President Dr Mohamed Muizzu has announced the development of a comprehensive masterplan aimed at harnessing artificial intelligence (AI) for economic growth in the Maldives. The initiative, which will follow regional best practices, focuses on risk management and the creation of a legal framework to regulate AI technology.
The decision to create the AI masterplan came after deliberations during a cabinet meeting on 16 October 2024. Once completed, the Ministry of Homeland Security and Technology, along with the Ministry of Economic Development and Trade, will present the necessary documentation to the cabinet for further review.
This move highlights the growing importance of AI as a key driver of economic progress in many countries. President Muizzu’s decision to adopt a strategic approach reflects the need to manage potential risks while ensuring that the Maldives can benefit from AI’s transformative power.
AI has become an essential part of economic planning for countries around the world, with many adopting national strategies to leverage its potential. Singapore, for instance, has positioned itself as a global AI hub through its “National AI Strategy,” which focuses on five key areas: healthcare, education, safety and security, smart cities, and transport. The strategy is designed to improve productivity while ensuring ethical considerations are integrated into AI deployment.
Similarly, the European Union has adopted a regulatory framework for AI, aiming to balance innovation with safeguarding fundamental rights. The EU’s Artificial Intelligence Act, currently under discussion, seeks to ensure that AI systems used within its member states are safe and respect existing laws, including privacy and non-discrimination.
The United Arab Emirates has also made significant strides with its “UAE Strategy for Artificial Intelligence 2031,” which aims to boost government performance and investment through AI technologies, particularly in sectors such as education, transportation, and space. The strategy sets the UAE on a path to becoming a leading nation in AI application, driven by ethical and regulatory frameworks to manage the risks.
For the Maldives, developing a robust AI masterplan is critical in positioning itself within the global economy, enabling the nation to remain competitive and foster innovation across industries. By creating a legal framework and managing the associated risks, the government can ensure that AI is applied responsibly, promoting sustainable growth and technological advancement.
With this masterplan, the Maldives joins a growing list of nations recognising the potential of AI to reshape economies, improve services, and enhance the quality of life for citizens. The forthcoming regulatory framework will be vital to balancing the opportunities and challenges AI presents, ensuring that its application benefits the nation as a whole.
