What might generate the UAE $6bn annually, get you fired and even kill you?
Look at your boss and remember his or her face.
No matter your relationship with them, pretty soon your boss will be faceless, ruthless and will be looking to fire you at any moment’s notice.
Artificial Intelligence is garnering praise for its ability to create efficiency, save time and labor and generate income, as is the case for the UAE.
Great, but that means you could be out of a job you love.
Also, trusting this technology too much could also put your life at risk.
So what’s the good news for UAE?
Money and productivity
The UAE’s Ministry of Economy (MoE) said the country aims to become the global centre of AI by 2030 and has a dedicated AI ministry.
UAE’s national news agency WAM said that AI will reduce the government’s annual spending by 50%, thanks to limiting the number of paper-based transactions.
WAM quote an MoE report that anticipated UAE’s AI strategy to produce around $6bn in annual income spread over several economic sectors.
“Individual productivity will be raised by 13%, saving 396 million hours annually from commuting, reducing transportation costs by 44%, limiting carbon emissions and environmental pollution by 12%, limiting traffic accidents and their resulting losses by 12%, and reducing the need for parking spaces by 20% by 2030,” the report said.
The report did mention that as a result the number of foreign workers will be reduced.
AI: Selling tool
Salesforce, a global leader in CRM, recently announced Salesforce Essentials—easy-to-use, intelligent apps for small business teams.
According to Salesforce, there are more than 125 million small businesses around the world and small business teams spend 23% of their workdays on average manually inputting data, instead of spending it finding, winning and keeping more customers.
Salesforce Essentials includes Einstein Activity Capture, which automates manual data entry to make sales and service reps more productive. When reps receive emails and calendar events, Einstein automatically adds messages to the appropriate record in Salesforce, freeing up the rep’s time to focus on engaging with customers. All of the captured messages provide a rich history of engagement with each customer.
Gartner says that by 2020, 30% of all B2B companies will employ AI to augment at least one of their primary sales processes.
“AI in sales allows for more efficiency and effectiveness in business processes, often with up to 30% higher conversion rates when engaging prospects or leads,” according to Gartner.
AI soldiers against cyber attacks
Damages from cyberattacks could cost the world around $6 trillion annually by 2021, according to the American research firm Cybersecurity Ventures.
A Global Information Security Workforce Survey reveals that only 19% of Middle East participants can attribute the majority of the security breaches experienced by their companies to known vulnerabilities.
Nothing can solve that problem better than AI and machine learning solutions, at a time when global and local cybercrime rates are being reported at an all-time high.
Forbes Middle East checked the Kaspersky cyberthreat real-time map, an interactive visualization of data streams, and as of Thursday identified the most cyberattacked countries in the Arab world.
“Ranked at the 17th place worldwide, Saudi Arabia faces the highest number of cyberattacks in the Arab region, while the UAE came second, ranked at the 18th spot globally,” said Forbes.
Most of the Saudi threats targeted government entities, energy and telecommunication sectors, according to the Saudi National Cyber Security Center.
Meanwhile 615 cyberattacks in the UAE were foiled by the Telecommunications Regulations Authority (TRA) during the first 10 months of 2017, according to statistics revealed by TRA.
AI can kill you
Statista recently revealed that a woman in Arizona, US, was tragically hit and killed by a self-driving car.
The vehicle was part of Uber’s autonomous driving test fleet, and was in self-driving mode at the time of the crash and became the first fatal accident involving a self-driving car and a pedestrian.
This lead to UBER halting all testing of autonomous cars for now until an investigation is completed.
“Unsurprisingly, safety and the ability of self-driving cars to avoid mistakes are among the biggest concerns of people opposed to autonomous vehicles, as a report published by the Boston Consulting Group in 2016 showed,” said Statista.
In 2017, more than 37,000 people died on US roads, but will that one accident involving a self-driving car scare people off?
Courtesy of Statista (www.statista.com)