GMI Research recognizes Accubits Technologies as a leading market player in their research report in the GCC region Artificial Intelligence market – Opportunities and Forecast, 2019-2026. In today’s competitive market, Artificial Intelligence has become a subject of intense interest. It’s a topic of exploration and growth in the business industry. The technology is now being used in an ever-expanding array of products and services. As the momentum behind artificial intelligence continues to build, investors are keen to position their portfolios to benefit especially in GCC countries.
In the GCC Region especially in countries like UAE and Saudi Arabia, there is a tremendous adoption and implementation of AI Technology solutions across a variety of industries. The AI market of GCC has been segmented based on offering, technology, and end-user. The offering market is categorized into hardware, software, and services. When it comes to technology, the market is segmented into Machine Learning, Natural Language Processing (NLP), Deep Learning, Computer Vision, etc. The end-user market is categorized into Healthcare, BFSI, Retail, Manufacturing, Automotive & Transportation, Agriculture, Manufacturing, Media & Entertainment, and Others.
The reasons that drive the market growth of AI in this region is mainly due to the growing number of internet users and connected devices. Apart from that many governments in the GCC region are endorsing the use of AI Technologies and wants to become a global leader in the technology. They are heavily investing in the government and private sector towards AI supremacy. For instance, back in 2017, the government of UAE launched the UAE Strategy for AI to boost productivity and performance, especially in the field of education, transportation, energy, and technology. Meanwhile, Saudi Arabia announced an investment of $500 billion in mega smart city project called “NEOM” in the county which will make use of technologies such as AI, big data, and IoT. It is estimated that increasing consumer demand for AI-enhanced products and services will further fuel the market growth of AI in GCC countries.
The GCC AI market is home to many leading market players and Accubits Technologies is one among them. Having a business office in UAE, Accubits Technologies is able to cater not just the GCC but to the whole MENA region.
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