{"id":2261,"date":"2024-05-28T08:18:45","date_gmt":"2024-05-28T08:18:45","guid":{"rendered":"https:\/\/insight.thomsonreuters.com\/mena\/legal\/?p=2261"},"modified":"2024-06-06T08:22:13","modified_gmt":"2024-06-06T08:22:13","slug":"ai-will-be-transformational-middle-east-north-africa","status":"publish","type":"post","link":"https:\/\/insight.thomsonreuters.com\/mena\/legal\/posts\/ai-will-be-transformational-middle-east-north-africa","title":{"rendered":"AI will be ‘transformational’, say professionals in Middle East & North Africa"},"content":{"rendered":"\n

The prolific use of artificial intelligence (AI) and large language models will have a \u2018transformational\u2019 impact on professionals based in the Middle East and North Africa (MENA) over the next five years, a Thomson Reuters survey has found. Professionals in the region, rated AI as the trend most likely to transform their roles by 2029. In total, 86% expect widespread adoption of AI to have a significant impact on their profession.  <\/p>\n\n\n\n

\n

\u201cAI is transforming the world of work across professions and regions,\u201d commented Jackie Rhodes, Managing Director for Asia & Emerging Markets at Thomson Reuters. \u201cAI is clearly a once-in-a-career opportunity impacting the growth of firms and companies around the world.\u201d  <\/p>\n<\/blockquote>\n\n\n\n

Between December 2023 and February 2024, Thomason Reuters surveyed 1,000 professionals worldwide, of which nearly 300 were based in the MENA region. As part of the market research, individuals in legal, risk, compliance, tax and global trade functions were asked how AI may affect the future of their profession. The findings are published in the Future of Professionals Report \u2013 Asia & Emerging Markets Edition.<\/em> <\/a><\/p>\n\n\n\n

Respondents ranked an \u2018explosion in data volumes\u2019 as the second-biggest trend (92%) to affect MENA professions over the next five years. Among these, 22% said it would have a \u2018transformational\u2019 impact, while 38% believe it will have a high impact. These findings reflect the increasing pressure that professionals are under worldwide. Among global respondents, 88% ranked increasing data complexity among the top-three expected trends, underscoring the need to manage growing data across all sectors effectively. <\/p>\n\n\n\n

Purpose-built legal technology with AI capabilities can enable professionals to manage rising data volumes over the coming years. Tailored legal solutions can rapidly analyze huge volumes of complex data within custom parameters and secure systems. It can facilitate informed decision making by senior leaders and enhance business agility. <\/p>\n\n\n\n

Millennials who rise through the ranks are set to leverage AI innovations to support business growth. MENA respondents expect the ascension of millennials to leadership roles to be the biggest trend affecting their profession by 2029. In total, 94% said the increase of millennial leaders would have a significant impact on their profession. Similarly, 92% of global respondents also ranked this as the top upcoming trend. <\/p>\n\n\n\n

\"AI's<\/figure>\n\n\n\n

AI use cases aligned with MENA business priorities<\/h2>\n\n\n\n

The newly released Future of Professionals Report <\/em>shows that digital transformation remains high on business agendas. Nearly half of MENA respondents (47%) said their department\u2019s top priority over the next 18 months will be keeping pace with their organisation\u2019s digitisation efforts. This aligns closely with global data, where 46% prioritise digitalisastion as their highest priority.  <\/p>\n\n\n\n

These business strategies reflect national efforts to increase digitisation and leverage AI across sectors. Digital transformation is a core component of long-term governmental strategies across the region, including in the UAE, Saudi Arabia, Kuwait, Egypt, Oman and Jordan. Several MENA jurisdictions also have national AI strategies, including Qatar, Bahrain, Kuwait, Saudi Arabia, the UAE, Oman, Egypt and Jordan. <\/p>\n\n\n\n

The UAE <\/s>, for example, actively supports technological innovation. The government\u2019s 2025 digital strategy includes plans to leverage emerging technologies and make data-driven policy decisions. The jurisdiction also benefits from a Cognitive, Artificial Intelligence and Robotics Laboratory, which has been designed to serve the UAE\u2019s national priorities. The UAE aims to become a global leader in AI by 2031, by leveraging the power of AI-driven solutions to develop transformative opportunities across sectors. <\/p>\n\n\n\n

Innovative AI strategies that align with business priorities could revolutionise many organisations in the coming years. AI-powered legal technology has the potential to help MENA professionals achieve their second and third-highest priorities: identifying and mitigating emerging risks (43%), and monitoring legal and regulatory change (40%). Global respondents also ranked these among their top three priorities, demonstrating the rising regulatory complexity worldwide. <\/p>\n\n\n\n

Beyond risk and regulatory Management, MENA professionals have other opportunities to leverage AI to achieve business priorities. These include:  <\/p>\n\n\n\n