A technological revolution is imminent, poised to enhance productivity, stimulate global growth, and elevate incomes worldwide. Data indicates that Artificial Intelligence could contribute an additional $13 trillion to the global economy by 2030, increasing global GDP by approximately 1.2 percent annually. The UAE, in its strategic planning to achieve a significant economic leap by 2050, is keenly interested in the impact of deep tech and AI on business and the global economy, ensuring growth is inclusive, sustainable, and human-centric.
In Sharjah, collaboration among government, policymakers, and economic experts has led to significant advancements in transforming the economy into a tech-driven, adaptive ecosystem. Last year, the emirate allocated 35% of its budget to promote economic diversification and attract foreign direct investment in AI, deep tech, green technology, advanced manufacturing, and healthcare. Sharjah, along with the UAE, is positioned to lead the AI-driven transformation in the Middle East, potentially through strategic investments in emerging AI hubs like India and China.
The integration of AI in manufacturing and automation offers unique opportunities. Countries like Germany, Japan, and Mexico are already leveraging AI and robotics to improve efficiency and reduce costs. Sharjah aims to lead Industry 4.0 by partnering with these nations or establishing AI-enhanced production facilities locally. The upcoming Sharjah Investment Forum (SIF) continues the UAE's efforts to explore AI's impact on economic activity and the future of work.
Scheduled for September 18-19, the SIF will gather over 2,000 international and local delegates to discuss sustainable and inclusive economic strategies. The forum, led by financial and technology experts, aims to demystify deep tech and provide practical strategies to positively impact future economies. The UAE's investment in smart city projects mirrors global efforts, with SIF 2024 focusing on a futuristic vision for smart economies, setting the stage for defining discussions about the MENA region's future.
