1 November, 2020
UAE to Spend $73M for AI in 2020
The UAE may well end up spending nearly $73 Million in the year 2020 towards Artificial Intelligence.
According to a recent report by Technology research firm IDC, the UAE is expected to spend $73 Million in 2020 towards Artificial Intelligence (AI) technologies. This would be a 19.7% growth over the spending done in 2019.
The UAE is the highest spender in AI technology for the region. With this expenditure, the entire Middle East & Africa region is expected to touch $374 Million for the year 2020.
These numbers come hot on the heels of the UAE Government’s vision to make UAE the global capital of AI by 2030. The Government has also expressed that the future economic growth will be fuelled by the growth of digital technology and businesses.
As AI moves from planning to implementation stages, the change is evident in multiple aspects touching our daily lives. The healthcare industry, smart traffic systems, Government e-services and the recent contact tracing activities are all examples o how AI has helped shape our lives of late.
With the deployment of such AI-driven projects, both Dubai and Abu Dhabi have seen significant returns on their global rankings for smart cities. The recent IMD smart cities ranking index placed Dubai and Abu Dhabi within the top smart cities from around the world.
Not to be left far behind, the other Emirates of Ajman, Ras Al Khaimah, Fujairah, Umm Al Quwain and Sharjah are all investing in AI at a Government level, in order to improve their smart city rankings.