The second Global Prompt Engineering Championship is under way in Dubai, bringing together top talent from around the world to compete for a Dh1 million ($272,290) prize pool.
Organised by the Dubai Future Foundation and the Dubai Centre for Artificial Intelligence, the event is taking place on the sidelines of Dubai AI Week – a major platform showcasing the UAE’s growing influence in AI.
This year’s championship has drawn participants from the UAE, Saudi Arabia, Iraq, Syria, Palestine, Brazil, South Africa, Jordan, Egypt, Kuwait, Russia, Pakistan and India. The two-day competition, which began on Tuesday, highlights the global rise of prompt engineering – a skillset focused on crafting effective instructions for AI systems to generate precise, creative and context-aware outputs.
In addition to the coding, literature and art categories from the inaugural competition, this year introduced a new video category, reflecting the increasing role of generative AI in multimedia content creation.
“Choosing video was an interesting one given how revolutionary AI has been with video generation over the past year,” Hamad Al Shirawi, director of Dubai AI Week, told The National.
He said it was inspiring to observe how participants handled the pressure of the competition. “It’s really nice to be around them and see how each one of them is actually putting in their prompts in a very limited time, [it is] very stressful, being evaluated by these judges, actually producing meaningful outcomes – not just something that you and I can do quickly using one of the platforms,” he added.
“The championship is one of the activities that really looks at talent. It focuses on enabling the ecosystem and amplifying the opportunity. This only elevates, puts Dubai on the map and solidifies our position, but also attracts all these global names."
Sufyan Al Hussein, a filmmaker competing in the art category, said the first round tested participants with an unexpected creative challenge.
“It was about creating an illusion and limiting us to only three colours – red, green and black. It was challenging, to be honest, but we tried to make it as artistic as possible,” he told The National.
“I do use AI sometimes, for example, when I want to generate my mood boards, my storyboards,” he said, adding that his knowledge of art history, from Rococo to De Stijl, helped to guide his approach.
He said the registration process was simple and accessible. “You sign up, you do a test, or I would say like a challenge, you submit it and then you wait,” he said.
As he awaited the results of the second round, he remained hopeful. “I think the second prompt will be easier because there is nothing harder than this. It was very hard, but I think we’re doing amazing,” he said.
“I never thought of like winning the money itself. Maybe I want to feed my ego ... but I would reinvest it maybe also in some sort of AI service.”
The championship is one of several anchor events during Dubai AI Week, an event that brings together government leaders, tech executives, researchers and creators to explore the future of AI.
"This week is a culmination of our efforts ... bringing all of these events together gives more of a purpose, more of a well-rounded opportunity for people both based in Dubai and abroad to focus and capitalise on this week,” Mr Al Shirawi said.
Other events taking place include the AI Retreat, the Dubai Assembly for Generative AI, the Dubai AI Festival and the Machines Can See summit. The week also features a school programme to engage 50 institutions across the UAE in AI-focused activities.
The UAE, ranked among the top five countries globally for AI competitiveness, continues to build on its 2017 national AI strategy by investing in talent and creating platforms that encourage collaboration and innovation. The Global Prompt Engineering Championship exemplifies that mission – merging creativity, competition and cutting-edge technology to shape the next generation of AI leaders.
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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UAE squad to face Ireland
Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind
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Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
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NINE WINLESS GAMES
Arsenal 2-2 Crystal Palace (Oct 27, PL)
Liverpool 5-5 Arsenal (Oct 30, EFL)
Arsenal 1-1 Wolves (Nov 02, PL)
Vitoria Guimaraes 1-1 Arsenal (Nov 6, Europa)
Leicester 2-0 Arsenal (Nov 9, PL)
Arsenal 2-2 Southampton (Nov 23, PL)
Arsenal 1-2 Eintracht Frankfurt (Nov 28, Europa)
Norwich 2-2 Arsenal (Dec 01, PL)
Arsenal 1-2 Brighton (Dec 05, PL)
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5