New York Tech Media
  • News
  • FinTech
  • AI & Robotics
  • Cybersecurity
  • Startups & Leaders
  • Venture Capital
No Result
View All Result
  • News
  • FinTech
  • AI & Robotics
  • Cybersecurity
  • Startups & Leaders
  • Venture Capital
No Result
View All Result
New York Tech Media
No Result
View All Result
Home AI & Robotics

Robots, big data as Gulf nations bet on AI

New York Tech Editorial Team by New York Tech Editorial Team
November 17, 2021
in AI & Robotics
0
Robots, big data as Gulf nations bet on AI
Share on FacebookShare on Twitter
Gulf countries are investing heavily in artificial intelligence as they seek to move away from their reliance on fossil fuels
Gulf countries are investing heavily in artificial intelligence as they seek to move away from their reliance on fossil fuels.

Robots puttering around Dubai’s hi-tech Expo site could be a sign of things to come for the Gulf, where new cities are being built from scratch with artificial intelligence at their core.

The 5G-enabled Expo, covering an area twice the size of Monaco, will remain as a “city of the future” and tech industry hub, Expo’s chief told AFP before its grand opening last month.

But the $7 billion project, featuring robots that greet visitors and can be used to order food, is not alone in the wealthy Gulf, where petro-dollars are being invested heavily in a post-oil future.

Neighbouring Saudi Arabia is lavishing $500 billion on NEOM, a brand new, next-generation Red Sea tech centre that will offer ultra-connectivity to its planned population of one million-plus, and is trialling airborne taxis.

AI is also at the heart of other Saudi developments including the Red Sea Project, a new tourist area that will use smart systems to monitor environmental impacts and visitor movements.

Analysts say the Gulf monarchies are willing to bet big on AI, knowing they must move away from their reliance on fossil fuel industries and become more active in tech, tourism and other areas.

“You’ve got very forward (-looking), somewhat risk-loving leadership that sees the need to transform,” said Kaveh Vessali, a partner at consultancy firm PwC Middle East.

“I think that’s just completely the opposite of what I see in the rest of the world.”

Automated transport

Artificial intelligence courses in Bahrain primary schools, the UAE’s plans for automated delivery drones and Dubai’s ambition to have 25 percent of all transport automated by 2030 offer further evidence of the Gulf’s tech aspirations.

Gulf countries are playing the long game on AI, positioning themselves to leapfrog global players, according to analysts
Gulf countries are playing the long game on AI, positioning themselves to leapfrog global players, according to analysts.

The Middle East is predicted to receive only two percent of the estimated $15.7 trillion global AI economy by 2030, according to PwC.

But analysts say the Gulf countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE—are playing the long game, positioning themselves to leapfrog global players.

The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE and then Saudi Arabia, PwC said in a report, predicting that more than 10 percent of each of the two countries’ GDP will come from AI by 2030.

“Governments have the luxury of being more strategic,” said Vessali, citing the 20 and 50-year plans which are a hallmark of Gulf governments.

“This is unheard of a) in the private sector, and b) in the West,” he adds.

Vessali said most AI companies in Gulf states are fully, or at least semi, governmental, with comparatively low pressure to generate short-term returns.

However, the region has a history of investing in companies which did not become particularly profitable, outside a few core industries such as oil and gas, he warned.

‘Streamlined’ decision-making

While the region might be known as culturally conservative, its AI strategies are better characterised as liberal and aggressive, according to some local players.

In 2017, the UAE appointed its first minister of state for artificial intelligence, Omar bin Sultan al-Olama, to spearhead the country’s AI strategy, launched that same year.

While the region might be known as culturally conservative, some local players say its AI strategies are better characterised as
While the region might be known as culturally conservative, some local players say its AI strategies are better characterised as liberal and aggressive.

The UAE has said it aims to become one of the leading nations in AI by 2031, creating new economic and business opportunities, and generate up to 335 billion dirhams ($91 billion) in extra growth.

“The region seems to classify being left behind on new technologies as a bigger risk than anything else,” said Cesar Lopez, the CEO of Datumcon.

“Taking the risk to do what others aren’t has attracted and built business,” he told AFP.

The data and AI solutions company based in the UAE and Saudi Arabia is using computer vision to scan and identify damaged containers at Jebel Ali port in Dubai, one of the world’s busiest, operated by logistics company DP World.

But despite the Gulf’s AI investments, the lack of reliable and accessible data sets, which are at the core of these systems, remain a barrier.

“It’s going to take a few years to get there because the data isn’t mature enough for it yet (in the region),” said Stephen Rawson, an associate at American consulting firm Oliver Wyman.

While Gulf countries have been better at centralising data across different governmental platforms, other leading countries have managed better data sets for longer.

But being newer to data collection has its advantages, said Rawson, as Gulf countries can generate cleaner data to create more streamlined AI systems.

“They are empowered to do this more than they would be in the West,” said Rawson, because with private enterprises, “getting them to work and play nice will only work if there’s a profit margin incentive for all of them.”


