Two-thirds of UAE tech leaders attribute increased business profitability to AI

  • Date: 29-Oct-2023
  • Source: Khaleej Times
  • Sector:Technology
  • Country:UAE
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Two-thirds of UAE tech leaders attribute increased business profitability to AI

KPMG report shows 84% of UAE tech leaders are more confident than global peers that the opportunities of XaaS technologies outweigh the risks

Photo for illustrative purposes only. — File photo

Published: Sun 29 Oct 2023, 5:19 PM Last updated: Sun 29 Oct 2023, 5:20 PM

An impressive 89 per cent of technology leaders in the UAE are confident that their current technology can effectively fuel business growth and enhance organisational development, a recent report showed.

This level of confidence surpasses that of their global counterparts by a significant 16 per cent, the KPMG UAE Tech report for 2023, titled Tech Trailblazers: Navigating the Next Digital Frontier, revealed.

The report emphasises the UAE’s dedication to using technology to reach ambitious business objectives, tackle challenges, and promote environmental, social, and governance (ESG) priorities. Notably, 87 per cent of tech leaders in the UAE are confident in their current technology’s ability to advance the organisation’s ESG agenda, surpassing the global average by 15 per cent. Additionally, a substantial 86 per cent of UAE tech leaders believe that their organization’s technology is simultaneously enhancing employee satisfaction, well-being, efficiency, and cost reduction.

Mohamad Majid, partner, digital and innovation at KPMG Lower Gulf said: “The UAE’s digital transformation leaders are committed