Just days after revealing that cryptocurrencies will “never be legislated” in the nation, Pakistan’s Ministry of IT & Telecom prepared a policy to spur the development of synthetic intelligence (AI).
With the nationwide AI policy, Pakistan intends to progress into a knowledge-based economy by upskilling human capital on AI and allied innovations amongst other financialinvestments and efforts.
Draft National AI Policy (https://t.co/pZ516dmP8R)#MOITT thinks in an inclusive method for reliable policy making. Please share your feedback through e-mail ([email protected]) so that the policy draft is upgraded in the finest interests of residents of Pakistan. pic.twitter.com/afbkyNuG11
— Ministry of IT & Telecom (@MoitOfficial) May 22, 2023
The policy structure showcases Pakistan’s determination to incorporate AI for public and nationwide improvement. The nation has set 15 targets with timelines varying from 2023 to2028 To assistance these efforts, Pakistan means to develop a National AI Fund by utilizing the Ministry of IT & Telecom’s “underutilized resources and funds.”
Some of the planned usage cases for AI in Pakistan consistof anticipating the weathercondition, farming supply chain optimization and health services change to name a coupleof.
The Pakistani federalgovernment hasactually taken an inclusive technique towards structure AI policies as it stays open to feedback from the basic public till June 16th, 2023.
Related: Pakistan banks concur on blockchain-based KYC system advancement
The main factor for Pakistan’s restriction on cryptocurrencies was due to the requirements set by the Financial Action Task Force (FATF). In return, the nation stays omitted from FATF’s gray list.
The authorities hasactually been ruining Pakistan in the name of #FATF &#IMF. Whatever takesplace in this nation, according to the authorities, it's either IMF's fault or FATF's.
May ALLAH soften their hearts for the nation and typical guy. Ameen pic.twitter.com/ymHJ2sqbb6
— Crypto Pakistan (@Crypto_Pakistan) May 17, 2023
As Cointelegraph formerly reported, while FATF does not have the authority to enforce sanctions on non-compliant nations, it can mostlikely impact federalgovernment and business policies worldwide.
By complying with FATF, Pakistan holds a greater possibility of getting a bailout from the International Monetary Fund.
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Credit by : Pakistan intends to produce 1 million AI-trained IT finishes by 2027.