This introductory chapter offers a historical overview and theoretical foundation of Artificial Intelligence (AI) and how it has evolved. It then contextualizes the great expectations surrounding AI held by its primary beneficiaries (national systems, economic sectors, businesses, and individuals) and the macro-opportunities and implications. It argues that AI will have substantial political, economic, and societal implications for the development of the Gulf region and globally. Next, the chapter narrows quickly on the emerging economies of the GCC region, their evolving nature, and the role envisioned for AI in their socio-economic transitions. The gap between the interest and potential of AI in the region and the scholarly work on the topic is then highlighted, motivating the need for the current volume. The objectives and expected contributions of the chapter and the volume are finally presented. It ends by explaining the organizational structure of the book and making some concluding remarks on the role of AI in shaping the future development in the GCC countries.