The co-founder of the tech summit, which might be held in Qatar subsequent 12 months, says the West has misplaced its lead on tech.

Doha, Qatar – China is about to dominate the world of know-how within the coming decade, in keeping with Paddy Cosgrave, the chief govt officer of the annual know-how convention Web Summit.

Speaking on Al Jazeera Digital’s present On The Record, Cosgrave mentioned the West has misplaced its standing because the chief in know-how and innovation after being within the place for half a century.

“For 50 years advances within technology were driven by the United States, but over the past decade, there has been rapid dispersion of technological capability to other parts of the world,” he mentioned.

“In the coming decade, China will dominate technology because it has focused intensively on the important partnership between the public and private sectors with stunning results.”

Cosgrave was vital of the US and European international locations, saying they “find it difficult when companies from elsewhere in the world outcompete them”.

The Irish co-founder of the worldwide tech occasion has earmarked the Middle East because the area that can deliver “most of the growth” within the know-how sector, whose rising corporations the occasion will showcase.

“When Web Summit started, it attracted an overwhelmingly European and North American audience, but the changes over the past five years have been stark with the rise of participation from the Arab world,” Cosgrave mentioned.

Qatar is slated to host the 2024 version of the occasion from February 25 to 29, and Cosgrave mentioned it is going to assist deliver the remainder of the globe to the nation and the Arab world.

“[It will] show them that this is an incredibly important market. You can’t not be here.”

Join us for the primary Web Summit occasion within the Middle East 🎉
Web Summit Qatar is about to deliver the worlds of know-how, innovation and networking to the Middle East like by no means earlier than. Will you be there? pic.twitter.com/XeuEkTKUv4

— Web Summit Qatar (@websummitqatar) August 18, 2023