The World Future Economy Digital Leaders Summit kicked off at the Dubai World Trade Center, bringing together government officials, industry leaders, and experts to explore the future of global technology investments. Fahad Al Hassawi, senior vice president, chaired with Eroz Toll, head of legislative affairs; Paul Etheredge-Barton, chief executive officer at Finzly; Mariam Lakhani, finance director at SP Richards; Sanjay Malhotra, partner, EY India; and Matthew Van Luven, chief product officer, Engagements, Guidehouse - some of the discussions in the hall formed the full agenda of the 44th GITEX GLOBAL, that zeroes in on the transformational power of AI in redefining economic horizons.
There were discussions at the summit through 'Tech Investment Day, which centered on critical sectors like the emerging semiconductor market valued at USD $1 trillion by 2030 and the potential of data governance in the future. This happens to be the essence of GITEX this year, which goes by the theme of 'Global Collaboration to Forging a Future AI Economy'.
H.E. Abdullah Bin Touq Al Marri, UAE Minister of Economy added that AI is an important aspect that further harnessed the nation's forward-looking vision to achieve economic improvement. "AI is changing transportation and food services, for example; however, businesses and individuals should get more beneficial traction with this technology." The future is AI, and it's already changing our day-to-day lives. In order to enable more growth, AI must be integrated into all domains, Al Marri said. According to him, the market for artificial intelligence in the UAE reached an amount of $3.47 billion in 2023 with enormous growth prospects.
This year's GITEX GLOBAL is the biggest in the history of the exhibition, which has reached a record international presence, increasing by 40%, including Europe, which is expanding participation. The European tech industry has grown by 12% by the end of 2024. From the European Innovation Council, Stephane Ouaki shared insights on how Europe is enhancing its tech ecosystem through support for disruptive innovations. He explained that the council provides entrepreneurs with resources that not only boost national economies but also contribute to regional development.
Ignacy Niemczycki is an undersecretary of the state ministry of economic development and technology in Poland. "Our strong STEM culture is foundational to our tech industry, and we're proud to cultivate some of the best software engineers in the world."
Innovators and young visionaries also shared the spotlight during the summit. DeepL CEO Dr. Jaroslaw Kutylowski explained how innovation must be continually progressive to stave off stagnation and a more robust computing infrastructure for his company. Heman Bekele, TIME's 2024 Kid of the Year, moved audiences with his story on his path to creating a soapy concoction that can help fight skin cancer as he outlined resilience and persevering ability.
GITEX GLOBAL 2024 will take place through October 18, which marks the largest and most international edition of this event in its history with more than 6,500 exhibitors, over 1,800 startups, and 1,200 investors from more than 180 countries. The events are interconnected with the global network of GITEX and host satellite events across continents for intercontinental cooperation and innovation in the tech landscape.
