Artificial intelligence (AI) may still be viewed as an overused term in various regions, yet industry experts assert that the UAE is taking significant strides in developing solutions both for the region and globally.
During the Dubai AI Week held on Monday, a startup founder noted that Dubai and the UAE are among the select locations attracting businesses looking to relocate due to ongoing geopolitical tensions worldwide. The current trade disputes involving the US, China, and other nations have incited global policy and tax uncertainties. The UAE benefits from its designation as a tax haven, as it imposes no income tax.
“Dubai has consistently been a frontrunner in AI initiatives. The UAE established a Ministry of AI ahead of other nations, reflecting its forward-thinking mindset regarding the future of this region,” the founder remarked.
“As we evolve, I’ve observed a shift in the UAE ecosystem from merely focusing on theoretical concepts to implementing tangible business applications that will have a substantial impact. Certain parts of the world still regard AI as a buzzword, but in the UAE, it’s integrated into real business strategies, and that’s the environment we aim to be a part of,” said Akshat Prakash, CTO and co-founder of Camb.ai, during a panel discussion at the event.
Prakash emphasized that the UAE represents a unique blend of Eastern and Western influences, making it an attractive destination for business growth. “In today’s political climate, very few locations are ideal for relocating and establishing a new company. Frankly, among Asia, Europe, Africa, and other regions, Dubai distinctly stands out for drawing talent. Our team faced no objections when we decided to move here. The cultural and geographical advantages strongly position Dubai as a leading hub for AI,” he explained at the panel.
Nuha Hashem, co-founder of CozmoX AI, reflected on the technological landscape during the dotcom boom, pointing out that there were significant hurdles in technology adoption within the region.
“Today’s technology firms here began creating AI solutions even before it became a trending topic. They are not only addressing local needs but are also catering to a global audience. We are witnessing a reduction in the technological gap, and Dubai is fostering the right atmosphere to attract talent and enable the development of AI solutions directly from this region,” she stated during the discussion titled “Fueling the Future: Investing in AI Startups within Dubai’s Ecosystem.”