Why AI is the key to the future

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Artificial intelligence is projected to become a key driver in the UAE’s economic growth within the next two decades, according to the findings of a new industry report.

Compiled by consulting firm Accenture, the report analysed 15 industry sectors including entertainment, finance and retail to project that AI could contribute AED 668 billion to the nation’s economy by 2035.

From virtual service agents to robotics and breakthroughs in machine learning, the technology’s implementation is expected to bring about improvements in all industry sectors, with financial services, healthcare, transport and storage and public services in the UAE set to see the most significant impact.

Financial services will see the biggest growth totalling AED 135 billion, due to the potential to automate roles in the sector including those of bank tellers, mortgage brokers and loan underwriters.

The transport industry will see a predicted growth of AED 69 billion, largely due to the rise in autonomous vehicles.

The data reinforces the UAE’s recent drive towards a more technological future with the launch of its nationwide Strategy for Artificial Intelligence.

Forming part of the Centennial 2071 objectives, the strategy aims to harness the potential power of AI across various sectors including healthcare, transport, education and renewable energy with a view to improving future infrastructure.

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