Artificial intelligence (AI) is set to revolutionize the technology landscape in the Middle East and North Africa (MENA) region, with rapid advancements in the sector driving adoption across industries. According to a new report by start-up data platform Magnitt, governments in the region are focusing on leveraging the benefits of AI and encouraging its adoption.
The healthcare industry has been one of the major beneficiaries of AI, with its use in areas such as diagnosis, telemedicine, and drug discovery. In addition, AI is blurring the lines between healthcare, enterprise, and fintech by providing insurance for healthcare professionals and offering revenue cycle management tools for healthcare organizations.
Governments in the MENA region are recognizing the potential of emerging technologies and are taking steps to implement them in their economies and societies. Blockchain, cryptocurrencies, and the Internet of Things are notable technologies that have been capturing the attention of organizations and individuals, but AI and machine learning are by far the most popular.
One of the key drivers of the popularity of AI in the MENA region has been the rise of generative AI, thanks to OpenAI’s ChatGPT, which has kicked off a race with Google’s Bard. Generative AI has drawn interest from Twitter chief executive Elon Musk and prompted Apple to work on improving its digital assistant Siri.
Investors have poured more than $4.2 billion through 215 deals into generative AI start-ups in 2021 and 2022 after interest surged in 2019, recent data from CB Insights showed. This surge of investment in generative AI startups is indicative of the growing interest in technology in the MENA region.
As AI continues to develop, it is expected to transform various industries in the MENA region, creating new opportunities and driving economic growth. Governments in the region are focusing on building a supportive ecosystem for AI, encouraging innovation, and attracting investment from global companies. With the potential to revolutionize industries such as healthcare, finance, and transportation, AI is set to play a significant role in the future of the MENA region.
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