UAE private sector enterprises must speed up AI investments
Private sector needs to start playing catch up in committing needed investments
Dubai: Private sector enterprises in the UAE will need to start pulling their weight when it comes to AI linked investments.
“The UAE Government wants the country to become one of the top global hubs in innovation and technology, especially AI,” said Sameera Fernandes, Chief Sustainability Officer at Century Financial.
“Unfortunately, private sector investment in this sector is not great. Increased investment in AI will help the private sector to not only become much smarter, but also sustainable in the long run.”
Speaking at an event hosted by newly created Dubai Stockbrokers and Investment Services Group (DSIG), “investment should be made in digital assets and businesses that will help the UAE to remain at the forefront of innovation and transformation.”
Based on current projections, investing in Generative AI offers ‘potential economic growth and boosts labour productivity by 1 per cent annually’.
“In future people will produce more with less efforts through the use of technology in which machine learning, robotics, algorithms, big data, the Internet of Things will play a crucial role in advancing the economies to the next level,” said Sameera, who is chairperson of DSIG.