Reflecting on Web Summit Qatar 2024 with Adam Bozsoki

At the Summit, I primarily engaged in conversations and attended a few discussions. I noticed significant attention to AI and robotics. The discussions centered on the pros and cons of AI, highlighting its limitations and the opportunities it presents for businesses.

A major topic was AI’s role in business automation, a transformative factor for business operations, communication, and future job landscapes in light of the AI boom. The strategic shift towards AI and automation is not new but is gaining momentum with significant investments. Companies are increasingly using AI technologies for cost efficiency and improved communication, which, as I can see, will be the biggest trend of the decade.

Another key theme was FinTech, with a dedicated stage discussing its evolution and future impact. While I was less involved in these discussions, they were undeniably central to the Summit.

Marketing and digital content creation were also prominent, with numerous exhibitors offering related solutions. Additionally, security concerns in social media were a significant issue.

I observed a significant focus on startups from the Middle East and Africa, notably in Qatar. This interest is largely fueled by government initiatives to attract, select, and sponsor these startups. The Qatar Foundation and Invest Qatar, both governmental organizations, are investing substantial funds into this initiative, ensuring the attraction of the right companies to integrate into Qatar’s economy.

These programs offer millions of dollars to support individual startups. The conditions vary: some startups need to register within the region, while others can receive funding under the stipulation that they establish their business in Qatar. This strategy aims to inject capital and eventually gain a stake in these companies as they grow and integrate into the local economy.

The focus on the Middle East, particularly on substantial and emergent startups, should not go unnoticed. With these investments, startups are likely to seek external partnerships and services, presenting potential opportunities for outsourcing, which could be advantageous for businesses.

This opportunity represents a viable avenue for business engagement and growth.

I particularly noted the concern over security issues in the context of tech evolution. Interestingly, there’s a movement among companies toward retaining digital transformation projects in-house as a strategy to safeguard sensitive information. In this context, tech companies encounter both challenges and opportunities: those that prioritize and enhance their security measures will be among the leaders in fostering trust and building long-term partnerships.

As the market evolves, companies must showcase how they adapt to these changes and how many in-house teams are equipped to handle all aspects of digital security.

The standout aspect of the Summit was undoubtedly AI, which underlines the need for us to further integrate it within our services and strategies. This focus on AI, a major point of interest for many, means that we, as a company, enhance our offerings and solutions in this domain.

Moreover, understanding the tasks or services that AI could automate — traditionally performed by people or companies — is critical. We must stay ahead by adapting to these changes, ensuring we remain relevant and capable of meeting future demands.

Last but not least, the importance of security has been underscored as a vital component. Addressing these concerns is vital for maintaining and expanding our client base, especially when digital threats are evolving rapidly.

We thank Adam for sharing his valuable insights.

Moving through 2024, we see a horizon filled with vast opportunities. We look forward to exploring these possibilities and deepening our commitment to growth and progress.