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Blockchain technology market expected to reach $20 billion by end of 2024
Technological transformation continues to reshape the global economy
CIOs across the Middle East come under tremendous pressure to keep pace with changing and evolving customer demand
Dubai: The UAE is expected to record the fastest growth in the Artificial Intelligence (AI) technology adoption with the annual growth in the contribution of AI projected to be in the 20-34% range across the GCC region.
AI is going to be a big game changer in the global economy. A study estimates that AI could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined.
On the other hand, blockchain technology market is expected to reach $20 billion by end of 2024, growing at 58.7% annually. The adoption of technology in the UAE is likely to boost the regional market in the coming years.
Emerging technologies such as AI, blockchain and digital transformation along with the various technology issues and challenges will be discussed at a high profile technology conference in Dubai later this month.
CIOMajlis, which will host its third annual conference on September 25, 2019 in Caesars Forum at Caesars Bluewaters Dubai, will also discuss other technology trends under the theme Power of Possibilities – Focus on the Future.
CIOMajlis is hosting the annual conference under the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airports, President of the Dubai Civil Aviation Authority, Chairman and CEO of Emirates Group.
A series of presentations will also be hosted by key government officials and industry leaders to talk about the digitally enabled environment for Expo 2020, the deployable technology and innovative solutions in Abu Dhabi Special Olympics 2019, and the key initiatives spurring the cashless revolution in the UAE, as it is among a group of countries where the respective governments have taken strong leadership in promoting electronic payments to support their social and economic goals.
“CIOMajlis conference will give the opportunity to its members, who are coming from leading organizations in the UAE, to explore the latest innovation technology insights and trends shaping the future of IT & Business and also to network in a friendly and relaxed atmosphere,” said Ahmad Almulla, Chairman of CIOMajlis.
Established in 2016 by Smartworld, a joint venture between Dubai South and Etisalat, CIOMajlis functions as a thought leadership and networking hub for senior technology executives to swap industry knowledge, explore business solutions and share experiences. His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE’s Vice-President and Prime Minister and Ruler of Dubai, launched the national innovation strategy with the goal of making the UAE the world’s most innovative country by 2021 and CIOMajlis aims to contribute to realizing this vision.
“We created the CIOMajlis to be a platform for innovation and knowledge sharing for both; the public and private CIOs in the UAE. We want to provide them with a learning experience in an informal way, and bring best practices in using new technologies for business enablement and digital transformation. I believe we have managed to establish a good community of practice that all members are looking forward to the monthly gatherings, annual innovation tour and the annual conference,” said Dr. Saeed Al Dhaheri, Chairman of Smartworld.
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