5 Jul 2023
  

Dubai Centre for AI Can Fuel $110 Billion| More Innovations Are on the Way

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Shivani Singh

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With the launch of the AI Dubai Centre by the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid AI Maktoum, there will be more opportunities for growth as the initiative will support more than 20 local and global advanced technology startups. 

While deploying Artificial Intelligence (AI), Dubai’s government will become the best in the world and develop future services that keep pace with rapidly changing needs and technological advancements. Harnessing AI Dubai will bring some tangible benefits across all industry verticals. 

Among several initiatives launched by the city to become a smart one, this one can shape the future and bring a lot more growth and inspiration to various cities worldwide in adopting technologies and innovations. 

Now, let’s learn more about AI, its exceptional benefits, and what led Dubai to fuel the $110 billion AI industry. So, let’s get started!

How is Dubai Turning into a Smart City with AI?

No denying the fact that Dubai is a city that is always at the forefront of cutting-edge technology. The city’s infrastructure enables a robust and solid foundation for deploying and integrating some trending technologies. 

Some futuristic projects like the Dubai Smart City, the Dubai Autonomous Transportation Strategy, the Dubai Internet City, the Dubai Blockchain Strategy, and the Dubai AI Strategy utilize innovations in various sectors. With AI, here is how Dubai is improving every aspect of city life. 

The City of Innovation

  • Dubai Police’s “Oyoon” is an AI-enabled system that identifies criminal activity before it happens using predictive analytics and facial recognition. The effectiveness of this system is recognized by the reduction of crime rates in Dubai by 20%.
  • With the motive to enhance the passenger experience in airports, AI Dubai builds a “smart tunnel” that streamlines the boarding process using biometric facial recognition. The impact of this integration is the boarding time gets reduced by 9 minutes per flight. 
  • Even the hospitals in Dubai are using AI for improved healthcare with robots that can assist with surgeries, treat children with autism, and monitor patient health. 
  • Dubai has alone 223 AI startups, bringing into focus the support that the government wants to extend in this field.
  • With the setting up of the Ministry for AI in 2017, the city has already made a significant move against the competition worldwide. 
  • UAE became the first choice for AI technology talents and companies globally, with an initiative brought in by Shaikh Mohammad Bin Rashid Ali Maktoum in January 2020. 

That’s not it!

In many more ways, AI Dubai is bringing some exceptions worldwide and building a better tomorrow. 

Stats showing AI Adoption Across Several Industries in Dubai

The city is deploying AI to improve critical areas, which, further on, leads to the growth of the AI market in the Middle East. Unveil the stats to know more: 

Stats and Reveal How AI & Dubai

  • We can expect the growth of the AI market in the Middle East from $500 million in 2020 to $8.4 billion by 2026.
  • According to Protiviti Middle East, more than 70% of CEOs are investing in AI, and 80% believe in the importance of AI for the future. 
  • Artificial Intelligence can bring some largest contributions to the economy of the Middle East with 37 billion US dollars by 2035.  
  •  UAE AI in healthcare is likely to reach $0.72 billion by 2030, with a CAGR of 46.22%. 
  • The global AI market can reach $1,811.8 billion by 2030.
  • We can see some winning results in AI, with a growth of 38% CAGR from 2021 to 2030. 
  • AI can lead to an increase in the productivity level by 40%. 
  • Globally, there will be 8 billion AI-enabled voice assistants by 2030. 

Top AI Trends in MENA Region that You Should Not Ignore!

Now that you have learned what makes the Middle East a pioneer or an early adopter of the latest AI technology, it’s time to learn about some top-notch AI tech trends leading to the growth and expansion of the city. 

With AI taking the entire realm of the Middle East to another level, lots of innovative solutions have come front that AI enthusiasts simply cannot ignore. So what are these trends? Let’s find out in this section. 

AI Tech Trends

  • Automation of the Fintech Industry

Yes, we can see some biggest opportunities in the fintech industry. All thanks to the AI amalgamation in Fintech app development. As per a report by International Data Corporation, a $28.3 million investment has been made to develop more robust and high-graded AI solutions. 

What’s more?

The disruption in the Middle East has encouraged the use of chatbot technology and improved the communication interfaces between financial institutions and users. With the integration of AI, startups can manage funding at an extensive scale. Consider meeting the fintech app development company if you want to create a robust fintech solution using AI. 

  • Adoption of Emotional AI

Another leading trend that is ruling over the market of the Middle East is the adoption of emotional AI app development by budding entrepreneurs, enterprises, and businesses of all sizes and domains. 

Wondering what is Emotional AI?

Emotional AI can modify, sense, and communicate with various human emotions. Even it can learn consumer behavior using verbal and non-verbal interactions. To understand kinds of human emotions, the solutions consider the conversation AI and technical cameras. The more exciting thing is we can see a $14 billion GVA by 2035. 

  • AI in Robotics

Not just a sensation in Dubai, but robotics is also growing rapidly worldwide, resulting in some top-notch solutions. As per a report, the market size of robotics can reach around 385.74 million dollars by 2025. Instead, we can see some rapid and dynamic performance of all robotics tools used for medical surgeries, education, and other purposes. 

