How artificial intelligence and big data are disrupting business in the Middle East?

There have been so many advancements in Artificial Intelligence (AI) in the past five years.

There have been about 1.5m robots built in the last five years and 20b devices connected to the internet and this number is expected to grow to 60b by 2024.

“AI and big data are expected to contribute $18tr to the global economy by 2030, close to 15% of global GDP, that is more than India and China’s GDP combined,” Imad Atwi, Principal at Startegy&, said.

Delegates, speaking at the Big Data’s Big Trends, an event hosted by Forbes Middle East, said that AI is in every single industry but different capacities.

There are about 400 use cases on AI in the region, Alaa Youssef, managing director at SAS said and added that banking and telcos in the Middle East are the most advanced in using the data.

However, he said that other sectors have adopted AI but they need to catch-up.

Furthermore, he said that regional governments have been quick to adopt AI to improve lives for citizens.

“Big steps have been taken by the UAE and Saudi Arabia in particular,” he added.

When you look across use cases there are “four pillars”, he said.

“One is the experience. The other is related to improving products and services. Third is related to the organisation and the fourth is the mandates that come with security and compliance.”

Source: TechRadar