Today, as individual markets failed to produce and attract the right talent required for the fast-growing AI business, UAE is all set to become a preferential destination for AI renting. This trend will define GITEX GLOBAL 2024, the global tech and startup show to be held in Dubai from October 14-18. More than 6,500 exhibitors and 200000 technology managers from 180 countries are to convene the topic of the post-industrial society driven by Artificial Intelligence.
Industry insiders agree that current global AI investments are expected to grow to $200 billion by the year 2025, according to research by Goldman Sachs, while generative AI is estimated to be worth up to $1.3 trillion in the year 2032, companies are more than eager to retain their competitive advantage. AI is also regarded as an indispensable enabler of increasing productivity and spurring economic growth. Thomas Pramotedham, CEO of Abu Dhabi-based AI enterprise Presight, highlighted this evolution in a recent interview: “The functions of AI will only improve in the next five to ten years to create better and faster solutions to difficult problems serve the society better.”
The UAE has taken a futuristic approach and especially Dubai which has acted as the country’s driving force. Under the Dubai AI Strategy, the emirate wants to apply artificial intelligence in every major sector including government services, tourism or else, Dubai aims to boost the economy by $27.2 billion per year and productivity by 50 percent. It supports the UAE’s 2031 vision of becoming a global AI hub and manufacturer on its way to fully industrialize.
The next GITEX GLOBAL 2024 edition will have leaders in AI such as Google, Meta, Nvidia, and OpenAI as well as local ones such as Presight and the Technology Innovation Institute (TII) demonstrating how AI can revolutionise various sectors in the health, finance, and education fields.
The advancement of AI in the global economy thus dictates that the UAE is in the correct spot in the technological evolution wagon.
