Page 73 - MBRF ENGLISH PR REPORT - November 2024

News Report

Artificial intelligence: Future engine for sustainable

economic growth globally

Dubai, UAE- 11November 2024 - Today, the world is undergoing a radical transformation
driven by the rapid advancement of artificial intelligence (AI) technologies. These technologies
are permeating various economic sectors and playing a pivotal role in accelerating sustainable

development. By boosting productivity, improving operational efficiency, and fostering

innovative solutions, AI is helping address pressing environmental and social challenges.
Furthermore, AI is driving innovation in critical areas such as renewable energy, sustainable

agriculture, healthcare, and education, paving the way for a more prosperous and sustainable
future.

Recognizing the immense potential and benefits of artificial intelligence, the Mohammed bin
Rashid Al Maktoum Knowledge Foundation (MBRF) has taken proactive steps to harness the
power of this cutting-edge technology. By integrating AI into its initiatives, MBRF aims to be

a catalyst for innovation and sustainable development. MBRF and the United Nations

Development Programme (UNDP), MBRF’s strategic partner, leverage their flagship events,
such as the Knowledge Summit, the Global Knowledge Index (GKI), FutureSkills4All, and the

Future of Knowledge Foresight Reports, to drive this transformation.

Artificial Intelligence as an Engine for Sustainable Economic Growth

Since the dawn of the new millennium, the world has experienced a digital boom and rapid

changes. Numerous studies and reports analyze the various facets and trajectories of this
enormous digital development, of which AI is the most significant component. A recent report

by the Dubai Multi Commodities Center forecasts that AI could contribute up to USD 15
trillion to the global economy by 2030. This significant increase is attributed to AI’s potential

to boost productivity, reduce costs, and accelerate innovation across industries.

AI has emerged as a powerful tool with the potential to revolutionize various sectors and

contribute to sustainable development. Governments, organizations, and countries worldwide
recognize AI’s ability to reduce environmental pollution, optimize resource utilization, and drive

innovation in critical areas like education, healthcare, and transportation. For instance,