How to develop and empower the UAE’s growing AI economy?

SourceGulf Business

One of the standout trends in recent months is the growing implementation of artificial intelligence (AI) technologies as businesses strive to differentiate from their competitors. A 2019 report from the International Data Corporation (IDC) predicted that MEA spending on AI would reach $374.2m in 2020 with a compound annual growth rate (CAGR) of 19 per cent for the 2018-2023 period. Correspondingly, new company formation enquiries from AI businesses reacting to this demand have increased significantly – Creation Business Consultants has seen close to a 100 per cent increase compared to this time last year. It is time to integrate AI into systems and processes where possible, and the UAE government is leading the way with its UAE 2031 Artificial Intelligence Strategy. Many of the benefits are evidenced in its aims, which more...