AI to add $182bn to UAE economy by 2035

Artificial intelligence (AI) has the potential to boost economic growth in the UAE by 1.6%, adding $182 billion to the national economy by 2035, according to a recent report by Accenture. The report looked at 15 industries in the YAE and13 in Saudi Arabia to dtermine the potential sector-specific impact of AI on the economies of the Middle East. AI will have the greatest impact on the financial services, healthcare, and transport and storage industries, with increases of $37 billion, $22 billion and $19 billion, respectively, in their annual gross value added (GVA), which measures the output value of all goods and services in a sector. Even the labour-intensive sectors of education and construction will see increases of $6 billion and $8 billion, respectively, in their GVA over the same period, with AI enabling people to be more productive, thus leading to gains in profitability. The effects of AI will also be felt in Saudi Arabia, where it is expected to increase GVA by $215 billion.