Dubai, a leading economy in the UAE and in the world, shifted its primary focus towards innovative and futuristic technologies to help boost efficiency and profitability across key industries.

Research showed that in Dubai, the federal government conducts over 250 million paper transactions per year, in the form of paperwork and official documentation. Furthermore, these transactions are conducted manually, resulting in over 190 million hours of manpower spent! Incurring heavy costs in due process, the government of Dubai created its ‘Artificial Intelligence Strategy 2031’, which looks to incorporate AI-based technologies into the public sector, so as to minimise costs and boost profitability.

The strategy was one of the country’s first few steps towards its preliminary ‘Centennial 2071’ vision. Industries that Dubai hopes to elevate with the help of AI include Education, Transportation, Defence, Space Exploration and Energy.

The objective of the roadmap, in order to facilitate their 2071 strategy, is to set up incubators for AI advancements, help the local workforce adapt to the advent of these technologies, conduct constant research and produce data-driven frameworks for further development and design.

Spearheaded by His Highness Omar Sultan Al Olama, the Ministry of Artificial Intelligence in Dubai is investing Billions of dollars into the adoption, development and deployment of Artificial Intelligence.

Dubai to become the AI capital of the world

The government of Dubai has been investing heavily into AI-based solution providers to position itself as a global leader.

Minister for AI, Omar Sultan Al Olama, said that “In 10 years, Dubai will become the capital of AI in service and government”. His ultimate goal revolved around his dream to ensure every resident and tourist in Dubai felt as if they were living in the future. Due to its peaked interest, Dubai has garnered more than US$ 21 Billion in foreign direct investments, in the field of AI alone. 

Dubai’s nosedive into the field of cutting-edge technologies came initially in 2016, when the ruler His Highness Sheikh Mohammed bin Rashid Al Maktoum announced the first US$ 270 Million Vision Fund, which came with a dedicated accelerator programme. In the last 4 years, the fund has provided a steady foundation for thriving startups and businesses to flourish in the field of AI research and development.

The accelerator programme serves as a superior mentoring initiative, coupled with financial support, for individuals and organisations all across the globe. Applicants are invited to the country to research and test their innovations alongside a respective government department to check its overall functionality and viability.

What dazzles investors all over is the success rate of Dubai’s accelerator programme. In just a few years, over 4,000 applications were received. And from 65 candidates that finished the intensive 9-week agenda, over 46 of them signed strategic MoUs with the government for further study and commercial distribution.

What truly sets Dubai apart from the rest, is its commitment towards incorporating private entities into governmental functions in order to make the lives of its citizens easier. By including government organisations with these private players, Dubai is able to bring down the smartest individuals to its country, address key challenges in various sectors and launch cutting-edge solutions.

This has boosted the morale of regional players, as local players have begun dabbling in the AI-tech space with noticeable results. This has defined the success that Dubai is enjoying, as it now stands a league above the rest with respect to AI-based technologies.

By investing heavily into businesses to grow their interests in the Middle East, Dubai is well on its way to becoming the world’s smartest city, a podium slot it hopes to etch itself into by the year 2021.

This approach has created a demand for next-gen applications that can help spearhead this revolution for diverse governmental functions, as well as for businesses, by providing solutions to bridge gaps. 

Aiming to help Dubai achieve its goals, global business events and consulting firm Trescon is hosting the 17th edition of the World AI Show, scheduled to take place between 13-14th of April 2020, which will bring experts and industry stakeholders from all over the world to discuss the future prospects of AI based solutions for Dubai. The event will also explore the latest trends and AI solutions being developed by global players. For more information about the show and how to attend, visit https://dubai.worldaishow.com/