It aims to speed up government's performance and create a conducive and creative environment with high productivity
According to a recent report, Artificial intelligence (AI) might help accelerate the UAE's gross domestic product by 35 percent by 2031. AI is going to be a big game changer in the UAE's economy.
The report highlights that the UAE's AI approach will produce an annual economic return, in many sectors, of around AED22 billion, through raising individual productivity by 13 percent, saving 396 million hours annually from commuting, reducing transportation costs by 44 percent, which is equivalent to AED900 million.
Governments and businesses across the Middle East are beginning to realize the global transition towards AI and advanced technologies
"Fourth Generation of the Industrial Revolution," most notably artificial intelligence, AI, will not be restricted by cost, consumption, production and productivity, and will achieve major economic growth through smart investment in various sectors, based on many international studies that predict that the UAE will become the global centre of AI by 2030, told the Ministry of Economy.
The technology will also diminish the emission of carbon and environmental pollution by 12 percent, which will save AED 5.1 billion to the government.
Overall, the AI technologies will cut the government's annual spending by 50 percent, through reducing the number of paper-based transactions and saving millions of hours that are wasted annually when completing these transactions, as per the Ministry of Economy.
Last year in October, the Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, announced the launch of the "UAE Strategy for Artificial Intelligence," a major initiative within the UAE Centennial 2071 objectives, which is the first of its kind in the region.
The world is swiftly moving towards AI and in these early stages of development, there is an opportunity for the region to become a key player in the global agenda 2030.