UAE has always been a front-runner when it comes to deploying technological innovations for the good of the general public and government services. Every time the world comes to know of different forms of technology, UAE, most of the times, has been the first to show interest.
Now according to some of the news reports, The United Arab Emirates is running out of oil. Probably in the wake of this, the Emirati leaders have realized that they need to diversify their monetary sources. And as UAE doesn’t have many options because of its location and climatic oddities; it is focusing heavily on making Dubai, the biggest hub for technology.
As a matter of fact, the government announced the Smart Dubai Initiative in 2014, which apparently is going to have a lot to do with the adoption of AI software in order to achieve ‘The Smart Vision’.
What is UAE’s Strategy to Grow the AI Industry?
The UAE realized the huge value of Artificial Intelligence and the impact it will have on the UAE’s economy. In response, they have developed a full-fledged plan for how to embrace AI technology in day to day and attract top AI businesses.
It is a deep strategy developed by the nation and mainly focuses on how Artificial Intelligence in UAE can revolutionize the following nine sectors.
- Transportation – To develop prevention mechanisms to reduce operational costs and accidents as well
- Traffic – to reduce traffic jams and accidents and bring in more effective traffic protocols
- Technology – To accelerate the productivity growth and helps at regular cost
- Water – To conduct analysis and studies to give proper water resources
- Space – To help make precise experiments and reduce costly mistakes
- Healthcare – To reduce the effects of dangerous and chronic diseases
- Education – To reduce cost and increase the desire for education
- Environment – To increase afforestation rate
- Renewable energy – in managing all facilities
The main objective is to improve government performance at all levels and cover the steps that must be taken to put the UAE in first place in the area of AI investment in several industries.
In addition to developing a strong strategy, they have re-appointed the Ministry of Artificial Intelligence in the year 2017, Omar bin Sultan al-Olama’s main goal is to invest in AI tools and other advanced technologies.
The UAE also plans to grow its AI industry by hosting large expos and events. Expos like Dubai World Expo 2020 and events like AI Everything Summit are the keys to bring a large group of experts in the AI space from various places including startups, international academia, and technology powerhouses.
At present, Dubai has already kicked-off the application of AI in UAE across different sectors.
Let’s Take A Look At How Well UAE Has Responded To The Dawn Of AI
Dubai has always been serious about its transportation systems, especially the one for the public. This is the reason why the city almost never faces traffic issues. In the pursuit of improving public transport, even more, Dubai is building an even better, sophisticated and organized autonomous traffic system with the help of driverless cars.
In 2017, Dubai signed a deal with the founder of Tesla, Elon Musk for 200 AI-powered Tesla S and Tesla X cars to be included in the Dubai Taxi Corporation. The government aims to make at least 25% of car travel trips in Dubai, driverless. Quickly after the Tesla deal, authorities announced that regulations for AI-powered driverless vehicles would soon be launched.
With the launch of the Ministry of AI, one thing is clear – UAE is taking AI integration of the nation, quite seriously. While UAE is planning to leverage latest AI technology to attract tech-lovers from around the world, the reason behind these initiatives is giving human an even better life standard.
The gulf nation recently showcased its intentions to make the best use of AI for its people by launching a 1-stop centre in Dubai, which offers more than 100 services for the general public. This Smart Centre has been powered by one of the biggest AI technologies in the world – Watson by IBM.
Apart from that, the AI paradise has robots and a government representative from the ministries of UAE. And from what the sources say, UAE is aiming to transform the existing economy to a self-sustained AI income.
UAE’s initiative to introduce AI in the education sector as well as showed the world as in how the nation has managed to secure a rank among the most literate nations, UAE currently has a literacy rate of over 90%, but are they planning to stop? Certainly not!
ATLAB – A technology-based learning solution established in UAE – has joined hands with the government to use ATLAB TeachAssist to provide one-on-one teaching sessions for students to learn easily.
ATLAB uses Sanbot Cloud-enabled Service to infuse Artificial Intelligence in its robots. The functions of a TeachAssist robot are not limited to teaching only; rather, it can be used by students in terms of answering to queries, search for information and fetch it on a specific subject and analyze student’s progress as well.
The UAE’s health care Industry will undoubtedly receive the advantages of Artificial Intelligence and Machine Learning. With the potential for chronic diseases and the ageing population, there is a high demand for personalized patient care in the healthcare sector. AI-powered personal health care technology minimizes doctor-patient interaction and gives online health monitoring through the computer and internet.
As wearable remote devices reduce patient visits to hospitals, it allows medical consultation as soon as possible. Remotely treating patients have been part of the UAE healthcare landscape, and digital and app-based medical conferences are typical. While these interactions will be done through video calls with real-life doctors, AI will no enable machines to advance through AI chatbots.
Image-guided surgical robots are another kind of the adoption of AI in the healthcare field. Robots can perform complex surgeries that require extreme accuracy. This is especially benefits in cases where the risk of life-threatening injuries is high due to a surgical defect.
The applications of AI technology in FinTech Industries are unlimited. The evolution of a flexible and coordinated BFSI (Banking, financial services and insurance) industry is valid for all stakeholders, and its importance to the region is ideal. As AI has grown enormously in the UAE, fintech has begun to invest in disruptive technologies that compete with traditional methods of delivering financial and internal services.
Due to this, the number of fintech startup companies in the UAE national has doubled to 43 over the past two years, with e-payment brands such as Crowdfunding, Cryptocurrency, Beehive, Blockchain and OneGram, Sarva Vying, and Bridg for the slice of ever-growing fintech global market.
Below are some of the best examples that describe how AI related technology has been playing an essential role in financial services:
- Wealth Management for Masses (e.g. Trading and Smart Wallets)
- Fraud Detections and Automating RegularTasks
- Transactions, Customer service, and Helpdesks
- Data Analysis and Advanced Analytics
- Underwriting Insurance and Loans
- Automated Virtual Assistants
For years, we have been fascinated by robots that have minds of their own, real-time logic and accurate decision-making capabilities, but not Dubai. Lately, Dubai launched the world’s first robot cop REEM, which keeps an eye out for crimes and anything unusual.
The robot has a touch-screen that can be used by anyone to research, reports or enquire about certain crimes. In accordance with UAE’s aim to build an enforcement system backed by AI technology, Dubai is aiming to establish police stations run and governed entirely by Robots.
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