined WEF forum centre for the Fourth Industrial Revolution, to close the growing gap between emerging technologies and policy development.
Under the agreement, each government will have to partner with leading businesses, start-ups, civil society, academia and international organisations to co-design and pilot new approaches to policy to help shape the trajectory of emerging technology and will be piloted by governments and businesses, the WEF said in an emailed statement.
The UAE will partner with the centre to develop a “future-flexible” national data policy and strategy. This approach is designed to complement the fast-moving nature of Fourth Industrial Revolution technologies, such as artificial intelligence (AI) and blockchain. The UAE is the first nation to take this approach, according to the WEF statement.
Brazil and Denmark, meanwhile, will join the Internet of Things (IoT) and Connected Devices project at the Centre for the Fourth Industrial Revolution.
“Emerging technologies are advancing at unprecedented speed, putting enormous pressure on regulatory frameworks,” said Klaus Schwab, Executive Chairman and Founder of the World Economic Forum, in a statement.
“The Centre for the Fourth Industrial Revolution Network is a global hub for public-private cooperation to help governments and businesses adopt agile governance policies to maximise the benefits of science and technology for society,” he added.
About $14 trillion could be added to the global economy by 2030 from industrial IoT technologies.
These governments join Bahrain, India, the Inter-American Development Bank, Japan, Rwanda and the United Kingdom at the Centre in San Francisco. To help the projects scale their impact, new centres will open in Japan, China and India later this year, creating a global Centre for the Fourth Industrial Revolution Network, WEF said.
Source: https://gulfnews.com/business/economy/uae-joins-wef-forum-for-fourth-industrial-revolution-1.2233325