UAE Leads AI Race as Global Markets Seek Specialized Talent

The global rise in artificial intelligence (AI) investments is driving a competitive race among businesses to secure specialized talent in various digital sectors, including health, finance, cybersecurity, and public services. Research from Goldman Sachs suggests that global AI investments could reach $200 billion by 2025, while Bloomberg estimates the generative AI market could be valued at $1.3 trillion by 2032.

Read More: GITEX Global to Explore AI, Sustainability & Cybersecurity

This growth reflects a recognition among global leaders of AI's role in enhancing productivity and driving growth. From October 14-18, over 3,500 brands will gather at the Dubai World Trade Centre for GITEX GLOBAL 2024, the largest tech and start-up event worldwide. This exhibition and conference will connect tech experts, founders, investors, government leaders, and senior executives to showcase innovative AI technologies and discuss collaborations.

Major tech companies, including Adobe, Alibaba Cloud, AWS, Microsoft, and Nvidia, will participate, alongside regional organizations like Presight and the Technology Innovation Institute.

The event will address opportunities and challenges within the global AI economy, including ethical development, quantum computing, large language models, and the implications of AI in education, health, and finance.

According to recent studies, the rapid emergence of AI is affecting the job market. Deloitte reported only 22,000 AI specialists existed in 2022, with predictions that only half of all AI-related jobs could be filled.

In response, the UAE is positioning itself as a global AI hub through a comprehensive government agenda that aligns with the UAE National Strategy for Artificial Intelligence, aiming to become the world leader in AI by 2031. Investments are being made to integrate AI into public services, energy, tourism, and education.

Recently, Dubai announced a major new quality-of-life strategy to make Dubai the world's best place to live, work, and travel.

Also, the UAE's Artificial Intelligence, Digital Economy, and Remote Work Applications Office introduced the UAE Charter for the Development and Use of AI, aimed at realizing the goals of the UAE Strategy for AI.

In April, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, launched the Dubai Universal Blueprint for Artificial Intelligence. The blueprint outlines a comprehensive yearly plan focused on leveraging AI to enhance quality of life across various sectors.

The plan is designed to create an ecosystem conducive to economic growth, technological utilization, and rapid advancement in AI applications. It prioritizes fostering an environment that attracts global AI talent and companies, supported by infrastructure and favorable regulatory frameworks.

A key aspect of the blueprint involves integrating AI into government operations, aiming to enhance efficiency and service delivery.

Last year, Digital Dubai Government Establishment, Digital Dubai, announced the launch of ‘Dubai AI,’ a generative AI-powered digital city concierge.

More details about GITEX GLOBAL 2024 can be found at www.gitex.com.