THE ARAB MONETARY FUND ISSUES A STUDY WITHIN THE FRAMEWORK OF "A RESEARCH PROJECT ON THE ECONOMIC IMPLICATIONS OF THE FOURTH INDUSTRIAL REVOLUTION THAT DEALS WITH ARTIFICIAL INTELLIGENCE TECHNIQUES"

by **claud39** Mon Feb 15, 2021 7:55 pm

THE ARAB MONETARY FUND ISSUES A STUDY WITHIN THE FRAMEWORK OF "A RESEARCH PROJECT ON THE ECONOMIC IMPLICATIONS OF THE FOURTH INDUSTRIAL REVOLUTION THAT DEALS WITH ARTIFICIAL INTELLIGENCE TECHNIQUES"
2021-02-15

Economic gains are expected for adopting artificial intelligence technologies in terms of raising economic growth rates and supporting economic diversification efforts in Arab countries

The need to raise levels of efficiency of human capital, enhance investment in communications and information technology networks, and increase levels of availability and quality of data, among the challenges facing Arab countries' expansion in adopting artificial intelligence technologies

The United Arab Emirates leads the Arab countries eligible to benefit from artificial intelligence technologies based on supporting strategic visions, stimulating frameworks, and policies to support human capital and attract talent

Within the framework of the Arab Monetary Fund’s endeavor to prepare research contributions that are in line with the priorities of its member states and support policymakers, and in the context of the Arab Monetary Fund’s vision for the year 2040 and its strategy for the period (2020-2025), the Fund issued the first study as part of a research project on the economic implications of the Fourth Industrial Revolution that dealt with Artificial intelligence techniques. The study sheds light on the potential economic benefits of these technologies at the Arab and global levels, by addressing the impact of these technologies on the economic sectors and the expected gains from expanding their use at the level of GDP, productivity and competitiveness. In addition to the challenges associated with these transformations, especially at the level of labor markets, and increasing levels of inequality in the distribution of incomes, the digital divide, and the gender gap.

On the other hand, the study dealt with the economic repercussions of artificial intelligence at the level of Arab countries and indicated that some Arab countries were proactive in the transformation towards a knowledge economy in the context of strategies aimed at preparing for integration within the framework of the Fourth Industrial Revolution and benefiting from the technologies accompanying it, and setting up mechanisms to meet the challenges that It may result from it, especially in terms of employment, through the qualification of national workers to work in the knowledge production sectors.

At the level of the Arab countries, the UAE is highly qualified to benefit from artificial intelligence technologies in the coming decades based on a number of factors, on top of which is the presence of strategic visions in support of these technologies, legal, regulatory and institutional frameworks that stimulate them, policies to support human capital, and attract competencies to support the market Work in this area. There are also opportunities for a number of other Arab countries to benefit from these technologies, including Saudi Arabia, Qatar, Bahrain, Jordan and Egypt. While it is necessary for other countries to seek to intensify their efforts to achieve a tangible shift in a number of areas supporting artificial intelligence.

The study indicated that the adoption of artificial intelligence technologies can contribute to providing solutions to a number of economic and social challenges facing Arab countries, and is also considered an essential tributary to support economic diversification and encourage the growth of sectors that rely on technologies, which are a fundamental pillar that many countries rely on in the current era to increase Output and job creation for eligible young groups.

Despite the acceleration of the adoption of artificial intelligence applications at the level of the business community in the Arab countries, there are a set of challenges facing the expansion of the adoption of these applications, on top of which is the improvement of the levels of human capital, the availability and quality of data, the regulatory environment, and the high cost of adopting such applications. Techniques.

To meet the challenges associated with upgrading human capital, educational institutions in some Arab countries have moved towards opening specialized colleges in the field of artificial intelligence and forging alliances and partnerships with technology companies to support human capital in this field and rehabilitate workers. On the other hand, some Arab countries were proactive in attracting and attracting competencies specialized in the field of artificial intelligence through attractive programs for long-term residency in these countries. Based on what the study covered, some policy recommendations were made, including:

Intensifying efforts to adopt strategies that support artificial intelligence in areas of priority for Arab countries, by focusing on applications that support economic diversification and increase levels of productivity and competitiveness to support economic growth and achieve sustainable development goals .
Supporting the technical infrastructure by working to develop and increase levels of efficiency of communication networks, and more investments in the field of information technology, and to overcome all the challenges facing individuals and companies' access to these technologies at the national level .
Leading governments to shift towards adopting artificial intelligence technologies by expanding the use of these technologies in providing government services, in a way that helps increase the levels of efficiency of these services, reduce their costs, and enhance the demand for the use of such applications at the local level.
Focusing on adopting legal, regulatory and institutional frameworks aimed at encouraging applications of artificial intelligence, and ensuring an attractive environment for companies operating in this field that contributes to overcoming the challenges facing Arab countries in this regard.
Ensuring the governance of artificial intelligence through the existence of local frameworks for the responsible use of these technologies in line with the relevant international principles, the most important of which are the principles issued by the Organization for Economic Cooperation and Development and the Group of Twenty.
Investing in human capital by directing current education systems towards focusing on the formation of new, specialized and elite generations in the fields of science, technology, engineering and mathematics on which artificial intelligence techniques are based, from kindergarten to university and post-university education.
Exerting more efforts to increase the levels of availability and quality of data to help the development of artificial intelligence technologies in accordance with national frameworks that ensure privacy, security and data protection.

The full version of the study is available through this link

https://www.amf.org.ae/ar/study/research-project-economic-repercussions-fourth-industrial-revolution

https://www.amf.org.ae/ar/content/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D8%B5%D8%AF%D8%B1-%D8%AF%D8%B1%D8%A7%D8%B3%D8%A9-%D9%81%D9%8A-%D8%A5%D8%B7%D8%A7%D8%B1-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A8%D8%AD%D8%AB%D9%8A-%D8%B9%D9%86-%D8%A7%D9%84%D8%A7%D9%86%D8%B9%D9%83%D8%A7%D8%B3%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D8%AB%D9%88%D8%B1%D8%A9-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9