Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, Chairman of The Executive Council of Dubai, and Chairman of the Higher Committee for Future Technology and Digital Economy, attended the opening of the inaugural edition of the Dubai AI & Web3 Festival on Wednesday.
The two-day festival, organised by the Dubai AI Campus in strategic partnership with the Dubai International Financial Centre (DIFC) and the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office, has brought together more than 6,800 business leaders. The event, which concludes on Thursday, September 12, aims to consolidate Dubai’s position as a global leader in harnessing transformational power of AI.
Emerging technologies
During his visit, Sheikh Hamdan toured several pavilions at the venue, where he was briefed on the emerging technologies showcased by more than 100 exhibitors. Sheikh Hamdan highlighted that the participation of the world’s most innovative AI enterprises reflects the event’s significance as a pioneering platform for technological innovation in the region.
Accompanying Sheikh Hamdan during the tour were Omar Sultan Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; Essa Kazim, Governor of DIFC; and Arif Amiri, CEO of DIFC Authority.
Enabling digital economies
The first day of the festival focused on the broad theme of enabling digital economies. Specific sessions delved into connecting technologies, scalability and storage; innovation and investments; and security and privacy.
Delivering the opening keynote address, Essa Kazim said: “Today, artificial intelligence is reshaping societies in profound ways, driving progress and enhancing our quality of life. The transformative power of AI is evident across a wide range of economic sectors and applications including healthcare, education, manufacturing, transportation and financial services, among others.”
“A deep-rooted culture of innovation has been instrumental in establishing the city as a global hub for technology companies. Over the past 20 years, DIFC has played a pivotal role in driving this innovation and shaping the economy and we seek to establish Dubai as the global capital of the digital economy,” he added.
Challenge X launched
He also announced that the Dubai AI & Web3 Festival will become one of the largest events globally for the industry, attracting more than 30,000 delegates annually by 2027. The governor of DIFC also announced the launch of a unique platform called Challenge X to help advance AI globally. This digital platform will serve as an online community for data scientists and machine learning enthusiasts, hosting competitions and providing a venue for individuals to showcase their skills and collaborate with others in the field. Users can test their abilities against a global audience, with prizes awarded to top performers.
According to a recent report by PwC, by 2030 the Middle East is expected to accrue $320 billion of AI-related benefits. The largest beneficiary is expected to be the UAE, followed by Saudi Arabia.
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