UAE's AI sector poised to boost GDP by 14 percent by 2030
Date
9/12/2024 5:03:34 AM
(MENAFN) Abdullah Abu Al-Sheikh, the founder of Astratech and CEO of Botim, has projected that artificial intelligence (AI) will significantly impact the UAE's economy, contributing up to 14 percent of the nation's GDP by 2030, which equates to approximately USD100 billion (AED 367 billion). Speaking at the inaugural Dubai Artificial Intelligence and Web 3 Festival, Abu Al-Sheikh highlighted the UAE's growing prominence in the global AI landscape, with expectations suggesting that the AI market in the country could reach USD50 billion by 2031.
This anticipated growth in the AI sector is attributed to its increasing adoption across various key industries, including healthcare, finance, and government services. AI technologies are being implemented to enhance operational efficiencies and provide more personalized services, reflecting the sector's broadening influence. Abu Al-Sheikh emphasized that the UAE's strategic position as a technology and innovation hub is supported by its robust digital infrastructure and progressive leadership. Initiatives such as the National Innovation Strategy and the Smart Dubai Agenda have positioned the country as an attractive environment for high-growth tech companies.
The UAE's digital economy, which contributed 4.3 percent of GDP in 2022, is expected to continue its expansion as technology firms thrive within this ecosystem. Abu Al-Sheikh attributed the UAE's success in becoming a leading technology center to three main factors: strong leadership, advanced infrastructure, and a talented workforce. The country’s world-class infrastructure, including 5G networks and digital platforms, combined with its efforts to attract global talent through programs like the Golden Visa, creates a dynamic environment conducive to innovation and technological progress.
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