Dates

Opening on

01/04/2024

Closing on

31/08/2024

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Artificial Intelligence Tools

Objective and subject: Workforce Insights & Strategy Engine (WISE): Description: The Ministry of Human Resources and Emiratisation developed the Workforce Insights & Strategy Engine (WISE), an innovative and advanced system for simulating the labour market and economy using generative AI technologies similar to ChatGPT. Objective: The platform aims to test and formulate labour market policies by evaluating their projected impact on the labour market using AI. Various groups, such as economists, decision-makers and policymakers, use this platform to analyse the labour market under different scenarios and conditions, combining economic theory, empirical data, and statistical methods to estimate the impact of policy changes and trends on labour market outcomes, such as employment, wages, and workforce participation. Expected Decisions for implementation: - Enable policymakers and economists to test and evaluate labour market policies interactively using AI. - Estimate the impact of policy changes and economic trends on the labour market. - Develop economic models that assist in making forecasts based on different scenarios, providing in-depth insights into the - effects of future policies.


Outcome

Launching the Labour Market Simulation Project (WISE) to test and design labor market policies using artificial intelligence technologies to analyze the impact of policies on employment, wages, and workforce participation. The initiative aims to support economists and policymakers in making informed decisions.

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