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Artificial intelligence to boost UAE GDP by US$ 96 Billion by 2030

Artificial intelligence to boost UAE GDP by US$ 96 Billion by 2030

Banking & FinanceMore NewsUAE

Rapid adoption of artificial intelligence (AI) solutions are predicted to increase the UAE’s GDP by US$ 96 billion by 2030, enabling organisations to better meet and predict customer and citizen trends and drive digital business innovation.

As the UAE Strategy for AI guides nationwide transformation, AI and machine learning are entering the mainstream. PwC predicts that AI will contribute US$ 96 billion in UAE GDP by 2030.

By industry, Accenture says finance (US$ 37 billion), healthcare (US$ 22 billion), and transport and storage (US$ 19 billion) will see the biggest growth by 2035.

“AI solutions can enable new innovations that can augment the existing workforce, optimising costs, efficiency, and innovation. Banks can analyse credit and loan repayments, hospitals can predict patient treatment success, and government agencies can enhance mega-events management,” said Savitha Bhaskar, COO at Condo Protego, the UAE-based IT infrastructure and information management consultancy and solutions provider.

However, AI on its own is not enough. Organisations also need to have in place the next step, machine learning, where machines or applications learn from massive data sets, and uncover patterns that are largely beyond what people could uncover themselves.

“AI and machine learning solutions should meet business needs, and not merely have futuristic technology for technology’s sake. The massive computing power needed for AI and machine learning also means that organisations need to invest in high-performance information management infrastructure,” said Bhaskar.

Condo Protego is seeing strong UAE demand for Dell EMC high performance computing solutions, for faster, better, and deeper insights. Specialised channel partners can help organisations choose the infrastructure solutions that best meet their needs, across workstations, servers, networking, storage, software and services.

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