Artificial intelligence (AI) could provide a significant economic contribution to the regional economy, a new study has shown.
According to research by consultancy PwC, AI will contribute about $320 billion to the Middle East’s economy by 2030. This is equivalent to 11% of the region’s GDP.
PwC noted that the U.A.E. is poised to gain the most from AI, with the use of technology contributing almost 14% of the country’s GDP by 2030. Saudi Arabia came second with AI expected to contribute about 12.4% while the rest of the GCC countries will see a contribution of 8.2% to their economies. In Egypt, AI is expected to contribute nearly 7.7% by 2030.
The contribution of AI to the economies of the U.A.E. and Saudi Arabia are on par with economies in Southern Europe and developed Asia.
Read more at: www.forbesmiddleeast.com