What To Know
- AI is expected to have a monumental effect on UAE economy, where it has been estimated that it could add AED367 billion to the country’s GDP by 2030 based on the words of Abdallah Abu Al Sheikh, Founder of Astra Tech as well as CEO of Botim.
- He estimated that the UAE’s AI market is capable of reaching $50 billion by the year 2031 because of the changes purposed by AI in the aspects of human life including healthcare, finance, government among others.
- Most importantly, according to Abu Al Sheikh, the UAE has a strong position as the world’s technology centre with the support of approved programmes such as the National Innovation Strategy and Dubai Smart City Initiatives.
AI is expected to have a monumental effect on UAE economy, where it has been estimated that it could add AED367 billion to the country’s GDP by 2030 based on the words of Abdallah Abu Al Sheikh, Founder of Astra Tech as well as CEO of Botim. It is believed that this contribution will reach up to total of 14% of the UAE’s total GDP, about $100 billion.
During the first Dubai AI & Web 3 Festival, Sultan bin Saeed Al-Wakil cited UAE’s supremacy in the global artificial intelligence market. He estimated that the UAE’s AI market is capable of reaching $50 billion by the year 2031 because of the changes purposed by AI in the aspects of human life including healthcare, finance, government among others.
Most importantly, according to Abu Al Sheikh, the UAE has a strong position as the world’s technology centre with the support of approved programmes such as the National Innovation Strategy and Dubai Smart City Initiatives. These programs coupled with large investments in digital infrastructure have supported the growth of high-tech businesses promoting the growth of the UAE’s digital economy industry. In 2022, the digital economy accounted for 4. 3% of the UAE’s gross domestic product (GDP) more just the adoption of AI is expected to grow across the country’s various industries.
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