(MENAFN) The Chief Executive of the Dubai Future Foundation, Khalfan Belhoul, has issued a compelling call for a unified effort in advancing generative artificial intelligence (AI) to its fullest potential and harnessing the accompanying economic benefits. Speaking at the Dubai Assembly for Generative AI conference, Belhoul stressed the imperative need for nations to collaborate in preparing their societies for the innovative strides in AI and bridging the gap between policy frameworks and the rapid progress of this emerging technology, which boasts a staggering estimated business opportunity of up to $4.4 trillion.
According to the Dubai Future Foundation, sectors with the highest AI potential encompass banking, software and platforms, energy, communications and media, and healthcare. Recognizing the transformative impact AI can have across these industries, Belhoul emphasized that the collective endeavor should engage a spectrum of stakeholders in society, ranging from policymakers to the private sector, entrepreneurs, and even students.
This clarion call for global cooperation signifies Dubai's commitment to spearheading the development of generative AI on an international scale, seeking to leverage its transformative capabilities and foster an environment that nurtures innovation, economic growth, and societal progress.
"Regulation is extremely important. We need to understand how can we regulate something as big as generative AI. But we need to get started now and look at the challenges [and] understand the risks," he stated.
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