The United Arab Emirates (UAE) has proven its worth once again by moving up five spots to become the top Arab country in the United Nations Frontier Technology Readiness Index 2023. The UAE now ranks 37th among 166 countries evaluated for their readiness to adopt advanced technologies, with a strong emphasis on green innovation. This impressive feat has put the UAE on the global map as a leader in technological advancements, showcasing the country’s determination to stay at the forefront of innovation.
The Ministry of Industry and Advanced Technology announced this remarkable achievement on Tuesday, stating that the UAE had advanced from the upper-middle category in 2021 to the high scoring group. The UAE’s second largest economy in the Arab world has always been a popular tourist and business destination, and it continues to build on its strengths by embracing modern technologies.
The Frontier Technologies Readiness Index 2023, published by the United Nations Conference on Trade and Development, evaluates countries based on their information and communications technology deployment, expertise, research and development activity, industrial activity, and access to financial resources. The UAE’s strong performance in all of these areas has led to its rise in the global rankings.
Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, expressed her delight in the UAE’s technology readiness ranking, saying, “This report reflects the UAE’s position as a leader in developing and deploying new transformative technologies to boost efficiency, reduce emissions, and accelerate the energy transition.” She emphasized the UAE’s commitment to green innovation and its efforts to reduce its carbon footprint, making it a model for other countries to follow.
According to the Boston Consulting Group’s research, the UAE is expected to spend a whopping $20 billion on digital technology, including IT, telecoms, artificial intelligence (AI), the Internet of Things (IoT), blockchain, and robots, over the next three years. This investment is a testament to the country’s determination to accelerate its digital transformation and capitalize on the benefits of emerging technologies.
The UAE’s digital economy is also projected to increase to over $140 billion by 2031, up from approximately $38 billion presently, according to a report from the Dubai Chamber of Digital Economy. This increase would represent a massive boost to the country’s gross domestic product, contributing to the UAE’s goal of becoming a leading player in the global digital economy.
The UN Conference on Trade and Development’s report highlights the tremendous potential for emerging technologies, which is presently valued at $1.5 trillion, to grow to over $9.5 trillion by 2030. This growth could be a game changer for developing economies, which are currently lagging behind their developed counterparts in seizing the opportunities presented by advanced technologies.
Developed economies such as the United States, Sweden, Singapore, Switzerland, and the Netherlands are currently the most prepared to take advantage of these opportunities. However, the UAE’s rise in the rankings demonstrates its strong commitment to staying ahead of the curve and emerging as a global leader in technological advancements.
