The United Arab Emirates has secured the sixth position in the global ranking for optimism regarding artificial intelligence, according to a worldwide study conducted by IFS (Industrial and Financial Solutions), a provider of cloud enterprise software and AI software. The study revealed that the UAE surpassed expectations and outperformed many major economies in this field.
The study, titled "Artificial Intelligence in the Industrial Sector: The New Frontier of Productivity, Innovation, and Competitiveness," involved over 1,700 senior decision-makers across manufacturing, telecommunications, aviation, defense, services, construction, engineering, energy, and resources sectors. The findings indicated that optimism about artificial intelligence is a direct indicator of the maturity of AI strategies within each company in the countries that were included in the study. Companies with revenues ranging between $200 million and $500 million were found to be the most optimistic in this regard.
The ranking of countries in the study was as follows: Norway, Sweden, France, Australia, Japan, UAE, Canada, Denmark, Finland, Germany, the United Kingdom, and the United States. The study forecasted that the adoption of AI technologies would significantly impact growth, productivity, and competition, leading to tangible consequences on the balance of power among nations.
The results of this study serve as a wake-up call for companies that have been slow to adopt artificial intelligence, emphasizing the need for a clear AI strategy to maintain their competitive edge in the global market. In this context, Christian Pedersen, Executive Director of Products at IFS, stated: "At first glance, the low level of optimism among some participants may suggest that we are on the verge of disappointment, especially following the significant buzz around AI over the past 18 months. However, what we are actually witnessing is that companies are distinguishing themselves and their positions through AI, so organizations that have established a strong data foundation, invested in skills, and incorporated sustainability into their strategy feel optimistic about the technology because they can quickly see the benefits. It is important for leaders to view AI as a strategy, not just a tool."
Pedersen added: "Our research provides direct evidence that the market is divided between those who have adopted AI and those who have not." He emphasized that the expected return from AI, which could provide up to $4.4 trillion to annual corporate profits, pressures companies to adopt and adapt to this technology. However, the absence of a clear strategy means that AI initiatives are vulnerable to being stalled.
