In recent times the UAE has evolved into one of the few countries of the world that are making giant leaps in the field of artificial intelligence. The global market value for the AI sector is currently estimated to be 15.7 billion US dollars by 2030.
In the Middle East, the AI sector’s impact on the region’s economy is expected to reach a whopping 230 billion US dollars by 2030!
In light of its time-honored tradition, the government of the UAE has been taking various steps towards accelerating the robotics ground.
Omar Sultan Al Olama, the UAE Minister of State for Artificial Intelligence elaborated on this very issue in his latest statement, in which he said, that:
“ The UAE is continuously reshaping, transforming and adopting the emerging technologies to provide the best value to its nation and the world.”
A little while back UAE introduced its first AI News Anchor that presents news in both Arabic and English on Abu Dhabi’s news network, ADM, after the network signed a deal with Chinese internet company, Sogou Inc.
And now almost nine months later the UAE is taking its AI game to the next level, by bringing in Tally— its First Retail Robot Employee.
The United Arab Emirates has always pushed the envelope when it comes to adopting new technologies, which has always resulted in elevating the country head and shoulders above its peers.
Because of this, the country has fast become the most significant ground of innovations over the last few years. Entrepreneurs and foreign investors from far and wide are flocking into UAE to invest in the Artificial Intelligence and Robotics sector.
Artificial Intelligence and Robotics in the UAE
The sectors of Artificial Intelligence and Robotics have undergone dramatic modifications that have changed the landscape of the corporate world. A combination of data science, machine learning, computer vision, and virtual agents have improved the overall productivity of the corporate world drastically.
This, in turn, has unlocked the business investment opportunities and has created new job opportunities in the UAE. Speaking of that, Dubai has been ranked first in FDI Technology Transfer for Artificial Intelligence and Robotics.
The UAE has implemented AI and Robotics technologies across multiple business industries.
Few of these are listed below:
- Medical and Pharmaceutical sector utilizes 10%, biotech manufacturing and resources include 7% of AI technology in the production of surgical and other kinds of equipment.
- Financial services utilize 14% in banking, insurance, and investments.
- Professional services cover 32% in hospitality, public, government departments, etc.
- Retail sector covering 12% in consumer products and retail.
- Media and Telecom sector utilize 12% of technology in entertainment and infrastructure for telecom.
- Transport covers 13% in transportation, construction, energy and real estate.
Technological Advancements in Robotics
The United Arab Emirates has made some major leaps and bounds in the realm of robotics. Just a few months ago UAE introduced its first retail robot employee called “TALLY”. The robot weighs 14kg and has a height of 163cm (or 5.34777 feet exactly!), and is manufactured by Simbe Robotics, a USA based company.
The Robot is currently employed in Carrefour located in the Mall of Emirates of Dubai and as per the media reports, the robot is equipped with a scanner that can scan items on the shelves and can report back discrepancies in the items to the controlling authorities.
Tally scans the shelves three times a day, using Artificial Intelligence to provide real-time insights on missing,misplaced,unmarked and incorrectly priced items.Before alerting a member of the Carrefour store to fix the issue.
Tally is also equipped with cameras and sensors enabling it to avoid obstacles while roaming the store.
The employment of the robot in the mall has resulted in a 30% increase in accuracy, this is expected to decrease the human intervention for multiple tasks.
The implementation has reached a level where the robot can scan 30,000 products in an hour. The US company has been commissioned to build one thousand new robots that will join the UAE workforce by 2025.
UAE’s government has extensive plans for its Artificial Intelligence and Robotics sector. The plans are hyper-focused on areas that will have a massive impact on the business and investment sector of the country. These areas are enumerated below:
- Renewable Energy
- Management Systems (Traffic etc)
The Dubai government has implemented the following strategies:
- Smart Dubai Strategy
- Dubai 3D Printing Strategy
- Dubai Autonomous Transportation Strategy
In a nutshell, the impact of AI and robotics in our day-to-day life is immense. These technologies not only help us in making our life easier but also carve out enormous opportunities for global investors to come forward and set up a business in Dubai.
Advantages of Business Setup In Dubai:
Setting up a business in Dubai is beneficial for both international investors as well as for the local ones. The UAE is a country filled with absolute benefits for seasoned business owners and budding entrepreneurs.
The key perks of setting up a business Dubai are highlighted below:
- Complete exemption from tax
- No constraint on currencies.
- Custom Duty on import-export goods is non-existent.
- Multiple locations to choose from: Mainland, Free Zone and Offshore
- Full repatriation of capital invested and profits earned in case of leaving the country.
- Easy attainment of business licenses
- International exposure to enhance the company reputation and profile
- Investor Visas can be easily obtained
- Gateway to neighboring countries: Oman, Bahrain, Qatar, etc.
- Upcoming Expo 2020
The benefits, as mentioned earlier, attract international investors to step forward and set up a business in Dubai.
KWS Middle East is one of the best business setup consultants in Dubai. We provide high-end business incorporation services to our clients. Our business setup experts are talented, skilled and well-versed in the legal proceedings that are involved in company formation. We ensure a hassle-free start of your business in Dubai.
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