Adding another significant sign in the utilization of artificial intelligence, the country of the United Arab Emirates has infused technology to our daily life by blending it with the kitchen to reduce food wastage. The region has been continuously implementing and innovating new platforms to manifest the optimum utilization of artificial intelligence. At the same time, it is paving out numerous ways for the business owners located globally to come forward and invest in the AI domain. Many regulations have been framed out to ease the business set up process in Dubai. If you are a tech-geek and is holding your business idea to implement, then Dubai is the ground you should watch out for.
AI Industry in the UAE
At a global front, the AI industry is expected to hold a value of $118.6 billion by the year 2025. Understanding the gravity, the United Arab Emirates have been continuously implementing the AI in all possible corners of the business industries. Ranging from the Arabic AI News anchor to AI Retail Robot-Tally, the nation has been progressing every move. The region has left a drastic impact on it’s AI moves, and is further working towards the implementation in the following areas:
- Manufacturing and Resources
- Financial Services
- Professional Services
- ICT and Media
- Infrastructure and Transport
Vision-The Artificial Intelligent Food Saver
The ground of the United Arab Emirates has leveraged the scope and implementation of AI by innovating AI-enabled product “Vision”. Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Oman bin Sultan Al Olama, Minister of Artificial Intelligence, has hosted an event into the club together with the private and government entities to focus on the reduction of food wastage. According to the reports, the new product allows the kitchen to track the food wastage automatically. The core aim is to reduce the food wastage, and the government has projected to save two million meals in 2019 and three million meals by 2020. For the future, the entities have got a global vision to target the cut of food wastage by 50% by the year 2030. The hospitality industry will be benefitted to it’s best as it will be in a position to improve the scenario in the global competitiveness indexes.
The innovation of this strategy at this point turns out to be a smart move because the region is expected to rope in 25 million global visitors in its arena, backed by the World Expo 2020, which is expected to be a game-changer.
Expo 2020-The Upcoming Move of UAE
Starting from the month of Oct 2020, the United Arab Emirates is on its way to inaugurate the World Expo 2020 for a duration of 6 months. The event is looked like a business collaboration platform that will include millions of entrepreneurs, business investors, and professionals under a single roof. Overall, the event is projected to yield $24.2 billion in revenue, with a count of approx. 277,000 new job opportunities. This move is looked like a game-changer option for the small and medium-sized industries as there exists a very high probability of mergers and acquisitions, business collaborations.
Thus, you can see that the UAE turns out to be a favorable business ground for the AI industry. Starting a business in UAE, dealing in the AI industry, turns out to be a smart and convenient option, and initiating the process at this point in time is the best as Dubai Expo is on the way. Millions of investors are setting up their business roots and converting their business dreams into reality in the ground of Dubai as it holds a space for every business industry. Now, you must be wondering, Why Dubai? Well, the answer to your query lies below.
Benefits of Starting a Company in UAE
Incorporation of a company in UAE turns out to be a feasible option because the region provides the following benefits:
- Complete exemption of income tax
- Full repatriation of capital invested and profits earned
- No currency restrictions
- Easy availability of business licenses
- The flexibility of global hiring
- Availability of different business zones like Mainland, Free Zone, and Offshore
- An international gateway to enhance business goodwill
In short, we can say that the AI is one of the lucrative business segments that you can think of to start with. Investing in the ground of AI will fetch in more profits in the future as the region has got a broader scope in terms of AI business establishment. Now, when it comes to the incorporation phase, you need to understand that the process would involve multiple legal documentation steps and abiding the same is the responsibility of a business entity. Following this, most of the business investors plan to go ahead with business experts who can guide them at every step and conduct the process in a hassle-free way.
Commitbiz Consultants stands as one of the top business consultants in Dubai who has been focusing on providing the complete company set up proceedings to the esteemed clients. Our business experts are well-versed with the business establishment process in Dubai and can offer you tailored solutions accordingly. If you hold any doubt or query, feel free to speak to our experts. Contact us today-we’d be glad to assist.