News DeskDubai, UAE – The global surge in Artificial Intelligence (AI) investments, driven by increasing demands in digital health, finance, cybersecurity, and public services, is igniting a competitive race among businesses to secure specialized talent and sustain the pace of technological innovation. Goldman Sachs forecasts global AI investment to reach $200 billion by 2025, with Bloomberg projecting a $1.3 trillion market value for generative AI by 2032.
This exponential growth underscores a broad recognition among global leaders of AI’s pivotal role in enhancing productivity and driving economic growth. Thomas Pramotedham, CEO of Abu Dhabi-based AI enterprise Presight, emphasized on the GITEX Tech Waves podcast that AI’s evolution will lead to greater efficiency and solutions for complex problems, benefiting society and the global landscape.
Over 3,500 prestigious brands investing in AI will converge at GITEX GLOBAL 2024, the world’s largest tech and start-up event, from October 14-18 at the Dubai World Trade Centre. This event will bring together a global tech community, including experts, founders, investors, government leaders, and senior executives, to showcase breakthrough AI technologies, discuss synergies, and forge collaborations for future advancements.
The event will address the AI global economy’s opportunities and challenges, including ethical development, quantum computing, large language models, policies and regulations, and AI’s real implications in education, health, and finance. The rapid AI emergence has significant impacts on the job market, with Deloitte estimating only 22,000 AI specialists worldwide in 2022 and a prediction that only half of AI-related jobs can currently be filled.
UAE’s Strategic AI Initiatives
The UAE is at the forefront of the AI industry, propelled by a robust government agenda aimed at leveraging AI to empower individuals and organizations. The UAE National Strategy for Artificial Intelligence envisions the country as a global AI leader by 2031. Dubai’s leadership has launched the Dubai Universal Blueprint for Artificial Intelligence, a strategic annual plan to accelerate AI adoption and achieve the targets of the Dubai Economic Agenda D33, aiming to add AED 100 billion ($27.2 billion) annually to the emirate’s economy and boost productivity by 50% through digital solutions.
GITEX GLOBAL 2024: A Hub for AI Innovation
GITEX GLOBAL 2024 aligns with the UAE’s AI-driven economic vision, positioning Dubai as a premier international hub for AI experts and leaders. The event will feature prominent tech giants such as Adobe, Alibaba Cloud, AWS, Builder AI, Dell, G42, Google, HPE, IBM, Meta, Microsoft, Nvidia, Open AI, and Oracle. Regional leaders like Presight, e&, Technology Innovation Institute, and Khazna will also showcase their AI advancements.
International speakers, including Isabell Gradert of Airbus, Michael Spranger of Sony AI, Axel Voss of the European Parliament, Stephen Ibaraki of UN/ITU AI for Good, Jong-Soo Choi of Samsung, and Dr. Priya Singhal of Biogen, will present thought-provoking discussions on AI’s future.
