The rise of robots and its impact on Dubai's economy

The rise of robots and its impact on Dubai’s economy

** The advent of the robotics revolution has increased productivity and potential economic growth. **Against this background, Dubai launched a robotics and automation program, led by the Dubai Future Foundation, to grow its future economy.

An initiative that looks to drive the sector’s contribution to 9% of GDP over the next ten years.

The program was announced by the Crown Prince of Dubai and Chairman of the Executive Council of the Emirate of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. He revealed that this step aspires to advance the emirate to become one of the top 10 cities in the field of robotics and automation globally.

The effect of the automated economy

Khalfan Belhoul, CEO of Dubai Future Foundation He says that combined robotics and artificial intelligence will change the way we move. He noted, from healthcare procedures and surgeries to the consumer and retail sector, there will be a lot of involvement. He told Euronews: “We can only imagine sharing robots to benefit our daily lives when it comes to our retail experience. All the way from going to school to visiting doctors. So you’re likely to see more (advanced robotics) as we go __._ “

Challenges

Experts note that increased efficiency means a serious addition to the economy, while reports indicate that artificial intelligence could add up to 13 trillion euros to the global economy by 2030.

Commenting on the announcement, Scott Livermore, Chief Economist and Managing Director, Oxford Economics Middle East, stated that several pillars are needed to make this happen. He pointed out that if there is a comprehensive set of policies aimed at supporting investment in privatization and exploitation, and the continuation of policies to attract foreign investment and foreign talent, this policy can achieve great success.

“First, a clear and long-term strategic plan. Second, significant public investment in research and development, business science parks to develop an ecosystem, building appropriate educational infrastructure, as well as providing incentives to make companies invest in technology,” Euronews told Euronews.

200,000 robots

With the use of robots comes lower production costs, greater diversity of goods and services, as well as the creation of new jobs. As part of the program, 200,000 robots will be deployed over the next 10 years across the services, logistics and industrial sectors.

This potential is already reflected through a number of fully automated terminals around the world by the leading provider of supply chain logistics, DP World.

Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group and Chairman of the Ports, Customs and Free Zone Corporation, revealed that many of its stations are now fully automated. He told Euronews, “This is the future. We need to move faster. We need to move more goods and technology is the backbone of that. Boxpay [for example] It gives you almost 100% efficiency in handling warehousing and delivery.”

He added, “Safety is the top priority in terminal industries. So the fewer people there are, the better for us.”

The new initiative will focus on the five key areas of production and manufacturing, consumer and tourism services, connected mobility and logistics, harsh environments, and healthcare.

Real estate

According to Chris Roberts, Singularious Chairman and CEO of Eltizam Group, even the likes of real estate can see significant economic gains.

He says, “When we start putting the technology inside these assets, the key part is the conscious asset. That’s when the building tells you how to run it, how it should be run. When you get to the part of actually creating a conscious city, to make that happen, I need data, and I need to automation, and we should be in a different place than we are at the moment. His Highness’s announcement allows us to get to that place faster.”

As the move looks to adopt and develop the latest robotics technology, empower local talent, and create new and innovative solutions, whether we like it or not, AI and automation are set to be a part of our daily lives and their proliferation is only set to grow.

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