Tech firms showcase latest AI innovations at UAE tech expo

One of the highlights was the XPeng AeroHT eVTOL Flying Car – enabling audiences to discover how such innovations represent a historic opportunity to revolutionise aviation and personal transportation. 

With five incredible themes across five unmissable days this year, “Tech Investment Day” was first up with the World Future Economy Digital Leaders Summit among the many shows that drew huge crowds. 

Cabinet Member and UAE Minister of Economy Abdullah Bin Touq Al Marri delved into the UAE’s strategic initiatives fostering innovation, enhancing competitiveness, and positioning the country as a global leader in the new economy.

UAE is leading the way with digitalisation accounting for half of the 300 deals related to M&A completed in the first half of 2024. 

With ambitions to be the home of 30 startup unicorns by 2030, the staging of GITEX Editions aligns with Dubai’s mission. 

To help nurture the growth of tomorrow’s giants in the GCC region, Harrison Lung, Group Chief Strategy Officer of e& was joined by Tanuja Randery, Managing Director, Europe, Middle East and Africa of Amazon Web Services (AWS) in an insightful session that focused on the importance of collaboration.  Harrison Lung explained the importance of joining hands to forge stronger alliances. He said: “For us, it’s more about a transformation towards a global technology company. In the areas of partnering, the idea is to develop a win-win proposition and solve the needs of customers.” 

Funding is a key pillar to drive growth – both in the long and short term but can be often challenging. Steven Hoffman, Venture Investor, Author; and Chairman & CEO of Founders Space, gave key advice on how startups should adopt a vertical growth strategy for the future. 

He said: “There is a lot of money going into AI but most of that is going into a handful of companies which are dominating the market and this is impacting the growth of startups. As such, a lot of money is now going into vertical AI where the specialist area is only on one focus such as healthcare or hospitality and this is centred around this business model and adding AI on top of this.” 

The World Future Economy Digital Leaders Summit comes at a time when the UAE is accelerating its efforts to adopt AI in different sectors. Last year, the country’s AI market was valued at USD $3.47 billion.