World Future Economy Digital Leaders Summit debuts at GITEX GLOBAL, shaping the future global tech and policy landscape

Post by: Raman Preet

• The 44th edition of the world’s largest tech event, begins at Dubai World Trade Centre as key high-level gathering puts the focus on technology investments.

Dubai, United Arab Emirates – 14 October 2024: Government officials, global industry leaders, and experts convened in Dubai for the opening day of the World Future Economy Digital Leaders Summit on Monday, focusing on charting a course for AI Compute-Driven economic transformation.

GITEX GLOBAL, the world’s largest tech event, commenced at the Dubai World Trade Centre (DWTC) with "Tech Investment Day," centering on the next-generation semiconductor market, projected to reach USD $1 trillion by 2030, alongside discussions on the future of data governance. This year's mega event is themed “Global Collaboration to Forge a Future AI Economy.”

The World Future Economy Digital Leaders Summit arrives at a pivotal moment as the UAE accelerates its adoption of AI across various sectors. Last year, the country's AI market was valued at USD $3.47 billion. H.E. Abdullah Bin Touq Al Marri, Cabinet Member & Minister of Economy at the UAE’s Ministry of Economy, emphasized the critical role of AI in the nation's economic future.

In his address, he highlighted that AI is a significant driver of progress, impacting daily life, from transportation to food delivery. He stressed the need for individuals and businesses to effectively harness AI to further stimulate growth across different sectors.

This year’s GITEX GLOBAL has achieved record international participation, with a 40% increase in attendance, welcoming new nations to its 44th edition. Europe has a notable presence this week, marking the largest in the event’s history, with the region’s tech industry projected to grow by 12% by year-end.

Stephane Ouaki, Head of Department at the European Innovation Council, outlined how the continent is advancing its tech ecosystem. He stated that the Council supports transformative innovations, providing entrepreneurs with opportunities to enhance their knowledge and learn from peers, ultimately benefiting national and regional economies.

Ignacy Niemczycki, Undersecretary of State at the Ministry of Economic Development and Technology of Poland, discussed the country's technological embrace. He remarked, “Our culture is a key pillar in our journey of becoming a tech leader, and we have maintained a stable economy that has shown resilience for the last 30 years. More importantly, there is a genuine interest in the STEM field—most people in Poland aspire to be software engineers, leading to a pool of exceptional IT talent and successful tech entrepreneurs.”

Attendees also heard from Dr. Jaroslaw Kutylowski, founder and CEO of DeepL, a leading German global language AI company, on how his business utilizes large language models (LLMs). He stated, “The models we have been building have stayed true to our products, contributing to our success. As the company has grown, we have invested more in compute technologies, including a data center facility in Sweden. However, we must continue innovating to stay ahead; otherwise, we risk stagnation.”

In a remarkable moment, Heman Bekele, named TIME’s 2024 Kid of the Year for developing a potential skin cancer treatment, shared his inspiring journey. He discussed how his failures while creating his innovative soap product strengthened him, emphasizing that passion has been vital to his success.

Taking place at the Dubai World Trade Centre (DWTC) until 18 October, GITEX GLOBAL is showcasing its largest and most international edition in its 44th year, with over 6,500 exhibitors, 1,800 startups, 1,200 investors, and government representatives from more than 180 countries.

GITEX GLOBAL is seamlessly connecting with the world’s largest network of tech events, including GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA, all of which foster collaboration and drive innovation to shape the tech landscape of tomorrow.

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