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According to Dr Henry Loewendahl, Chief Executive Officer of Waveteq, AI-related foreign direct investment (FDI) has grown markedly — from about 6–7% of global FDI in 2023 to 12% in 2024, reaching 22% in 2025. He forecasted that worldwide investments in AI infrastructure will exceed $1.2 trillion by 2029, fuelled by increasing demand for data centres, semiconductor supply chains, and supporting energy and water infrastructure.
Dr Loewendahl noted that approximately 85% of global data-centre capital expenditure is currently focused on the United States (50%) and China (35%). In contrast, emerging regions such as Africa are only beginning to expand, with nearly 700 data-centre sites awaiting development across the continent.
Nauman Asif, Group CFO of bayt.com, shared how his HR-technology company, managing a global database of over 50 million job seekers, is deploying AI not only to improve efficiency but also to promote socially responsible outcomes. “We are redefining ROI,” he said. “It’s no longer just about financial returns but about the long-term sustainable impact of your investment.”
Asif emphasised that AI should empower, not replace, the workforce. He noted that environmental, social, and governance (ESG) principles are now firmly embedded in technology investment strategies. However, he cautioned that data privacy, bias prevention, and human oversight must remain vital safeguards to ensure responsible AI implementation.
Representing the West African Development Bank, Kofi Joseph highlighted the region’s potential and challenges in adopting AI. He noted that while local innovation is strong—citing examples such as Senegalese apps designed for fishing markets—West Africa still faces significant hurdles related to electricity shortages, data infrastructure, and policy readiness. He called on governments to promote domestically built AI systems aligned with local socio-economic priorities rather than relying solely on imported technologies.
Dr Loewendahl urged investment-promotion agencies (IPAs) to take a proactive stance. “You should not just wait and see. Start piloting AI in your operations—identify where it can add value and improve efficiency,” he said. He explained how Waveteq improved its internal research through AI integration, enabling rapid redevelopment of investment-promotion websites in days rather than months.
He emphasised that AI should act as an assistant to human professionals, not as a replacement. Asif agreed, stating: “AI is an enabler, but ethical guardrails must be in place, and the long-term vision cannot be lost.” Joseph summed up the approach with three key words: “Responsible use, legal compliance, ethical oversight.”
Dr Loewendahl also addressed the slowdown in clean-tech FDI, clarifying that it reflects geopolitical challenges—such as subsidy cuts in the US and restrictions on Chinese renewable investments in Europe—rather than reduced investor interest. In contrast, he said, AI is benefiting from the intersection of technological progress and global economic realignment.
Panellists concluded that artificial intelligence is no longer just a niche investment but a fundamental force shaping how capital moves, infrastructure develops, and global competitiveness is determined. For the Gulf and beyond, success will rely not only on deploying technology but also on aligning AI with sustainability, human-centred strategies, and institutional resilience.
The eighth edition of the Sharjah Investment Forum, held alongside the World Investment Conference (WIC) for the first time, hosted over 160 sessions during two days, featured 95 speakers, and attracted more than 10,000 participants.
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