News

UAE Digital Technology Spending To Hit $20 Billion By 2026

The contribution of digital tech to the country’s GDP is likely to double within the next decade.

Published

2 years ago

March 28, 2023

uae digital technology spending to hit $20 billion by 2026

Digital technology spending in the United Arab Emirates (UAE) — encompassing IT, telecoms, artificial intelligence, blockchain, and robotics — is expected to reach $20 billion over the next three years, according to a recent report by the Boston Consulting Group.

Digital tech is projected to account for 25-30% of global GDP over the next decade. According to BCG, the UAE is expected to double the contribution made by digital to its overall economic output, rising from 9.7% to 19.4% in the next 10 years.

Advances in robotics, automation, and a “historic explosion of data and intelligence” offer significant opportunities for wealth disruption and creation, but may present a steep learning curve for governments.

“The digital economy is not an elective. It marks a profound departure from how economies have historically been organized and regulated. Tackling this brave new world head-on will prove essential to remaining competitive and relevant on the global scene,” says Faisal Hamady, managing director and partner at BCG.

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

Dubai, which seeks to bolster its position as a global digital capital, recently launched the ambitious and far-reaching Dubai Economic Agenda (D33) plan.

The increase in digital technology spending aims to reinvent the Emirate as one of the world’s strongest city economies over the next decade, via a bold program that will support 30 private companies to achieve $1 billion unicorn status.

News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

18 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.