AI to contribute 14 percent to UAE’s GDP by 2030, raise productivity by 50 percent: Minister

 

The UAE expects artificial intelligence  to contribute 14% to the country’s gross domestic product GDP by 2030. Moreover, AI will increase productivity by 50% stated Omar Sultan Al Olama, minister of state for artificial intelligence, digital economy, and remote work applications during his participation in the Digital Readiness Retreat. 

Al Olama also expected the economic returns of AI to reach $320 billion in the Middle East, underscoring the potential and opportunities of this technology to change the landscape of sectors and economies around the world and redefine jobs, skills and qualifications.

While AI holds great potential to increase productivity and contribute to the UAE’s economic growth, Al Olama highlights some of its most prominent challenges. Using deep fakes, $25 million was stolen from a global company, and AI facilitated the rapid production of thousands of toxic compounds in less than six hours, he said as an example.

However, factories globally save millions of dollars by significantly reducing costs through AI. Moreover, companies across the UAE have achieved a commercial value of AED1.84 billion by leveraging AI techniques. 

In addition, the Environment Agency in Abu Dhabi utilized AI to monitor soil and verify the quality of 250 sites covering an area of 3.8 million square meters in just 50 days. This underscores the importance of using AI responsibly to benefit communities and enhance human safety.