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Distress signals: Cooperation agreements or mergers to the rescue in times of crisis?
The current volatile and unpredictable economic climate creates challenges for businesses.
Global | Publication | September 2024
Interest in AI in the Middle East has surged in recent years, with several governments announcing national AI strategies and implementing initiatives to drive its adoption. Norton Rose Fulbright listed some as including:
Similarly, Saudi Arabia formed the Saudi Data & AI Authority in 2019 to serve its goals under Vision 2030 and has plans to invest $20bn in AI by 2030. Initiatives in other countries have also followed, with countries such as Qatar and Egypt also unveiling ambitious AI strategies and e-government programmes.
“The expected financial impact of AI in the Middle East is significant, with the region estimated to accrue $320bn in value added by AI by 2030,” according to Norton Rose Fulbright partner Shabnam Karim.
The integration of AI has become prevalent in over 50% of insurance customer interactions in Saudi Arabia, marking a significant shift towards
efficiency and innovation in the industry.
It was reported that the country recorded more than 80m transactions within the insurance sector through AI.
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The current volatile and unpredictable economic climate creates challenges for businesses.
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Recent tariffs and other trade measures have transformed the international trade landscape, impacting almost every sector, region and business worldwide.
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In mid-March 2025, Cognia Law and Norton Rose Fulbright’s Legal Operations Consulting team co-hosted a second roundtable event that brought together senior leaders, including GCs, COO and head of legal operations, from across the legal industry to discuss how to drive meaningful change within the legal ecosystem.
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