AI could unlock significant economic impact in Mena region, says report

AI could unlock significant economic impact in Mena region, says report

Google announced on Monday the launch of a new report, The Future of AI in the mena region, which provides a high-level outlook for Artificial Intelligence (AI) developments over the next decade, with a specific focus on the United Arab Emirates, Saudi Arabia, Qatar, Egypt and Kuwait. It explores AI investments, industry trends in tourism, transport, finance, retail, energy, and government services. The report also highlights key policy takeaways that governments should consider when strengthening their AI ecosystems and capabilities. According to the report, the potential economic impact of AI on the region’s economic growth is significant, with the MENA region estimated to accrue $320 billion by 2030 from value added by AI. The region has taken initiative in developing national AI strategies that can create a friendly business environment, however, they remain lacking of suitable digital policies such as in the field of data governance as well as trust and safety. Commenting on the report, Martin Roeske, Head of Government Affairs and Public Policy in the Middle East & North Africa said, “The report shows that the responsible development of AI creates massive opportunities to improve the lives of people in the MENA region and to turbo-charge key sectors