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Dubai tops global rank in attracting FDI for AI and robotics

Dawood Al Shezawi is the CEO of AIM organising committee. (Image source: AIM)

Dubai has ranked first globally in attracting foreign direct investments (FDIs) for artificial intelligence (AI) and robotics, while the UAE ranked sixth in the global smart service index, surpassing the USA, UK and South Korea

These figures have been released prior to the Annual Investment Meeting (AIM), which will be held from 8-10 April 2019 in Dubai.

The emirate attracted US$21.6bn worth of FDI in high-end technology transfers from 2015-2018, with the value from the European Union (EU) and the USA being US$5.7bn and US$3.9bn respectively.

The organisers of AIM said that digitalisation is becoming an increasingly important part of globalisation. Dubai?s top rank for AI and robotics highlights that the city is fast emerging as the global destination for investment in smart technologies.

While AI adoption is expected to account for 45 per cent of the world economy?s total gains by 2030, the UAE ranks first in the Arab world with expected annual growth of AI contribution at 33.5 per cent, followed by Saudi Arabia at 31.3 per cent, the rest of the GCC region at 28.8 per cent and Egypt at 25.5 per cent.

AIM 2019, one of the world?s leading platforms for FDI, focuses on facilitating strategic networking and promoting investments, bringing together high-ranking policy makers, business leaders, regional and international investors, successful entrepreneurs, leading academics and financial experts who will be sharing information and strategies on attracting FDI.

Besides these, the experts are set to highlight mechanisms for enhancing tech solutions to draw FDIs, in addition to discussing internal and external incentives that encourage companies to adopt these solutions. The three-day exhibition will provide opportunities for governments and private organisations to launch and promote their projects to a diverse audience.

?Disruptive technologies like AI, blockchain, internet of things (IoT) boost the productive capacity of countries and also the global GDP. To maximise its benefits, countries need to integrate new avenues that will drive more investments in these solutions,? said Dawood Al Shezawi, CEO of AIM organising committee.