UAE has always been keen in adopting new technologies to keep pace with the technological revolution sweeping the world. Apart from digitalization of essential services and online consumer portals to cater to the everyday lives, technology has touched upon all the main facets in the country.
As Dubai plans to change over from oil based economy to digital technology, new revenue streams are opening up to drive the country forward. By hosting major international events like the 2020 World Expo, Dubai has succeeded in highlighting its position as a technology hub in the Middle East.
AI & IoT technologies in the rise
UAE has made a giant step in moving ahead in the region in adopting Artificial Intelligence (AI) and smart technologies with the launch of the UAE Artificial Intelligence Network, comprising of academics, researchers and experts in the field of AI, which will further strengthen its position as a preferred destination for AI development, which in turn will leave its positive impact on all areas including business, life and government services.
Reports suggest that Global spending on smart technologies is likely to get a staggering $23 trillion by 2023. Middle East and Africa (MENA) region will spend around five per cent of it with UAE and Saudi Arabia will be spending around 60 to 70 per cent of this.
According to the reports of PricewaterhouseCoopers, AI will add up to $320 billion to the Middle East’s gross domestic product (GDP) by 2030, to make UAE the AI hub in the world. At present 34 % of the annual growth of Middle East is from AI applications. The rapid change of technology and its impact on key sectors involving strategic alliances and partnerships is all set to accelerate the adoption of AI across various sectors.
25 percent of all investments in 2021 will be channeled for the development of AI solutions, which in turn will affect businesses in a massive way in the near future. Though the industries in the Middle east are aware of the dramatic potential of AI technology that could change the business world on its head, there is still a need to develop more public awareness on the possibilities of AI technology and its effect in the overall economic situation of the country. Mena's AI market is forecast to generate $1.4B by 2025, which is all set to propel the development index to a higher level. Government is going all out to promote and tap the potential of this technology and to weave this into the mainstream policy. It will go a long way in ensuring global connectivity apart from ensuring greater collaboration between the public and private sector and realization of innovative goals and sustainability.
Technology influence in the country
Dubai is crafting smart city plans aggressively to make it one of the smartest cities in the world. The influence of technology is not just limited to free wifi, remote monitoring of public utility services or automated traffic light systems. Technology is now being created to monitor infrastructure, such as power grids or designing futuristic cities based on 3D simulations. Digital technology has been exploited to improve the lives of its citizens and make essential services more efficient and sustainable. The fact that Dubai Government already has saved $1.17bn through shared smart services itself is the proof of the possibilities that technology has in store for UAE and how it is being tapped to make the happiest place on earth for its citizens. Dubai is leveraging technology to not just leave its mark on the digital map of the world but to make the essential services more efficient and the lives of its citizens happy and hassle free.
IT jobs & internet city
Dubai Internet City ( DIC), a free economic zone for IT companies have attracted over $2 billion in investment and funding for IoT, Artificial Intelligence (AI), big data, cyber security, cloud and robotics. It provides a dynamic business environment and knowledge hub for over 24000 professionals.
The special economic rules of DIC offer taxation and customs related benefits for the companies. Many world famous tech giants like , Google, Dell, Intel, Huawei, Samsung, SAP, Microsoft, IBM, Oracle Corporation, Tata Consultancy have set up offices in this industrial cluster, which is strategically located close to other industrial hubs like Dubai media city an Dubai knowledge village. There are over 1600 companies in DIC, which offers the best employment opportunities for qualified professionals and experts.
Dubai offer a plethora of job openings including computer & information research scientists, systems managers, hardware and software engineers, programmers, database administrators, data communications analysts, , network and computer systems administrators, and much more. Apart from a positive work atmosphere, these job openings carry the best pay pack and growth opportunities as well.
Multinationals still want to be part of this technology city
Multinational companies have always been part of the technological advancements in this city. The growing city with one of the best transport and logistics network is the first choice for most foreign investors and businesses.
Dubai has fairly easy rules and regulations that makes it one of the easiest places in the world to set up a business. Even companies like Google have made UAE its hub in the Middle East and North Africa region. From technology to transport and logistics, Dubai has the best of everything for start ups and established businesses. The Smart City initiative is expected to open up key opportunities in technology and innovation.
Dubai has one of the highest internet and mobile phone penetration rates and takes the credit of being the largest ICT (Information and communications technology) hub in the Mena region. So, multinationals have some really sound reasons to choose Dubai as their base. Dubai is all set to get its first driverless car on its road as the multinational auto giant Jaguar rolled out the prototype of the driverless car for the first time on the streets of Dubai- much to the pride and delight of its citizens. The autonomous vehicle demonstration indeed offered a sneak peak to the future as more cars are likely to hit the streets - conditional to legislation and customer acceptance.
New technologies the country is planning to adopt
UAE has a tech savvy populace that has contributed to the evolution of new technology at a faster pace. For instance, 77 per cent people in the UAE prefer using the latest technology against just 49 per cent in Canada and 51 per cent in Germany.
Dubai is all set to adopt a slew of awe inspiring technological innovations like 3D printing, AI, IOT, big data, cyber security, cloud and robotics autonomous transportation , Mars colonization plan, drone drops and much more. Investments in machine intelligence and autonomous vehicles will continue to grow, to open the flood gates of technological advancements. As Dubai pursues is ambitious technological advancement plans and enthusiastically embraces the different types of technology, the country is all set to be one of the biggest digital hubs in this part of the world.