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How will artificial intelligence and robotics affect economic development
2023-12-08
Although most organizations are looking for ways to adjust their business according to the "digital" tsunami, the technologies with the highest attention and adoption are undoubtedly artificial intelligence (AI) and robotic process automation (RPA).
Although there are other areas in the emerging technology field, AI and RPA seem to occupy most of the headlines, mainly because they often have an impact on organizational efficiency and customer experience.
Robot process automation focuses on imitating human interaction through automated repetitive and non value-added tasks, while AI hopes to imitate human intelligence through unsupervised learning and cognitive ability. We experience these technologies every day - whether it's "verification code" (preventing robots from executing transactions), or Siri or Uber estimating your ticket price when you confirm your reservation or recommend possible "friends" on social media, or you should "bargain" to watch "next" according to your past online activities.
Adoption is the key
Although these technologies have existed for many years, the potential and investment of large technology companies (especially start-ups) have shown exponential growth in the past 3-4 years. With the growth of adoption rate, the adoption rate has continuously improved and achieved initial success.
Strengthen the business case.
According to IDC's data, the AI market in the region will grow at an alarming rate of 83%, from US $290 million in 2019 to US $530 million in 2022. The global market is expected to grow at a compound annual growth rate of 28.5%, with a revenue of nearly US $98.4 billion. In 2023, these figures have a significant impact on the regional market, The UAE and KSA governments lead the adoption process by establishing incubation and innovation centers to increase adoption. They have also set up key departments to promote a culture of innovation. In fact, the UAE is the first country in the world to establish a Ministry of artificial intelligence and appoint a minister of artificial intelligence in 2017.
Although these technologies do raise doubts about alternative personnel, more and more organizations are aware of the benefits in improving the customer experience and reducing the increased workload of employees by automating basic, repetitive and non value-added activities.
In addition, the adoption of emerging technologies has only created new opportunities in the job market. In fact, just a change in the way of thinking, that is, re skills and skill upgrading of existing employees, has brought the value of correctly realizing the digital journey to most organizations. This is evidenced by the fact that most Middle East economies are seeking diversification and the number of transformation plans implemented in public and private sectors. These technologies are changing the industry.
According to a report of the world economic forum, of the 133 million jobs to be created in the world, the first two are in the field of data and AI. It is reported that in the Middle East alone, the potential income of artificial intelligence may reach US $366.6 billion.
Robot process automation focuses on imitating human interaction through automated repetitive and non value-added tasks, while AI hopes to imitate human intelligence through unsupervised learning and cognitive ability. We experience these technologies every day - whether it's "verification code" (preventing robots from executing transactions), or Siri or Uber estimating your ticket price when you confirm your reservation or recommend possible "friends" on social media, or you should "bargain" to watch "next" according to your past online activities.
Adoption is the key
Although these technologies have existed for many years, the potential and investment of large technology companies (especially start-ups) have shown exponential growth in the past 3-4 years. With the growth of adoption rate, the adoption rate has continuously improved and achieved initial success.
Strengthen the business case.
According to IDC's data, the AI market in the region will grow at an alarming rate of 83%, from US $290 million in 2019 to US $530 million in 2022. The global market is expected to grow at a compound annual growth rate of 28.5%, with a revenue of nearly US $98.4 billion. In 2023, these figures have a significant impact on the regional market, The UAE and KSA governments lead the adoption process by establishing incubation and innovation centers to increase adoption. They have also set up key departments to promote a culture of innovation. In fact, the UAE is the first country in the world to establish a Ministry of artificial intelligence and appoint a minister of artificial intelligence in 2017.
Although these technologies do raise doubts about alternative personnel, more and more organizations are aware of the benefits in improving the customer experience and reducing the increased workload of employees by automating basic, repetitive and non value-added activities.
In addition, the adoption of emerging technologies has only created new opportunities in the job market. In fact, just a change in the way of thinking, that is, re skills and skill upgrading of existing employees, has brought the value of correctly realizing the digital journey to most organizations. This is evidenced by the fact that most Middle East economies are seeking diversification and the number of transformation plans implemented in public and private sectors. These technologies are changing the industry.
According to a report of the world economic forum, of the 133 million jobs to be created in the world, the first two are in the field of data and AI. It is reported that in the Middle East alone, the potential income of artificial intelligence may reach US $366.6 billion.