Dubai attracts over $21bn foreign investment in AI, robotics

MAGNiTT News arabianbusiness.com - 1 year ago - Thu, Mar 14, 2019, 6:16 AM

Dubai attracts over $21bn foreign investment in AI, robotics
Author: MAGNiTT

By: Sam Bridge / Arabian Business

 

SOURCE: Arabian Business - Dubai attracts over $21bn foreign investment in AI, robotics


Dubai said to rank first globally in attracting FDI for AI, with the most coming from Europe and the United States

Dubai has attracted more than $21 billion of foreign direct investment (FDI) for artificial intelligence and robotics project between 2015 and 2018.

Dubai ranked first globally in attracting FDI for AI, with the most coming from the European Union and the United States — $5.7 billion and $3.9 billion respectively.

While AI adoption will account for 45 percent of the world economy’s total gains by 2030, the UAE ranks first in the Arab world in terms of expected annual growth of AI's contribution to the economy at 33.5 percent, followed by Saudi Arabia at 31.3 percent, the rest of the GCC region at 28.8 percent and Egypt at 25.5 percent.

These figures were released in connection with Annual Investment Meeting (AIM 2019), which will be held from April 8-10 in Dubai.

The organisers of AIM said that digitalisation is becoming an increasingly important part of globalisation, and the fact that Dubai ranks top confirms that the city is fast emerging as the global destination for investment in smart technologies.

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