"Office of Artificial Intelligence" And MasterCard launches "Lighthouse" To promote innovation in the financial sector
Dubai, May 21 / WAM / The Office of Artificial Intelligence, Digital Economy and Remote Work Applications announced the launch of the “MasterCard Lighthouse” program in its first edition, in cooperation with “MasterCard International”, as part of a series of initiatives aimed at supporting emerging companies and enabling them to employ artificial intelligence solutions in developing more efficient and flexible financial services, and enhancing innovation capabilities in the financial sector in the country.
The program works to connect promising startups in the fields of artificial intelligence and financial technology with the most important financial institutions, innovation partners, and investors across the system that supports startups, while accelerating the growth of these companies through an intensive mentorship program managed in cooperation with global experts, to facilitate testing solutions and transforming them into practical, scalable projects.
The launch of the program comes within the framework of the UAE’s national directions aimed at consolidating its global leadership in the digital economy, by enhancing digital confidence, establishing operational flexibility, and ensuring that innovation is transformed into safe and scalable practical applications, in line with the rapid growth in the adoption of artificial intelligence technologies in local and global markets.
The first edition of the program in the UAE focuses on discovering innovative solutions based on artificial intelligence in the areas of trade, risk management, trust and operational flexibility, in addition to supporting financing small and medium-sized companies and emerging companies in the field of financial technology that rely on artificial intelligence.
The program provides an integrated platform that connects innovative startups with leading financial institutions, innovation partners and investors, while accelerating their growth through an intensive mentoring program provided by global experts, to enhance their ability to innovate and expand quickly.
Saqr bin Ghalib, Executive Director of the Office of Artificial Intelligence, Digital Economy and Remote Work Applications, stressed that the launch of the program reflects the vision of the UAE government in adopting artificial intelligence in a responsible and sustainable manner, and translates its keenness to expand the horizons of global partnerships in a way that enhances the country’s position as a leading global center in the field of artificial intelligence.
He added that the program represents a qualitative step and a pioneering initiative to support the transformation of innovation into systematic impact and sustainable value, by building an integrated system that brings together startups, financial institutions and innovation partners, which contributes to transforming advanced technological solutions into practical applications that can be expanded.
Bin Ghalib pointed out that this system contributes to achieving a sustainable economic and social impact, and enhancing the added value of economies and societies, in a way that supports the country’s trends towards a more competitive and sustainable digital economy.
For his part, Mark Elliott, Regional President for the Eastern Arab Region at MasterCard, said that the MasterCard Lighthouse Program aims to empower innovative emerging companies in the fields of artificial intelligence and financial technology, by enhancing cooperation between all parties, providing specialized expertise, and opening the doors to commercial opportunities for them, noting that the launch of the program in the Emirates comes to support the country’s vision of consolidating its position as a leading global center for digital innovation.
The adoption of artificial intelligence is witnessing continuous growth, with 88% of organizations around the world using this technology on a regular basis last year, compared to 78% in 2024, and in the Middle East and North Africa region, the artificial intelligence market, which currently includes about 3,000 companies, is expected to reach an annual growth rate of 44.8% by 2030.
The MasterCard Lighthouse program was launched for the first time in 2018 in the Nordic and Baltic regions as a partnership-based platform to support cooperation between startups and existing institutions to commercialize innovations, and later expanded to include Turkey. To date, the program has contributed to the establishment of more than 300 partnerships and attracted investments exceeding $1.3 billion. It has also contributed to the emergence of several successful companies among 228 graduates.
Startups working in the fields of artificial intelligence and financial services in the UAE can benefit from the MasterCard Lighthouse UAE 2026 program through the electronic link no later than June 19, 2026.
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