GITEX Global 2024, held from October 14-18 at the Dubai World Trade Centre and Expand North Star, the startup event run from 13-16th October are 2 of largest tech events in the world, showcasing cutting-edge innovations and fostering collaboration among industry leaders. This year’s theme, “Global Collaboration to Forge a Future AI Economy,” highlights the event’s focus on artificial intelligence (AI) and digital transformation. With over 200,000 visitors expected and participation from more than 6,500 companies and 1,800 startups, GITEX serves as a vital platform for showcasing technological advancements across various sectors, including AI, cybersecurity, and fintech [1][2].
Exhibitors and Innovations
This year’s GITEX features a diverse range of exhibitors from around the globe. Major tech giants such as Google, NVIDIA and Microsoft are unveiling groundbreaking technologies that promise to reshape industries like healthcare and finance. Notably, 96 Korean firms are participating, emphasizing innovations in ICT and robotics [4]. Additionally, the event includes a strong representation from startups, with Expand North Star, a parallel initiative focused on startups in AI, Fintech, Web3, Blockchain, Crypto, PropTech and much much more, providing a dedicated platform for interaction between startups and investors.
Expand North Star
In 2023, Gitex Global decided to bifurcate the exhibition in 2 distinct entities, Gitex Global and Expand Northstar. The latter is an exhibition featuring startups from around the world, exhibiting their ideas, potential and growth to consumers and investors alike. This event took place from October 13-16 at The Dubai Harbour, an incredible man made island off the coast of Dubai adjacent to Dubai Marina which also hosts the Emaar Beachfront buildings. Here, there were 8 halls all divided into various specialisations; Fintech, Crypto, Web3, PropTech, consumer tech and many others. Over 70,000 people attended the event which included 1,200 investors and 650 speakers.
Our team at Viewit always takes part in this prodigious event where we had a booth at Hall 6. Over the course of 4 days we met eager consumers, investors and tech partners who were all impressed with what we’ve built and our roadmap for the future. We find it both challenging and validating to speak to people at this annual event. It gives us pause to think about what customers actually want, where tech trends are going and how where we can build strategic partnerships to improve the value we deliver to our agents and customers who visit viewit.ae and viewit.pk.
We also took part in an interesting panel discussing the latest innovations in experiential retail and how AR, VR, Video and AI are helping augment brands across borders.
Significance for Companies and Startups
GITEX is not just an exhibition but a critical networking hub for businesses seeking to expand their reach. The event facilitates connections between startups and potential investors, allowing them to showcase their innovations to a global audience. For instance, the Supernova Challenge 2.0, part of Expand North Star, offers startups the chance to pitch their ideas for a share of a $200,000 prize pool, attracting significant investment interest. This year, over 30% of participants in this competition are growth-stage startups looking for opportunities to scale internationally.
Moreover, GITEX serves as a barometer for technological trends in the region. With discussions on pressing issues like cybersecurity—projected to grow from $22 billion in 2023 to $36 billion by 2028—companies are keen to learn about innovative solutions that can protect their digital assets. The UAE’s proactive approach to digital transformation positions it as a leader in the MENA region’s tech landscape.
Gitex and what it means for the UAE
Gitex also shone a light on the UAE making significant strides in AI development, with the Advanced Technology Research Council (ATRC) leading the charge. The UAE aims to become a global AI leader, targeting a 13.6% contribution to GDP by 2030. ATRC’s Technology Innovation Institute (TII) has launched Falcon LLM, a powerful language model rivaling GPT-3. The institute is also developing Noor, an even more advanced AI system with 40 times more parameters than Falcon. If anyone can scale this, it’s the UAE.
UAE’s AI investments are substantial, with $9.89 billion allocated for digital transformation between 2020 and 2025 and the country currently ranks 14th globally in AI readiness. In the next 3-5 years, the UAE plans to expand its AI capabilities across various sectors, including healthcare, education, and government services. This push is expected to create numerous job opportunities and drive innovation in fields like robotics, autonomous systems, and natural language processing[1]. The UAE is one of the most tech reliant governments in the world, one example of which is that there is no paper allowed in the system. For example, if you go to a government department, you will not walk out with any paper. Everything is digital, which is a far cry from even the most advanced economies in Europe or the US.=
Conclusion
GITEX Global 2024 stands as a testament to Dubai’s commitment to becoming a global tech hub. The event not only highlights the latest advancements in technology but also serves as an incubator for ideas that can shape the future of industries worldwide. With initiatives like Expand North Star driving support for startups, Dubai is well-positioned to lead the charge in technological innovation across the MENA region and beyond.
Citations:
[1] https://wired.me/technology/gitex-global-2024-kicks-off-with-a-vision-for-a-global-ai-economy/
[2] https://ifza.com/en/gitex-2024-innovation-tech-entrepreneurship-dubai/
[3] https://timesofindia.indiatimes.com/city/thiruvananthapuram/kerala-start-ups-shine-at-gitex-global-2024-with-30-innovative-companies/articleshow/114194481.cms
[4] https://www.businesskorea.co.kr/news/articleView.html?idxno=227015
[5] https://www.gitex.com
[6] https://trinitycorporateservices.com/impact-of-ecommerce-on-retail-in-uae/
[7] https://www.u.plus/insights/identifying-the-latest-digital-trends-and-opportunities-in-uae-retail-part-1
[8] https://www.zawya.com/en/business/retail-and-consumer/ai-will-drive-hyper-personalisation-in-luxury-retail-sector-vsmz6ehn
Citations:
[1] https://wired.me/technology/uae-atrc-ai-advancements