Dubai, August 19 (WAM) - The Dubai Chambers signed a memorandum of understanding with the National Association of Software and Services Companies (NASSCOM), India, aimed at supporting the establishment and expansion of Indian companies specializing in artificial intelligence assistance and deep technologies in Dubai, as well as enhancing cooperation between the innovation systems of the emirate and India.

Under the memorandum, both parties will work to build strategic partnerships among relevant entities in artificial intelligence assistance, exchange expertise and knowledge, launch joint initiatives, connect Indian companies with business opportunities, investors, entrepreneurs, and innovation in Dubai, and organize specialized events in this field.

H.E. Mohammed Ali Rashed Lootah, Director-General of the Dubai Chambers, said that Dubai's efforts to support the private sector's transition towards artificial intelligence assistance represent a pioneering step globally to enhance the competitiveness of the business community and increase companies' readiness to benefit from advanced technologies and their applications in the future economy.

He added that the Dubai Chambers is working to expand cooperation and international partnerships, particularly with India, to build an integrated system that supports companies' adoption of artificial intelligence assistance, enhances their efficiency and productivity, and opens new horizons for economic opportunities.

NASSCOM represents India's technology sector, which is valued at $315 billion and includes more than 3,500 technology companies ranging from startups to multinationals.

Dubai’s AI Executive Committee was formed last June to accelerate the adoption of artificial intelligence technologies in the private sector, develop incubators and specialized companies, and build institutional capacity to enhance business competitiveness and cement Dubai's position as a global hub for the digital economy and future industries.