There’s no question that the world around us is getting smarter. In recent years, the exponential growth of artificial intelligence (AI) has created an increasing demand for AI solutions across a broad range of industries.
Accelerated in part by the global pandemic, businesses and governments around the world are recognizing the benefits of becoming early adopters of AI as part of ongoing digital transformation.
A regional hub for AI entrepreneurs At the forefront of this movement (and as far back as 2017), the UAE government released a first-of-its-kind strategy setting a clear roadmap for developing its regional capabilities and becoming the world’s premier AI destination. And it’s looking to become a game-changer, with the region as a whole estimated to accrue 2 per cent of the global benefits of AI – $320bn by 2030. As part of that journey, annual growth in the contribution of AI to UAE GDP is forecast to be 20 per cent or higher.
What that means for UAE-based startups and established companies alike is that opportunities now abound for future market leaders to create and innovate new business models – the kind which disrupts existing markets through AI-driven evolutions. But if you’re running a startup or a scale-up looking to leverage the potential of AI, which industries are currently a priority?
The UAE Strategy For Artificial Intelligence has set out its priority sectors, which include: resources and energy, logistics and transport, tourism and hospitality, healthcare, and cybersecurity.
Here’s a closer look at some of these key industries where AI development is already being embraced:
Continue reading: https://gulfbusiness.com/business-trends-and-startup-opportunities-in-artificial-intelligence/
Accelerated in part by the global pandemic, businesses and governments around the world are recognizing the benefits of becoming early adopters of AI as part of ongoing digital transformation.
A regional hub for AI entrepreneurs At the forefront of this movement (and as far back as 2017), the UAE government released a first-of-its-kind strategy setting a clear roadmap for developing its regional capabilities and becoming the world’s premier AI destination. And it’s looking to become a game-changer, with the region as a whole estimated to accrue 2 per cent of the global benefits of AI – $320bn by 2030. As part of that journey, annual growth in the contribution of AI to UAE GDP is forecast to be 20 per cent or higher.
What that means for UAE-based startups and established companies alike is that opportunities now abound for future market leaders to create and innovate new business models – the kind which disrupts existing markets through AI-driven evolutions. But if you’re running a startup or a scale-up looking to leverage the potential of AI, which industries are currently a priority?
The UAE Strategy For Artificial Intelligence has set out its priority sectors, which include: resources and energy, logistics and transport, tourism and hospitality, healthcare, and cybersecurity.
Here’s a closer look at some of these key industries where AI development is already being embraced:
Continue reading: https://gulfbusiness.com/business-trends-and-startup-opportunities-in-artificial-intelligence/
