AI is the New Entrant in Middle East's Economy

Chitra Mishra, Special EditorJust when we thought AI has done it all, the alpha technology added a new route to its propaganda in terms of economy building. AI is not just flowing vertically, but horizontally as well. It has been estimated that AI could contribute up to USD 15.7 trillion to the global economy in 2030, more than the current output of China and India combined. Of this, USD 6.6 trillion is likely to come from increased productivity and USD 9.1 trillion is likely to come from benefits to consumers.

In the wake of the fourth industrial revolution, governments and businesses across the Middle East are beginning to realize the global shift towards AI and advanced technologies. Now they have a choice to make between being a part of the technological disruption, or
being left behind. Given the extraordinary GDP of the region, and the consequent positive economic impact, being left behind is not an option for the Middle East IT market. It is estimated that the Middle East is expected to accrue 2 percent of the total global benefits of AI in 2030. This is equivalent to USD 320 billion.

The UAE, Saudi Arabia and Qatar, in particular, have demonstrated strong enthusiasm and commitment towards the development and implementation of AI technologies. Businesses in these parts of the region have been investing heavily in new technology, supported by governments as early consumers of the technology. Last October, Saudi Arabia became the first country to grant citizenship to a robot. But it isn't the only Middle East country making strides in AI. The UAE, as part of its plans to have robot cops and autonomous vehicles on its roads and in its skies surprisingly soon enough, has appointed a State Minister for AI- Omar bin Sultan Al Olama. This is what he said after taking the position, "In 10 years we will be the capital of AI in service and government. I also think we will be a hub for AI in the region".

The hype is real and we couldn't get our heads around the fact that there is very less about the torch bearers of this industry on the internet. Therefore, we proposed bring the budding AI startups that have held the charge for the Middle Eastern AI culture. These 10 Best AI Startups in Middle East have addressed few peculiar business as well as lifestyle problems.

Take a look and do let us know what you think.