According to Paddy Cosgrave, CEO of the yearly tech event Web Summit, China is poised to take the lead in global technology over the next ten years. In a recent interview on Al Jazeera Digital’s program On The Record, Cosgrave argued that the Western world, which has been at the forefront of tech innovation for the past 50 years, has lost its edge.
Cosgrave pointed out that, historically, the U.S. had been the driving force behind technological progress. However, the past ten years have seen a broad distribution of tech capabilities across the globe.
He emphasized that China is set to excel in technology because it has strategically fostered a strong relationship between its public and private sectors, yielding impressive outcomes.
The CEO also critiqued the United States and European nations for struggling to adapt when faced with global competition. He mentioned that the Middle East is a rapidly growing tech hub, and Web Summit aims to showcase its emerging tech firms.
Initially, the event attracted primarily a European and North American crowd, but Cosgrave highlighted the significant increase in participation from the Arab world over the last five years.
In 2024, Qatar is scheduled to host the Web Summit, an event Cosgrave believes will draw global attention to the Arab world and underscore its importance in the tech sector.