Dubai – Mubasher: The UAE is moving forward and leading the region in adopting artificial intelligence (AI) and smart technologies, said experts and analysts during the 8th edition of the Chief Audit Executive Conference (CAE) in Dubai.

During his presentation titled “AI Myths and Reality”, CEO of Neuromen Technologies, Pierre Brunswick, commended the UAE for having an AI minister, noting the role of deep learning, cybersecurity, job creation, and ethics in adopting AI.

Moreover, refreshing and rebooting audit practices is advantageous for organizations from a value creation point of view, Senior Vice Chairman of the Institute of Internal Auditors (IIA), Jenitha John, remarked.

Global spending on smart technologies will reach $23 trillion by 2023, of which the MENA region will spend approximately 5%, with the UAE and Saudi Arabia accounting for 60% to 70% of this spending on technologies, according to Managing Director and Vice President Enterprise Group, Middle East and Pakistan, Huawei, Alaa El-Shimy.

El-Shimy further praised the Dubai smart initiative as it will transform the Emirati economic sector, stressing that tapping the 5G technology will bring an immense benefit to every market, reshaping the future through cloud virtual and augmented reality, in addition to connected car and smart cities.

Additionally, firms should plan long-term strategies for smart technologies adoption, he noted, adding that the firms that have not yet transformed would disappear by 2030. In this regard, he insisted that reskilling the workforce is indispensable in coping. 

It is worth noting that the presentation titled "Industry 4, AI and 5G," further noted the positive impact in ensuring safety and security after adopting the technologies of 5G and AI, autonomous cars, smart grid stations, autonomous mining, in addition to the digitalization of the oil and gas and smart medicine industries, as well as smart retail sector and smart airports.