Just days after announcing that cryptocurrencies will “never be legalized” in the country, Pakistan’s Ministry of IT & Telecom drafted a policy to spur the growth of artificial intelligence.
With the national AI policy, Pakistan aims to evolve into a knowledge-based economy by upskilling human capital on AI and allied technologies, among other investments and initiatives.
Draft National AI Policy (https://t.co/pZ516dmP8R)#MOITT believes in an inclusive approach for effective policy making. Please share your feedback through email (email@example.com) so that the policy draft is updated in the best interests of citizens of Pakistan. pic.twitter.com/afbkyNuG11
— Ministry of IT & Telecom (@MoitOfficial) May 22, 2023
The policy framework showcases Pakistan’s willingness to integrate AI for public and national betterment. The country has set 15 targets with timelines ranging from 2023 to 2028. To support these initiatives, Pakistan intends to establish a National AI Fund by using the Ministry of IT & Telecom’s “underutilized resources and funds.”
Some of the intended use cases for AI in Pakistan include predicting the weather, agriculture supply chain optimization and health services transformation, to name a few.
The Pakistani government has taken an inclusive approach toward building AI policies as it remains open to feedback from the general public until June 16.
Related: Pakistan banks agree on blockchain-based KYC system development
The primary reason for Pakistan’s ban on cryptocurrencies was due to the requirements set by the Financial Action Task Force (FATF). In return, the country remains excluded from FATF’s gray list.
The officials has been destroying Pakistan in the name of #FATF & #IMF. Whatever happens in this country, according to the officials, it’s either IMF’s fault or FATF’s.
May ALLAH soften their hearts for the country and common man. Ameen pic.twitter.com/ymHJ2sqbb6
— Crypto Pakistan (@Crypto_Pakistan) May 17, 2023
As Cointelegraph previously reported, while FATF does not have the authority to impose sanctions on non-compliant countries, it can likely influence government and corporate policies worldwide.
By complying with FATF, Pakistan holds a higher possibility of getting a bailout from the International Monetary Fund.
Magazine: Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?