Internet of Things (IoT) to contribute US$ 96 Billion towards UAE economy

Internet of Things (IoT) to contribute US$ 96 Billion towards UAE economy

With a sharp increase in the adaptation of Internet of Things (IoT), the innovations within the sector is growing at an alarming rate both regionally and globally. More than 460 million personal IoT devices in the Middle East and Africa (MEA) region are used by 173 million internet users. The number of personal IoT devices is expected to increase to 890 million by 2020 and will interact with 208 million users in the region. The constant innovations and new economic opportunities emerging in Dubai / UAE, is expected to further increase AI adoption in the country, which will contribute to around Dh 352 billion contribute (USD $96 billion) towards the UAE’s economy by 2030.

The 6th edition of Internet of Things Expo (IoTX) recently concluded at Dubai World Trade Centre (1-3 May 2018). Over 7,500 technologists, innovators, decision makers and end-users from IT security, electronics devices, wearable devices, blockchain and artificial intelligence sectors participated in the event. More than 120 brands and exhibitors across 80 countries showcased the latest products and services to meet the growing demand for critical online security and blockchain solutions. The event focused on connecting digital innovators, decision makers, consumers and tech enthusiasts from across the region and beyond to discuss the latest tech innovations, artificial intelligence and smart solutions in IoT. Events such as IoTX 2018 will shape the agenda for the future of IoT in the region.

Internet of Things Expo – Highlights

The IoTX was inaugurated by Lieutenant General Dhahi Khalfan Tamim, Deputy Chairman of Police and Public Security in Dubai. Several organizations from different sectors such as IT security, electronics devices, wearable devices, artificial intelligence, banking & finance, business consulting and other government agencies participated in the event. There were several major innovations that were highlighted during the three day expo. Some of these innovations are listed below

Body-Controlled Jet Engine Power Suit

Richard Browning (ex-Royal Marine – British Armed Forces) Founder and Chief Test Pilot, Gravity Industries, demonstrated his body-controlled jet engine power suit ‘Daedulus Mark I’ during the expo. The specially-designed exoskeleton flight suit, incorporates five miniature jet engines – two mounted on each arm and one in a backpack. Each engine provides 22 kg of thrust to achieve vertical take-off and control the direction and speed of flight using the arms.

Artificial Intelligence RoboCop – Dubai Police

Brigadier Khalid Nasser Al Razooqi, Director General of Artificial Intelligence in Dubai Police showcased their new AI RoboCop prototype that would help in fighting crime. The RoboCop is designed for deduction as well as prediction of crimes. The prototype is expected to be functional by the year 2040.

Artificial Intelligence Music composition

AIVA Technologies, a leading European Artificial Intelligence (AI) music composition startup, displayed their latest technological innovation in the expo. They composed music ‘Ode to Dubai’ using the Artificial Intelligence Virtual Artist (AIVA). The technology is expected to compose original classical scores for film, advertising and gaming soundtracks. The ground-breaking song was composed based on the algorithms of 30,000 symphonic music scores from history’s greatest composers including Mozart, Beethoven and Bach.

UAE Market Outlook – Internet of Things (IoT)

With the rapid growth in technology and the consumer demand for constant innovations, the demand for Internet of Things is significantly increasing in Dubai, UAE and MEA region. According to industry experts, currently, more than 460 million personal IoT devices in the Middle East and Africa (MEA) region are used by 173 million internet users. The number of personal IoT devices is expected to increase to 890 million by 2020 and will interact with 208 million users in the region

The constant innovations and new economic opportunities emerging in Dubai / UAE, is expected to further increase AI adoption in the country, which will contribute to around Dh 352 billion contribute (USD $96 billion) towards the UAE’s economy by 2030. Conference and exhibitions such as IoTX 2018 will shape the agenda for the future of IoT in the region.

The growth in internet usage, increasing demand for e-Commerce sector, government initiatives to convert Dubai into a smart city and the rising population in UAE (10 million by 2020) has increased the demand IoT. Investment in these sector is expected to be lucrative for the next 5 years.

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