Experts and analysts revealed during the 8th Chief Audit Executive Conference (CAE) in Dubai that the UAE is marching ahead in the region in adopting Artificial Intelligence and smart technologies.

Prof. Dr. Pierre Brunswick, CEO, Neuromen Technologies, during his presentation (AI Myths and Reality) on day one of the event mentioned that UAE having a minister of Artificial Intelligence is a great move, adding that the country is leading in terms of usage in AI. He noted that deep learning, cyber security, jobs creation and ethics are myths in adopting AI.

Jenitha John, Senior Vice Chairman, The Institute of Internal Auditors Inc, during her presentation (Adroit Auditing in a Transforming World) on day one of the event noted that refreshing, rebooting the audit practices will benefit the organization 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 mentioned the UAE is leading the region in terms of adopting smart technology. The UAE is known as a pioneer when it comes to adopting new technologies.

He noted that the global spending on smart technologies set to hit $23 trillion by 2023 among which the MENA region will spend around 5 per cent of it. Out of this 5 percent, the UAE and Saudi Arabia are spending around 60 to 70 per cent on these technologies,” he added.

Alaa lauded the Dubai smart initiative launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, adding that it will further transform the country’s economic sector. He mentioned that 5G and AI are complimenting each other and are benefiting the companies. He expressed his confidence that adopting 5G will bring immense benefit to every market.

“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 is cloud virtual and augmented realty, connected cars, smart cities and so on.”

“5G operates on a more limited range than earlier networks, which enables it to offer faster speeds and more bandwidth.

He mentioned that companies should plan long-term strategies in adopting smart technology, adding that by 2030, companies who have not transformed, would disappear.

He highlighted that adopting 5G and AI, autonomous cars, smart grid stations, autonomous mining, Digital oil and gas field, smart medicine industry, smart retail sector and smart airports have transformed the industry. Apart from reducing labour force adopting these technologies have also ensured safety and security.

Alaa noted that there are a lot of challenges in adopting smart technologies. He mentioned that reskilling the workforce is an urgent need to cope with the joblessness.