What To Know
- This is in line with the report on proactive government actions across the region and well-developed ICT industry, which sets the GCC up to benefit from improved efficiency, and thus more economic growth, amidst AI adoption.
- This technological advancement is being driven by the region’s sovereign wealth and venture funds on the one hand and government spearheaded national level AI on the other hand with UAE and KSA at fore front.
- In the future, PwC expects that AI leadership in the GCC will remain stable owing to investment in the AI sector as well in semiconductors and data centers.
Artificial intelligence is the new thing in the Middle East as research led by PricewaterhouseCoopers (PwC) expounds. This is in line with the report on proactive government actions across the region and well-developed ICT industry, which sets the GCC up to benefit from improved efficiency, and thus more economic growth, amidst AI adoption.
The PwC report cites five main factors behind the Middle East’s rapid progress in AI: rich capital formation, favourable ICT environment, government commitment, international linkages, and openness to ICT innovation. This technological advancement is being driven by the region’s sovereign wealth and venture funds on the one hand and government spearheaded national level AI on the other hand with UAE and KSA at fore front.
The United Arab Emirates, for instance, is expected to rank third as the AI power after the USA and China. It is also assisted by membership in Global does and relations with key IT players like Microsoft, Google, and OpenAI that help the consolidated the GCC’s position. Thus, MGX from Abu Dhabi invested in OpenAI participating in the latest $6.6bn round.
In the future, PwC expects that AI leadership in the GCC will remain stable owing to investment in the AI sector as well in semiconductors and data centers. Nevertheless, there are still some difficulties began to appear, namely, the problems of scaling, and shortage of appropriate specialists. However, relevance of region to AI development indicates it will boost AI innovation around the world.
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