Report: UAE AI market to reach $46.33 billion by 2030
Nation targets AI-powered economy with multi-billion-dollar investments
#UAE #economy – The UAE’s artificial intelligence market is on track to grow from $3.47 billion in 2023-2024 to a staggering $46.33 billion by 2030, according to a new report from Abu Dhabi-based Trends Research & Advisory. The nation’s AI strategy, backed by government-led initiatives and private sector investments, aims to contribute 14% to the country’s GDP — approximately $100 billion — by 2030.
Recent investments noted by the report includes a $30 billion AI infrastructure partnership between BlackRock, Microsoft, and Abu Dhabi fund MGX, a $1.5 billion Microsoft investment in AI-powerhouse G42, and a $1 billion workforce development fund to upskill AI talent. With vibrant innovation hubs, strategic public-private partnerships, and forward-thinking AI legislation and policymaking, the UAE is accelerating its transition into an AI-driven economy.
SO WHAT? – The UAE is not simply accelerating its adoption of AI, but leading in AI innovation and development, leveraging massive investments and regulatory frameworks to position itself as a global hub for artificial intelligence. The government believes that the resulting growth will drive economic diversification, job creation, and increased global competitiveness.
Here are some key conclusions and facts from the new report:
Abu Dhabi-based Trends Research & Advisory has published a new report “The Economic Impact of Artificial Intelligence in the UAE”.
According to the report, the UAE’s AI market is expected to surge from $3.47 billion (2023-2024) to $46.33 billion by 2030.
AI is forecasted to contribute $100 billion (AED 367 billion) to the UAE’s GDP by 2030, representing approximately 14% of total GDP, in comments attributed to the CEO of UAE-based technology company Astra Tech.
The report attributes the UAE’s strategic leadership in in global AI innovation to:
Pioneering AI Research and Development (R&D)
Forging Public-Private Partnerships
Empowering Startups and Entrepreneurship
Building AI Talent Through Comprehensive Educational Programs
A Robust Legislative and Ethical Framework
An Innovation Hub for AI Testing and Deployment
Dubai AI Campus: A Strategic Milestone in Shaping the Digital Economy
The new report also points to the UAE’s efforts to ensure ethical and responsible use of artificial intelligence via such laws, regulations and programmes as:
The UAE Ethical Charter of Artificial Intelligence
Federal Law on Data Protection (Federal Decree-Law No. 45 of 2021)
The UAE Artificial Intelligence and Digital Economy Council
The UAE Cybersecurity Strategy:
According to PwC estimates quoted in the report, AI could contribute $96 billion to the UAE’s GDP by 2030, representing about 13.6% of the country’s total GDP. AI’s contribution to UAE GDP is underpinned by the following sectors:
Healthcare
Finance
Retail & E-commerce
Energy & Utilities
The report concludes that “the UAE’s strategic investments in artificial intelligence are set to yield significant economic benefits while positioning the nation as a leader in this transformative technology.”
REPORT TIMING – The report on The Economic Impact of Artificial Intelligence in the UAE was released by Trends Research & Advisory on the last day of Ai Everything Global, which took place in Abu Dhabi and Dubai from February 4th to 6th.
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