The UAE’s artificial intelligence (AI) sector is on a rapid growth trajectory, with significant investments and government initiatives driving expansion. Here are the key insights:
Massive Market Growth
- AI market in the UAE was valued at $3.47 billion in 2022.
- Expected to reach $46.33 billion by 2032, growing at a CAGR of 43.9%.
Government-Backed Expansion
- The UAE AI Strategy 2031 aims to make the country a global AI leader.
- AI expected to contribute 14% of GDP (~$100 billion) by 2030.
AI in Finance
- Market to grow from $67 million in 2023 to $514 million by 2032 (CAGR: 25.3%).
- Robo-advisors market projected to hit AED 92.19 billion by 2027.
AI in Retail
- Market expected to grow from $16.82 million in 2023 to $157.86 million by 2032 (CAGR: 28.21%).
- AI transforming customer experiences & operational efficiency.