Minister unveils plan to attract foreign, domestic investment in AI


Minister for Information Technology and Telecommunication Syed Amin Ul Haque on Wednesday said the incumbent government was working on a strategy to attract more and more foreign as well as domestic investment in Artificial Intelligence (AI), considered a key element in strengthening economies in the modern world.
In a statement, he said, at least 60 countries, including India and Sri Lanka, have adopted the AI laws and policies since 2017. The minister said Bangladesh’s draft policy has recently been opened for public feedback and consultation. The Ministry of Information Technology and Telecommunication has also uploaded a draft of the Artificial Intelligence Policy (AIP) on its official webpage, seeking public feedback and suggestions from public and private sector organizations, academia, civil society, and industry to finalize the document.
Artificial Intelligence Policy is a pivotal milestone for transforming Pakistan into a knowledge-based economy as it spells out a national strategy to establish an ecosystem necessary for AI adoption. The policy will harness an agile framework to address different aspects of unique user journeys encompassing different market horizontals and industry verticals by ensuring the responsible use of AI.
The Ministry of IT&T is also forming a Policy Committee that will lead the policy consultation process and finalize the draft of the National AI Policy. The Policy Committee will comprise experts from industry, academia, and government. Ministry of IT&T encourages top experts in the field of AI from Industry and Academia to become part of this Policy committee.
The minister said, to secure the economic future moving forward along with other fields adopting Artificial Intelligence (AI) was indispensable in the current scenario. “There is no doubt that all major fronts of national power like the economy, security, and military power depend on technological advancement” the minister added.
The minister said that Pakistan wanted to get its due share of the global Artificial Intelligence (AI) market which is likely to reach US$ 1 trillion by 2030. He said, to achieve the goals the county will train 100,000 Artificial Intelligence (AI) graduates in the next 5 years in collaboration with academia.
He said with the support of the IT industry, 50,000 more Artificial Intelligence (AI) graduates will be produced in 5 years. “We are going to create an environment where artificial intelligence (AI) skills can be created depending on the requirements,” he added.