{"id":622879,"date":"2018-10-15T04:02:33","date_gmt":"2018-10-15T04:02:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/mena-companies-increasing-their-adoption-of-ai-technology\/"},"modified":"2018-10-15T04:02:33","modified_gmt":"2018-10-15T04:02:33","slug":"mena-companies-increasing-their-adoption-of-ai-technology","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/mena-companies-increasing-their-adoption-of-ai-technology\/","title":{"rendered":"MENA companies increasing their adoption of AI technology"},"content":{"rendered":"

<\/a> ** #8 Investment in artificial intelligence in the Middle East and Africa are expected to accelerate over the coming years<\/strong> at both private and publicly traded companies, a GCC-focused Microsoft study found, according to the National<\/a>. According to the report, nearly one third of the Gulf\u2019s largest corporations are set to adopt AI this year in one form or another, and \u201cbanking and finance organizations will lead the AI adoption curve,\u201d says IT services company Dimension Data\u2019s Managing Director, Paul Potgieter.<\/p>\n

The UAE is the region\u2019s leading adopter of AI, and its economy is expected to grow at a faster pace<\/strong> than its Gulf neighbors by 2030 \u201cas a result of AI adoption, with this cutting-edge technology expected to contribute up to 14 per cent to the country\u2019s GDP,\u201d according to a study by PwC<\/a>.<\/p>\n

Where does Egypt stand?<\/strong> Applications of AI in Egypt are expected to grow at an average annual rate of 25.5% between now and 2030, trailing behind the UAE (33.5% per annum) and Saudi Arabia (31.3% per annum). AI will ultimately contribute 7.7% of Egypt\u2019s GDP by 2030, according to the PwC report, while the GCC4 (Bahrain, Kuwait, Oman, and Qatar) will see AI contributing 8.2% to GDP, and AI will comprise 12.4% of Saudi Arabia\u2019s GDP. The UAE again leads the pack (14% of GDP), but China is expected to outpace the UAE by a wide margin, with AI accounting for 26.1% of GDP by 2030.<\/p>\n

The region has been slow on the uptake, but there is hope yet:<\/strong> \u201c\u2018Governments and businesses across the Middle East are beginning to realize the shift towards AI,\u2019 says Richard Boxshall, senior economist at PwC Middle East. \u2018They are faced with a choice between being a part of the technological disruption, or being left behind.\u2019\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

** #8 Investment in artificial intelligence in the Middle East and Africa are expected to accelerate over the coming years at both private and publicly traded companies, a GCC-focused Microsoft study found, according to the National. According to the report, nearly one third of the Gulf\u2019s largest corporations are set to adopt AI this year […]<\/p>\n","protected":false},"author":1,"featured_media":622880,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[72,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-enterpriseam","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"d8b909e6-2746-43cb-9513-59c4aabd537e","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2018\/10\/1459.jpg","photo_position":"above","related_issue":[622859],"teaser":"","voice_url":""},"yoast_head":"\nMENA companies increasing their adoption of AI technology - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/mena-companies-increasing-their-adoption-of-ai-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MENA companies increasing their adoption of AI technology\" \/>\n<meta property=\"og:description\" content=\"** #8 Investment in artificial intelligence in the Middle East and Africa are expected to accelerate over the coming years at both private and publicly traded companies, a GCC-focused Microsoft study found, according to the National. 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