Dubai: Technology-focused new media company Step held its 12th annual conference and exhibition in Dubai last week, bringing together around 350 startups, 150 venture capital firms and more than 8,000 attendees. collected.
Ray Dargham, co-founder and CEO of Step, said at the opening ceremony that the business has already expanded to include conferences in Saudi Arabia and will now expand globally through a partner hosting model. He said that was the plan.
Six trucks were featured at the event in Dubai. “Start” covers startups, growth, and venture capital. Fintech covers e-commerce. Specializing in digital, media, adtech, and creators. Wellness covering health, lifestyle and femtech. For the planet, green technology and sustainability. Artificial intelligence covering machine learning, data, and automation.
The newly added AI track featured topics such as large-scale language models, advanced neural nets, and co-pilot systems, and was discussed by industry experts such as Brittany McDonough from the Abu Dhabi Investment Office. Maitha Alsuwaidi, Chief Operating Officer, Microsoft UAE; Ahmad Elsayed of Google Cloud. and Mehdi-Ghissassi, head of product at Google Deepmind.
Although AI has been around for a while, “it didn’t really reach critical mass until about a year ago,” Durgham told Arab News. “For a long time, AGI, or artificial general intelligence, was largely confined to the laboratory.”
More recently, ChatGPT has played a key role in bringing AI to a mass audience, allowing everyone to “experience the power behind the technology,” he added.
The AI sessions at Step Conference cover several topics, including regulatory frameworks and deep learning, and will “provide startups with valuable insight into the ethical, regulatory, and technological advances in AI; We aim to help startups navigate and leverage dynamic strategies in the rapidly changing landscape of AI-driven innovation. ”
Durgum said the company is adapting to become an “AI conference” because “most of what we think of as ‘technology’ today will be AI-enabled or AI-enabled in the next few years. “It’s going to be something that incorporates components.”
All other tracks during the step event will be heavily influenced by the development and use of AI, so Durgum believes the technology is “going to be bigger than the software and the internet itself.” So, theoretically speaking, our conference would not be a technology conference, but an AI conference. ”
While much of the innovation and development in AI is global, Stepp in particular is “noticing a significant shift toward increased interest in and adoption of AI technologies generated in the Middle East region,” Durgham said. .
As evidence, he cited the UAE’s AI strategy, which aims to put the country at the forefront of technological innovation by 2031, and the national data and AI agenda, which aims to position Saudi Arabia as a world leader. . A data-driven economy will enable us to harness the power of AI for economic and social development.
The region is already attracting significant international attention and investment related to AI. For example, OpenAI CEO Sam Altman has pledged an estimated $5 trillion to $7 trillion for technology initiatives to strengthen its international chip manufacturing capabilities and expand its business. It is reportedly in talks with investors, including from the UAE, to raise funds. Among other things, the ability to enhance AI.
Saudi Arabia and the UAE are “leading a wave of breakthrough AI investments, with groups like[AI developer]G42 leading the way,” Durgham said.
“Adoption rates are skyrocketing in every sector, from healthcare to finance, highlighting a strategic shift towards AI-driven innovation,” he added, but it’s “not just a matter of numbers.” .
“It’s about crafting a story of ambition and progress that reshapes the region’s technology landscape.”
Each country’s national strategy and its investments encourage interest from private entities that are “increasing investment in AI research and development, with a particular focus on generative AI,” including “advanced algorithms, models, and “This includes efforts to pioneer efforts to customize applications to ‘address local needs and challenges,'” Durgum said.
AI innovation is particularly evident in the startup world, where companies are “exploring diverse applications of generative AI in areas such as natural language processing, computer vision, and creative AI.”
Advances in AI are not without challenges, as global concerns about data privacy and security grow.
“Ensuring the protection of sensitive information and compliance with data protection regulations is essential to instill trust and confidence in GenAI technology among stakeholders,” said Dargham.
He added that a “major hurdle” is the lack of skilled AI experts.
“Without the right talent pool with the necessary expertise, organizations will struggle to effectively implement GenAI solutions,” resulting in “the need for urgent investment in AI education and training programs.” he said.
The rapid development of AI also comes with ethical considerations.
“The ethical implications of GenAI, from deepfakes to misinformation, require strong guidelines and frameworks for responsible use,” Durgum said.
Step is committed to playing a role in this space through sessions aimed at addressing the ethics, safety and social impact of AI, he added. He is also seeking collaboration with governments and international organizations to “develop policies that foster innovation while addressing concerns about data privacy, bias, transparency, and accountability.”
Regulation is important, but Durgum warned against over-regulation.
“Collaboration with policymakers, industry leaders, and ethics experts is essential to establishing clear guidelines that foster the ethical adoption of GenAI technology and promote trust and accountability within the ecosystem.” he said.
Both Saudi Arabia and the UAE have made “significant progress in building AI governance and ethics frameworks,” with national strategies and programs “aimed at advancing AI technology while addressing related regulatory concerns.” We have achieved this,” Durgum added.
“I think regulation of AI is important, but I’m also concerned about over-regulation around the world. The EU tends to over-regulate.”