A session at the Web Summit confirms that artificial intelligence has great opportunities in the Middle East (Al Jazeera)
Doha
- Artificial intelligence and the various applications it brings have become an indispensable part of the work of large and emerging companies, which has led some owners of these companies to pay millions of dollars to create business models and operational plans using artificial intelligence, due to the huge profits it achieves over time.
According to the International Monetary Fund, the adoption of artificial intelligence technology could lead to an increase in productivity growth by 1.5 percentage points annually over 10 years and an increase in global gross domestic product by 7%, equivalent to 7 trillion dollars in the form of additional production, which are numbers considered imaginary for entrepreneurs and companies. .
Regional Director of Public Policy for Meta, Basma Ammari, says that artificial intelligence encourages large-scale decentralized innovation that develops daily and moves away from the monopoly of large companies, stressing during her participation in the Qatar Web Summit 2024 that the global economy needs more creative innovators in the field of artificial intelligence. .
She pointed out that young people in the Middle East region have begun to take actual steps to become owners of small companies instead of being employees in large companies, and this is a positive thing because some smart small companies will work to close the technological gap with their larger counterparts or even reverse the direction of this gap. And regain more market share.
Experts confirm that countries that succeed in experimenting with digital transformation become more prosperous (Al Jazeera)
Huge profits
Basma Ammari explained that the spread of artificial intelligence applications and their achievement of huge profits has prompted many young people in the Middle East to develop their own tools, products and services and create their own applications, and this is what we have witnessed in Qatar, the Emirates and Saudi Arabia with great effectiveness, where we see daily the dominance of artificial intelligence in the Middle East markets.
The Regional Director of Public Policy for META called on policy makers, industry leaders, and stakeholders in the world to allocate more funds to develop the process of integrating artificial intelligence into startup companies because of the unprecedented renaissance that will provide the world with a better life in the fields of education, health, traffic, and comprehensive digital transformation.
In her talk, Basma Ammari did not stray far from the Middle East region, but rather confirmed that the latest statistics indicate that artificial intelligence has great opportunities in the Middle East and North Africa region, where developed countries are trying hard to shift their focus from oil to investing in technological innovation for the sake of economic progress.
It is expected that the annual growth in the contribution of artificial intelligence to the economy will reach 20% to 25% annually throughout the region, especially in the UAE, Qatar and Saudi Arabia.
We are waiting for you today at #QatarWebSummit, where we will showcase the latest technologies and promising startups within Hamad Bin Khalifa University, and engage in conversations about artificial intelligence, sustainability, healthcare, and more.
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- Hamad Bin Khalifa University (@HBKU) February 27, 2024
System change
As for Benjamin Vig-Prosser, CEO of Global Counsel, which works in the field of technology, he went further and stressed that artificial intelligence will constitute a major change in the economic system in the Middle East region due to the great development in the use of artificial intelligence.
In his speech, Prosser inferred the extent of the digital transformation integrated with artificial intelligence that a number of Middle Eastern countries are witnessing, stressing the necessity of fighting corruption in this field and employing competencies to serve the complete digital transformation process that the world is witnessing now.
Regarding the best ways for startups to exploit artificial intelligence, the CEO of Gopal Counsel focused on using artificial intelligence techniques to analyze market data and trends, which helps startup owners understand customer needs and direct strategies based on these analyses.
Figures from #QatarWebSummit 2024, the first edition of the world's largest technology event for the first time in the region.
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- Government Communications Office (@GCOQatar) February 27, 2024
Reduce costs
During his participation in the Qatar Web Summit 2024, Benjamin saw that the use of artificial intelligence saves time and labor, which reduces capital and management costs. Artificial intelligence can do the work of marketing, accounting, analysis, and communication with customers instead of relying on human employees. Intelligence can also Artificial technology facilitates the process of planning, organizing, evaluating and improving business performance.
Vij stressed that the world has become convinced today that the process of digital transformation has a positive impact on the gross domestic product, which has a positive impact on the increase in per capita income, concluding his speech by saying, “Countries that succeed in experimenting with digital transformation become more prosperous than their counterparts that fail to achieve it.”
The session ended, but the discussions about the extent of the effects of artificial intelligence on the business sector have not ended, as many see it as a double-edged sword. On the one hand, it offers multiple advantages to companies, investors and consumers, but no one can deny the extent of the danger that artificial intelligence carries in threatening jobs.
Source: Al Jazeera