Market Insights

 

Artificial Intelligence (AI) holds immense potential to drive substantial economic value for the UAE and the GCC region.

According to McKinsey research, the adoption of generative AI (gen AI) across 63 identified use cases could create an estimated global annual economic impact of $2.6 trillion to $4.4 trillion. This represents a 15% to 40% increase over the value previously projected from other AI technologies, such as machine learning, advanced analytics, and deep learning.

 

Within the GCC countries, these same generative AI applications could contribute an additional $21 billion to $35 billion annually—on top of the $150 billion expected from other AI technologies. To put this into context, generative AI alone could account for 1.7% to 2.8% of the GCC region's annual non-oil GDP, underscoring its transformative potential for the region’s economies.