https://adgully.me/post/1915/ajman-chamber-holds-seminar-on-ai-and-its-impact-on-economy

Ajman Chamber holds seminar on AI and Its Impact on economy

Ajman: H.E. Abdullah Al Muwaiji, Chairman of the Ajman Chamber of Commerce and Industry (ACCI), confirmed that the interest of the UAE in employing Artificial Intelligence (AI) and accelerating the pace of benefiting from its technologies will be directly reflected in the growth of the economy, the volume of trade, and the enhancement of investment attractiveness by increasing productivity through faster and more accurate data analysis, and saving time and effort in accomplishing tasks in addition to developing government services in general and improving the quality of life.He said that during a seminar entitled "AI and Its Impact on the Economy", in the presence of H.E. Dr. Amna Khalifa Al Ali, Board member of the Ajman Chamber and Chairwoman of the Ajman Business Women Council (AJBWC), H.E. Salem Al Suwaidi, Director-General of the ACCI, the Ajman Chamber's employees.At the beginning of the seminar, Abdullah Al Muwaji welcomed the attendees, explaining that the seminar aims at enhancing awareness among the Ajman Chamber's employees of the importance of technology and its applications in the economic, commercial, and investment fields, in preparation for enhancing their knowledge about benefiting from AI techniques and providing proactive value-added services that serve the business society in Ajman.The Seminar dealt with the AI nature as it is "a revolution in computer science and technology, and it can be used in many fields to improve human life and develop societies," pointing to the diversity of its uses and utilization in various fields, including "industry, e-commerce, banking and insurance services, transportation, logistics services, and other fields.”The Seminar reviewed advanced AI technologies and their contribution to attracting direct investments by analyzing economic and trade data and predicting future trends for economies, as well as improving industrial processes and increasing productivity, in addition to integrating innovation, research, and development and benefiting from them in the economic sector in general, which increases the attractiveness of countries using these technologies as an ideal destination for investment.The attendees were briefed on the AI impact of artificial intelligence on the Industrial Revolution 4.0 (4IR) as the driving force and key driver for future industries, and on the diversity of its uses in growing industrial production, controlling automated processes, reducing costs, and improving quality.The Seminar also discussed the risks of using AI technologies, including increasing unemployment rates, increasing gaps between countries, and security and privacy by collecting and using the data of individuals and institutions.The Seminar recommended the need to take the necessary measures to achieve a balanced and orderly use of AI in a manner that preserves economic, social, and environmental interests, and protects individual and moral rights.