Artificial intelligence to be top contributor in MENA

09/08/22

Artificial intelligence (AI) is estimated to contribute SAR 1.2 trillion (USD 320 billion) to the economic growth in the Middle East and North Africa (MENA) region by 2030.

The figures were derived from a Google report titled “The Future of AI in the MENA region”. It provides an in-depth analysis of developments in AI over the next decade, with a specific focus on Saudi Arabia, Qatar, Kuwait, United Arab Emirates and Egypt. The report examines the regions’ learning experiences, development trajectory and proposes pathways for implementing a safe and robust AI ecosystem.

Consequently, it explores current AI based investments and industry trends in tourism, transport, finance, retail, energy and government services. Overall, the report concludes that the region has taken the initiative in developing national AI strategies to create a friendly business environment. It also stressed that continuing to set innovative policies is essential to enhancing the artificial intelligence systems in the public and private sectors.

Therefore, a key initial development strategy is increasing the concept of depending on AI as the main factor in systems and businesses. It will ensure the acceleration and acceptance of digital transformation in the region. The available data in reports and publications contribute positively to the journey.

Demonstrating its commitment to the AI industry, the United Arab Emirates recently released the first National Strategy of Artificial Intelligence to increase the usage of AI technology in the future. It is in line with the international and regional approach and will help accelerate the implementation of AI.

Business Start Up Saudi Arabia has a network of subject matter experts and specialists to assist with activities throughout the lifecycle of a business in the Kingdom of Saudi Arabia. The activities include Market Research & Assessment Saudi Arabia, Saudi Arabia Business Case, Saudi Arabia Business Model Development, Feasibility Study / Business Plan Saudi Arabia, Organizational & Operational Structuring Saudi Arabia, Saudi Arabia Sponsorship & Partnership, Company Formation Saudi Arabia and many others.

Please click on the link to learn more about opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.

Other News

BSUS News 29 - Thumb

Saudi Arabia launches Rua Al Madinah Project

Saudi Arabia recently unveiled the Rua Al-Madinah masterplan - a mega real estate development near the Grand Mosque.

The project will be developed by the Rua Al-Madinah Holding Company,...

Read more
BSUS News 28 - Thumb

Demand for tourism services in Saudi Arabia soars

Saudi Arabia has witnessed demand for tourism services increase 108% according to a recent Business Traveler report.

Consequently, the value of tourism services reached SAR 4.1 billion (USD 1.1 billion)...

Read more
BSUS News 27 - Thumb

Saudi Arabia reports budget surplus from oil revenues

Saudi Arabia’s economy is predicted to grow at 7.6% this year according to the International Monetary Fund’s (IMF) World Economic Outlook 2022 report.

Its estimates for Saudi Arabia contradict the...

Read more
BSUS News 26 - Thumb

More investment in local industry under NIDLP

Saudi Arabia`s National Industrial Development and Logistics Program (NIDLP) invested SAR 378 billion (USD 100 billion) in local industry projects according to its 2021 report.

The program was introduced...

Read more
BSUS News 25 - Thumb

Saudi Arabia’s spending on health and education up

Saudi Arabia has increased its expenditure in the health and education sectors in the first half of 2022 according to recent figures published by the government.

These...

Read more
BSUS News 24 - Thumb

Saudi Arabia’s logistics sector is reaching out to the world

Saudi Arabia`s Ministry of Transport is developing the logistics sector to support the Vision 2030 program of social and economic reform.

Diversifying the economy away from hydrocarbons is an important...

Read more
BSUS News 22 - Thumb

Interest of foreign investors booms in Saudi Arabia

Saudi Arabia’s Ministry of Investment (MISA) facilitated over 100 investment contracts valued at SAR 15 billion (USD 4 billion) in the first quarter of 2022.

The investments will create over 5,800...

Read more
BSUS News 21 - Thumb

Public Investment Fund doubles down on gaming sector

Saudi Arabia’s Public Investment Fund (PIF) is doubling down on the gaming sector, making its fourth investment this year.

As part of the country’s economic diversification strategy in line with...

Read more

Page Break