The Founder of Astra Tech, and CEO of Botim, Abdallah Abu Al-Sheikh, has said that AI is projected to have a transformative impact on the United Arab Emirates’s economy.
This impact will contribute up to 14% of the UAE’s GDP by 2030, equivalent to approximately $100 billion (AED367 billion).
Speaking on the sidelines of the inaugural Dubai AI & Web3 Festival, Abu Al-Sheikh stated that the UAE firmly establishes itself as a dominant force in the global AI economy.
With the sector on the brink of a major expansion, projections indicate the country’s AI market could swell to $50 billion by 2031, he explained.
He added that Artificial intelligence is revolutionizing industries like healthcare, finance, and government. He also said that its adoption is fueling growth by improving operational efficiency and providing personalized services.
The founder pointed out that the digital economy in the UAE contributed 4.3 percent of the GDP in 2022, and is expected to grow further as technology companies flourish in this ecosystem.
The UAE enjoys a strategic position as a global hub for technology and innovation, thanks to its wise leadership and decisive investments in digital infrastructure.
Through initiatives such as the National Innovation Strategy and the Dubai Smart City Initiatives, the UAE has become a business environment designed to attract high-growth technology companies.
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