In 2023, GenAI promised global business transformation, with the Middle East adopting a distinct approach despite global dissatisfaction. A Boston Consulting Group (BCG) survey reveals that 61% of Middle Eastern executives expect productivity gains from AI/GenAI in 2024, contrasting with 66% of global leaders reporting dissatisfaction. Middle Eastern executives focus on practical AI applications, with 54% prioritizing large-scale initiatives. David Panhans of BCG highlights the region’s use of data for strategic value, driving productivity and innovation.

The BCG AI Radar report finds a significant rise in tech investments for 2024, with 71% of executives increasing funding, and 85% focusing on AI/GenAI. The Middle East leads in GenAI upskilling, though only 11% report extensive workforce training. Mark Zaleski of BCG X notes the region’s commitment to advancing tech and human capital but acknowledges the long road to AI proficiency.

Many companies await AI regulations, with 60% still in a wait-and-see mode. Winning companies invest in productivity, growth, upskilling, and responsible AI. Robert Xu of BCG X emphasizes AI’s transformative potential, advocating a “Value-first” approach and “Tech + Change Management” mindset to drive success. Integrating GenAI into businesses promises growth and innovation, enhancing regional development.

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