According to a report by the Ministry of Economics, artificial intelligence will help increase UAE GDP by 20 percent by 2031.
The Ministry of Economics has published a report on the economic effect of investments in technology of the fourth generation of the industrial revolution, primarily artificial intelligence. Such technologies are not limited by price, consumption, production and productivity. According to the government, by 2030 the UAE intends to become a global center of artificial intelligence.
The report also notes that innovative technologies will reduce government annual spending by 50 percent by reducing the number of paper transactions.
The report also predicts that the UAE strategy in the field of artificial intelligence will result in an annual economic return in many industries of approximately 22 billion dirhams.
This result will be achieved by increasing individual productivity by 13 percent, saving 396 million hours a year on office trips, reducing transportation costs by 44 percent, limiting carbon dioxide emissions and environmental pollution by 12 percent, and reducing traffic accidents by 12 percent and parking needs by 20 percent by 2030.
The report predicts that the UAE will benefit from the development of artificial intelligence technologies not only in terms of improving the efficiency of economic projects, but also in terms of reducing the number of foreign workers, which will reduce the cost of financial transactions abroad.
Recall that in October, Sheikh Mohammed Ibn Rashid Al Maktoum, vice president, prime minister and ruler of Dubai, announced the launch of the UAE strategy in the field of artificial intelligence. Also, a special ministry has been established in the country for the development of artificial intelligence.
