Abdul Latif Jameel held a recent workshop on AI with guest from Microsoft, Gartner and other industry experts. The event was intended to further develop the understanding of AI based technologies from a business perspective, how can they help reduce cost, increase revenue, assist in developing new services, what are the industry trends regarding AI both globally and within the region.

The total global revenue for AI software is expected to grow from US$9.5 billion in 2019 to as much as US$ 118.6 billion in 2025. By increasing productivity by 40%, AI technologies could deliver as much as US$ 2.9 trillion in business value and recover a staggering 6.2 billion hours of worker productivity by 2021.

Nearly 50% of all companies are expecting their full-time workforce to shrink by 2022 due to automation, but 40% are expecting to extend their workforce and more than 25% are expecting automation to create new roles in the enterprise, and 27% of executives plan to incorporate AI Into their Cybersecurity Strategy.

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