Dubai: Companies in the UAE are keen to invest in AI to take their operations to the next level, but there is still uncertainty about the best way to go about it.
A new survey by Dell Technologies found that eight in 10 respondents in the UAE are “struggling to keep up” with the investment and strategic rethinking required to implement artificial intelligence in their operations.
The biggest hurdle
There remains a shortage of “the right talent,” according to 31% of respondents, with data privacy, cybersecurity concerns and budgetary constraints topping other challenges facing organizations.
“We expect blue chip companies to be at the forefront of AI adoption for a variety of reasons,” said Walid Yehia, UAE managing director for Dell Technologies. “Driven by financial strength, risk tolerance and access to talent, blue chip companies are strong candidates to be early adopters.”
“This is especially true for companies that are already investing in AI research and development, and for industries such as finance and healthcare where blue-chip companies stand out.”
It also means that businesses that have not yet reached the necessary operational and financial scale will have to continue playing catch-up.
Half of survey respondents remain uncertain about what their industry will look like in the next three to five years.
Don’t overlook AI
“GenAI (generative AI) and AI will significantly change industries in the future, with 91% of organizations reporting a significant increase in revenue (+25%) in 2023,” Yehia said, “and 75% reporting low growth (1-5%), flat growth, or a decrease.”
“More broadly, responses (to the Dell survey) suggest that organizations are already working on the practical application of GenAI in moving from ideation to implementation, with 58 percent saying they have begun implementing GenAI.
“This indicates that while blue-chip companies may be leading the way, broader adoption will follow as businesses of all sizes recognize the transformative potential of AI.”
How to attract talent
Two-thirds of those surveyed by Dell in the UAE noted a talent shortage in their industry to innovate.
“Learning agility and enthusiasm, AI fluency, and creativity and creative thinking are ranked as the top skills and capabilities for the next five years,” the report said.
Onboard IT department
Organizations can no longer afford to keep IT out of the loop when it comes to AI investments and plans: “While 81% of business decision makers have reasons for excluding IT decision makers from strategic discussions, both departments cite a stronger relationship as the second-most important area for improvement,” the Dell report states.
