Title: “UAE’s Strategic Investment in Generative AI Paves the Way for Sector Development”

Title: “UAE’s Strategic Investment in Artificial Intelligence: A Profound Vision for Growth”

Amit Joshi, Professor of AI, Analytics, and Marketing Strategy at IMD, emphasized the UAE’s significant investment in artificial intelligence (AI) and generative artificial intelligence (GenAI) during a session at the World Economic Forum – Davos 2024. He commended the UAE’s commitment to fostering an environment conducive to AI’s growth and maximizing its benefits across various sectors.

Professor Joshi highlighted that the current conditions in the UAE provide an ideal foundation for advancing progress in the AI sector, building on existing investments and policy developments. He stressed the importance of educating senior leaders in both the public and private sectors on the basics of AI and Generative AI, advocating for a policy framework that encourages experimentation while establishing sensible boundaries.

“The UAE has already shown vision and thought leadership in investing in GenAI. To maximize this opportunity, it should ensure that senior leaders from both the public and private sector are educated on the basics of AI and Generative AI, and make sure that AI policy allows for experimentation while also setting common-sense boundaries,” said Amit Joshi.

Emphasizing the significance of training senior leaders, Joshi underscored the need for a comprehensive understanding of Generative AI, its capabilities, and potential applications to enhance innovation in all sectors. The UAE’s Strategy for Artificial Intelligence aims to elevate government performance, establish a smart digital system, position the UAE as a leader in AI investments, and create new markets with high economic value.

As part of its initiatives, the UAE launched the ‘Generative AI’ guide, offering insights into the applications of Generative AI in diverse fields such as education, healthcare, media, and advanced sciences. The guide delves into the challenges and opportunities of various digital technologies, emphasizing data privacy and providing practical recommendations for effective management.

Featuring 100 use-cases and applications, the guide serves as a valuable resource for individuals ranging from new business owners and students to job seekers, offering practical insights into AI. Generative AI, a subset of AI, involves training machines to generate original data, including images, music, text, and videos, thereby contributing to innovative content creation beyond traditional AI capabilities.