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March 11, 2020
Accenture has published a research recently, claiming that Artificial Intelligence is expected to contribute up to $182bn to the UAE’s economy by 2035. Organisations in the Middle East and Africa are expected to spend $30 billion (Dh110.1bn) on digital transformation this year, driven largely by industries such as banking and energy.
Researchers are expecting significant growth in technology investment in the coming years and projected that digital transformation spending will grow at a compound annual rate of 18% in the region over the next three years.
One of the top-spenders for digital transformation is the banking and finance industry which predictably will spend $13.23bn on technology this year. However UAE government is pushing digital transformation ahead of any industry and most likely the most advanced change will happen in the government sector firstly.
Resource industries – including oil and gas mining – will spend $5.33bn on technology this year. This is predicted to grow to $5.79bn over the next three years.
Taking into account the rapid development of technology and growing demand in digital transformation services, lack of good talent may become a hindrance in the ongoing digital transformation drive.
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