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GITEX Global and Expand North Star to Shape Future of AI Economy with Market Set to Reach $2.7 Trillion by 2032

by SAT Reporter
October 13, 2024
in Markets
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GITEX Global and Expand North Star to Shape Future of AI Economy with Market Set to Reach $2.7 Trillion by 2032

GITEX Global, the world’s largest tech and startup event, will make its grand return to Dubai from 14-18 October, poised to reshape the global digital economy and artificial intelligence (AI) landscape. As the international technology community convenes for the 44th edition of this prestigious gathering at the Dubai World Trade Centre (DWTC), the event is expected to deliver unparalleled insights into AI-driven innovation. Alongside the concurrent Expand North Star investment show, held at Dubai Harbour from 13-16 October, these events are set to accelerate the development of the global AI economy, which is projected to soar from $621 billion in 2024 to a staggering $2.7 trillion by 2032, according to Fortune Business Insights.

This year’s GITEX Global, under the theme “Global Collaboration to Forge a Future AI Economy,” will feature an unprecedented scale of participation, with over 6,500 exhibiting companies, 1,800 startups, and 1,200 investors from more than 180 countries spread across 38 innovation halls. The event’s focus on AI, data, cloud computing, and IoT technologies signals Dubai’s intent to cement itself as a global leader in the digital future.

Trixie LohMirmand, Executive Vice President of DWTC and organiser of GITEX Global, highlighted the significance of this year’s event: “With international participation rising by nearly 40%, GITEX Global is a barometer of the ambitions of emerging digital nations worldwide. Through strategic collaborations and intensive engagements, we aim to forge competitive advantages in the race toward global AI dominance.”

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Among the tech titans attending GITEX Global are Adobe, Alibaba Cloud, AWS, Dell, Google, Honeywell, IBM, Microsoft, Nvidia, and Oracle. Additionally, Abu Dhabi’s Advanced Technology Research Council (ATRC) and G42 Group will play key roles in showcasing the UAE’s ambitions to become a nexus for global AI innovation.

As part of the broader programme, GITEX Global will host over 120 hours of AI-focused discussions on how AI is transforming sectors such as healthcare, finance, and education. This year’s event will also launch the region’s largest Data Centre Symposium, reflecting the growing demand for data storage driven by rapid AI adoption. Leaders from Datalec, Schneider Electric, and Vertiv will participate in discussions designed to address the exponential growth in global data needs.

The excitement around GITEX Global 2024 is also a precursor to the newly-announced AI Everything Global 2025 event, which will bring visionary AI tech companies to Abu Dhabi and Dubai next February to explore opportunities for responsible, innovative AI development.

Running concurrently with GITEX Global, Expand North Star will focus on fostering innovation in tech and investment. With over 450 startups and a pool of investors overseeing $1.2 trillion in Assets Under Management (AUM), the event promises to drive major developments in blockchain, fintech, and AI entrepreneurship.

Notable investors including Bessemer Ventures, SOSV, and the European Innovation Fund will participate in the event, while the Supernova Challenge 2.0 startup pitch competition offers a $200,000 prize pool to the most groundbreaking companies.

This year, GITEX Global boasts its largest international participation to date, with over 400 government agencies and digital development organisations in attendance. Among the new countries debuting at the event are Austria, Ireland, Latvia, Serbia, and Malaysia. Latin American and Southeast Asian nations, including Singapore and Kyrgyzstan, will also showcase their emerging tech sectors alongside long-time participants such as China, Japan, and India.

The European Innovation Council will make its first appearance at GITEX Global, marking a major milestone for European tech investment in the region. Other significant global partnerships include collaborations with Johns Hopkins University, MIT, University College London, and corporate ventures from industry giants like Sony and Standard Chartered.

GITEX Global 2024 will also feature key initiatives aimed at shaping the future of the digital economy, such as GITEX Editions, a new platform for advanced tech companies and unicorns. The event will connect 59 top unicorns and scale-ups, including Axelera, DeepL, and Insilico Medicine, as they look to drive innovation in AI and beyond.

Meanwhile, cybersecurity will take centre stage with the GITEX Cyber Valley showcase, presented in partnership with the UAE Cyber Security Council. Given that global cybercrime damages are projected to reach $10.5 trillion annually by 2025, the event will bring together leading CISOs, CIOs, and cybersecurity experts to discuss strategies for combating rising digital threats.

Leo Chen, Corporate Senior Vice President and President of Enterprise Sales at Huawei, emphasised the event’s importance for the industry: “GITEX Global provides a unique platform for meaningful dialogue on industrial intelligence and digital transformation. We are excited to explore the endless possibilities of the future.”

With an action-packed agenda that includes the World Future Economy Digital Leaders Summit, GITEX Global 2024 promises to deliver groundbreaking advancements across AI, cybersecurity, blockchain, and more. As the tech world converges on Dubai next week, the event will lay the groundwork for a future powered by AI, driven by the vision and collaboration of global leaders.

Tags: AI EconomyAI FutureAI InnovationArtificial IntelligenceCloud ComputingcybersecurityData Centre SymposiumDubaiExpand North StarGITEX GlobalGlobal Tech EventInvestorsIoTStartups
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