AI the next frontier of value creation

Dubai: Artificial Intelligence (AI) is an area of value creation and new investment in the UAE and the government is working towards making people aware of the huge potential it offers, Omar Bin Sultan Al Olama, UAE Minister of State for Artificial Intelligence, said at the Dubai Investment Week.

“Developing national capabilities and creating a sustainable economy requires the dissemination of the concepts of smart technologies such as AI. It also requires support in terms of expertise for our government and youth. We have been working closely with the youth and various government departments to creating knowledge and awareness on new developments relating to AI,” Al Olama said.

While AI is still relatively new concept and people have apprehensions about its future, in the UAE the government has been very supportive of projects related to AI.

“Our government and various departments have been very agile and the level of awareness is very high. The Smart Government initiative has been the foundation for application of AI in government,” said Al Olama.

The UAE is fast emerging as a leading FDI destination for AI and robotics, widening the application of these technologies in a broad spectrum of industries. While most government departments are active participants in developing and enabling AI, the minister said the potential of AI is huge in sectors such as health care, making it attractive to investors.

“Today the best skin cancer doctors on earth can make a diagnosis with an accuracy of 86 per cent, the best AI system can make an accurate diagnosis of 97 per cent,” he said.