The President of the United Arab Emirates (UAE),Sheikh Mohammed bin Zayed Al Nahyan’s visit to the United States heralds a significant era in the strategic partnership between the UAE and the US, focusing on key advancements in artificial intelligence (AI) and economic development.
As noted by Roland Abi Najm, an expert in cybersecurity and digital transformation, this visit is poised to yield mutual benefits for both nations, particularly in propelling AI advancements and mitigating associated risks.
The overarching goal of the visit is to catalyze economic growth, elevate healthcare and education standards, and seamlessly integrate AI advancements, with the UAE aiming to position itself as a global hub for AI in the near future.
During his interview with CNN Business, Abi Najm highlighted that AI is anticipated to contribute up to 14% to the UAE’s GDP, potentially creating thousands of job opportunities in the Gulf nation. The bilateral coordination between the two nations encompasses various frameworks including developmental, political, security, economic, commercial, and military aspects, strengthened further by the economic and security partnerships formed under the 2019 Abraham Accords.
The military framework, as Abi Najm noted, is particularly crucial as AI becomes an integral part of global military conflicts, capable of altering the balance of power. Discussions between the presidents will likely focus on data security and the establishment of local data centers to maintain digital sovereignty.
“The United States has every reason to cooperate with the UAE, given its significant economic and political clout on the global stage,” Abi Najm added.
In 2023, non-oil foreign trade between the UAE and the U.S., excluding services, amounted to approximately $39.5 billion, a substantial increase from $23.8 billion in 2022, as reported by the Emirates News Agency. UAE imports from the U.S. rose to $25.9 billion in 2023 from $21.3 billion in 2022, while UAE exports to the U.S. increased from $3.2 billion in 2022 to $3.9 billion in 2023. Re-exports from the UAE to the U.S. also grew, reaching $9.6 billion in 2023, up from $8.2 billion the previous year.
Investments have been robust, with the UAE investing approximately $3.7 billion in the U.S. between 2018 and 2023, and U.S. investments in the UAE totaling about $9.5 billion over the same period. Key sectors for UAE investments in the U.S. include renewable energy, telecommunications, energy, real estate, software services, and information technology.
This year has also seen significant partnership and investment agreements between the two nations in technology and AI, notably collaborations between UAE’s G42 and American giants Microsoft and NVIDIA.
