The United Arab Emirates has emerged to be one of the topmost countries in the Middle East which has displayed enough willingness and readiness to adopt the latest technologies.
According to the United Nations Technology Index, the United Arab Emirates has captured the 37th spot out of 166 countries in assimilating the latest technologies such as artificial intelligence that focus on green and sustainable innovation.
The country has obtained the highest score among the other Arab countries. It has basically moved five spots from the 42nd rank to the 37th rank.
The United Arab Emirates has become the global hub of innovation and talent
This move has shifted the country from the ‘upper-middle group to the ‘high-score’ group. The rankings have been released by the Ministry of Industry and Advanced Technology.
The UN Conference on Trade and Development has released the Frontier Technologies Readiness Index 2023 recently. This index ranks the countries on the basis of their technological development and deployment.
In fact, it analyses the acceptance of information and communication technology in developing skills, research, industrial activity, financial management, and software development.
According to the report, the United Arab Emirates has successfully incorporated transformative technologies to boost the efficiency of various industries. The aim is to reduce emissions, accelerate the energy transition, and switch to a sustainable model of development.
The country is working efficiently in order to pioneer cutting-edge technology that helps to promote sustainable development and contribute towards the decarbonization of economic factors.
The government expenditure on the promotion of digital technology such as artificial intelligence, the Internet of Things, blockchain, robotics, and green energies has exponentially increased over the period of years.
The Government of Dubai has recently approved an additional budget of USD 20 billion for the development of these technologies and their subsequent incorporation across various sectors of the economy.
The digital economy of Dubai is expected to grow at a valuation of more than USD 140 billion by the end of 2031. At present, this is valued at USD 30 billion. This report has been published by the Dubai Chamber of Digital Economy and testified by the World Bank.
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the rank that has been achieved by the country is evidence of the commitment of the government and ministerial departments towards revamping the industrial strategies.
The most effective initiative that has been launched by the Government has been the Net Zero initiative.
This campaign will go a long way to fostering climate technologies and elevate Dubai’s position as a global leader in contributing towards controlling and mitigating climate change.
Dubai has outperformed countries like China, India, and Vietnam with the help of its efforts. The Government has further eased the investment rules and now, it has become feasible for the software and technology companies in Dubai to receive active investment from foreign direct investment and foreign portfolio investment. Dubai has inspired the United States of America and Singapore to become leaders in digitizing the economy.