Adoption of IoT, Blockchain, AI will accelerate in 2019
January 28, 2019 / Emma Woollacott
The UAE's willingness to adopt the technologies of the Fourth Industrial Revolution, including Artificial Intelligence (AI), the Internet of Things (IoT), and Blockchain, will see an acceleration in 2019. AI, in particular, is set to contribute $320 billion to the Middle East economy in 2030, equivalent to 11 per cent of GDP, data by PwC has shown. In addition, the Middle East is expected to account for two per cent of the total global benefits from AI in 2030. Annual growth in the contribution of AI per year across the region is estimated between 20-34 per cent. Experts also say that the greatest gains from AI are likely to be in UAE, with a contribution of up to 13.6 per cent to the GDP in 2030; and that the biggest sector gains could be in retail, and the public sector including healthcare and education relative to current size.