Muneebur Rehman

Pakistan has drafted its first-ever National Artificial Intelligence (AI) Policy in line with the emerging needs, which is expected to facilitate investment in the related sectors. Tahir Ramzan, an AI expert at Krowner digital agency, Lahore, said while talking to WealthPK that through this national policy, Pakistan is set to give a push to the economy through investment in the AI-led sectors. “The government is providing an ecosystem for investment by prioritising fiscal and non-fiscal incentives for startups and small and medium-sized enterprises (SMEs) related to AI,” he added.

He mentioned that prior to the policy, investors were concerned about the supply of technical workforce. “The policy addresses the main concern regarding the provision of human capital. Upgrading the skills of the workforce, which is a prerequisite for working in AI and related technologies, will create an enabling business environment for AI,” he emphasised. The policy drafted by the Ministry of IT and Telecom intends to establish an AI fund for supporting high-tech initiatives in specific sectors.

Tahir said the policy has been framed to promote the agriculture sector through investment in the field of AI. “Introducing the process of automation, weather forecasting, and large data through satellites can revolutionise this traditional sector of the country,” he added. The expert said the health sector is yet another area where an investment gap exists in the country. “Pakistan only spends 1.4% of its GDP (gross domestic product) on the health sector,” he pointed out.

He said the AI-based investment can help in the diagnosis of diseases. It can also be instrumental in preventing outbreaks, tracing the patients’ history, and better diagnosing the disease through big data. About the manufacturing sector, Tahir said investment potential lies in the automation of operational tasks that could improve efficiency and safety. He applauded the government’s initiative of drafting a comprehensive policy that targets all these sectors by pledging to create an effective regulatory framework.

Protection of intellectual property rights (IPRs) is a precondition for the growth of investment in a country. The National AI Policy sets a target of 2,000 patents by 2026. The expert said the protection of patents directly related to AI or related industries will foster innovation and investors’ confidence. He said the first-ever National AI Policy will provide a roadmap for investment in the country. “It is hoped that it will bring positive impact on the economy,” he added.

Credit: Independent News Pakistan-WealthPk