The rapid growth of Artificial Intelligence (AI) investments, driven by rising demand across digital sectors such as digital health, future finance, cybersecurity, and public services, has sparked fierce competition among businesses. Companies are racing to attract specialized talent, maintain the fast pace of tech innovation, and secure their positions as early AI adopters. According to Goldman Sachs, global investment in AI could hit $200 billion by 2025, while Bloomberg projects that the generative AI market alone could be valued at $1.3 trillion by 2032.
This growth is driven by a widespread acknowledgement amongst global leaders that AI solutions are an increasingly vital tool for driving enhanced productivity and higher growth. As Thomas Pramotedham, CEO of Abu Dhabi-based AI enterprise Presight, recently told the GITEX Tech Waves podcast: “Today you’ll see companies applying AI and AI evolving – in five, ten years’ time, it will get smarter, and when it gets smarter, you’ll get more efficiency and shorter routes to answers for difficult and complex questions. In return, that will be to the betterment of society and the world we live in”.
More than 3,500 of the world’s leading brands, including Presight, will gather at the Dubai World Trade Centre for GITEX GLOBAL 2024, the world’s largest tech and start-up event. This major exhibition and conference will unite the global tech community, bringing together experts, founders, investors, government leaders, and senior executives. Attendees will showcase cutting-edge AI technologies, explore collaborative opportunities, and forge key partnerships aimed at driving future advancements in the industry.
The landmark event will spotlight the opportunities and challenges surrounding the AI global economy, including ethical development, quantum computing, large language models (LLM), policies and regulations, real implications of AI in edtech, health, and finance, and the future of work and employment. The rapid AI emergence still impacts the job market according to recent studies. In 2022, Deloitte estimated that there were only 22,000 AI specialists in the world while, last year, it was predicted that only half of all AI-related jobs could be filled.
Surpassing many global markets, the UAE has rapidly emerged as a leading hub for the AI industry, driven by a strong long-term government agenda aimed at maximizing AI's potential to benefit individuals, communities, and organizations. In line with the UAE National Strategy for Artificial Intelligence and its ambitious goal to become a world leader in AI by 2031, the country has made significant investments in incorporating AI into sectors such as public services, energy, tourism, and education.
Dubai's leadership has demonstrated a strong commitment to transforming the emirate into the world’s fastest, most agile, and future-ready city with the launch of the Dubai Universal Blueprint for Artificial Intelligence. This strategic annual plan aims to accelerate the implementation of AI applications, supporting the goals of the Dubai Economic Agenda D33. The plan seeks to add AED 100 billion (27.2 billion dollars) annually to Dubai’s economy and increase productivity by 50% through the adoption of digital solutions.
