AI Investment Boom Spurs Talent Race

The global surge in Artificial Intelligence (AI) investments, fueled by increasing demand across digital industries such as digital health, future finance, cybersecurity, and public services, is driving a race among businesses to secure specialized talent and maintain their competitive edge. Research from Goldman Sachs forecasts global AI investments could reach $200 billion by 2025, while Bloomberg reports that the market value of generative AI alone could hit $1.3 trillion by 2032. This rapid growth is recognized by global leaders as a key driver of enhanced productivity and economic expansion.

Industry experts, like Thomas Pramotedham, CEO of AI enterprise Presight, highlight the transformative impact of AI. Speaking on the GITEX Tech Waves podcast, Pramotedham emphasized how AI will continue to evolve, becoming smarter and more efficient over the next decade, leading to improved solutions for complex problems and benefiting society as a whole.

As AI technology advances, over 3,500 of the world’s leading brands are set to converge at GITEX GLOBAL 2024, the world’s largest tech and start-up event, held at the Dubai World Trade Centre from October 14-18. The event will gather top innovators, investors, and government leaders to showcase groundbreaking AI technologies, discuss key challenges, and foster partnerships that will shape the future of the AI industry. With a focus on ethical development, quantum computing, large language models, and AI’s impact on sectors like education, finance, and healthcare, GITEX GLOBAL 2024 will serve as a critical platform for navigating the complexities of the rapidly growing AI economy.

Despite the booming AI industry, the talent gap remains a challenge. Deloitte reported only 22,000 AI specialists worldwide in 2022, and studies suggest that only half of AI-related jobs will be filled, further intensifying competition for skilled professionals.

The UAE is emerging as a leader in the global AI economy, with a long-term strategy to harness AI’s potential across sectors like public services, energy, and tourism. The UAE National Strategy for Artificial Intelligence aligns with the nation’s vision to become a global leader in AI by 2031. Dubai’s Universal Blueprint for Artificial Intelligence aims to accelerate AI adoption, boosting the city’s economy by AED 100 billion annually and increasing productivity by 50%.

GITEX GLOBAL 2024 will be a powerful platform for showcasing AI advancements, with participation from major global tech players like Adobe, AWS, Dell, Google, Microsoft, Nvidia, and Oracle. Top voices in the AI industry, including Isabell Gradert of Airbus, Michael Spranger of Sony AI, and Stephen Ibaraki of the UN/ITU AI for Good, will lead discussions on the future of AI and its implications for industries worldwide. The event underscores Dubai’s growing reputation as a global hub for AI innovation, reinforcing the UAE’s commitment to advancing the future of AI.