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AI regulation is a top concern for UAE businesses, says report

Majority of business leaders in the UAE are poised to boost their investments in advanced technology

AI regulation is a top concern for UAE businesses, says report
[Source photo: Pankaj Kirdatt/Fast Company Middle East]

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With the rapid adoption of Artificial Intelligence (AI), a wave of transformative innovation is sweeping through industries, fundamentally altering how businesses operate and strategize in this dynamic economic hub.

According to Alteryx research, 59% of UAE business leaders are poised to ramp up their investments in advanced technology. Already, an overwhelming 82% acknowledge AI’s tangible impact on their organizational capabilities, with 45% intending to funnel resources into AI and other advanced technologies to adapt to market shifts.

The research, Defining the Enterprise of the Future, showed a surge toward AI adoption, which is anticipated to permeate all sectors and business functions, with 49% of respondents foreseeing its pervasive influence. 

However, this surge raises critical ethical concerns centering around data privacy (47%), transparency (40%), and data governance (36%). 

This shift in focus has propelled the conversation about regulation to become a pivotal subject in business dialogue. About 87% of UAE business leaders advocate for sector-specific regulations and standards governing AI use. 

An overwhelming majority (93%) believe these policies would guide responsible AI implementation, with half (50%) expressing concerns about potential legal and ethical repercussions without a robust ethical AI framework.

AI’s transformative impact on future enterprise skill sets is reshaping hiring trends. Most businesses foresee an AI-driven future, focusing on AI Automation in data analysis (35%), AI and ML advancements (29%), and the abundance of diverse data (27%) to drive this change.

Consequently, there’s a shift in hiring priorities, moving away from specialized roles towards valuing versatile professionals capable of contributing across various domains. About 73% of UAE business leaders prioritize multi-skilled employees over those with singular expertise.

“Accessible, self-service analytics and automation technologies are the force multiplier that will empower the workforce to jump on the AI train confidently and companies to move forward on their generative AI journey safely,” said Karl Crowther, VP of MEA at Alteryx. 

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