The demand for Artificial Intelligence (AI) in industries like digital health, future finance, cybersecurity, and public services is driving an unprecedented worldwide wave of investment in AI. Because of this, companies all over the world are currently in an intense struggle to find skilled AI workers, keep up the pace of their technological breakthroughs, and remain ahead of the curve as early adopters of AI.
Global AI investment is expected to reach $200 billion by 2025, according to Goldman Sachs, while Bloomberg predicts that the market for generative AI will reach $1.3 trillion by 2032. This quick expansion is a reflection of global leaders’ increasing awareness of artificial intelligence’s transformative potential to boost economic development and productivity. During the GITEX Tech Waves podcast, Thomas Pramotedham, the CEO of Presight, an AI firm based in Abu Dhabi, stressed this point by saying, “In five or ten years, AI will get smarter, leading to greater efficiency and faster solutions to complex problems.” In the end, this development will advance civilisation and make the world a better place.
Gathering at Dubai World Trade Centre from October 14–18, 2024, GITEX GLOBAL 2024 is expected to bring together over 3,500 international brands investing in AI solutions. A wide range of the IT community, including investors, government representatives, industry experts, and senior executives, will be present at this event to discuss the newest advancements in AI and to encourage cooperation. The occasion will act as a forum for conversation about the prospects and difficulties of the global AI economy, including topics such as large language models (LLM), quantum computing, ethical development, and the application of AI to banking, healthcare, education, and the future of employment.
Even though AI is developing quickly, there is still a shortage of talent in the world. According to Deloitte, there were just 22,000 AI specialists in the world in 2022. Only half of all AI-related job openings were expected to be filled last year, according to estimates, underscoring the widening talent gap as AI continues to upend industries.
UAE’s Goals to Become a Premier AI Economy
The UAE has established itself as a world leader in the AI industry, even as other economies scramble to address the lack of expertise in this field. In order to fully utilise AI, the progressive government of the United Arab Emirates has put in place a long-term plan that will empower people, companies, and communities. In keeping with its National Strategy for Artificial Intelligence, the nation aims to lead the world in AI by the year 2031. Numerous industries, including public services, energy, tourism, and education, have made investments in AI integration.
The government of Dubai has made great efforts to make the city the most flexible and future-ready in the world. Accelerating the deployment of AI solutions is the annual strategic plan known as the Dubai Universal Blueprint for Artificial Intelligence. This program is in line with the Dubai Economic Agenda D33, which seeks to use digital innovations to boost productivity by 50% and add AED 100 billion to the city’s GDP annually.
GITEX Global 2024: An Important Forum for Industry Leaders and AI Specialists
The largest tech and start-up event in the world, GITEX Global, is a great fit for the AI-driven economy of the United Arab Emirates. Dubai has quickly become a global centre for academics, leaders, and experts in AI, drawing the best brains in the field.
Leading international AI companies including Adobe, Alibaba Cloud, AWS, Builder AI, Dell, G42, Google, HPE, IBM, Meta, Microsoft, Nvidia, OpenAI, and Oracle will be present at this year’s GITEX. Companies from the Middle East, such as Presight, e&, Technology Innovation Institute (TII), and Khazna, will also present their AI advancements, showcasing the region’s technological superiority globally.
Axel Voss from the European Parliament, Michael Spranger from Sony AI, Jong-Soo Choi from Samsung, Stephen Ibaraki from AI for Good, and Isabell Gradert from Airbus are just a few of the esteemed international speakers scheduled to talk at the event. These influential people will hold conversations about artificial intelligence’s potential to revolutionise numerous industries.
Saad Farooq brings a blend of engineering prowess and a passion for writing to technewsme.com. As a tech engineer based in the vibrant tech landscape of the UAE, Saad has immersed himself in the latest technological advancements, making him an invaluable asset to our team. His deep understanding of tech intricacies comes from hands-on experience in the field, coupled with a genuine love for all things tech.
In his role at technewsme.com, Saad specializes in demystifying complex tech subjects, making them accessible and engaging for our readers. His articles are a reflection of his life in the UAE, a hub of technological innovation, offering a unique perspective on global tech trends and local developments. Whether it’s exploring new tech gadgets, delving into software innovations, or analyzing tech market trends, Saad’s writing is fueled by his extensive engineering background and his enthusiasm for sharing knowledge. Join him on a journey of discovery and insight into the world of technology, right from the heart of the UAE.
