Page 479 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/25/24, 11:29 AM UAE Eases Attraction of Talent with New Initiatives
"There are numerous talented individuals who have been
granted Golden Visas, and many have also become
citizens of the UAE," said Faisal Al Bannai, Secretary-
General of the Advanced Technology Research Council
(ARTC) and advisor to the UAE President. "At ARTC,
we have 10 research centers and over 1,300 researchers
from 70 countries based in the UAE. When you combine
this with other tech companies like G42 and Edge, all of
them are contributing to bringing talent to the country,"
Al Bannai mentioned during a fireside chat on AI
Leadership: Steering Societal Transformation at Gitex
Global on Monday.

"It wasn't easy to attract talent four or five years ago.
Today, it's much simpler due to our established
ecosystem and projects that draw in talent," he added.
The UAE has implemented several long-term residency
initiatives, including 10-year visas and 5-year visas for
investors, students, professionals, entrepreneurs, and
others, aimed at attracting top talent and capital from
around the world. Since its introduction before the
pandemic, Dubai has issued a 10-year Golden Visa to
thousands of people in the emirate.

Faisal also emphasized that the UAE is transitioning
towards a knowledge-based economy. "The UAE is
adopting a collaborative approach to work with leading
players and invest in future technologies. We are also
developing our own technologies that are unique to us
and under our control. AI is something we cannot
overlook. We aim to be at the forefront when it comes to
AI," he stated.

Faisal noted that in the coming years, AI will begin
making decisions on basic matters on behalf of people,
such as basic planning, network routing, basic hospitality
tasks, and appointment scheduling. "There are multiple
layers of decision-making that people will start
delegating to AI within the next 3 to 5 years," he
predicted.

Abdullah bin Touq Al Marri, Minister of Economy, also
discussed various topics including the macroeconomic
outlook, the need for talent, and other issues at Gitex
Global. He added that their goal is to increase the non-oil
share from the current 74 percent to 80 percent by 2030.

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