UAEs AI Minister stated that broader AI utilization would drive UAE’s digitized Economy

Within next ten years in 2030, the technology arena is all projected to contribute till 14 percent of nations GDP, that is equivalent to Dh352.5Bn. According to Minister of State for AI, digital economy and remote work applications Omar bin Sultan Al Olama, “the broader adoption of Artificial Intelligence (AI) will in turn drive the UAEs digitalized economy vision 2030.”

Mr. Al Olama alongside an interview with CNN stated that “they are further in pursuit for working upon a project on the computer power, AI backed systems as well as broader technology backed infrastructure in the UAE with a fixed yet flexible adoption and focussed review towards concept of fully digitalized economy vision 2030, that will thus, thrust in taking their economy to better digitalized economic heights. This digitalized economic advancement will also empower in and pave pathway for newer jobs across the emirate nation.”

The Arab league’s second biggest economy, UAE is all expecting to benefit amongst the most across the territory with aid from the AI adoption. As according to a report by consultancy PwC, the technology arena is all projected for providing a contribution of 14 percent of the nation’s GDP, that is all equivalent towards Dh352.5 billion – by 2030.

The nation will closely be followed in tandem by Saudi Arabia, wherein overall estimated forecast with the Artificial Intelligence (AI) is that it will be further adding 12.4 percent to its overall GDP.

Mr. Al Olama further added that “UAE is thriving as a new reckoning face for a lot of improvisation as well as creation of newer sectors and subsequent jobs, creation of better and newer industries, and that although the advent of digitalization, we will not be cannibalising our traditional economic values and reforms. In fact, UAE government is striving hard for capitalizing and ensuring that digital economy does not have adverse effect on the current jobs created or leading to a huge skills gap and thereby to maintain an equilibrium in all prevailing ecosystems.

In other words, Mr. Al Olama also stated that “within the upcoming ten years, the core role of the UAE government will be to keep in their think-tank going forward for deployment of Artificial Intelligence in a proven way, that will provide better values and with least number of job cuts and creation of employability opportunities even in uncertain times.”

While the deployment of AI technologies and applications, the UAE regimen considers a range of factors certain as much its future impact, number regarding jobs up to expectation are generated and worth savings so much can remain reinvested within reskilling people, pronounced Mr Al Olama, who is appointed as the nation initial AI minister in 2017.

He further stated that “Governments inhabit according to revere the human beings … to furnish better livelihoods or to confirm the after is higher now not just according to set up technology for the desire concerning deploying them.”

Globally, Covid-19 is accelerating digitisation, specifically into areas such as repayments or retail. According to a current metering conducted by means of YouGov, 6 out of 10 individuals in UAE are into favor on the country’s economy turning into cashless. Such a variation comes namely the pandemic spurred call because of contactless payments.

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