Share

Sheikh Hamdan meets Google’s president, emphasizes AI for $27.2 billion annual growth

The discussions centered on enhancing the collaboration with this leading global technology firm
Sheikh Hamdan meets Google’s president, emphasizes AI for $27.2 billion annual growth
The meeting also covered Google’s recently launched AI Opportunity Initiative, its largest AI effort in the MENA region, which will allocate $15 million to enhance access to the opportunities presented by AI. (Photo Credit: Dubai Media Office)

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, convened today with Ruth Porat, president and chief investment officer of Alphabet and Google. Their discussion centered on enhancing the collaboration with this leading global technology firm.

Commitment to digital transformation

Sheikh Hamdan emphasized the commitment of Dubai and the UAE to shape a progressive future through the integration of cutting-edge digital technologies across various sectors. He pointed out the emirate’s increasing significance as a hub for technology innovators, entrepreneurs, and industry leaders from around the globe, all working together to drive transformation in crucial areas of the economy and society. By establishing strategic alliances with major players like Google, Dubai and the UAE aspire to ignite the development of unique solutions that will set new standards in the global technology arena, he noted.

Vision for excellence

Moreover, Sheikh Hamdan remarked that Dubai and the UAE are dedicated to being at the forefront of global digital transformation and establishing an international centre of excellence for future industries. He explained that with a robust infrastructure and a vibrant environment conducive to growth, Dubai has positioned itself as a key hub for the world’s leading technology firms to collaborate, unlocking new avenues for growth, innovation, and value creation in the digital sector.

Importance of AI in economic strategy

Sheikh Hamdan highlighted that forward-looking technologies such as Artificial Intelligence (AI) are essential to achieving the Dubai Economic Agenda D33’s objective of generating AED100 billion ($27.2 billion) in annual economic value through digital transformation over the upcoming decade.

Google’s AI Opportunity Initiative

The meeting also covered Google’s recently launched AI Opportunity Initiative, its largest AI effort in the MENA region, which will allocate $15 million to enhance access to the opportunities presented by AI. This initiative aims to equip half a million individuals with AI skills over the next two years, building on Google’s ongoing commitment to the region.

In attendance were His Excellency Omar Sultan Al Olama, UAE minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and director general of the Dubai Crown Prince’s Office; His Excellency Helal Saeed Almarri, director general of the Dubai Department of Economy and Tourism; and His Excellency Hamad Obaid Al Mansoori, Ddirector general of Digital Dubai.

The initiative further aims to empower 500,000 individuals within two years, building on Google’s longstanding commitment to the region, where it has trained three million people in essential digital skills since 2018. The AI Opportunity Initiative for MENA will encompass AI skill-building, research, products, and infrastructure. Moreover, Google has reaffirmed its dedication to fostering inclusive education and training opportunities, announcing new educational programs and curricula focused on AI and safety skills. This includes a new Arabic-language AI training curriculum as part of Google’s digital skills program ‘Maharat min Google’ in collaboration with Coursera, designed to equip individuals with AI competencies such as prompt engineering.

Google’s regional presence

Additionally, Google established its regional headquarters in Dubai in 2008, overseeing its operations throughout the Middle East and North Africa (MENA). Also, Alphabet, Google’s parent company, reported global revenues exceeding $307 billion in 2023, with a 15 percent increase in revenues to $88.27 billion for the July-September quarter of 2024.

Read more: UAE pioneering future of financial services through AI innovation

Collaboration with Dubai AI Campus

In August 2024, the Dubai AI Campus, the region’s largest dedicated cluster of AI companies located at the DIFC Innovation Hub, entered into a partnership with Google Cloud. This collaboration further aims to cultivate the startup ecosystem within the Dubai AI Campus, leveraging Google Cloud’s expertise and resources to support regional startups and accelerate their growth. Under this partnership, Google Cloud will provide mentorship opportunities for select startups at the Dubai AI Campus and collaborate on initiatives like Google Cloud’s Gen AI Startup School. Additionally, the Google for Startups Cloud Program will offer early-stage startups in the Dubai AI Campus ecosystem access to a variety of Google resources designed to help them harness the potential of Google Cloud and its latest innovations in AI.

The Dubai AI Campus represents a dedicated ecosystem for AI and Web3 innovation, offering state-of-the-art physical and digital infrastructure at the heart of the Dubai International Financial Center. It features R&D facilities, accelerator programs, and collaborative workspaces aimed at attracting, developing, and scaling startups in the region.

For more miscellaneous news, click here.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.