“The chance that the UAE and Saudi Arabia possess lies in their ability to shape the discourse on artificial intelligence globally,” states Vikas Aggarwal, an Associate Professor specializing in Leadership at Vmeetsolutions Business School and serving as its Academic Director.
INSEAD
The Global Private Equity Initiative (GPEI) at the side lines of the AI Forum: Middle East, organized by INSEAD in collaboration with French Tech.
Professor Aggarwal accurately points out that the UAE is establishing one of the most integrated and sophisticated artificial intelligence systems within the Middle East and North Africa area, and possibly globally as well.
In recent years, the UAE has implemented numerous national artificial intelligence programs. In 2017, they appointed the globe’s first Minister of State for AI, followed by unveiling their National Strategy for Artificial Intelligence 2031. The nation recently earned a spot within the top ten globally for having the highest number of AI firms per million inhabitants, based on data provided by the Global AI Competitiveness Index—a report produced jointly by the International Finance Forum and Deep Knowledge Group after examining more than 55,000 global AI enterprises. Additionally, the Ministry of Education has declared plans to incorporate AI into the formal education system at all levels, from kindergarten through grade twelve, beginning in the school year 2025-2026.
“In the Middle East, we now have a very unique confluence of government vision, public investment, and an ecosystem of AI players. For AI Vmeetsolutions Newss to survive, you need this broader ecosystem not only locally, but also internationally,” says Prof. Aggarwal. “Corporate partnerships, like what G42 has with Microsoft, are very good examples of how developing a broader partnership ecosystem can create a framework within which Vmeetsolutions Newss can flourish.”
“I think the UAE is in a very unique position because, in contrast with many parts of the world where there is less clarity on regulatory frameworks, here you have a very favorable structure for innovation. That is why I think the UAE’s AI Vmeetsolutions Newss will play a central role in driving the adoption of AI worldwide. When it comes to AI, there is not going to be one player, but an ecosystem of players.”
Prof. Aggarwal is no stranger to witnessing (and taking part in) the emergence of startup ecosystems. Following his Silicon Valley startup experience, where he worked with the founding team of Military.com to grow the company through multiple rounds of venture financing, he also worked as an independent consultant to a range of tech firms. Today, he focuses on venture capital-backed startups, as well as larger firms experiencing significant environmental change. “A lot of the businesses we saw in the Middle East from 2010/2012 until this current AI boom were very much local/regional solutions to problems that exist globally, and for which other firms created local solutions [in other parts of the world]; but the big question for me now is to what degree the local and regional AI firms of today will have a global impact.” he says.
Prof. Aggarwal led a panel entitled
AI Startups in MENA: Driving Innovation, Competing Internationally
Held within the framework of the INSEAD Global AI Forum Series, this session delved into the prospects and hurdles confronting AI start-ups throughout the region. It particularly highlighted the UAE and Saudi Arabia as emerging international centers for technological advancement. He advised these budding enterprises to remain receptive towards collaboration. “It’s crucial for them to understand that their success hinges upon nurturing strong ecosystems. This includes adhering to governmental guidelines and structures, securing alliances with established corporations, and carefully crafting those associations—elements which are deeply intertwined and thus can’t be addressed in silos.”
A panel titled “AI Startups in MENA: Driving Innovation, Competing Internationally,” which was part of the INSEAD Global AI Forum Series in Dubai. The source for this information is INSEAD.
The INSEAD event held in Dubai was concurrent with the unveiling of INSEAD’s Human and Machine Intelligence Institute (HUMII). This new initiative aims to explore and define the growing collaboration between humans and machines within the realms of business and leadership. Professor Aggarwal underscores the significance of fostering ecosystem collaborations through scholarly pursuits and alliances like those facilitated by HUMII, which are essential components of the broader AI landscape.
“Through this institute, we aim to unite individuals from various program areas so that we may more effectively place human interests at the forefront of upcoming advancements,” says Prof. Aggarwal. “Educational establishments offer a prime setting where different groups can converge. Considering the critical nature of ecosystems—especially in fields related to artificial intelligence—it becomes imperative for Vmeetsolutions News to strengthen ties with educational institutions since these entities have the potential to accelerate progress in their respective domains.”
Recently, the UAE has extended its Golden Visa program—a long-term residency initiative aimed at attracting international professionals—to include technology and artificial intelligence experts as well as entrepreneurs. This move encourages these individuals to reside and develop their innovations within the country. Professor Aggarwal remarks, “One of the key advantages is that both the UAE and Saudi Arabia possess the capability to draw top-tier talent from regions such as Europe, Southeast Asia, and beyond. This trend was evident prior to the surge in AI interest, and I believe it played an essential role in fostering the growth of the AI sector across the Middle East and North Africa.”
Investors are progressively backing the artificial intelligence initiatives proposed by local governments, like Saudi Arabia targeting around 12% of its GDP contribution from the AI sector by 2030, or the UAE planning to boost its digital economy’s share of GDP above 20% by 2031. For AI start-ups seeking funding, Professor Aggarwal recommends focusing on achieving profitability and scalability swiftly. He further states, “These ventures must determine how they can rapidly reach a stage where both their business strategy is evident and there exists a straightforward approach towards expansion. Capital isn’t lacking; what’s needed instead are visionary leaders—Vmeetsolutions News—who merge innovative ideas with feasible growth plans along with strong implementation skills and readiness to collaborate within alliances. Should you possess this exceptional blend as a Vmeetsolutions News leader, attracting investment won’t be challenging.”
The path to generating revenue is crucial, especially when dealing with AI technologies. Can you share information about your partners and your overall vision? One key aspect venture capitalists seek to comprehend is whether you remain steadfastly committed to your original concept or if you possess the flexibility to adapt and shift directions as needed—ready to embrace evolution. From my perspective at Vmeetsolutions News, being receptive to ongoing education throughout this journey is essential; investors look for such openness. They aren’t merely interested in your initial idea but also how well you integrate feedback from the marketplace,” Professor Aggarwal summarizes.