Pakistan’s Ministry of IT & Telecom has drafted a policy aimed at the growth of artificial intelligence (AI), just days after announcing that cryptocurrencies will “never be legalized” in the country. With the national AI policy, Pakistan aims to upskill human capital on AI and allied technologies among other investments and initiatives in a bid to evolve into a knowledge-based economy. Pakistan has set 15 targets with timelines ranging from 2023 to 2028, with some of the intended use cases for AI including predicting the weather, agriculture supply chain optimization and health services transformation. Pakistan intends to establish a National AI Fund to support these initiatives using the Ministry of IT & Telecom’s underutilized resources and funds. The Pakistani government remains open to feedback from the general public until June 16th, 2023. The move comes as Pakistan remains excluded from the Financial Action Task Force’s gray list due to the country’s ban on cryptocurrencies, which is a requirement set by FATF. While FATF does not have the authority to impose sanctions on non-compliant countries, it can likely influence government and corporate policies worldwide, making it important for Pakistan to comply with FATF if it wishes to receive a bailout from the International Monetary Fund.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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