Information Technology
GITEX Editions makes its debut to redefine global power tech domination
In one of the sessions, the of joined to discuss the importance of Merger and Acquisitions (M&A) and how AI companies are making their foundational models work smarter for enterprises.
The audience heard that the Middle East region is leading the way with digitalisation with more than 300 deals related to M&A completed in the first half of 2024 with half of those led by the UAE.
The staging of GITEX Editions aligns with Dubai's ambition to be the home of 30 startup unicorns by 2030 as the emirate continues to transform itself from a regional to a global entrepreneurship hub and support its digital ambitions. Today, Dubai is embarking on its journey with 40% of MENA's scaleups already based in the emirate .
To help nurture the growth of tomorrow's giants in the GCC region, was joined by in an insightful session that focused on the importance of collaboration.
Harrison Lung explained the importance of joining hands to forge stronger alliances. He said: "For us, it's more about a transformation towards a global technology company. In the areas of partnering, the idea is to develop a win-win proposition and solving the needs of customers."
With the region growing rapidly, Tanuja Randery said there is no better time than now for companies to enter the market and agrees collaboration is crucial. She said: "This region is so attractive in terms of the growth potential. I read a stat that showed that almost 70 per cent of businesses in the Middle East want to move most of their operations to the Cloud in two years' time and this could unlock USD $733 billion of economic value by 2033. To make Cloud make accessible, we need partners and alliances."
Funding is a key pillar to drive growth – both in the long and short-term but can be often challenging. , gave key advice on how startups should adopt a vertical growth strategy for the future.
He said: "There is a lot of money going into AI but most of that is going into a handful of companies which are dominating the market and this is impacting the growth of startups. As such, a lot of money is now going into vertical AI where the specialist area is only on one focus such as healthcare or hospitality and this is centred around this business model and adding AI on top of this."
In another session, and took part in a broader discussion on the AI EU Act and its global implications for the next generation of AI-driven unicorns.
Taking place at Dubai World Trade Centre (DWTC) until 18 October, GITEX GLOBAL presents its biggest, most international edition in its 44 year, welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.
GITEX GLOBAL is seamlessly connecting the world's largest network of tech events. Today, major events such as GITEX EUROPE Berlin , GITEX ASIA Singapore , GITEX AFRICA Morocco , and GITEX NIGERIA are under its umbrella with all fostering collaboration and driving innovation to shape the tech landscape of tomorrow.
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