The application of artificial intelligence (AI) could increase the GDP of Middle Eastern countries by US$320 billion by 2030, which would account for approximately 2 per cent of the expected global profits from the use of this technology. This was stated by Khaled Hanafi Secretary General Union of Arab Chambers (General Union of Arab Chambers of Commerce, Industry & Agriculture), at an AI forum in El Alamein, Egypt.
According to him, the Arab countries’ AI initiative is aimed not only at economic growth, but also at creating new jobs, developing science and technology, ensuring food and energy security, and achieving sustainable development goals, reports Sada el-Balad, a partner of TV BRICS.
Hanafi also emphasised the key role of the private sector. Small and medium-sized enterprises create more than 85 per cent of new jobs in the region, so their involvement in digital transformation is essential to maximise the impact of AI implementation, he said.
In addition, he noted that the Union of Arab Chambers of Commerce Industry & Agriculture serves as a platform for coordinating the actions of businesses and governments, supporting start-ups and introducing technologies into the economy, which will transform the Arab AI Initiative into a tool for sustainable economic growth.
Photo: cherdchai chawienghong /
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