The Emirate attracted $21.6 billion in artificial intelligence (AI) foreign direct investments (FDI) between 2015 and 2018 with the most from the European Union and the US.
Dubai ranks first globally in attracting artificial intelligence and robotics FDI, while the UAE ranked sixth in the global Smart Service Index, surpassing the US, UK and South Korea.
AI adoption will account for 45 per cent of the world economy’s total gains by 2030 and the UAE expects 34 per cent annual growth of AI contribution to the economy, Saudi Arabia expects 31 per cent and the GCC region projects a 29 per cent annual growth of AI contribution to the region’s economy.
Dawood Al Shezawi, the CEO of Annual Investment Organising Committee, said, “Digital growth is significant to the growth of the economy, in the UAE it is in line with UAE Vision 2021, which aims to position the country as a top spot for tech investments.”
The organisers of the Annual Investment Meeting (AIM 2019) said that digitalisation is becoming an increasingly important part of globalisation, and the fact that Dubai ranks on the top position for artificial intelligence and robotics confirms that the city is fast emerging as the global destination for investment in smart technologies.
“Disruptive technologies like AI, blockchain, internet of things (IoT) boost the productive capacity of countries and also the global GDP,” added Al Shewazi.