14/06/2024
High-growth firms in UAE see GENAI revamp industries
Generative AI (GENAI) and AI will significantly transform industries in the future, recent research suggests.
Dell Technologies Innovation Catalyst Research signals that while there is broad optimism for AI and GENAI, the extent to which organisations are prepared for the rapid pace of change varies greatly. An overwhelming majority (90 per cent) in the UAE say they are well-positioned competitively and have a solid strategy. At the same time, half (51 per cent) of the respondents are uncertain what their industry will look like in the next three to five years and nearly eight in 10 (75 per cent) report struggling to keep pace. They cite the lack of the right talent (31 per cent), data privacy and cybersecurity concerns (27 per cent) and lack of budget (31 per cent) as challenges they face in driving innovation.
Respondents cite Genai’s transformative or significant potential to deliver value in improving IT security posture ( 62 per cent), productivity gains (60 per cent), and to improve customer experience (61 per cent). They are also aware of challenges to overcome. Seventy-five per cent fear GENAI will introduce new security and privacy issues and 89 per cent agreed that their data and IP is too valuable to be placed in a GENAI tool where a third party may have access.