The UAE’s investment in AI is paying off; the country is now ranked among the top 10 countries in the world for AI readiness. 

The country’s investment in AI is driven by a number of factors, including its vision to become a global leader in the Fourth Industrial Revolution, its commitment to economic diversification, and AI’s potential to solve some of the world’s most pressing challenges.

To accelerate the emirate’s shift towards a future economy, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has announced a global AI competition with a prize pool of $272,290.

The Global Prompt Engineering Championship, to be held in May at Dubai’s Museum of the Future, will challenge programmers to develop innovative solutions using generative AI, a cutting-edge technology that enables machines to create realistic and creative text, images, and code.

On the first day of the two-day competition, the top 30 prompt engineers will be selected to participate in the final phase. They will then be divided into five groups, each competing in categories of literature, art, and coding.

Completed projects will be evaluated by a specialized committee factoring in speed, quality, and accuracy. The winners will be announced on the second day of the competition, with the top prize going to the most innovative and impactful solution.

“The Global Prompt Engineering Championship is aligned with Dubai’s efforts to become a destination for leading talent and a platform for generative AI start-ups,” said Sheikh Hamdan.

“The competition is launched in line with our leadership’s directives to develop generative AI solutions and unlock the potential of this futuristic sector.

The UAE is focused on developing and deploying AI solutions across various sectors, including healthcare, education, transportation, and finance.

The country’s goal of becoming a global leader in AI by 2031 is backed by significant investments, such as the government’s $27 billion AI strategy launched in 2020, which aims to create a world-class AI ecosystem in the country.

The UAE is also home to a number of leading AI companies, including G42, Majid Al Futtaim, and Etisalat. These companies are developing and deploying AI solutions to real-world problems in the UAE and beyond.