30% Average Growth in Artificial Intelligence’s Contribution to the Saudi GDP
A technology and communications expert revealed that the average contribution of the annual growth of artificial intelligence applications to the Saudi GDP is estimated at 30% pointing out, that Artificial Intelligence has become a key pillar to ameliorate fundamental services such as healthcare, education, banking and finance and manufacturing.
This came during the official inauguration of AVAYA’s new office at the Information Technology and Communications Complex (ITCC). The Vice President AVAYA in Middle East, Africa & Turkey, Fadi Hani, explained that the growth in Saudi Arabia does not come as a surprise given its investments in Artificial Intelligence compared to the rest of the Middle East especially, that Saudi Arabia ranked among the top 50 countries in the world in the 2017 Global Innovation Index.
“PWC estimates that Artificial Intelligence may contribute to the global economy 15.7 trillion dollars by 2030, 320 billion of which, are expected to be from the Middle East – equivalent to 2% approximately. Artificial intelligence is said to contribute more than 135.2 billion dollars to the Kingdom’s economy by 2030 which is equivalent to 12.4% of the total Saudi GDP.” said Fadi Hani.
According to AVAYA’s recent survey, Fadi Hani explained that there is evidence supporting the importance of using artificial intelligence in Saudi Arabia given that 65% of Saudi respondents prefer artificial intelligence when dealing with large organizations in the Kingdom.
"Customer service is today one of the most important areas of digital innovation," he added. "This is based on increasing self-service offerings, providing more diverse and integrated channels of communication and ensuring speed and efficiency when dealing with each customer. Digital innovation is an essential component of all corporate operations and is in line with Vision 2030, especially within the context of digital transformation.
He went on to say that “One of the main focal points of digital transformation is the increasing use of Artificial Intelligence in the Kingdom and the belief that such technology will accelerate the shift towards a more technologically advanced economy.”
AVAYA is a 125 years old American multinational technology company that has existed in the Saudi market for the past two decades with a market share of 20%. It has recently inaugurated its new office in Riyadh with the first of its kind Customer Experience Center for digital innovation. The Customer Experience Center offers a platform to design and experience innovative solutions made by Saudis which helps uplifting the local talent in line with Vision 2030.