Strategic recommendations for four technology-focused actions to stimulate economic diversification have been proposed by the conference.
The 6th Virtual Gulf Conference on Innovation, Entrepreneurship, and Artificial Intelligence concluded on Tuesday, with four key recommendations announced by Chair Dr. Hanadi Al-Mubaraki. These strategic proposals are designed to propel economic diversification through technology and innovation.
The conference, held under the patronage of Abdulrahman Al-Mutairi, Minister of Information and Culture, and Minister of State for Youth Affairs, attracted over 100 distinguished participants, including ministers, sheikhs, diplomats, innovators, entrepreneurs, researchers, and experts from assorted sectors.
Dr. Al-Mubaraki underscored the conference's significance and emphasized four core recommendations that address critical themes:
- Encouraging Collaboration and Investment: Proposing long-term investment in innovation and technology, establishing an Arab investment fund, creating a Gulf Center for Institutional Innovation and Technology Entrepreneurship, and strengthening public-private-academic partnerships to boost regional innovation.
- Accelerating Digital Transformation and AI Adoption: Supporting the development of robust digital infrastructure, promoting Arabic-language AI algorithms, backing startups and SMEs in the AI sector, and designing regulatory policies that ensure data protection and privacy.
- Advancing Key Sectors through Technology: Bolstering the integration of AI, cloud computing, and smart technologies in healthcare, education, and the financial sector, developing innovative financial technology tools, and promoting regional digital integration for cohesive tech-driven economic frameworks.
- Investing in Smart Cities and Clean Energy: Expanding infrastructure for smart cities, driving renewable energy technology innovation, encouraging sustainable digital marketing practices, and fostering community awareness of environmental sustainability.
These recommendations reflect a cohesive regional vision to leverage technology and innovation for building resilient, future-ready economies capable of addressing global challenges effectively. The recommendations also delve into fostering partnerships, adopting a strategic approach to AI integration, investing in in-house AI infrastructure, and leveraging emerging AI innovations, as suggested by relevant enrichment data.
The objective of these proposals is to accelerate economic diversification in the Gulf through the transformative potential of artificial intelligence and strengthening the ecosystem of innovation and entrepreneurship.
- The Arab investment fund proposed in the recommendations is intended to support business and finance by long-term investing in technology-driven innovation.
- In an effort to advance sectors such as healthcare, education, and finance, the integration of technology like AI, cloud computing, and smart technologies into these industries is recommended.
