and Remote Work Applications in his introduction to that guide .
A recent report from Strategy & ( part of PwC ) says that the economic impact of GenAI in the GCC region could reach US $ 23.5 billion per year by 2030 .
Strategy & says the biggest impact will be felt in Saudi Arabia ( US $ 12.2 billion ) and the UAE ( US $ 5.3 billion ). Then comes Qatar ( US $ 2.6 billion ), Kuwait ( US $ 1.6 billion ), Oman ( US $ 1.3 billion , and Bahrain ( US $ 0.6 billion ).
Industries affected the most , they say , will be media and entertainment , banking and financial services , healthcare , and IT and telecommunications .
Clearly , it ’ s time to make smart business decisions .
How to take the AI opportunity As a business leader , you may be wondering how best to implement generative AI – how to cut through the noise and discern genuine benefits that you can tap into . You are not alone . There are so many new tools on the market , and so many developers looking to make a fast buck , that many in the C-suite are becoming overwhelmed .
Rami Mourtada is Partner & Director , Digital Transformation , at Boston Consulting Group ( BCG ) in the Middle East . He says that when implementing generative AI for business , there are several key considerations that any business needs to take into account .
“ First , it is important to have a clear and compelling generative AI strategy in place ,” says Mourtada . “ This strategy should align with the business goals and objectives , as well as consider how generative AI can be integrated into existing processes and workflows .
“ Additionally , businesses need to carefully evaluate the data requirements and availability for training the generative AI models . They should also consider the ethical and responsible use of generative AI , ensuring that appropriate governance structures are in place .”
Danesi seems to prefer swifter action , pointing to foundation models – reusable AI models that require minimal training – that are , and will , transform business models . These include chatbots , virtual assistants , content creation , and analysis . businesschief . com 99