Gitex 2024: UAE attracts the most AI talent after the US, says Minister of Economy
Al Marri expressed his desire for the UAE to become a global R&D hub at Gitex Global 2024
Dubai: The UAE isn’t just pulling in foreign capital to fuel its artificial intelligence ambitions—it is cultivating homegrown talent to sustain the sector’s growth. “The UAE ranks second only to the US in attracting top AI talent, with many of these experts now calling the UAE home,” said Abdulla bin Touq Al Marri, the country’s Minister of Economy, on Monday's opening day of Gitex Global.
The Minister stated that the UAE is doubling down on AI education, with a sharp focus on youth development. The government has ramped up investment in STEM programs and launched camps for students, aiming to equip the next generation with skills to drive UAE’sthe AI ambitions forward.
Research and development (R&D) is also high on the agenda. Al Marri underscored the UAE’s aspiration to become a global research and development hub, attracting international talent and innovation centres. “We want the world to look at the UAE as an R&D hub, not just for our 10 million people, but for the 300 million across the region. The UAE has always been a gateway for the region,” he said. With a target of 7 per cent growth, which will allow the country to double the size of its economy, the UAE’s sandbox-style regulation model and dynamic regulatory approach could offer significant benefits.
Data centres, energy requirements
The UAE is rapidly becoming a magnet for data centre investments, drawing in tech giants like Microsoft and Cisco. These projects are essential to meeting the massive computational demands of generative AI and other advanced technologies.
“The partnership (with Microsoft) isn’t new. We’ve been collaborating with them for years, and a lot has come from AI and data centres,” he added.
Al Marri said that energy availability is central to the expansion of this industry. “We have a nuclear power plant in full operation and are seeing more solar energy added to the grid. Clean energy now forms about 30 per cent of our energy mix, making the UAE an attractive destination for data centre investments,” he said.
Al-Marri also pointed to the significant economic ripple effect generated by data centres, explaining that every dollar invested could yield up to ten dollars in economic value.
Non-oil diversification
According to the Minister, UAE’s forward-thinking approach is crucial for diversifying away from an oil-based economy. “We’ve already achieved 74 per cent non-oil contribution to our economy, breaking a historic record, with a target of 80 per cent, and ultimately 85 per cent, by 2030. Reaching 74 per cent itself is a milestone, as we’ve historically hovered around 68-69 per cent,” said Al Marri.
Moreover, the Minister stated that the UAE has also seen remarkable growth in business activity. “In 2021, we had about 500,000 to 600,000 active and non-active licenses, and today we’re at 1.4 million,” he said.
Key sectors like aviation, financial services, hospitality, and tourism are substantially growing. “But what excites me most is the rise of new economies. I’m not talking about future trends—we’re seeing these new economies emerging now. The UAE is a hub for innovation, particularly in AI and other transformative industries,” said the Minister.
“Historically, the UAE has been known for real estate and traditional industries, but now we are creating a platform for global innovation. Our regulatory environment is agile, and we’re open to collaboration,” he added.
CEPAs boost diversification
According to the Minister, signing Comprehensive Economic Partnership Agreements (CEPAs) has been vital to non-oil growth. “The CEPA’s we are signing — 14 already finalized, and 36 targeted — we’re opening new markets. These CEPAs aren’t just about the trade of goods; they cover services too,” he explained.
“Within the Ministry, we’ve also prioritized intellectual property (IP) protection — trademark, copyright, and patents — because these are vital for fostering innovation and protecting technology. We’ve updated laws, introduced fast tracks for IP and copyright, and are ensuring businesses have open markets and strong legal protections for their ideas and technologies. I’m invested in ensuring this convergence happens smoothly,” said Al Marri.