So, don’t you think AI in robotics can add some value to Dubai?

Within a decade, the world will recognize the city as the AI Dubai because of its impact worldwide with its builds and some top-notch solutions. 

  • AI in Engineering

With the mass adoption of AI by startups and entrepreneurs in the MENA region, AI in engineering grows, and there will be better scalability and outcomes to develop tools, systems, and processes that enable the AI app in real-world contexts. 

Jaw-dropping, isn’t it?

The best results of AI engineering occur when you use Spotify, YouTube, or Netflix, where we will have customized suggestions based on our behaviors. Almost every industry, whether healthcare, self-driving cars, or others, is using AI engineering to get multiple benefits in their domains. 

  • AI in Transportation 

According to a report by Accenture, AI in the transportation industry can make $19 billion in growth by 2035. Here are some of the following ways the MENA region uses AI in transportation. 

  • No delays to passengers today with transportation companies integrating computing vision powered by AI. 
  • While cutting the operating cost, autonomous vehicles decrease overall financial expenditure. 
  • Drone taxis prevent accidents and traffic congestion. 

As the Middle East is integrating several technologies, your startup will definitely bloom. Don’t worry if you don’t have any means to be in this transformative world because an AI app built by a top mobile app development company in Dubai can put the stress away. 

Yes, when you have your own AI-enabled app, the chances to be a game-changer in the industry and provide a competitive spirit to others get higher. As our society and government are ready and willing to be a part of the future, what about creating an ever-lasting impact with an AI-enabled app?    

Sounds interesting, right?

Get in touch with our experts to learn more!

Also Read: How Much Does it Cost to Create a Mobile App In Dubai?

Why AI-enabled Apps Are the Right Choice for Businesses?

Even if you could not think of something great built with an AI, you can still fly above the skyline with your own AI-enabled apps. AI can grow revenue, enhance customer experience, and boost the operational efficiency of an organization.

How can you build an AI-enabled app? 

Just get support from some high-graded Techugo developers and resolve all your queries.

Some leading advantages of this technology are here: Growth with AI-enabled Apps

 

  • Productivity Gains 

The efficiency and productivity of businesses get increased when they utilize the power of AI that analyzes data, executes specific business processes, and creates software code. While it takes more effort and time for humans to do the task, AI reduces the same to some extent and simplifies everything. 

  • Personalized Customer Experience

Providing personalized customer experiences and services becomes hassle-free because of the benefit like predictive analysis that notifies entrepreneurs about the preferences and choices made by their end-consumers and how they are making the decision to buy specific services and products. By incorporating everything, businesses can provide users with products that suit their interests, personal style, and needs, thus going beyond the progressive milestone. 

  • Enhanced Services

Interactive, accurate, easier, and intuitive experiences that’s what AI offers to users. AI-enabled virtual assistants or chatbots can resolve every query users mostly ask at that exact moment. That’s why it ensures more enhanced or rapid services than ever before. Instead of clicking on different tabs and boxes, users can refine their searches for different products and services. 

  • Reduced Human Error

Robotic process automation ensures not only a reduction of human errors but also more vital adherence that speeds up processes and leads to a quality result. That’s not it; AI also prevents human errors by analyzing data without bias. Want more insights into the benefits of investing in an AI-enabled app? Book a consultation with our experts at Techugo

  • Improved Monitoring

What makes the monitoring stronger? Do you know that?

Don’t be worried! We will let you know. 

Identifying problems and predicting needed maintenance is one aspect that enhances monitoring. 

And guess what?

AI can help you do the same with its incredible features, capabilities, and effectiveness. If you want to enhance your business monitoring, what’s better than developing a digital solution with AI? 

  • Increased Profitability

How AI increases business profitability? This question comes to every entrepreneur’s mind. 

Right, isn’t it? You may also experience the same. Well, let us reveal the secret sauce of how AI can prove to be a profitable tech for your enterprise. 

As AI provides personalized services and aids in risk management while enhancing productivity, ensuring higher efficiency, and bringing new growth possibilities, the business soon witnesses the magic the tech spells. 

Instead, your profit will automatically rise when you are bringing value to your customers. 

  • Enhanced Speed of Business

As businesses are moving rapidly to create their own empire and conquer the competition around them, AI brings them everything they require for the supposed boost. According to Seth Earley, the author of the book “The AI-Powered Enterprise,” AI helps businesses move faster while reducing the time the business takes to move from one stage to the next. 

Due to this incredibility, AI delivers more immediate and better ROI

Why Choose Techugo for Your AI Project?

Now that you have explored every hidden concept, benefit, and characteristic of AI technology and how AI Dubai can impact business growth and lead the city toward some remarkable wins, it’s time you should consider meeting some experts who are proficient in the field and have relevant experience in turning the obstacles into the most positive results. 

So, are you ready to meet the same kind of experts at Techugo?

If yes, get in touch with our team at a top mobile app development company in UAE and bring results that will take your business ahead. 

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