The government of UAE is moving rapidly towards a completely change in direction of its economy. The wise rulers of the country are certainly aware that they can only progress in this modern world by using education and technology to its greatest extant. Due to this, the focus is completely on altering the focus of economy that is mainly leaning towards oil and gas sector. Now the importance is given to education and modern technology in the newly-adopted knowledge-based economy. The effects of this approach are already evident and it is expected that these sectors will add hundreds of billions of dollars in the economy of UAE in the coming decade or so.
An important modern technology that is rising in UAE is AI (artificial intelligence). UAE has showed its seriousness about this latest technology with the inclusion of world’s first robotic cop, drone service and others in recent months and years. Understanding the importance of this modern sector, the government of UAE also appointed its first minister of AI last year in 2017.
According to a report by Accenture, an Ireland-based global management consulting firm, it is expected that AI (artificial intelligence) will add $182 billion in the economy of UAE by 2035. It means that this field of modern technology will boost the UAE economy by 1.6%. According to the same report, main sectors that will show positive impact with the advancement of this latest technology include: financial services, healthcare and transport & storage industries. These sectors will achieve the growth of $37 billion, $22 billion and $19 billion respectively with AI.
There are few concerns regarding to the spread of AI and one really important one is the eradication of jobs as robots and other means of AI are expected to take place of most of the ordinary jobs. But this is just one side of the picture. In fact, AI will not affect much on the number of jobs but it will change quality of these jobs. Now, more professionals and specialists related to IT and other fields of modern technology (especially those related to AI and similar fields) will be recruited by companies handling this AI technology. In the long run, it is beneficial not only for country but also for both investors and professionals.
Keeping this fact in mind, the government of UAE is also adopting policies to attract more and more specialists in various science fields in the country. Recently, the UAE cabinet approved 10 year residence visa for professionals and experts in various scientific fields. Therefore, we can expect further measures by the government to facilitate specialists in scientific fields. We at Riz & Mona Consultancy provide visa services for those who want to take advantage of the revolutionary steps adopted by UAE. You can contact us via our WhatsApp # 971-56-9971225.