Qatar is in the throes of huge inter-sectoral investments and programmes on artificial intelligence (AI) spanning information technology, telecom, education, venture capital, healthcare, energy and finance with Qatar government’s US$2.5 billion investment in data and AI, outlining its ambition to generate US$11 billion for the national economy and creating 26,000 jobs.
While the market size in the AI market is projected to reach US$428.40 million in 2024 with an annual growth rate (CAGR 2024-2030) of 28.66 percent, resulting in a market volume of US$1,943.00 million by 2030, the national investment of US$2.5 billion is tipped to create 26,000 jobs in the country.
These data were released by a joint report by Invest Qatar and global consulting firm Accenture at the inaugural World Summit AI – Qatar 2024.
The report has furthered that with the thrust on Qatar is aiming to rank among the top 10 globally on the Digital Competitiveness Index by 2023.
This investment swing – with active collaboration between the private and the public sectors on transformative initiatives – in AI is Qatar’s push to move its economy away from its over-reliance on hydrocarbons which, according to the International Trade Administration, “has consistently contributed to over 70 percent of the government of Qatar’s total revenues since 2014, as well as over 80 percent of Qatar’s total exports”.
Qatar also ranks first in the Gulf Cooperation Council (GCC) for digital governance and mobile internet speeds, supported by Microsoft Azure and Google Cloud, with the launch of AI-specific education programmes and research initiatives, aiming to increase the percentage of highly skilled workers to over 46 percent by 2030.
The bedrock laid out by Qatar National Vision 2030
Today’s AI thrust has been a gradual journey that started with the Qatar National Vision 2030 which aimed to create “an advanced society capable of sustaining its development and providing a high standard of living for its people”, a step further taken by the National AI Strategy that was launched in 2019, providing a comprehensive understanding of AI’s pivotal role in shaping the 21st century. The Ministry of Communications and Information Technology (MCIT) has tirelessly championed an environment conducive to AI innovation, resulting in a flourishing landscape. Numbers talk, and they predict annual growth of 17.4 percent, propelling Qatar’s AI market to an estimated US$58.8 million by 2026.
What is AI?
AI, a branch of computer science, focuses on creating machines able to perform tasks traditionally requiring human intelligence, and includes a wide range of applications, such as speech recognition, image processing, and autonomous vehicles and has seen rapid growth in recent years due to advancements in technology and increased investment. The AI market includes software, hardware, and services that enable organisations to develop and deploy applications and the market is structured into six sub-markets based on the technology:
- The Computer Vision market (covering applications that enable computers to interpret and understand digital images and video data).
- The Machine Learning market (covering the use of algorithms to enable computer systems to learn from data).
- The Natural Language Processing market (covering applications that enable computers to understand, interpret, and generate human language).
- The Artificial Intelligence Robotics market (covering the combination of AI, machine learning, and engineering to create intelligent machines that can perform tasks autonomously).
- The Autonomous & Sensor Technology market (covering machines and systems that operate independently by using sensors, AI, and machine learning to respond to changes in their environment).
- The Generative AI market (covering artificial intelligence that involves creating models capable of generating new content, such as images, videos, and text, which are indistinguishable from content created by humans).
Source: https://www.statista.com/outlook/tmo/artificial-intelligence/qatar
