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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.

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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.

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Adobe Teases New AI Editing Tools And Updates In Premiere Pro

The video editing app will be enhanced with a generative extend tool, text-to-video, improved timeline waveforms, and more.

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adobe teases new ai editing tools and updates in premiere pro
Adobe

After launching the generative AI model Firefly last year, Adobe is now showcasing how the technology will be used in upcoming versions of the editing app Premiere Pro. In an early sneak peek, the company demonstrated several new features, including Object Addition and Removal, Generative Extend, and Text to Video.

The first new feature, Generative Extend, targets a common video editing problem by using AI to “Seamlessly add frames to make clips longer, so it’s easier to perfectly time edits and add smooth transitions”.

Meanwhile, Premiere Pro’s Object Addition & Removal tool will leverage Firefly’s generative AI to “Simply select and track objects, then replace them. Remove unwanted items, change an actor’s wardrobe or quickly add set dressings such as a painting or photorealistic flowers on a desk,” Adobe states.

Adobe also showcased another new feature that can automatically generate new film clips using a text prompt. To use the content creation tool, editors can “Simply type text into a prompt or upload reference images. These clips can be used to ideate and create storyboards, or to create B-roll for augmenting live action footage,” Adobe explained. The company seems to be commercializing this particular feature extremely quickly, considering generative AI video only appeared a few months ago.

Also Read: UGREEN Unveils Nexode RG 65W Charger For Middle East

The new additions to Premiere Pro will be added later this year, but Adobe is also introducing smaller improvements to the editing app in May. The changes include interactive fade handles to enable easier transitions, an Essential Sound badge that uses AI to “automatically tag audio clips as dialogue, music, sound effects or ambience, and add a new icon so editors get one-click, instant access to the right controls for the job”, along with effect badges and a new look for waveforms in the timeline.

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