Just a few days after announcing that Cryptocurrencies "will never be legalized" In the country, Pakistan's Ministry of IT and Telecommunications drafted a policy to stimulate the growth of artificial intelligence (AI).
With the national AI policyPakistan aims to evolve towards a knowledge-based economy by upgrading human capital skills in artificial intelligence and allied technologies, among other investments and initiatives.
National AI Policy Project (https://t.co/pZ516dmP8R)#RIP believes in an inclusive approach to effective policy making. Please share your feedback via email (feedback.naip@moitt.gov.pk) so that the draft policy will be updated in the best interest of the citizens of Pakistan. pic.twitter.com/afbkyNuG11
โ Ministry of IT and Telecommunications (@MoitOfficial) May 22, 2023
The policy framework shows Pakistan's willingness to integrate AI for public and national betterment. The country has set 15 targets with time frames ranging from 2023 to 2028. To support these initiatives, Pakistan intends to establish a National AI Fund using the "underutilized resources and funds" of the Ministry of IT and Telecommunications.
Some of the anticipated use cases for AI in Pakistan include weather prediction, agricultural supply chain optimization, and healthcare transformation, to name a few.
The Pakistani government has taken an inclusive approach to developing AI policy as it remains open for comments from the general public until June 16, 2023.
Related: Pakistani banks agree to development of blockchain-based KYC system
The main reason for the ban on cryptocurrencies in Pakistan was due to the requirements set by the Financial Action Task Force (FATF). In return, the country is excluded from the FATF gray list.
Officials have been destroying Pakistan in the name of #FATF & #IMF. Whatever happens in this country, according to officials, is the fault of the IMF or the FATF.
May ALLAH soften their hearts for the country and the common man. Amen pic.twitter.com/ymHJ2sqbb6โ Crypto Pakistan (@Crypto_Pakistan) May 17, 2023
As Cointelegraph previously reported, while the FATF does not have the authority to impose sanctions on countries that do not comply, it is likely that it can influence government and corporate policies around the world.
By complying with the FATF, Pakistan has a greater chance of getting a bailout from the International Monetary Fund.
Magazine: Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?
Post navigation
