The Middle East Invests Heavily in Artificial Intelligence

How AI is driving innovation in the Middle East Region



AI in the Middle East: investments & opportunities

As businesses search for ways to become more efficient, improve processes, and boost productivity, one solution stands out with the promise to do all that and more: artificial intelligence (AI). Along with the rest of the world, countries across the Middle East are investing in and looking to AI to help revolutionize and future-proof their businesses.

Turkey leads the region, having invested $3.4 billion in AI technology. The UAE has poured $2.15 billion into AI while Saudi Arabia has funneled $241 million into AI tech advancements with Egypt and Kuwait rounding out the top five countries, investing $585 million and $241 million respectively.

In the recently released The State of AI in the Middle East report, 60 percent of C-Suite executives in the Middle East believe that AI will be key for their business’ success, with 55 percent reporting that they have already begun AI pilot projects and 26 percent have AI solutions currently running in some parts of their business.

Forbes Middle East: UAE ploughs more than $2.15B into AI - The Second Highest Investment In MENA, 2019

AI Everything: The State of AI in Middle East

AI in the Middle East

How AI powers customer service & financial institutions

All businesses can benefit from AI technology. From making company knowledge searchable and accessible to improving workplace productivity by eliminating time-consuming tasks, AI dramatically improves efficiency.

Businesses that provide solutions quickly have the most loyal customers. As AI understands natural language, it can respond to online chat or instant message requests, returning accurate information in seconds.

For more complex issues, customer care agents can rely on AI to provide answers as it can ingest, correlate, and search an unlimited amount of technical data, product details, and customer history.

The financial industry relies on vast amounts of internal and external data to assess and manage risks. As data changes by the minute, AI gives financial institutions an edge by analyzing patterns and deriving insights far faster than any human could. This enables employees to spend their time turning those insights into strategic business ideas that bring value.

How AI powers customer service & financial institutions

The future of AI technology in business

Businesses must embrace AI as it is one of the most transformative technologies of our time. Leaders need to act now and take advantage of the opportunities it offers their particular business. As AI evolves, it’s power in the workplace will become more important, reducing low-impact busywork and enabling employees to use AI’s capabilities to develop solutions that drive strategic innovation.

While most of the current investments in the Middle East are funding AI developments in social media and IOT, there has also been a significant amount invested in gamification, machine learning, and smart mobile. In the next few years, industries including manufacturing, cybersecurity, construction, and healthcare, all of which are already using some form of AI, are likely to see an increase.

Other industries that might be slower to adopt AI technology but should still be planning for how to use it include fashion and retail, law, city planning, and architecture.

The future of AI technology in business

Preparing to implement AI in your business

When introducing any new technology into a company environment, it’s important to make sure that you have a well-thought-out plan. It’s most beneficial to start by introducing AI to the departments that will see the biggest impact the fastest and then roll it out to other sectors in the company.

Keep in mind that you will also need to have a team with the requisite skills to manage the implementation, employee on-boarding, and ongoing maintenance of the AI application.

The applications for AI are countless, and within a few years, the technology will be available and customized to every type of business. The key to getting decision-makers on board with any new technology, including AI, is to highlight how the company will benefit in the short and long term.

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