Wednesday , October 23 2019

UAE’s investment in AI hits $2.15bn in 10 years

Dubai / WAM

The UAE is the second highest regional investor in artificial intelligence (AI) over the past 10 years, investing $2.15 billion in total, according to the AI Maturity Report in the Middle East and Africa (MEA), a new study commissioned by Microsoft and conducted by Ernst & Young (EY).
“The bulk of this investment went towards social media and Internet of Things (IoT) transactions. This was followed by notable spend across a further 8 technologies, including smart mobile, gamification, and machine learning,” the report said.
In fact, respondents ranked machine learning as the most useful AI technology, with primary emphasis placed on decision support solutions. This was followed by smart robotics and text analysis, where customer interactions were key focus.
The new research shows the state of AI within businesses across the UAE is expected to improve dramatically over the next three years, particularly as a growing number of executives look to AI to drive their digital agendas. Already, 18 percent of businesses in the country consider AI their most important digital priority. Mu-ch of UAE’s progress in elevating AI agenda is direct result of leaders across the country recognising that the technology is quickly becoming a key differentiator across all sectors and actively pursuing their AI agendas accordingly.

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