Why this is important to Wisconsin businesses: A strategic plan lays out goals for incorporating AI advances to boost the region’s economy.
The United Arab Emirates (UAE) wants to become one of the global leaders in artificial intelligence (AI) by 2031.
The UAE National Strategy for Artificial Intelligence 2031 calls for attracting talent for jobs of the future, funding research and innovation hubs, and developing data infrastructure.
The value of the AI market in the UAE is projected to reach $1.9 billion by 2026, with a compound annual growth rate of 36.2%, according to an Arab News article that quotes a study by Research and Markets. In 2020, the region’s AI market was $290 million.
The UAE is looking to diversify beyond an oil-based economy; it says the focus on AI technology will create new economic, educational, and social opportunities and will generate more than $90 billion in growth.
Key trends driving the move toward AI and big data are smart cities and infrastructure improvement. The UAE says it is using AI sensors for smart traffic management, facial recognition to monitor driver fatigue, and chatbots to handle customer service. AI companies focusing on areas such as transportation, energy optimization, waste management, public safety, and tourism are also in demand.
Another sector in which the government wants to gain ground with AI is health care, such as medical imaging analysis, disease diagnosis, personalized medicine, and telemedicine solutions.
Cybersecurity is also a priority, and the government is encouraging entrepreneurs with companies that detect threats and offer predictive analytics.
Wisconsin businesses with AI specialization and expertise could seek partnerships that will help the UAE achieve its goals.
