According to KPMG sources, the AI (Artificial Intelligence) revolution is going to spearhead and contribute a staggering $320bn to overall Middle Eastern GDP or Economy within 2030.
According to Ali Al Qaed, the chief executive of Bahrain’s information and eGovernment Agency, “the overall mapping and stringent guidelines developed by the World Economic Forum of how the governments must procure, set up Artificial Intelligence (AI) that as well as provides a perfect platform of learning opportunity and its proper acquisition, optimum utilization as well deployment of the technology”.
Bahrain has come a long way in bracing up the positives from AI arena, on the future of procurement of artificial intelligence waves created in the public sector, as it hosted a 3 days World Economic Forum workshop organized by WEF’s Centre for the Fourth Industrial Revolution (C4IR) and in equal affiliation with Bahrain’s Economic Development Board and the Information & eGovernment Authority who are primarily responsible for being the powerhouse of Bahraini government’s cloud-first policy.
Mr. Al Qaed also stated that according to WEF guidelines “that has come into picture from perfect input as provided from field-based experts that as well as placing a perfect platform for having an innovative and safer method of procurement process and putting it to optimum utilization as well as sharing various benefits garnered in by Science and technology for the society”.
It followed up with WEF’s Annual Meeting of the New Champions at Dalian, China, in July, where Bahrain announced to host a pilot platform with the latest guidelines put in place for the procurement of AI in the public sector, produced by C4IR.
That time, it was predominantly a joint announcement done in tandem with WEF and the Bahrain Economic Development Board – the public agency entrusted with the responsibility of attracting investment to the country’s socio-economic development.
Eddan Katz, project lead – AI and machine learning – for WEF’s C4IR stated that “Bahrain’s public sector positive acceptance and equally enthusiastic vibe for overall socio-economic development as per the anticipatory norms is quite on the impressive side.”
Khalid Humaidan, chief executive of the Bahrain EDB, stated that “Bahrain is a global leader for testing, governance and as well regulation of latest technologies thus making it an ideal partner for the coveted WEF project.”
He also added to this point that “with the overall negative hype created over AI, Governments across the world would be hesitant to adopt the AI and reap in the benefits more than its drawbacks and how to reap optimum benefit is by working in tandem and thereby creating a model truly powering public sector into next-generation technology powerhouse”.
As per the report generated by consultancy PwC, Bahrain’s adoption of AI technology can thereby support its economic growth forum as its GDP would surge by 8.2 percent by the year 2030.