GITEX GLOBAL and Expand North Star set to accelerate world’s AI economy with market projected to reach $2.7 trillion by 2032

Post by : Elena Malik

• Event billed as a catalyst for redefining the world’s digital economy and AI ecosystem under this year’s ‘Global Collaboration to Forge a Future AI Economy’ theme

Dubai, United Arab Emirates – October 12, 2024: GITEX GLOBAL, recognized as the world's largest technology and startup event, is set to take center stage in the UAE next week, with its 44th edition poised to redefine the global digital economy and AI ecosystem.

Taking place at the Dubai World Trade Centre (DWTC) from October 14-18, this unparalleled international showcase promises to be more influential than ever, featuring an expanded program that transforms the UAE into a hub for artificial intelligence. This year's theme, "Global Collaboration to Forge a Future AI Economy," invites participation from the world's leading technology enterprises, governments, investors, experts, startups, academia, and researchers.

Simultaneously, the event will host Expand North Star, the world's largest startup and investment showcase, fostering innovation and collaboration in the tech space.

A Global Agenda for Tomorrow’s AI Economy

As reported by Fortune Business Insights, the global AI market is anticipated to reach $621 billion in 2024 and soar to $2.7 trillion by 2032. Given its significant influence on the future, AI will take center stage at GITEX GLOBAL 2024, with over 3,500 enterprises unveiling groundbreaking innovations in AI, IoT, data, and cloud technology. Notably, TECOM Group PJSC will celebrate its 25th consecutive year at GITEX GLOBAL. Ahead of the event, Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC and Managing Director of Dubai Internet City, emphasized Dubai’s pro-innovation frameworks as vital to tech advancements. He stated, “GITEX GLOBAL serves as a springboard to unlock this potential, and as the region's leading tech hub, Dubai Internet City has been a proud partner in the mission for a brighter future.”​​​​​​​

Abu Dhabi’s influential companies, including the Advanced Technology Research Council (ATRC) and G42 Group with its leading enterprises Presight and Khazna, will further establish the Emirate’s role as a burgeoning global AI nexus. Other participating tech giants include Adobe, Alibaba Cloud, AWS, Builder AI, Dell, Google, Honeywell, Huawei, IBM, Lenovo, Microsoft, Nvidia, Oracle, Salesforce, SAS, solutions by STC, and Tech Destination Pakistan.

GITEX GLOBAL 2024 will feature over 120 hours of AI and deep-tech content covering topics such as Future Health, Digital Finance, and EdTech. In response to the rapid pace of AI adoption and the surging demand for data storage, the event will also introduce the region’s largest Data Centre Symposium, showcasing industry leaders such as Datalec, Kerno, Khazna, Legrand, NTT Data, Schneider Electric, and Vertiv. This year’s event will build anticipation for the upcoming AI Everything Global 2025, scheduled for February in Abu Dhabi (February 4) and Dubai (February 5-6), which will gather visionary AI tech companies to shape a responsible AI industry for the future.

Fast-Tracking the Next Generation of Startups

Expand North Star will serve as the world’s largest startup and investment event, connecting innovative global founders with new markets, enterprise customers, and a powerful network of investors and venture capitalists managing over $1.2 trillion in Assets Under Management (AUM). Notable investors include SOSV, Bessemer Ventures, Lightrock, Sinovation Ventures, and the European Innovation Fund.

The event will redefine the future of money, blockchain, and creativity through co-located events such as GITEX Impact, Fintech Surge, Future Blockchain Summit, and Marketing Mania. The Supernova Challenge 2.0, the world's largest startup pitch competition, will also take place, offering winners a chance to share a prize pool of $200,000.

Historic International Involvement

GITEX GLOBAL 2024 will see record international attendance, welcoming over 400 government and digital development agencies from around the world. In addition to regular participants, new nations will showcase their latest technological innovations. This year's event will feature the largest European participation to date, with over 35 countries exhibiting alongside more than 1,000 SMEs and 450 startups from first-time participants, including Austria, Bosnia and Herzegovina, Ireland, Latvia, Lithuania, Portugal, Serbia, and Slovenia. Rising digital nations from Latin America and Central and Southeast Asia will also participate, joining established GITEX GLOBAL attendees like China, Japan, South Korea, and India, as well as newcomers such as Singapore, Malaysia, Kazakhstan, and Kyrgyzstan.

GITEX GLOBAL will promote international business development, entrepreneurship, and investment engagement, benefiting enterprises and SMEs. For the first time, it will host the European Innovation Council, Europe’s largest deep-tech investor, along with significant collaborations with global organizations from all continents, including IE University, University College London (UCL), Johns Hopkins University, and the Massachusetts Institute of Technology (MIT).

An Action-Packed Agenda

Over its six-day duration, GITEX GLOBAL will launch various industry-defining programs, including GITEX Editions, an exclusive platform for late-stage advanced tech companies, and a hub for unicorns, soonicorns, and rhinos. This year, 59 top global unicorns, including Axelera, DeepL, Insilico Medicine, and Synthesis AI, will participate. The World Future Economy Digital Leaders Summit will feature global innovators and leaders addressing critical technology priorities. GITEX Cyber Valley, hosted by the UAE Cyber Security Council, will be the most anticipated cybersecurity showcase, featuring discussions on the risks of global cybercrime, which is projected to cause $10.5 trillion in damages annually by 2025.

Leo Chen, Corporate Senior Vice President & President of Enterprise Sales at Huawei, emphasized the opportunities for the industry at the event, stating, “GITEX GLOBAL provides a unique platform for engaging in meaningful dialogues about trends and perspectives in industrial intelligence.”

Dubai Harbour will host the event from October 13-16, organized by DWTC and the Dubai Chamber of Digital Economy. With over 6,500 exhibiting companies, 1,800 startups, and 1,200 investors from more than 180 countries participating across 38 halls, these blockbuster events will strategically position the UAE as a leader in AI-driven technologies.

Trixie LohMirmand, Executive Vice President of DWTC, the organizer of GITEX GLOBAL and Expand North Star, remarked, “At GITEX GLOBAL in Dubai, we will conclude the year with significant initiatives from our tech community, focusing on global collaborations and intensive engagements. These efforts aim to forge competitive advantages in the race for regional and international digital supremacy. With international participation increasing by nearly 40 percent, it reflects the ambitions of emerging digital nations confidently navigating the future global AI economy through GITEX. As the world’s most global tech event brand, we are committed to strategically advancing the next generation of AI-driven technologies through startups, scale-ups, and unicorns.”

Additionally, DXB News Network is proud to be the official media partner for GITEX GLOBAL 2024, bringing the latest updates and insights from this monumental event.

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