The Investment Promotion Agency Qatar (Invest Qatar), in collaboration with Accenture, a leading global professional services company, has released a joint report titled ‘Data & AI: ​Redefining the Growth Frontier in Qatar.​’ The comprehensive report explores the transformative role of data and artificial intelligence (AI) in shaping Qatar’s economic future, positioning the country as a regional leader in digital transformation.

Launched on the sidelines of the inaugural edition of World Summit AI Qatar 2024, the report spotlights the surge of opportunities within industries that are revolutionising AI investments. From advancements in AI-driven automation to the growing reliance on data for decision-making and predictive analytics, the report highlights how nations worldwide are harnessing data and AI to fuel innovation. It also offers an in-depth analysis of how Qatar, in particular, is well positioned to capitalise on the vast potential of this digital revolution.

Identifying key market opportunities within the global data and AI sectors, the report reveals rapid advancements in industries such as healthcare, finance, energy and manufacturing. A key finding from the report indicates that AI is set to contribute $19.9 trillion to the global economy and drive 3.5% of global GDP by 2030. With 98% of business leaders prioritising AI investments, funding in this area is surging, highlighting the immense value businesses are placing on AI-driven innovation.

In Qatar, significant investments in technology infrastructure, government-led initiatives to foster innovation and growing collaboration between the private sector, academia and government entities are driving the growth of a robust data and AI ecosystem. The report highlights Qatar's competitive advantages, including a skilled workforce, access to capital and a strong appetite for disruptive technologies, making it an ideal destination for data and AI investments.

Sheikh Ali Alwaleed Al-Thani, CEO, Invest Qatar, said: “We are at a crucial juncture where data and AI are not just transforming industries but also redefining economic frontiers. With Qatar’s focus on fostering a knowledge-based economy, this report serves as a strategic guide for unlocking the vast potential of data and AI, both within Qatar and globally.”

Mejdi ElKhater, Accenture’s Country Managing Director in Qatar, said: “With Qatar’s firm commitment to its National Digital Agenda 2030, we are witnessing a transformative phase where AI is being strategically embedded across all sectors. By prioritising substantial technological investments and nurturing a highly skilled workforce, Qatar is ensuring AI's responsible and sustainable integration into its economy. This report provides a detailed and insightful perspective on AI's immense potential and future prospects within the nation.”

Earlier this year, Qatar unveiled its Digital Agenda 2030, marking a significant stride in the country’s comprehensive digital transformation journey. The agenda provides a clear roadmap, outlining a comprehensive framework, trajectory and specific goals. Qatar aims to create 26,000 jobs by 2030 and rank among the top 10 nations on the Digital Competitiveness Index. To achieve this, the country has committed $2.5 billion in incentives to drive advancements in AI, technology and innovation, solidifying its position as a leader in the digital economy.

The full report is available on the Invest Qatar website: Data-&-AI-Redefining-The-Growth-Frontier-in-Qatar-Report.pdf (invest.qa)