The current climate of AI support and investment is potentially a game changer for the global economy and specifically the Middle East, with several GCC nations leading the change.
The Middle East has been rapidly adopting AI making it top priority for both leading private and national governments to support their development and integration.
According to recent survey conducted by AIIA Network, 40% of industry professionals from leading government entities and enterprises in the region have allocated an AI budget of about $500,000 – $1 million and with 20% of the respondents’ allocated a budget of $1million and above.
Read: Business Leaders Love AI. In Theory, That Is
The top three applications for investment included data analytics, machine learning and managing administrative workflow.
Artificial Intelligence Summit
Foreseeing the potential of AI in the market, IQPC MENA will host the anchor event supported by the Department of Health – Abu Dhabi, aiming to dive deep into the variety of AI applications that enables businesses in the region to set themselves apart from competition, uncovering revolutionary use cases and answering the painful questions stopping organisations from stepping into their AI journeys.
Read: Challenges and Value that AI will create for Businesses
Taking the UAE’s recently-launched AI Strategy 2031 objectives into consideration, the summit takes place at the most pertinent time. Ayusha Tyagi, Managing Director at IQPC MENA comments, saying: “Meeting the needs of a rapidly-growing market in this era requires policymakers and companies to embrace new thinking, dynamic collaborations and the latest disruptive technologies to make the Middle East a leader on the global stage. According to our recent survey, our attendees saw the rationale behind adopting AI is to improve customer satisfaction, drive innovation and reduce operating costs. With the opportunity to create whole new, innovative services and business models, we believe AI is a technology set to change the entirety of the Middle East.”
The sessions are designed to ensure the AI Week works with the governments and private organisation’s key focus sectors and will deliver a packed and stimulating programme for the attendees.
