This article is written and produced by Auxilium, one of the GCC’s leading Employer of Record and outsource staffing solutions providers.

Artificial Intelligence (AI) is going to bring major changes to the global economy, with a recent report from PwC predicting that the impact on the Middle East, and the UAE in particular, has the potential to be hugely significant.

The report estimates that AI could contribute up to $15.7 trillion to the global economy in 2030, with over $6 trillion coming from increased productivity and around $9 trillion from benefits to consumers. It also predicts that the Middle East will accrue 2% of these total global benefits, equivalent to US$320bn, with the UAE seeing the largest individual impact of $96bn, almost 14% of its 2030 GDP.

AI has the potential to fundamentally disrupt markets in the region through the creation of innovative new services and entirely new business models, with the report indicating there are significant opportunities for it to become a key player on the global AI stage.

The UAE has already placed great importance on AI, launching its AI strategy as part of its ongoing commitment to technological development in the country, while appointing HE Omar Bin Sultan Al Olama as its first Minister of State for AI.

Dubai has also launched a number of specific strategies and initiatives, including Smart Dubai, aimed at transforming the city through innovation and digitization; and the Dubai Autonomous Transportation Strategy, aiming to make 25% of the city’s transportation autonomous by 2030, among many others.

The UAE’s commitment to AI and technological innovation, places it in a strong position to become a global leader in the AI sector, with the report concluding that the strategic focus on AI at the highest levels of government has the potential to provide a strong foundation for growth, which will reinforce the UAE’s already strong position as a burgeoning world technology hub.

The UAE is fast becoming one of the world’s leading destinations for technological enterprise, with its thriving start-up ecosystem, entrepreneurial culture, and a highly supportive government. It is also providing new opportunities for the best global tech talent, especially following the recent major lay-offs by global Big Tech organizations in the USA and Europe.

To read the full PwC Report: https://www.pwc.com/m1/en/publications/potential-impact-artificial-intelligence-middle-east.html

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