Investing in AI also requires in creating highly skilled professionals

In an era defined by rapid technological advances, AI has emerged as a transformative force, reshaping entire industries, enhancing the productivity of workforces, and driving innovation like never before.

To fully harness the power of AI, it is imperative that we empower every individual – from students and professionals to entrepreneurs and policymakers – to effectively leverage this technology.

A report by the International Data Corporation estimated that the technology could contribute $19.9 trillion to the global economy through 2030 and drive 3.5% of global GDP in 2030. In the Middle East, AI is expected to contribute up to $320 billion to the economy by 2030, with the UAE accounting for the largest share – approximately 14% of its GDP. However, this growth trajectory is contingent upon the availability of skilled professionals who are not only familiar with working alongside AI, but can also develop, implement, and innovate new cutting-edge AI solutions.

Hunt for quality AI professionals

A shortage of AI talent is a pressing concern for businesses worldwide, hindering their ability to innovate and compete effectively. Recent research showcases how the supply for highly skilled AI talent falls significantly short of demand – only 1 in 10 global workers possess the AI skills necessary to thrive in today’s highly dynamic digital landscape. This has resulted in 55% of business leaders admitting that they are concerned about having enough talent to fill key roles especially in cybersecurity, engineering, and creative design.

In the UAE, 74% of employees agreed that AI is the biggest opportunity for the future of the workplace, however more than half acknowledged that their formal education did not prepare them for the demands and challenges of an increasingly AI-powered workforce. The good news is that employees in the UAE, and around the world, are extremely excited about the potential of AI to help them enhance their performance at work, to the point that 78% are bringing their own AI tools to work.

Transforming enthusiasm into action

It is essential to develop homegrown AI talent through comprehensive skilling initiatives that not only equip them with technical AI knowledge, but also empowers them to innovate, problem-solve, and adapt to a rapidly changing world. Those who acquire AI skills will not only be better positioned for future job opportunities – 77% of business leaders say that early-in-career talent with AI aptitude will be given greater responsibilities – but will also be able to bring transformative ideas to their organizations and industries.

For instance, in healthcare, AI is already helping doctors with precision medicine and disease prevention, while in the financial sector, AI observers are contributing to more informed decision making. By skilling professionals in these sectors, the UAE can ensure that local talent is at the forefront of these innovations, driving both sectoral growth and economic competitiveness.

Public-private partnerships vital

Collaborations between governments, educational institutions, and private companies are essential for developing effective skilling programs that not only enhance local talent but also attract global expertise, fostering a vibrant AI ecosystem. The UAE Government, with its ambitious plans to transform the nation into a global hub of AI innovation and talent, has formed several long-term partnerships with leading technology companies to accelerate the development of a skilled pool of AI talent in the country through various initiatives and projects.

These include the recent establishment of a Global Engineering Development Center in Abu Dhabi that will attract leading talent from around the world to accelerate the development of cutting-edge AI solutions. Initiatives such as these will be pivotal in helping close the AI skills gap and fostering a rich pool of talent that will unlock unprecedented economic value and ensure a prosperous future for everyone in the UAE.