Private sector companies in the UAE are being urged to significantly increase their investments in artificial intelligence (AI) to align with the government’s ambition of positioning the country as a global leader in innovation and technology. Sameera Fernandes, Chief Sustainability Officer at Century Financial, emphasised the need for greater private sector involvement, noting that current investment levels in AI are insufficient.
“The UAE government aims to make the country a top global hub for innovation and technology, particularly in AI,” Fernandes stated at an event organised by the Dubai Stockbrokers and Investment Services Group (DSIG). She highlighted that increased AI investments would not only enhance the private sector’s efficiency but also ensure long-term sustainability.
According to Fernandes, investing in generative AI is expected to drive economic growth and increase labour productivity by 1% annually. She added that future advancements in machine learning, robotics, algorithms, big data, and the Internet of Things would be key to propelling the UAE’s economy to the next level.
