Dubai Assembly for Generative AI to be held in October

The two-day event will focus on sectors including health, education, financial and banking services, software development, media, advertising, and entertainment

Organised by the Dubai Future Foundation, the Dubai Assembly for Generative AI will take place at the Museum of the Future and Area 2071 at Emirates Towers. Antonie Robertson / The National

Dubai Assembly for Generative AI, which aims to shape the future of artificial intelligence and introduce governments and societies to the opportunities provided by it, will take place on October 11 and 12, the Dubai Government Media Office has said.

The two-day event will highlight areas and sectors where AI can be used to advance progress and improve quality of life.

It seeks to “develop an inclusive vision for the future of generative AI, encompassing its forthcoming advancements and the promising opportunities it offers”, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said on Tuesday.

“Governments will experience profound changes due to technological advancements, particularly in the realm of AI. The rapid pace of these transformations necessitates a profound understanding and forward-thinking approach for shaping the future and converting challenges into new opportunities,” said Sheikh Hamdan, who is also the chairman of the board of trustees of Dubai Future Foundation.

Dubai is accelerating its efforts to harness generative AI. Last month, Sheikh Hamdan launched the Dubai Centre for Artificial Intelligence at the Emirates Towers.

The new centre in Area 2071 will train 1,000 government employees from more than 30 government bodies on the uses of generative AI – a technology that can create data such as images, videos, audio, text and 3D models.

It also aims to create dozens of pilot projects and improve government services, as well as increase productivity of government employees and support more than 20 domestic and global advanced technology start-ups.

Generative AI could add nearly $4.4 trillion annually to the global economy and will transform productivity across sectors with continued investment in the technology, according to a new study by consultancy McKinsey.

It has “enormous” economic potential and could raise global labour productivity growth by more than one percentage point per year in the next decade, Goldman Sachs said in a report last week.

In the long term, AI-related investment could reach 4 per cent of gross domestic product in the US and 2.5 per cent of GDP in other AI-leading countries in the next 10 years, it said.

In the short term, AI investment could grow quickly in the next couple of years, approaching $100 billion in the US and $200 billion globally by 2025, the report added.

Organised by the Dubai Future Foundation, the Dubai Assembly for Generative AI will take place at the Museum of the Future and Area 2071 at Emirates Towers.

It will bring together ministers, government officials, senior executives, experts from large technology companies, entrepreneurs, policymakers, investors, academics and tech start-ups, the media office said.

Sessions at the assembly will focus on various sectors, such as health, education, financial and banking services, software development, media, advertising, music and entertainment. It will also examine the challenges resulting from the use of generative AI.