The UAE government is taking concrete steps to establish a strong digital economy and make use of the advantages provided by digital transformation.The digital economy contributes about 4.3 per cent of gross domestic product in the UAE, which is equivalent to Dh100 billion, government figures show.
There are more than 1,400 start-ups in the country, 90 investment funds in the digital sector and 12 business incubators. The total value of start-ups in the country is estimated to be Dh90bn.The event aims to develop an action plan to advance the digital economy based on the feedback and inputs from the participants.
Omar Al Olama, Minister of State for Digital Economy said that the private sector is playing a key role in developing new strategies for driving long-term sustainable growth and boosting Dubai’s economic competitiveness, AI and Remote Working System. UAE is Arabian world’s second-largest economy, and is considered one of the most advanced countries in the field of technology and the adoption of modern technologies. Nearly 40 per cent of the country’s population uses government digital services more than once a week.The Emirates is projected to benefit the most in the region from AI adoption. The technology is expected to contribute up to 14 per cent to the country’s GDP – equivalent to Dh352.5bn – by 2030, according to a report by consultancy PwC.