The United Arab Emirates (UAE) and Saudi Arabia have long-enjoyed abundant hydrocarbons reserves, granting them a prominent place in world markets and a strategic position in regional and global geopolitics. However, both countries have found it harder than less well-endowed countries to diversify their economies and boost productivity growth. Today, the countries face a mixed outlook, with real GDP growth set to grow slower than in the past decade. Artificial Intelligence (AI) could help to boost diversification and growth in the next decade, and governments in both countries are keen to seize the opportunity.
Scaling Up: The Potential Economic Impact of Artificial Intelligence in the UAE and Saudi Arabia is an Economist Intelligence Unit report, commissioned by Google, that looks at how AI could bolster the economies of the UAE and Saudi Arabia.
The report was launched at the AI Everything summit, an event hosted by the UAE’s National Program for Artificial Intelligence, with Smart Dubai being the event’s Strategic Partner. The AI Everything Summit is a culmination of the UAE and the world’s mission to promote initiatives, collaborations, partnerships and breakthroughs in the field of AI, and to foster positive impact on governments, businesses, social enterprises and humankind.Supported by an extensive literature review and interview programme with local experts, the report answers three key questions:
1. How could AI affect future economic growth in the UAE? Three sets of GDP forecasts out to 2030, based on different policy scenarios.
2. What specific opportunities will AI provide, to drive economic growth? A set of priority use cases for AI, across 4 key industries.
3. To unlock growth, what policy actions are needed? A playbook of policy recommendations, across six key areas.
