A new study has found that with the development of artificial intelligence, the UAE’s economy will have a huge growth effect.
Artificial intelligence technology will boost the uae’s economy by 1.6 percent by 2035, contributing $182 billion to the uae’s economy, according to a new report by Accenture, an international professional consulting firm.
Research shows that the UAE’s most affected by artificial intelligence technology are the financial services industry, health care industry and warehousing, transportation industry, through the industry, the overall value of goods and services, the total output of three industries are expected to be the annual value-added income of 37 billion U.S. dollars, 22 billion U.S. dollars and 19 billion U.S. dollars.
The report also found that artificial intelligence would also add 6 billion of dollars and 8 billion of dollars to labour-intensive industries such as education and construction.
Meanwhile, in Saudi Arabia, artificial intelligence would add $215 billion to the GVA.
The findings come from the Middle East, particularly the united Arab emirates, which wants ai to move away from its reliance on oil revenues.
Last year, the UAE unveiled an artificial intelligence strategy that aims to increase government productivity and improve the performance of all official sectors.
The emirate of Dubai in the UAE has been at the forefront of automated processes. Dubai introduced the robot police, which aims to turn its nearly 25% patrol mission into a robot by 2030. The emirate has also begun testing the world’s first automatic taxi.
At the same time, Saudi Arabia recently granted its citizenship to robots, demonstrating its willingness to embrace artificial intelligence while developing non-oil economies.
Although the U.S.-led economic growth will be felt in all walks of life, the financial services sector is the biggest growth because much of its work can be significantly enhanced through artificial intelligence and machine learning.
Accenture’s analysis shows that some of the current functions in the financial services industry, such as bank tellers, loan officers, mortgage brokers, claims handlers, underwriters and other regular white-collar office work, can be effectively enhanced through artificial intelligence and machine learning.
In addition, Accenture’s report shows that global banking executives are taking action to change their business by using artificial intelligence.