Saudi to invest $20 billion in AI by 2030


© 2021 AFP

Citation:
Robots, big data as Gulf nations bet on AI (2021, November 17)
retrieved 17 November 2021
from https://techxplore.com/news/2021-11-robots-big-gulf-nations-ai.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.


Credit: Source link

Previous Post

Dubai Airshow 2021: UAE venture capital fund targets overseas SMEs

Next Post

Belmonte afterschool robotics program thriving in Saugus

New York Tech Editorial Team

New York Tech Editorial Team

New York Tech Media is a leading news publication that aims to provide the latest tech news, fintech, AI & robotics, cybersecurity, startups & leaders, venture capital, and much more!

Next Post
Belmonte afterschool robotics program thriving in Saugus

Belmonte afterschool robotics program thriving in Saugus

  • Trending
  • Comments
  • Latest
Meet the Top 10 K-Pop Artists Taking Over 2024

Meet the Top 10 K-Pop Artists Taking Over 2024

March 17, 2024
Panther for AWS allows security teams to monitor their AWS infrastructure in real-time

Many businesses lack a formal ransomware plan

March 29, 2022
Zach Mulcahey, 25 | Cover Story | Style Weekly

Zach Mulcahey, 25 | Cover Story | Style Weekly

March 29, 2022
How To Pitch The Investor: Ronen Menipaz, Founder of M51

How To Pitch The Investor: Ronen Menipaz, Founder of M51

March 29, 2022
Japanese Space Industry Startup “Synspective” Raises US $100 Million in Funding

Japanese Space Industry Startup “Synspective” Raises US $100 Million in Funding

March 29, 2022
UK VC fund performance up on last year

VC-backed Aerium develops antibody treatment for Covid-19

March 29, 2022
Startups On Demand: renovai is the Netflix of Online Shopping

Startups On Demand: renovai is the Netflix of Online Shopping

2
Robot Company Offers $200K for Right to Use One Applicant’s Face and Voice ‘Forever’

Robot Company Offers $200K for Right to Use One Applicant’s Face and Voice ‘Forever’

1
Menashe Shani Accessibility High Tech on the low

Revolutionizing Accessibility: The Story of Purple Lens

1

Netgear announces a $1,500 Wi-Fi 6E mesh router

0
These apps let you customize Windows 11 to bring the taskbar back to life

These apps let you customize Windows 11 to bring the taskbar back to life

0
This bipedal robot uses propeller arms to slackline and skateboard

This bipedal robot uses propeller arms to slackline and skateboard

0
New York City

Why Bite-Sized Learning is Booming in NYC’s Hustle Culture

June 4, 2025
Driving Innovation in Academic Technologies: Spotlight from ICTIS 2025

Driving Innovation in Academic Technologies: Spotlight from ICTIS 2025

June 4, 2025
Coffee Nova’s $COFFEE Token

Coffee Nova’s $COFFEE Token

May 29, 2025
Money TLV website

BridgerPay to Spotlight Cross-Border Payments Innovation at Money TLV 2025

May 27, 2025
The Future of Software Development: Why Low-Code Is Here to Stay

Building Brand Loyalty Starts With Your Team

May 23, 2025
Tork Media Expands Digital Reach with Acquisition of NewsBlaze and Buzzworthy

Creative Swag Ideas for Hackathons & Launch Parties

May 23, 2025

Recommended

New York City

Why Bite-Sized Learning is Booming in NYC’s Hustle Culture

June 4, 2025
Driving Innovation in Academic Technologies: Spotlight from ICTIS 2025

Driving Innovation in Academic Technologies: Spotlight from ICTIS 2025

June 4, 2025
Coffee Nova’s $COFFEE Token

Coffee Nova’s $COFFEE Token

May 29, 2025
Money TLV website

BridgerPay to Spotlight Cross-Border Payments Innovation at Money TLV 2025

May 27, 2025

Categories

  • AI & Robotics
  • Benzinga
  • Cybersecurity
  • FinTech
  • New York Tech
  • News
  • Startups & Leaders
  • Venture Capital

Tags

3D bio-printing acoustic AI Allseated B2B marketing Business carbon footprint climate change coding Collaborations Companies To Watch consumer tech crypto cryptocurrency deforestation drones earphones Entrepreneur Fetcherr Finance Fintech food security Investing Investors investorsummit israelitech Leaders LinkedIn Leaders Metaverse news OurCrowd PR Real Estate reforestation software start- up Startups Startups On Demand startuptech Tech Tech leaders technology UAVs Unlimited Robotics VC
  • Contact Us
  • Privacy Policy
  • Terms and conditions

© 2024 All Rights Reserved - New York Tech Media

No Result
View All Result
  • News
  • FinTech
  • AI & Robotics
  • Cybersecurity
  • Startups & Leaders
  • Venture Capital

© 2024 All Rights Reserved - New York Tech Media