Goto

Collaborating Authors

 middle east economy


AI will add $400bn to Middle East economies by 2035

#artificialintelligence

Artificial intelligence (AI) could add $182bn to the United Arab Emirates (UAE) economy and $215bn to Saudi Arabia by 2035, according to a new report from Accenture. The report looks at 15 industries in the UAE and 13 in Saudi Arabia to determine the potential sector-specific impacts across the Middle East. The research finds that in the UAE, AI will have the greatest impacts on financial services, healthcare, and transport/storage, with increases of $37bn, $22bn and $19bn, respectively, in their annual gross value added (GVA), which measures the output value of all goods and services in a sector. Even labour-intensive sectors – such as construction and education – will see an increase of $8bn and $6bn, respectively, over the same period, with AI enabling people to be more productive, thus leading to gains in profitability. The effects of AI will be similarly dramatic in neighbouring Saudi Arabia, where it is expected to increase GVA by $215bn.