Qatar invests $2.4 billion to boost AI capabilities, attracts global tech leaders

Doha: Qatar is a pioneer in artificial intelligence (AI) technology in the MENA region, investing a massive $2.4 billion (QR8.75 billion) in incentives to strengthen the sector’s capabilities and attract technology experts from around the world.

In an interview with The Peninsula, Faisal Al Monai, co-founder and CEO of droppGroup, noted that the investments are part of Qatar’s broader approach to building a smart economy, with digital investments expected to reach $5.7 billion (QR20.77 billion) by 2026, up from $1.65 billion (QR6.01 billion) in 2022, according to some market intelligence firms.

Faisal Al Monai, co-founder and CEO of droppGroup.

He said: “Artificial intelligence has had a significant impact on Qatar and the entire MENA region, increasing productivity, efficiency and innovation across sectors.

AI initiatives such as the Fanar AI project have been launched in Qatar to improve language programs and support digital transformation.

The market expert noted that the MENA region is seeing “significant progress” in AI adoption and development.

“In Saudi Arabia, the National Data and AI Strategy aims to secure $20 billion (QR72.88 billion) in investment by 2030, making the Kingdom a global leader in AI. This ambitious initiative includes training 20,000 AI professionals and creating over 30,000 AI jobs as part of Saudi Vision 2030,” Al Monai said.

In addition to Saudi Arabia, countries like the United Arab Emirates are also making great progress.

The UAE has launched the Mohamed bin Zayed University of Artificial Intelligence, the world’s first postgraduate university in artificial intelligence, underlining the country’s commitment to becoming a global centre for AI research and development.

On the other hand, the industry leader emphasized that Qatar is using AI to improve various areas such as healthcare, education and transportation, thus contributing to its vision of a knowledge-based economy.

Al Monai said: “Collectively, these actions underscore the MENA region’s commitment to leveraging AI to support economic growth and innovation, making it a thriving landscape for technological advancement.”

However, AI technologies are being used across a range of industries across the region, driving innovation and efficiency, the official said.

He stressed that in Saudi Arabia, the leaders are such key sectors as energy, healthcare and public administration.

Organisations like Saudi Aramco are using AI through initiatives like Metabrain AI to increase energy efficiency and optimise drilling operations.

In the UAE, the transportation and logistics sector is implementing artificial intelligence to improve traffic control and facilitate the use of autonomous vehicles.

The healthcare industry is also making significant progress with technology used in diagnosis, patient care and streamlining administration.

“Qatar is leveraging AI in education, employing AI-based platforms for personalized learning experiences and administrative management. The country’s financial sector is also adopting AI for fraud detection, risk management and customer service
“improvements,” Al Monai added.

Experts from across the region emphasize that these industries demonstrate diverse applications of AI technologies that drive productivity, innovation and the economy.
growth.