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Saudi Arabia And UAE Are At The Forefront Of An AI Revolution

The AI market in the MENA region is expected to grow at a rate of 47.8% per year.

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saudi arabia and uae are at the forefront of an ai revolution

According to the latest reports from Research and Markets, the MENA region is making significant gains in artificial intelligence, with the AI market set to grow from $500 million in 2020 to $8.4 billion by 2026.

The UAE, in particular, shows great promise as a leader in the field of AI, with a projected growth figure of 36.2% bolstered by the government’s National Artificial Intelligence Strategy 2031, which focuses on attracting talent, funding research & innovation hubs, and developing infrastructure and data ecosystems.

Also Read: ChatGPT Is Accelerating The AI Revolution In The Middle East

With its considerable Public Investment Fund, Saudi Arabia has also announced a $500 billion funding package for AI and other technologies over the next decade, launching initiatives including the Saudi Arabian Data and Artificial Intelligence Authority and the National Data Management Office.

A recent study by global consultancy firm Proviti Middle East showed that over 80% of CEOs in the region believe that AI will be critical to future business success, with over 70% of companies already investing in the technology.

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NEOM Announces Breathtaking Luxury Waterfront Development

The residential community will offer a wealth of living, dining, and entertainment options, along with a stunning marina and international school.

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neom announces breathtaking luxury waterfront development
NEOM

The board of Saudi Arabia’s special economic zone, NEOM, has revealed plans for a new development named Jaumur. The project will see the creation of a “cosmopolitan luxury community” nestled on the coast of the Gulf of Aqaba.

According to a recent press release, the luxury residential community will “serve the highest standards of future livability and active lifestyle [offering] a unique blend of experiences on both land and sea, complementing NEOM’s evolving regional development in northwest Saudi Arabia”.

Jaumur will include 500 apartments and 700 luxury villas clustered around a marina that will become home to 6,000 lucky residents. The location will offer private moorings and easy waterfront access, along with a selection of upscale hotels with a combined capacity of 350 suites.

neom jaumur project

The marina itself is a dramatic focal point of the development, featuring a colossal 1.5km covered mooring area in the shape of an aerofoil. The cantilevered structure not only forms a breathtaking landmark but will also be able to shelter the world’s largest superyachts.

The marina promenade promises to be a lively, vibrant area featuring a host of entertainment, leisure, and cultural experiences, along with upscale retail stores and world-class restaurants.

Also Read: Dubai Gives Go Ahead For $35 Billion Al Maktoum Airport Expansion

Although Jaumur is very much a place for sophisticated living and relaxation, the development will also incorporate a “state-of-the-art deep-sea research center and top-tier international boarding school”. Planners hope to attract world-leading oceanographic researchers as well as elite students to this unique location.

We’ll leave the final words about this exciting development to NEOM’s press department: “Jaumur’s unique architectural design integrates water where golden sands meet the deep blue of the Gulf of Aqaba. It is a luxury destination to visit, explore, live, and prosper: an opportunity to become part of a dynamic community”.

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