AI Opportunities for Startups in UAE

Artificial Intelligence is making the world smarter and businesses profitable. If you are a Start-Up in the UAE region, you make a note of it. The country is becoming the world’s favorite AI destination for Start-Ups and SMBs. It is estimated that by  2030, the UAE will accrue 2% of the global AI benefits worth $320billion!And AI contribution to the UAE GDP annually is forecast to be more than  20% in the journey. The UAE is increasingly becoming the hub for AI Start-Ups and entrepreneurs. Let’s navigate further!

Key Sectors Adopting AI

As per the UAE  AI-strategy roadmap for development, the priority sectors figured are –

  • Resources & Energy sector
  • Logistics & Transport
  • Healthcare
  • Tourism & Hospitality
  • Cybersecurity

Let’s have a closer look at some of the key areas where AI is already creating a path for development garnering business goals:

1. Autonomous Vehicle

The UAE-AI strategy incorporates the plan for making 25% of road vehicles autonomous by the year 2030. This will lead to reduced operational costs and reducing accidents on roads. However, there’s much space to innovate in this ­­segment, assuring perfection in autonomous navigation, and autonomous driving. Smart Dubai has already started a digital transformation program that focuses on this model of vehicle interconnecting cities. Autonomous cars, autonomous boats are striking AI-driven examples driving the automobile sector in the UAE with a long-term vision to make them reach the market for all.

2. Recruitment & Talent Acquisition

The recruitment sector has a long-standing relationship with the unbeatable AI. Artificial Intelligence/Machine Learning- NLP-powered solutions, apps, help to streamline hiring processes, and as per studies, it is revealed that 75% of applications are rejected by AI-powered ATS(applicant tracking system) before they reach hiring managers. Varied AI-driven software help to scan in a manner that can detect, select the best fit for a specific position in hiring companies. AI-enabled Voice Analytics NLP(Natural Language Processing) is increasingly helping the sector and creating massive business opportunities for Start-Ups.

3. Smart Medical Devices

AI is already playing a significant role in the segment of medical equipment and devices. The focus is to enhance patient outcomes by creating a cost-effective diagnosis system that can suitably assist healthcare professionals, too. As the healthcare industry is data-rich, the time to market new medical devices becomes a lengthier process. However, with AI-ML-driven smart medical devices, it is easier to overcome this challenge as well. Smart medical devices like IoT-powered sensors, diagnostic imaging systems can detect high-risk conditions such as lung cancer, heart disease.AI powered medical devices can diagnose heart scans with a higher level of accuracy as compared to human cardiologists. AI-ML machines extract real-time valuable insights helping providers in their better decision-making process. For instance,  cardiologists can decide now whether to conduct operations, surgeries for specific patients!

4. Online Retail

AI-Ml-driven online retailing is the sector where consumers are having the best shopping experience while retailers are managing huge cost-savings and inventory management. Right from the UX(User Experience), logistics tracking to the fulfillment/delivery part, AI is enhancing customer experience immensely. Predictive analytics, sales forecast, demand forecast, personalized recommendations, all are valuable AI features that online retailing is leveraging to its full potential. The UAE has huge market potential for the online retail sector and Start-Ups should leverage this opportunity to adopt AI to their business goals.

5. Travel & Tourism

Artificial Intelligence has massive use cases in this sector.AI powered mobile apps and solutions can help massively for hassle-free check-ins in airports, shopping centers, tourist places, custom points, immigration points, etc. An AI-powered facial recognition system can help and make the documentation process easier and faster. AI-ML NLP chatbots help the sector enhance customer experience 24×7. Language translators, Predictive Analytics, AI-enabled smart robots for hospitality, etc. are the massive capabilities of AI technology that businesses are leveraging at their best level.

Point to Ponder

Start-Ups, aspiring entrepreneurs, what stops you now? The UAE’s long-term vision has AI at the top of its list.  Embrace this cutting-edge technology, launch your business that resonates with your industry and get a competitive edge over your peers. Plan your moves, and consult a dedicated technology company that can guide you from the scratch.

Are you a Start-Up or SMB in the UAE and want to explore the massive potentials of AI that can boost your business returns? Contact our experts.