The global logistics sector, supply chain, finance, and other markets in the MENA region are already on the lines of growth because of AI-driven solutions and Blockchain solutions. The FinTech market of the Middle East and North African regions is already on the path of growth. AI is helping revolutionize and change the real-world utility of Blockchain technology. AI with Blockchain technology will help predict massive data, identify human patterns, and provide great insights into business operations. New economy companies are already using Generative AI to hyper-personalize marketing and transform the industries.
The integration of Blockchain and AI into the sector of Finance has already been witnessed in the Middle Eastern regions. FOREX.com has already invested in AI and Blockchain technology. They have come up with an AI index to trade, namely The BITA Artificial Intelligence Giants UST Index. This trading index offers revealing to the AI sector, featuring select US publicly listed companies that generate revenue within the AI ecosystem.
The companies listed on the BITA Artificial Intelligence Giants UST Index are inducing free-float market capitalization and help with intra-day trading in USD. Index values are published in the native Middle Eastern currencies, too. The Regional Director of FOREX.com states they provide cutting-edge finance and marketing tools using AI with Blockchain technology.
The future of AI in the MENA is bright, with billions of dollars being invested in these technologies. Using an AI-based Performance Analytics Tool gives customers access to Risk Management Performance Analytics Solutions. Blockchain solutions with AI are leveling up the security in the financial market by reducing fraud and guaranteeing transparent transactions.
The investments and expenditures in the MENA region will reach $3 billion by 2023 and will see a CAGR growth of 29.7% between the forecast periods 2022 and 2026. Digital transformation technologies and Cloud platforms are rapidly adopted to automate varied sectors. Including AI-driven automation and Blockchain solutions will help efficiently automate the tasks. It will contribute towards more agile business environments. The estimated investments will reach $6.4 billion by 2026.
The Global AI Blockchain market will witness the convergence of these two technologies. Blockchain will help with the secured storage of data, and AI will provide meaningful insights with the use of software product engineering solutions. 2027 will see a $1.18 billion growth over the previous years. The market forecast is set for a CAGR of 25.2%.
The MENA region’s investments in AI and enterprise Blockchain solutions will be $320 billion by 2030. This cost will help automate the tasks across the industries and improve various business products/services in various regions. The major investment hubs are UAE, Saudi Arabia, Kuwait, Qatar, and Egypt. The annual growth of AI towards the economy in the MENA region is estimated to reach 20% to 34% yearly.
The global impact of AI and Blockchain solutions will be massive in the coming years. The Blockchain market will reach $94 billion by 2027, and the Blockchain AI market is expected to reach $980.7 million by 2030. Companies across the globe are already leveraging their potential as software services companies in the Middle East, and other countries are adopting AI and Blockchain to get transformative digital solutions.
The companies in the MENA region are convinced of the potential of AI use in Blockchain Technology. Investments are overflowing into these two technologies at a massive rate. AI is bringing about change in the Blockchain sector in the following ways:
- No More Frauds: When AI is used with Blockchain in the banking or FinTech sector, there will be complete security of transactions. There will be transparent transactions, and the AI algorithm will check the transaction pattern and data.
- Intelligent Solutions: Blockchain uniquely stores decentralized information, and AI allows for self-learning and creativity. By combining both these technologies, there will be a system to avert cybersecurity and modernize business operations. It will further help in providing predictions and intelligent solutions for businesses.
- Prepare for Market Challenges: AI in Blockchain will help businesses like logistics, supply chain, FinTech, banking, etc., to face market challenges. As Blockchain will collect the decentralized data, AI can analyze and predict the challenges that will hamper marketing growth. With the successful integration of these technologies, businesses can watch out for market challenges and hop on with the best solutions.
- Enhancing Privacy: A few companies need to gain the major features of confidentiality and privacy. It impacts sensitive information and makes your operations vulnerable. By implementing AI with Blockchain technology, only users having the key to particular information can access it. AI will identify any impersonators and avert them from getting access. Businesses can contact any software product engineering company to integrate these technologies into their present software solutions.
Artificial Intelligence is on a path of booming with no looking back. The use of AI in the Blockchain sector in the MENA region has helped companies accomplish projects efficiently. You can contact a renowned custom software development company in UAE, Tntra. We have a team of dedicated AI and Blockchain experts to provide businesses with advanced technological solutions.
Call Tntra today for AI and Blockchain-enabled software engineering solutions.