The Banking Executive Magazine - February 2025 Issue

the BANKING EXECUTIVE 46 ISSUE 193 JANUARY 2025 FinTech and AI Chornicle The UAE's Artificial Intelligence mar- ket is set to grow from $3.47 billion last year to a staggering $46.3 billion by 2030, with the sector forecasted to contribute 14% to the country's GDP by 2030, equating to approxi- mately $100 billion. The UAE Strategy for Artificial Intel- ligence, government-led initiatives like The Artificial Intelligence and Advanced Technology Council (AIATC), strategic frameworks such as The National Program for Artificial Intelligence, and private sector in- vestments spearheaded by the likes of the country’s G423 and MGX4, are making AI one of the most ap- pealing investment spaces in the UAE’s economy. According to Bas Kooijman, CEO and Asset Manager of DHF Capital, many of the high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals are looking to technol- ogy-driven investments to grow their wealth. This is a welcome sign amidst the country’s AI outlook, especially after the UAE welcomed 6,700 million- aire migrants into its borders in 2024. An additional projected inflow of 8,200 millionaires is expected in the UAE in 2025, more than any other country in the world. Moreover, 72% of asset and wealth managers are expecting AI and tech to reshape investment strategies7, re- inforcing the notion that the land- scape is shifting fast with HNW and UHNW investors boasting invest- ment power to spearhead this trajec- tory, he stated. The integration of AI in finance ac- UAE'S AI MARKET SET TO HIT $46BLN BY 2030, SAYS REPORT