AI adoption will add $135 bln to Saudi economy in 2030: report

The adoption of Artificial Intelligence (AI) solutions will contribute $135.2 billion, or 12.4 percent of GDP, to the Saudi economy in 2030, Dubai Technology Entrepreneurship Campus (Dtec) said in a new report.

The annual AI contribution to the Kingdom's economy is expected to grow at 31.3 percent between 2018 and 2030, it added.

On the other hand, the UAE will witness an annual growth of 33.5 percent between 2018 and 2030, with AI contribution to economy touching $96 billion in 2030.

Meanwhile, the report urges companies specializing in AI to dispel fears such as risk of security breach, data leaks, privacy threats, job replacement, lack of knowledge required by suppliers, and the absence of regulatory frameworks in many countries.

The report defines three types of AI. The first, Specialized AI, comprises solutions such as virtual assistants – Siri and Alexa, digital customer service, purchase options outlook, self-driving vehicles, and automatic fraud monitoring.

The second, Advanced AI, which enables machines to make decisions without training, learning, or pre-programming, and has not been achieved yet.

Third, Super AI, is expected to surpass the intelligence of the human brain. At present, it also exists only in the minds of scientists and researchers.