Global Artificial Intelligence To Grow To $15.7 trillion In A Decade,UAE Anticipates

By Bukar Bolori 

United Arab Emirates has estimated the global market value of Artificial Intelligence would grow to $15.7 trillion in a decade.

The Arab country, which is targeting collaboration with Nigeria in this area, plans to use AI to boost her GDP by 35 percent and reduce government costs by 50 percent.

Speaking at a Webinar on Artificial Intelligence organized by the UAE Embassy with theme “Moving Ahead, The Future is Artificial Intelligence,” the country Ambassador to 

Nigeria, Dr. Fahad Obaid Al Taffaq said: “Artificial Intelligence is a wide-ranging tool that enables people to rethink how we integrate information, analyze data, and use the resulting insights to improve decision-making. 

“Artificial Intelligence can be seen in our everyday lives. Today most of us use navigation devises and computer search engines…..The benefits of AI are increasing year by year.”

He said: “In October 2017, the UAE Government announced the UAE Strategy for Artificial Intelligence. The strategy is billed as the first of its kind and is intended to achieve the UAE Centennial 2071 objectives, boost government performance, and establish itself as an incubator for AI innovation. Also, In 2019, the UAE launched the Mohammed Bin Zayed University of Artificial Intelligence….the first graduate-level….research-based Artificial Intelligence University in the world…..The UAE estimates that by 2030, AI will have a global market value of $15.7 trillion, boosting the UAE’s GDP by 35 percent and reducing government costs by 50 percent.”

He added that: “As I speak, the UAE is currently hosting the GITEX Technology Week 2020 in Dubai, with over 1200 innovative tech enterprises and startups from 60 countries participating and providing a Platform for International Technology Visionaries, Industry innovators and global investors to unlearn pre-COVID strategies, rethink and shift perspectives for the next set of opportunities that are arising in today’s world.”

The Ambassador, while welcoming the participants, which include Minister of Communications and Digital Economy, Isa Ali Pantami, Minister of State for Science and Technology, Mohammed Abdullahi, UAE’s Minister for Artificial Intelligence, Omar Bin Sultan Al Olama, among others to the Webinar, said: “This very important topic of Artificial Intelligence and its impact in our future. I hope that today’s panel session allows us to not only share ideas and explore potential areas for collaboration…but to also build on it. I look forward to hearing the meaningful discussions today.”

Both Nigeria’s Minister of Communications and Digital Economy, and Minister of State for Science and Technology disclosed that the Nigeria has made massive progress in Artificial Intelligence under the present administration and would be willing to work with the government Of UAE as well as other countries in this area.

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