- AI to generate over $1 trillion in economic value in MENA by 2030.
- FAB’s AI platform targets $200 billion in additional sustainable financing.
- WEF urges businesses to scale AI adoption, measure returns and strengthen governance to unlock its full value.
Artificial intelligence (AI) stands to generate more than $1 trillion in economic and sustainability value in the Middle East and North Africa (MENA) by 2030, according to a report by the World Economic Forum (WEF) and Bain & Company.
The report highlights opportunities in sustainable finance, energy, public investment, asset protection, and business-government partnerships.
The projected value includes:
- $370 billion from sustainable public-sector investments.
- $250 billion from preventing long-term damage to assets.
- $200 billion from additional sustainable financing.
- $100 billion from sustainable projects created through partnerships.
- $90 billion from improved sustainability performance in the energy sector.
Bain & Company Partner Wissam Yassine said realizing these benefits depends on how quickly organizations move from testing AI projects to deploying them at scale.
FAB AI Platform Targets $200 Billion in Sustainable Financing
First Abu Dhabi Bank (FAB) partnered with WEF and Bain to develop an AI tool called Sustainable Finance Market Pulse. The platform scans thousands of market signals each week to identify sustainable financing opportunities.
The report estimates that the tool will deliver returns of 50 to 135 times FAB’s investment over five years. Wider adoption in MENA stands to unlock around $200 billion in additional sustainable lending by 2030.
Abu Dhabi National Oil Company (ADNOC) also partnered with the organizations to develop two AI tools. One helps businesses prepare for climate risks and protect their assets, while the other analyses sustainability performance and identifies areas for improvement.
Saudi Arabia and Bahrain Deploy AI to Drive Sustainable Growth
Saudi Arabia’s Ministry of Economy and Planning helped develop SUSTAIN, an AI platform that connects verified organizations with potential partners for projects aligned with national development goals.
The report estimates that these partnerships will generate up to $100 billion in additional financial and non-financial value across MENA by 2030.
In Bahrain, the Ministry of Sustainable Development collaborated on SME SMART, an AI tool that assesses how prepared small and medium-sized enterprises (SMEs) are to meet sustainability goals.
Implementing the tool’s recommendations stands to increase the combined value of Bahraini SMEs by $17 million by 2030. The report also estimates that every $1 invested in developing the tool will generate up to $3 in value.
Slow AI Adoption Threatens to Limit the Opportunity
Despite AI’s significant potential, many organizations struggle to translate experimentation into practical implementation. A survey by the MENA Chief Sustainability Officers Network found that:
- 89% of respondents believe AI will significantly help their organizations achieve environmental, social and governance (ESG) goals.
- Only 40% to 55%, depending on the application, reported that their AI initiatives had reached the pilot or large-scale implementation stage.
The report identifies several barriers to progress, including unclear decision-making, difficulties measuring financial returns, and an emphasis on incremental improvements rather than broader business transformation.
Related: IMF Warns AI Investment Crash Could Risk Global Economic Growth
WEF Recommends Five Steps to Scale AI Adoption
WEF and Bain recommend five steps to help organizations maximize the value of AI:
- Assess existing AI capabilities.
- Set clear goals.
- Identify promising AI applications and test them quickly.
- Measure financial returns and sustainability benefits.
- Establish governance rules and oversight to support implementation at scale.
The report also calls for stronger cooperation among businesses, governments, technology experts and sustainability teams, alongside greater investment in skills development.
In sum, AI represents a $1 trillion economic and sustainability opportunity for MENA by 2030. Capturing this value hinges on decisive action by governments and businesses, effective implementation of AI solutions, and the ability to turn early experiments into measurable results.
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