According to industry reports, AI could contribute up to $150 billion - equivalent to 9% of the GCC's combined GDP - along with additional investments between $21 billion and $35 billion through the rapid evolution of technologies like Generative AI (GenAI).
“By 2025, we anticipate significant investments in AI infrastructure, deeper collaborations with global tech giants, and the establishment of advanced data security frameworks, ensuring the region's leadership in sustainable AI adoption,” Ram Ramachandran, Senior Vice President, India, Middle East and Africa business, Tech Mahindra, said.
Beyond AI, emerging technologies such as blockchain, metaverse, Web3, and digital twins are unlocking new opportunities. These innovations are reshaping industries, simplifying products and services, building smarter cities, and enhancing sectors like education and healthcare.“We are excited to contribute to this transformative journey through a wide range of products, services and new offerings to drive progress and innovation across the Middle East,” Ramachandran said.
The World Economic Forum's annual meeting at Davos draws a unique congregation including C-suite executives, business magnates and political visionaries from across the globe to come together and navigate the complexities of a rapidly evolving world.“With this year's theme being 'Collaboration in the Intelligent Age,' we anticipate that there will be a significant emphasis on leading with purpose, innovating responsibly, and creating a future that is both intelligent and ethical. Additionally, I expect the forum to encourage a collaborative approach towards creating a more equitable and sustainable future, fostering partnerships between governments, businesses, and civil society,” Ramachandran said.
It is also critical to emphasize the importance of uniting innovation with collaboration.“The challenges we face today demand that industries work together, crossing traditional boundaries to create solutions that are sustainable, equitable, and impactful. This year, the focus will also be on harnessing transformative technologies-such as AI, quantum computing, 5G, and digital transformation, to enable business growth and create sustainable and inclusive solutions. As we step deeper into the intelligent age, digital trust emerges as the cornerstone of progress. Businesses must embed accountability, transparency, and ethical oversight into their innovation ecosystems to ensure technology aligns with stakeholder expectations and societal needs,” Ramachandran said.
Discussions at Davos need to focus on key themes that will define the future of industries and economies Ramachandran stressed.“Geopolitical stability and economic growth will take centrestage as global risks continue to disrupt markets and supply chains. Leaders must prioritize strategies that enhance resilience and ensure sustainable economic growth amidst uncertainties,” he added.
Another critical area of focus is the future of work, which is evolving rapidly, with GenAI emerging as a transformative force. Reports suggest that GenAI could transform as much as 40% of people's working hours in jobs performed across modern industries.“Organizations that prioritize AI as a strategic enabler, adapt workflows, and equip their workforce with the right skills and tools will lead the generative revolution,” Ramachandran said.
Environmental sustainability remains a pressing global priority. With risks such as extreme weather events and biodiversity loss looming large, businesses must align with global climate goals by embedding sustainable practices into their operations.“This is essential for ensuring long-term viability and creating value in a resource-constrained world. Further, transforming innovative ideas into scalable solutions requires more than just financial investment. It demands a paradigm shift - combining visionary leadership, advanced technological tools, and a collaborative culture. By fostering an environment that nurtures creativity and collaboration, leaders can effectively turn promising concepts into impactful and scalable outcomes that drive meaningful change,” Ramachandran said.