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During the 8th Chief Audit Executive Conference in Dubai, experts and analysts said that the UAE is moving ahead in the region in adopting Artificial Intelligence, AI, and smart technologies.
Professor Dr. Pierre Brunswick, CEO, Neuromem Technologies, during his presentation titled "AI Myths and Reality" on day one of the event said that the UAE appointing a minister AI is a great move, and added that the country is leading in terms of AI usage. He noted that deep learning, cybersecurity, jobs creation and ethics are myths while adopting AI.
Jenitha John, Senior Vice Chairman, the Institute of Internal Auditors Inc., during her presentation on "Adroit Auditing in a Transforming World" on day one of the event noted that refreshing and rebooting audit practices will help an organisation from the perspective of value creation.
Alaa Elshimy, Managing Director and Vice President Enterprise Group, Middle East and Pakistan, Huawei, during his presentation titled "Industry 4, AI and 5G" on the second day of the event, said that the UAE is leading the region in terms of adopting smart technology.
He noted that global spending on smart technologies is set to hit US$23 trillion by 2023, and the MENA region will spend around five percent of it. "Of this five percent, the UAE and Saudi Arabia are spending around 60 to 70 percent on these technologies," he added.
Elshimy lauded the Smart Dubai initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and added that it will further transform the country’s economic sector. He said that 5G and AI are complementing each other and helping companies.
"More than ushering in an era of increased convenience and connectivity, 5G opens up new cases that will shape the future of our world, such as cloud virtual and augmented reality, connected cars, smart cities and so on," he said.
He said that companies should plan long-term strategies in adopting smart technology, adding that by 2030, companies which have not transformed, would disappear.
Noting that there are a lot of challenges in adopting smart technologies, Elshimy said that reskilling the workforce is an urgent need.
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