Reflecting upon the Shiekh's recent trip to the US and meeting with several key leaders, both in the business and the political realm. The similarities between the railroads that the US was built upon and the current state of technology in the middle east.
It's clear that the advent and popularisation of the railroad network in America was one of the salient factors in its astronomical rise to a global superpower. It's often said that the hub of the whole railroad network was Grand Central. Reflecting upon the same in 2024, it seems as though, in many ways, UAE's investment into AI and the broader use cases not only in the digital world, but the physical one as well, positions it as the Grand Central of today's tech world, not only in the middle east, but probably in the wider MENA region as well (possibly outside of the UK).
I've been fortunate to attend several talks from G42, one of the pioneers in the industry. Though I don't think it would be appropriate for me to share all details regarding the same, I think it's safe to say that I have seen several aspects of the advancements related to the above that make me more and more confident about making the sort of statements I did.
I don't think I'm necessarily also only saying this because I am based in the region. Silicon Valley has been a historic hotbed for this kind of innovation. Being 24 I have only seen Silicon Valley as the behemoth in the tech ecosystem that it is now. Having said this, I have also been lucky to learn from several senior bankers at Nomura who saw the rise first hand. Through this primary accounts, as well as of course my secondary research on the matter, I am seeing many signs in the UAE that were evident in Silicon Valley ~25-30 years ago.
UAE has also done a good job in terms of understanding that the capital available through the rich oil, though vast, is not limitless There has clearly been a trend in terms of leaders in the UAE investing in alternate assets, including clean energy, media and sports, and of course, advanced and deep tech. This positions UAE as one of the sleeping giants when it comes to the next iteration at tech growth.