Web Summit: Artificial Intelligence is on its way to dominate the Middle East markets
Teller ReportFeb 27
Web Summit Kicks Off in Qatar, AI Takes Center Stage
The Facts
Web Summit, one of the world's largest tech conferences, kicked off in Doha, Qatar, on Monday. The four-day event is expected to bring together more than 1.1K startups from 80 countries.
Being held in the Middle East for the first time, this year's Web Summit will likely attract entrepreneurs, investors, and world leaders, and focus on artificial intelligence (AI), fintech, and clean technology, and commerce.
The Spin
Pro-establishment narrative
Artificial intelligence has taken the entire world by storm over the past year, and it's starting to shake up Middle Eastern markets completely. AI brings multiple economic and technological opportunities that can spur serious growth and innovation. The technology can be harnessed in many ways to streamline production, bring skills to workers, and reduce costs for firms. The future is here, and the Middle East has many reasons to be excited about the emergence of AI.
Technoskeptic narrative
While it's easy to get excited about the potential of AI and future innovation, it's also important to remember the human cost of rapid technological advancement and its impact on broader society. Artificial intelligence may benefit large corporations looking to reduce labor costs; however, if policies surrounding AI aren't thought out, it risks displacing thousands of workers and causing massive societal disruption.
Nerd narrative
There's a 43% chance that there will be a positive transition to a world with radically smarter-than-human artificial intelligence, according to the Metaculus prediction community.