The UAE is set to spend around $73 million on artificial intelligence (AI) systems in 2020, media reports said.
According to a recent report by IDC, the spending on AI systems is set to grow substantially by 19.7 percent from the previous year.
The money invested in AI by the UAE is the highest by any country in the Middle East. The report further revealed that the spending accounts for one-fifth of the total in the Middle East and Africa which is set to reach $374 million in 2020.
In this regard, Praj Calthorpe, Deputy General Manager, Condo Protego told the media, “The UAE’s government-led AI strategy is delivering major benefits in eservices that can be accessed in the social distancing era, and help residents and businesses to save time and money. Thanks to the strong results of the country’s AI deployments, Abu Dhabi and Dubai are continuing to lead the Middle East in AI projects in Smart Cities.
“While the UAE’s AI spend reaching a record high is encouraging, AI projects should be focused on meeting business goals, rather than technology for technology’s sake. Channel partners are key for successful AI projects and can support knowledge exchange to build up in-house AI skills. Not everyone needs to be a data scientist, but baseline data analytics skills are increasingly important.”
Last month, Omar bin Sultan Al Olama, Minister of State for AI, digital economy and remote work applications said that widespread adoption of artificial intelligence will boost the digital economy in the UAE.
According to a report by consultancy PwC, AI is expected to contribute up to 14 percent to the UAE’s GDP, which is equivalent to Dh352.5 billion by 2030.