UAE Slated to Double its Digital Economy Over the Next Ten Years: Prime Minister’s Office

Saqr bin Ghalib, Director of the Artificial Intelligence (AI), Prime Minister’s Office, United Arab Emirates (UAE) states that the Government of UAE has mandated the doubling of the size of the country’s digital economy within the next ten years. AI and digital payments are considered to be fundamental building blocks of the UAE’s digital economy.

Why it Matters?

With almost 80% of UAE’s digital payments being contactless, AI plays a crucial role in digital payments within the country. PricewaterhouseCoopers (PwC) predicts that AI will contribute up to USD 320 billion to the Middle East economy in the next ten years. Smartphone penetration exceeds 100% in the UAE, with over 65% of people in the country having used one new paym...