News

Workplace Study Reveals Middle Eastern AI Use Is Skyrocketing

The recent findings reveal that 56% of Middle East tech professionals are using AI — a figure higher than anywhere in Europe.

Published

3 weeks ago

August 21, 2024

Nour Nasir

workplace study reveals middle eastern ai use is skyrocketing

Workforce solutions and recruitment specialists Hays have published a wide-ranging study of 5014 tech professionals and 6178 employers spanning 20 countries.

The company’s Tech Talent Explorer report contains plenty of interesting data, but perhaps the most significant findings concern the growing use of AI. The study reveals that the Middle Eastern tech space is far more progressive than its European counterpart, with greater numbers of tech professionals in the MENA and GCC countries using AI than those in Europe. In addition, more Middle Eastern organizations offer AI support and training than almost anywhere else covered in the research.

Commenting on the study’s findings, Oliver Kowalski, Regional Managing Director of Hays Middle East, said:

“Of course, AI has its risks, but it is here to stay and those that embrace it will reap its rewards. This new data brings to light a competitive advantage for companies in the Middle East looking to hire developers, data and infrastructure professionals, cyber security talent, and other tech specialists. It shows these people’s thirst for AI training, for working on innovative projects with the latest iterations of technologies”.

Key Statistics:

56% of Middle Eastern tech professionals use AI tools. In Italy, the figure is just 28%, while France only manages 29%.
68% of GCC tech professionals associate AI with increased efficiency and productivity, with 50% already using AI tools to aid communication.
66% of all software developers use AI to generate or debug code.
82% of all the tech professionals surveyed desire more AI training, with the Netherlands and Spain topping the poll at 92% and 89%, respectively.
Only 30% of all employers surveyed currently recommend using AI.
Only 24% of GCC tech professionals have received AI training or support, but that figure is still higher than in all European countries (apart from The Netherlands, at 27%).

Also Read: The Most AI-Proof Career Opportunities In The Middle East

The study is freely available as an interactive report — The Tech Talent Explorer — which also compares salaries and “talent attraction factors” for tech professionals across both Europe and the Middle East.

News

Paymob Extends Series B Funding To $72M Amid Continued Growth

The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.

Published

22 hours ago

September 12, 2024

Nour Nasir

paymob extends series b funding to $72 million amid continued growth

Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.

The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.

This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.

Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.

Also Read: Zoho Expands Qatar Operations & Releases New Survey Data

The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.

Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.