More Than $21 Billion Invested in AI and Robotics in Dubai

Published March 15th, 2019 - 06:39 GMT
The Emirate is in the top spot globally in terms of high-end technology transfers. (Shutterstock)
The Emirate is in the top spot globally in terms of high-end technology transfers. (Shutterstock)

Dubai has attracted more than $21 billion worth of foreign direct investments (FD) for artificial intelligence and robotics projects from 2015 to 2018.

The figure places the Emirate in the top spot globally in terms of high-end technology transfers.

The European Union and the US have attracted FDIs worth $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 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 8th to 10th April in Dubai.

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

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“Digital growth is significant to the growth of the economy. In the UAE, it is in line with UAE Vision 2021, which aims to position the country as a top spot for tech investments,” said Dawood Al Shezawi, CEO of Annual Investment Organizing Committee.

“Disruptive technologies like AI, blockchain, internet of things,IoT, boost the productive capacity of countries and also the global GDP. To maximize its benefits, countries need to integrate new avenues that will drive more investments in these solutions,” added Al Shezawi.

At the upcoming AIM, experts will highlight strategies and mechanisms for enhancing tech solutions to draw FDIs, in addition to highlighting internal and external incentives that encourage companies to adopt these solutions.

The three-day exhibition will also offer opportunities for governments and private organizations to launch and promote their projects to a vastly diverse audience.

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