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Do you have an AI-based business idea you’re keen to launch? If yes, there might not be a better time than now for it.
In the UAE, the time is ripe for AI-driven business ideas. AI has now carved out its own market, one that is projected to reach approximately US $ 950 M in 2024 itself. That is a record-breaking number if there was one, and also a solid proof of the market potential for AI.
In this blog, we bring to you the many different aspects you can establish AI-driven business ideas for the perfect fruition into a success story. Read on to know more.
AI-driven business ideas are currently at the helm of profitable business, as well as for providing AI-tailored solutions to certain problems and issues. This makes AI the perfect idea to invest on- because it serves two purposes simultaneously.
The future is only how far we think it is, however, the UAE prides itself on being a step ahead. And that is why, the UAE is a perfect economic hub to establish businesses based on AI-solutions and AI-based services.
The current times are seeing perhaps some of the most rapid advances in technology in the modern world. This is the perfect time to leverage AI-driven business ideas to bloom into their most potent form to drive profits, as well as disrupt the market.
In 2024, the UAE has approximately 600 AI-based startups. This is a clear indication that the market for AI-based solutions is booming, and if you wish for a part of it, you may need to come up with extraordinary ideas.
There are a few things that make the UAE market a perfect haven to establish AI-driven business ideas. Some of these are:
The UAE government has a diverse range of support systems for new startups and for entrepreneurs. The National AI strategy in particular will be a factor of intrigue for AI-driven business enthusiasts.
With a diaspora that contains people from almost all and every walk of life and career(s), finding talent for any AI-driven venture is no challenge. However, it is no cakewalk either. Ensure to have your requirements ready for your business, and network with the right group of people for finding the right employees.
The UAE is a hub of bustling economic prowess. Dubai in particular, can be called the queen of economic activity in the region. Overall, building a business might not be a problem; finding the perfect AI-driven business idea, however, might be it.
AI-driven businesses have an almost tangible market presence; and this is true not only in the Emirates, but worldwide. So, if you’re set on AI in particular to set up your business in, you’re at the right place!
Here are some of the business ideas with the highest potential in the UAE, as well as globally:
AI tools can predict healthcare data of a person to accurately predict disease prognosis. Developing devices that can monitor the vitals of individuals on the regular for this person would revolutionize the healthcare industry.
Financial decisions are always sensitive and time bound, and often, subject to market vulnerabilities. A startup based on developing AI tools that help individuals predict the market for the perfect investment is a great AI-driven business idea!
The future is already honking outside your door. Autonomous vehicles are perceived to be the thing of the future. Developing AI-tools that accurately understand GPS limitations and real-time traffic to suggest alternate routes can also be another potentially great business investment.
From banks, to shopping stores, it is quite efficient to leverage AI driven tools to help customers get the best experience, without having to flag down store assistants for explaining what they want.
Build a tool around this, and you might just revolutionize the service industry too!
From leveraging AI only in certain aspects of the business, to integrating AI in major operations, to building entire business models on AI-driven solutions, it has been a long journey.
However, investing or establishing a business in AI isn’t an easy job; and yet, if it is successful, you might just revolutionize the world, at least in certain aspects with your AI-based solutions!
Don’t know how to proceed with the legal map in the UAE, click here to know more
Let our professionals wade through the technicalities, while you focus on your profit margins. Starting a business in UAE might seem to be daunting and complex, especially if you are visiting the UAE for the first. Even though the business environment in UAE provides multi-faceted benefits, for an entrepreneur, he might require some assistance in sorting out the complexities and starting the procedures without any hindrances. For such head starts the experts at CDA can provide you with all the required assistance and services whereby simplifying your business set up process
