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AI to add $182 billion to UAE Economy by 2035
MAGNiTT News cpifinancial.net - 2 years ago - Mon, May 21, 2018, 9:43 AM
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By Jessica Combes / CPI Financial
SOURCE : CPI Financial - AI to add $182 billion to UAE Economy by 2035
These figures were revealed in a recent report by Accenture, which looked at 15 industries in the UAE and 13 in Saudi Arabia to determine the potential sector-specific impact of AI on the economies of the Middle East.
The research found that in the UAE, AI will have the greatest impact on the financial services, healthcare, and transport and storage industries, with increases of $37 billion, $22 billion and $19 billion, respectively, in their annual gross value added (GVA), which measures the output value of all goods and services in a sector.
Even the labour-intensive sectors of education and construction will see increases of $6 billion and $8 billion, respectively, in their GVA over the same period, with AI enabling people to be more productive, thus leading to gains in profitability.