AI could be worth $1 trillion to the Mena region, new research suggests
Artificial intelligence could be the key to unlocking about $1 trillion in the Middle East and North Africa region by 2030, if used efficiently, research by the World Economic Forum has shown. Two reports have been published as the WEF and the Government of Dubai host the inaugural Annual Meeting of Global Future Leaders this week. The three-day event brings together hundreds of leaders and…
Artificial intelligence (AI) could inject up to $1 trillion into the Middle East and North Africa (Mena) region by 2030, according to research from the World Economic Forum. The three-day event, hosting global leaders and experts, aims to discuss future challenges and opportunities. The research highlights potential gains in sectors like sustainable financing, investment flows, avoided asset losses, energy sector performance, and cross-sector partnerships, amounting to over $1 trillion in value.
However, the report cautions that the Mena region must collaborate across sectors to harness AI's potential. UAE companies, such as First Abu Dhabi Bank and Adnoc, are already leveraging AI for sustainable initiatives. The UAE has been a leader in AI investment, with a $1.4 trillion plan over the next decade and a $3.54 billion commitment to integrate AI into public services by next year.
Yet, experts warn about the energy and water demands of data centres, particularly in the face of extreme heat and water scarcity. Efficient cooling methods and grid integration are seen as key innovations for the region.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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