Artificial intelligence could add AED 367 billion to the UAE's GDP by 2030 — equivalent to roughly 14% of total output, or approximately $100 billion — according to Abdallah Abu Al Sheikh, Founder of Astra Tech and CEO of Botim. He made the projection during the inaugural Dubai AI & Web3 Festival held on 11–12 September 2024.
UAE AI Market Could Reach $50 Billion by 2031
Also speaking at the festival, Sultan bin Saeed Al-Wakil highlighted the UAE's strong position in the global artificial intelligence market. He estimated that the UAE's AI market could reach $50 billion by 2031, driven by rapid adoption across key sectors including healthcare, finance, and government services.
The two-day festival, organised under the aegis of the Government of Dubai, drew more than 6,800 delegates from over 100 countries and more than 100 exhibitors. It brought together government officials, business leaders, and academics to explore the commercial potential of AI and Web3 technologies.
National Strategy and Digital Infrastructure Drive Growth
According to Abu Al Sheikh, the UAE holds a strong position as a global technology centre, underpinned by government-backed programmes such as the National Innovation Strategy and Dubai Smart City Initiatives. These frameworks, combined with large-scale investment in digital infrastructure, have accelerated the growth of high-tech businesses and expanded the UAE's digital economy.
In 2022, the digital economy already accounted for 4.3% of the UAE's GDP — a figure expected to grow significantly as AI adoption deepens across industries.
AI Transforming Healthcare, Finance, and Government
The projections reflect broader trends across the region. AI is reshaping how governments deliver services, how financial institutions manage risk, and how healthcare providers personalise treatment. The UAE's early investment in AI infrastructure positions it to capture an outsized share of the productivity gains the technology is expected to unlock.
PwC estimates cited in regional analyses project AI could contribute around $96 billion to the UAE's GDP by 2030 — broadly consistent with the AED 367 billion figure Abu Al Sheikh cited at the festival.
