Sharjah Investment Forum set for September focusing on AI systems

Gulf Today, Staff Reporter

The Sharjah Investment Forum (SIF) will hold its seventh edition on Sept.18-19  under the theme “A Futuristic Vision for Smart Economies.”

Organised by the Sharjah FDI Office (Invest in Sharjah), the forum will explore the role of investments and capital in directing Artificial Intelligence (AI)  systems to support global growth and enhance efficiency, flexibility, and inclusiveness across various sectors.

The event is set to take place at the Jawaher Reception and Convention Centre and will convene decision-makers, investment and economic experts, and business leaders from the region and worldwide.

Invest in Sharjah noted that the theme and direction of this year’s forum reflect the UAE’s achievements in technology and digital infrastructure supported by the country’s annual investment in innovation of approximately $3 billion. According to the Interregional Centre for Strategic Analysis in Abu Dhabi, the UAE aims to increase the contribution of AI to its GDP to Dhs 352 billion by 2030, accounting for 14%, positioning the nation as an ideal destination for technology and AI investments.

At the global level, the McKinsey Global Institute estimates that AI could provide an additional $13 trillion in economic activity by 2030, equivalent to an annual GDP growth increase of 1.2% across various sectors.

The Sharjah Investment Forum aims to highlight the UAE’s exceptional investment opportunities in modern economic sectors, and leverage the country’s drive to integrate smart systems across industries such as manufacturing, agriculture, services, health, and education.

This is further supported by the UAE’s global ranking as one of the top destinations for new FDI, ranking second worldwide in 2023 with 1,323 projects. Notably, Sharjah has also advanced to the fifth fastest-growing city in attracting foreign direct investment in 2023. Additionally, Dubai ranked second, Abu Dhabi fifth, and Sharjah seventh in the Middle East and North Africa startup ecosystem, according to the 2024 Global Startup Ecosystem Report released by Startup Genome and the Global Entrepreneurship Network.

 Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, emphasised that the 7th edition of SIF will highlight the important role that investors, decision-makers, and sector leaders have in leveraging AI to transform traditional sectors into smart, efficient systems designed to tackle challenges effectively, drive growth, nurture talent, and achieve sustainable economic and social development. He also noted collaboration among all stakeholders will ultimately shape global economic trends and propel technological advancements, setting the trajectory for a future where the economy is a key driver of transformative change.

“AI is no longer a niche concern, but a critical component for businesses of all sizes. According to the McKinsey Global Institute, approximately 70% of companies will adopt at least one AI programme by 2030. This year’s forum will serve as a vital platform for participants from various business sectors to share and enhance their AI-related experiences and investment outcomes, and a space that will facilitate discussions on future ambitions in investment, economy, and development, united under a theme focused on prosperity,” Al Musharrkh stated.

Invest in Sharjah also announced that this year’s forum will feature a series of events designed to enhance skills and promote the use of AI technologies. The programme includes specialised workshops, panel discussions led by global economic leaders and government officials, as well as presentations by prominent entrepreneurs sharing their success stories. Additionally, there will be inspirational speeches to foster a culture of growth and innovation, guide start-up owners towards success, and enhance competitiveness.

Meanwhile, Hamad Ali Abdalla Al Mahmoud, Chairman of Sharjah Economic Development Department (SEDD), received a delegation from Huawei Technologies Co. headed by Wharton Huang, Head of Government and International Cloud.

The meeting aimed to enhance collaboration in modern technology following the visit of SEDD officials with the Sharjah Government delegation to Huawei in China.

Al Mahmoud stressed the importance of holding meetings to enhance cooperation for sharing experiences and institutional knowledge. The aim was to enhance customer services, discuss digital development methods, and create exceptional programmes and systems to strengthen the emirate’s position.

The meeting featured discussions on Huawei’s newest technological solutions and the advanced services offered by the Chinese delegation in constructing and managing cost-effective, high-performance data centres. Cloud solutions such as storage capabilities, supercomputing, networks, and online services were also examined.

Moreover, the meeting covered Huawei’s artificial intelligence services that enhance digital transformation, user experience, and offer proactive and innovative services. The company’s enterprise resource management systems, considered among the top global systems in this sector, were also addressed.

The meeting also addressed Internet of Things (IoT) technologies and their utilisation in arranging the sites of economic institutions to evolve Sharjah into an intelligent business hub.

SIF will serve as a platform to facilitate discussions on future ambitions in investment, economy, and development, united under a theme focused on prosperity, says Mohamed Al Musharrkh