Economic Growth

In a fast-paced world driven by technological advances, the global landscape is being reshaped by the rapid rise of Artificial Intelligence (AI), a technology that is playing a vital role in bringing in major economic shifts, unleashing a new era of GDP growth. One of the most active regions concerning AI integration is the Middle East, a region not only observing or keeping up, rather revolutionizing this integration as governments across the region harness the power of AI to reshape their policies, implement national strategies, attract smarter investments while powerfully reconstructing their futures. Such adaptation has already borne fruit, as different economies in the region became more agile and dynamic, systems evolved to operate more efficiently and smarter, resulting in providing better services to their respective populations.   Despite the rapid progress and fast growth of AI in the Middle East, the region still faces a set of challenges, including the lack of properly trained individuals and the constant need of innovative solutions and new ways to narrow this gap. On the other hand, the region lacks legislative framework to regulate the use of AI in a fair and ethical manner. While a growing need for sustainable infrastructure development underlines the fact that more work is still required, overcoming these obstacles and challenges will lead to unlock the region’s full potential, overcome competition and become a major player in the AI world globally.

The current state of the world economy can be linked in large part to global uncertainties, the escalating crisis in Ukraine, the volatility of commodity prices, tight monetary policy, and other factors. Nevertheless, the World Bank said in its most recent analysis on India's development that the country displayed more resilience to global shocks and better than anticipated quarterly growth figures. In recent years, India's economy has become one of the world’s most dynamic and fastest-growing, and it is now largely regarded as an emerging economic power. India's large and rising workforce, its massive domestic market, and a number of economic reforms and laws meant to encourage it are just a few of the factors that have contributed to the country’s economic success. India is now the fifth-largest economy in the world. India’s emergence requires the assessment of the factors and the signs that India is growing to be a significant global power and its implications.