The Middle East Region is Preparing for a Future Tech Ecosystem

Tech leaders in the Middle East are eager to adopt emerging technologies such as Generative AI, Web3 and blockchain

Reading Time: 3 min 


  • Venkat Reddy/MIT Sloan Management Review Middle East

    The Middle East stands at a critical moment. Technological advancement is accelerating rapidly, from significant breakthroughs in artificial intelligence (AI), machine learning (ML), and natural language processing to powerful enhancements of mixed realities.

    Ultimately, these technical breakthroughs are not just about technology; they represent the actual impact on businesses, governments, people, communities, and societies — from the health and safety of people to economic growth.

    Technology is impacting every aspect of our world. It is accelerating everything by empowering individuals and businesses with capabilities once thought impossible to automate.

    In the Middle East, every industry is riding the innovation wave; emerging technologies such as AI, blockchain, metaverse, Web3, and digital twin are opening new frontiers of possibilities, rattling the economy on all fronts.

    So what’s next? Bigger changes are surely coming. Clearly, we need to adjust for the turbulence ahead.

    The game is to build business models that make products and services simpler and more economical, cities smarter, education better, and greater government efficiency by harnessing AI.

    MIT Sloan Management Review Middle East’s NextTech Summit is the premier event bringing together top business and tech leaders worldwide and leading faculty from top universities, including MIT and Carnegie Mellon University.

    The summit has an engaging agenda that will dig out the best advice and case studies on how technology has dawned a new paradigm to drive better outcomes from business leaders and policymakers. Integrating advanced technologies makes our lives interconnected, intelligent, and optimized.

    The summit will unwrap the technologies and trends driving social and business impact and offer trustworthy guidance needed to navigate the ever-changing landscape of a region driven by technology.

    With over ten panels, the summit will cover the role of digital twins in smart cities and responsible AI, how Web3 is transforming business, and the risks and benefits of adopting digital currencies. The bold thinkers and leaders will separate the impactful from the inconsequential and contemplate how best to build the future.

    One of the biggest tech-leadership gatherings in the MENA region, the inaugural edition of the summit will explore the latest ideas and concepts that are disrupting the future of business and technology, the transformative journey toward a world where smart technologies, like AI, converge to enhance our capabilities and elevate our potential.

    With more than 400 global industry leaders and key decision-makers coming together, the summit is an opportunity for all to learn, network, and stay connected to the business and tech community.

    Some of the stellar speakers at the summit are Lake Dai, Adjunct Professor, Applied AI, Carnegie Mellon University; Munther Dahleh Professor at the Massachusetts Institute of Technology;
    Dr. Christina Yan Zhang, CEO and founder of The Metaverse Institute; Paola Pisano, Professor of Innovation & Disruptive Technology at the University of Turin and former minister of Technological Innovation & Digitization of Italy; Calum Chace, author and futurist; HE Younus Al Nasser, CEO of Dubai Data & Statistics Establishment, Digital Dubai; Ahmed Abdelaal, Group CEO of Mashreq Bank; Dr. Alex Aliper, co-founder and president, Insilico Medicine; Deepa Raja Carbon, MD & Vice Chairperson of Virtual Assets Regulatory Authority in the UAE; Dr. Marwan Alzarouni, CEO of Dubai Blockchain Center; Elias Baltassis, Partner & Vice President of Boston Consulting Group, UAE; Dr. Hamid Haqparwar, MD, BMW Group Middle East; Peter Smith, MD, Head of Policy and Strategy at Dubai Financial Services Authority, and Dr. Ray O. Johnson, CEO of Technology Innovation Institute, among many others.

    Key to the upturn in economic development in the Middle East is the willingness to test and trial technological innovation.

    A key driver for digital transformation efforts in many countries is the need to pivot from reliance on petrochemical industries to create a more knowledge-based economy. Technology has been crucial in driving the economy forward in numerous ways, pivoting its focus to healthtech, edtech, big data, and AI.

    We see the use of AI everywhere, from recommending items to constructing better environment models to automating industries. PWC estimates that the Middle East is expected to accrue 2% of the total global benefits of AI in 2030. This is equivalent to $320 billion.

    The most significant gain Saudi Arabia will make where AI is expected to contribute over $135 billion in 2030 to the economy.

    The UAE, Saudi Arabia, and Qatar have strongly committed to developing and implementing AI technologies. Businesses in these parts of the region have been investing heavily in new technology, supported by governments as early consumers.

    The NextTech Summit will delve into the future of technology, and its profound impact on enterprise growth, human efficiency, governance, and decision-making. It will explore the most thrilling tech evolutions, such as Generative AI and leveraging emerging technologies for enhancing customer engagement, to how AI poses multivarious ethical challenges and risks.

    The annual event will offer thought-provoking discourse on the future of technology and best practices and include presentations, panels, and networking

    The summit, which will take place on 20 September at The Ritz-Carlton, Dubai, is presented by the Technology Innovation Institute; the strategic government partner is Digital Dubai, the strategic sponsor is G42, and the gold sponsor is Boston Consulting Group.

    Registration is open here until September 14, 2023, and seats are limited. Reserve your place today, or email for more details.


    More Like This

    You must to post a comment.

    First time here? : Comment on articles and get access to many more articles.