The UAE has moved up 5 locations to be ranked as the highest Arab nation and the thirty seventh out of 166 nations within the newest UN know-how index that evaluates nations on their readiness to undertake superior applied sciences similar to synthetic intelligence with a give attention to inexperienced innovation.

The UAE, the Arab world’s second-largest economic system, was ranked within the “high” rating group, having beforehand been ranked within the “upper middle” group in 2021, the Ministry of Industry and Advanced Technology mentioned on Tuesday.

The Frontier Technologies Readiness Index 2023, launched by the UN Conference on Trade and Development, ranks nations based mostly on the deployment of data and communications know-how, expertise, analysis and improvement exercise, trade exercise and entry to finance.

“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,” mentioned Sarah Al Amiri, Minister of State for Public Education and Advanced Technology.

“As a global hub for innovation and talent, we are pioneering cutting-edge technologies that not only support sustainable industrial development, but also contribute to decarbonising other economic sectors.”

Spending on digital technology — together with IT, telecoms and rising tech similar to AI, Internet of Things, blockchain and robotics — within the UAE over the subsequent three years is projected to achieve $20 billion, based on the Boston Consulting Group.

The UAE is nicely positioned to double the contribution of its digital economy to gross home product to 19.4 per cent from 9.7 per cent throughout the subsequent 10 years, the report mentioned.

The UAE’s digital economy is expected to grow to more than $140 billion in 2031, up from almost $38 billion at current, based on a report by the Dubai Chamber of Digital Economy.

The UN report is a “testament not only to the ministry’s national industrial strategy, but also to the country’s Net Zero strategic initiative and role as a hub for fostering climate technologies”, Ms Al Amiri mentioned.

The 17 frontier applied sciences lined within the report similar to AI, web of issues and inexperienced hydrogen presently symbolize a $1.5 trillion market, which may develop to over $9.5 trillion by 2030 — about 3 times the present dimension of the Indian economic system, Unctad mentioned.

“But so far, developed economies are seizing most of the opportunities, leaving developing economies further behind,” it mentioned.

The US, Sweden, Singapore, Switzerland, and the Netherlands are the high-income economies which can be most ready.

China, the most-ready growing nation, is ranked thirty fifth, adopted by Brazil at 40, India at 46, and South Africa at 56.

China’s lower-than-expected position is especially as a result of urban-rural disparities in web protection and broadband velocity, the report mentioned.

India, the world’s fifth largest economic system, was the “greatest” over-performer, with the Philippines and Vietnam additionally among the many largest gainers.

India performs nicely in R&D and ICT as a result of abundance of extremely expert and certified human sources obtainable at a decrease price, Unctad mentioned.

The Philippines and Vietnam have a excessive trade rating, because of vital international direct funding in high-tech manufacturing, notably electronics, it added.

However, Latin American, Caribbean, and sub-Saharan African nations are liable to lacking out on present technological alternatives as a result of their low readiness to undertake and adapt frontier applied sciences, the report mentioned.

“Green innovation opportunities are time-bound and can only be seized through changes in policy, without which the windows may close,” it mentioned.

“Countries that have taken advantage of the opportunities, such as Brazil and China, have done so through strong responses that include government policies.”

Developed nations’ inexperienced tech exports surged to $156 billion in 2021 from $60 billion in 2018, based on the report.

Meanwhile, growing nations’ exports rose to $75 billion from $57 billion throughout the identical interval.

Updated: May 03, 2023, 2:23 PM