The United Arab Emirates is making significant strides in its ambition to become a global leader in artificial intelligence by 2031, leveraging its substantial oil wealth to fuel this vision.
The UAE is strategically positioning itself as an AI powerhouse, with Abu Dhabi at the forefront of this transformation. In a landmark move, the country recently participated in a $6.6 billion funding round in Silicon Valley, facilitated through MGX, a state-backed firm specializing in technology and semiconductors. This investment underscores the UAE’s commitment to becoming a major AI player on the world stage by 2031 through strategic initiatives, public engagement, and extensive research funding.
Further emphasizing its dedication to AI, the UAE has appointed Omar Sultan Al Olama as its AI Minister. Despite facing fierce competition from AI leaders like the United States and China, Al Olama advocates for global collaboration, suggesting that AI development need not be a zero-sum game. “What is going to happen, I think, is that we’re going to have centers and nodes of excellence across the world where there are specific use cases or specific domains where a country or player or a company is doing better than everyone else,” he stated, reflecting a cooperative rather than competitive approach.
Abu Dhabi plays a pivotal role in the UAE’s AI strategy. As the wealthiest emirate, it is home to significant oil reserves, contributing largely to the country’s economic muscle. This economic power, managed through sovereign wealth funds like the Abu Dhabi Investment Authority and Mubadala Investment Company, is being channelled into AI ventures. According to a PwC report, AI could contribute $96 billion to the UAE economy by 2030, equating to 13.6% of its GDP.
However, economic investment is only one piece of the puzzle. The UAE is actively working to attract talent to match its financial inputs. Between 2021 and 2023, the number of AI professionals in the country quadrupled to 120,000. Additionally, a ‘golden visa’ program was introduced in 2019 to ease entry for technology experts. To further retain talent, Dubai launched the largest prompt engineering initiative globally, aiming to upskill 1 million workers over the next three years.
Despite these advancements, the UAE faces criticism regarding its treatment of lower-skilled migrant workers, who make up a substantial portion of the population. Concerns about labor conditions have led to legislative changes aimed at improving worker protections.
In terms of research and education, Abu Dhabi has become a hub for AI knowledge. New York University, with its Abu Dhabi campus, and the Mohamed bin Zayed University of Artificial Intelligence are central to these efforts. These institutions not only foster AI research but also organize events like the International Olympiad in Artificial Intelligence, attracting participants from over 40 countries, thereby elevating Abu Dhabi’s status as a global AI center.
While Abu Dhabi may not eclipse Silicon Valley, its strategic investments and initiatives position it as a significant player in the AI arena.
Source: Businessinsider
