Techs to The Rescue in the UAE’s Outburst to Non-Oil Economy
Techs to The Rescue in the UAE’s Outburst to Non-Oil Economy

Techs to The Rescue in the UAE’s Outburst to Non-Oil Economy

6 june, 20221 minute to read
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It is the oil economy gains that gave a way to digital economy, boosted by public and private investment in artificial intelligence capabilities. This link highlights a path the UAE has travelled since 2017, by establishing first government ministries for AI technologies. From 2015 to 2018 (when the UAE refocused on technology) Dubai booked $21.6bn in technology transfers.

Thus, the UAE embarks on an education and retooling campaign to transform the economy into an AI powerhouse with machine learning and autonomous robots.

In a national strategy document Omar Al Olama, Minister of State for Digital Economy, AI and Remote Working System, sets out the country’s plans to invest in robust data infrastructure. The so-called «AI plan» is due to add Dh335 billion (ca. $91bn) to annual GDP by year 2031 by establishing new types of business and the upgrade of work efficiency due to the forcing chores being replaced by added value effort.

Unicorn-calibre exits of Souq to Amazon and Careem to Uber have already validated the technological potential of the UAE. Besides, the success of Abu Dhabi Global Markets and the Dubai International Financial Centre grew from creating the sandbox that allows market players, FinTech and software developers to have access to, enabling them to test the capabilities of their innovations.

For AI, that meant coining a data-sharing programme for every city or state agency to have an open access to shared and standardised data collected through a set data standard. Moreover, the plan emphasizes education at every level, including management schooling for 4,000 UAE executives, immigration, transport and municipal facilities boosted by AI.

One of the companies on the way to implementing capabilities of this ambitious vision is G42, the biggest UAE-born cloud computing infrastructure in the MENA region. G42 is committed to unleashing the full potential of A, developing expertise in research and use of AI for both the public and private sectors.

6 june, 2022
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