From New Zealand to Saudi Arabia: How is AI helping Middle Eastern and Oceanic businesses?

One of the biggest technological advancements in recent years has been through AI or artificial intelligence. It is a new race for some of the biggest tech companies in the world to be able to provide the facilities for the next AI revolution. And AI itself is transforming businesses and industries worldwide. There is no single country or region of the world that is an exception to this.

It is absolutely going to transform the way businesses are run and how we interact between businesses in the current modern business climate. It has transformed many different industries, including the online casino industry in New Zealand, to name just one of the Oceanic countries. And if you want to experience it, here is the ultimate online casinos NZ list.

The influence of AI globally

And businesses located both in the Oceanic and Middle Eastern regions are no exception to the influence of AI. Of course, the two major powers in the world, the United States and China, are leading the way and will, of course, take up the majority of the AI market and the economic benefits that stem from it. However, this still leads 30% up for grabs for countries within both the Middle East and through the Oceanic region. Take Saudi Arabia as an example. They are a country whose economy is primarily based on oil, natural gas, and other related exports.

This accounted for a lot of their economy and is what has turned the country into the economic powerhouse that it is today. That and their relationship with the United States have turned the extraction operation into a well-oiled machine that has significantly benefited both countries financially. This is also the same story for a lot of the Gulf nations and their respective economies.

Saudi Arabia’s economic diversification

However, as the stocks of what they can extract start to near the end, the government realizes that it needs to diversify its economy into other areas. And so they set their focus on utilizing and investing in AI as much as they could. They have laid out a vision, which is called the 2030 Vision and this is basically a set of aims and targets that will result in the economy not being solely dependent upon export industries like it was previously and instead focusing on other industries. And a staggering 66 of the objectives within this vision are linked directly to AI applications that have been developed and are currently in development.

UAE’s investment in AI

It’s speculated that the total economic impact in terms of revenue just in the Middle East alone for the AI industry comes to around $320 million. With the largest portion of this revenue going to Saudi Arabia, Another country in the region for whom AI is going to be particularly lucrative is the neighboring UAE. For many years ahead of Saudi Arabia, they have been weaning themselves away from the dependency of oil revenue and, as such, are advancing technologically at a staggering pace. And so it’s no surprise that the Emirates across the region have turned their attention towards the benefits that AI could bring to the region.

So what examples do we have of AI in the current economy and infrastructure within the country at the moment? Well, at the moment, the UAE, for example, is testing self-driving cars that are being powered and run by AI. As well as pioneering and developing the first ever flying taxi service, which also utilizes the intelligence of AI in order to make decisions. Other areas of industry that AI investment is being poured into include healthcare, education, hospitality, and banking and finance.

The influence of AI in Australia

So, moving away from the Middle East for a second and towards the Oceanic region, AI is also being adopted within the country of Australia but with a bit more of a cautious approach whereby the Australian government has developed a risk-based approach whereby they will look at risk against reward in order to approve certain applications within AI. The main concerns within Australia have been about its influence on democracy as a whole. With made-up content and faking being sued to swing public opinion with fake news.

In Summary

Over the next decade, we will start to see AI flourish in many different countries throughout the world. It is going to absolutely revolutionize any industry that it touches. And as we have learned today, there are some countries within the Middle East and Oceanic regions that are poised to take advantage of this lucrative opportunity and the economic benefit it can bring to their respective countries. And how much they implement AI into their respective cultures and industries will also be very interesting to hear about.