Artificial intelligence apps for consumers – such as the digital assistants on our phones, photo editing tools or ChatGPT – are a constant source of fascination. However, the real “emerging frontier” of AI – to quote a key theme of this year’s World Governments Summit in Dubai – lies elsewhere.
It lies in embedding AI deeply into the processes of business and public administration, and in using it for the modernisation and competitiveness of our economies. At SAP, we refer to this as "Business AI."
Business AI enables companies and the public sector to cope with intense transformational pressures by automating critical processes. It can, for example, help better predict customer demand and quickly respond to disruptions in the supply chain. It can simplify and optimise visual inspection processes and support developers by making it easier and faster to find errors. And it can automatically read, capture, and review thousands of documents – be it truck delivery notes in companies or administrative forms in government – thereby unlocking great savings in terms of time and costs.
Why some organisations hesitate
It is already clear that the industrial use of AI will revolutionize all sectors, but many organisations still hesitate. Why is that? Three major impediments are often quoted – and all of them can be resolved.
First, organisations often cite concerns about data security and the quality and accuracy of AI results. After all, there is no room for error in the critical processes of business and government.
It’s important to note here that generic AI models like ChatGPT have good general knowledge but they do not by themselves understand specific business contexts.
Business AI, however, is something very different: It understands the specific data of companies and public administration in the finest detail, is highly accurate and reliable, and handles sensitive data with all the necessary care. Why? Because it was designed specifically for high-stakes environments in the private and public sectors.
The second concern often mentioned is that AI is evolving so rapidly that solutions bought today might be obsolete tomorrow. The consequence is that organisations delay or shy away from implementing major AI projects – projects that could potentially bring massive productivity gains.
This concern is also easy to dispel: When business processes run in the cloud, organizations have immediate access to the latest AI innovations. Updates can be performed quickly and at a low cost, just like a software update on a smartphone.
The third common impediment to AI adoption is directly related: Cloud adoption is a necessary foundation for strong AI solutions. This is because only in the cloud can AI work with high-quality data and operate cost-effectively and at scale.
Today, however, there are proven methodologies and powerful toolkits for bringing companies to the cloud in a swift and safe manner. And once organisations have made that transition, they gain instant and easy access to the AI solutions embedded in modern cloud software.
The role of governments
Governments and policymakers have a range of options to promote Business AI adoption and to unlock its great benefits for countries and their economies.
First, governments can prioritise investment in AI-related research, development, and public-private partnerships. They can also invest in local AI talent – for example through partnerships with universities, global tech leaders and local organisations as well as through scholarships and upskilling programmes.
Second, policymakers can design comprehensive national AI and cloud strategies, thereby driving a common understanding of priorities, timing and goals. And they can establish regulatory sandboxes with flexible data governance policies – as a smart way to encourage exponential innovation while safeguarding data protection and data residency.
Third, the digital transformation of public service, supported by public-private partnerships, can serve as a lighthouse model demonstrating the benefits of the cloud and AI to citizens and industry alike.
Finally, in Business AI, as in previous chapters of the digital revolution, the best ecosystem will prevail – and governments can facilitate their creation. An ecosystem is typically composed of leading tech and industry companies, universities, startups, and government actors.
One example of how it can work is the SAP Innovation Hub in Khobar, Saudi Arabia, which opened in 2024. The hub brings together SAP’s global and regional cloud and AI experts, nearby companies, startups and partners in a vibrant community of co-innovation where new ideas and approaches are tested and honed against practical business challenges. An innovation lab along similar lines is already well underway in the UAE.
All in all, Business AI represents perhaps the greatest economic chance of our generation – for individuals, nations, and on a global level. We can make our societies more productive, more robust, more sustainable. Let's seize this tremendous opportunity.
Motori Profile
Date started: March 2020
Co-founder/CEO: Ahmed Eissa
Based: UAE, Abu Dhabi
Sector: Insurance Sector
Size: 50 full-time employees (Inside and Outside UAE)
Stage: Seed stage and seeking Series A round of financing
Investors: Safe City Group
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Cargoz%3Cbr%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%20January%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Premlal%20Pullisserry%20and%20Lijo%20Antony%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2030%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
Stan%20Lee
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20David%20Gelb%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
How%20to%20avoid%20getting%20scammed
%3Cul%3E%0A%3Cli%3ENever%20click%20on%20links%20provided%20via%20app%20or%20SMS%2C%20even%20if%20they%20seem%20to%20come%20from%20authorised%20senders%20at%20first%20glance%3C%2Fli%3E%0A%3Cli%3EAlways%20double-check%20the%20authenticity%20of%20websites%3C%2Fli%3E%0A%3Cli%3EEnable%20Two-Factor%20Authentication%20(2FA)%20for%20all%20your%20working%20and%20personal%20services%3C%2Fli%3E%0A%3Cli%3EOnly%20use%20official%20links%20published%20by%20the%20respective%20entity%3C%2Fli%3E%0A%3Cli%3EDouble-check%20the%20web%20addresses%20to%20reduce%20exposure%20to%20fake%20sites%20created%20with%20domain%20names%20containing%20spelling%20errors%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Mohammed bin Zayed Majlis
Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
Apple%20Mac%20through%20the%20years
%3Cp%3E1984%20-%20Apple%20unveiled%20the%20Macintosh%20on%20January%2024%3Cbr%3E1985%20-%20Steve%20Jobs%20departed%20from%20Apple%20and%20established%20NeXT%3Cbr%3E1986%20-%20Apple%20introduced%20the%20Macintosh%20Plus%2C%20featuring%20enhanced%20memory%3Cbr%3E1987%20-%20Apple%20launched%20the%20Macintosh%20II%2C%20equipped%20with%20colour%20capabilities%3Cbr%3E1989%20-%20The%20widely%20acclaimed%20Macintosh%20SE%2F30%20made%20its%20debut%3Cbr%3E1994%20-%20Apple%20presented%20the%20Power%20Macintosh%3Cbr%3E1996%20-%20The%20Macintosh%20System%20Software%20OS%20underwent%20a%20rebranding%20as%20Mac%20OS%3Cbr%3E2001%20-%20Apple%20introduced%20Mac%20OS%20X%2C%20marrying%20Unix%20stability%20with%20a%20user-friendly%20interface%3Cbr%3E2006%20-%20Apple%20adopted%20Intel%20processors%20in%20MacBook%20Pro%20laptops%3Cbr%3E2008%20-%20Apple%20introduced%20the%20MacBook%20Air%2C%20a%20lightweight%20laptop%3Cbr%3E2012%20-%20Apple%20launched%20the%20MacBook%20Pro%20with%20a%20retina%20display%3Cbr%3E2016%20-%20The%20Mac%20operating%20system%20underwent%20rebranding%20as%20macOS%3Cbr%3E2020%20-%20Apple%20introduced%20the%20M1%20chip%20for%20Macs%2C%20combining%20high%20performance%20and%20energy%20efficiency%3Cbr%3E2022%20-%20The%20M2%20chip%20was%20announced%3Cbr%3E2023%20-The%20M3%20line-up%20of%20chip%20was%20announced%20to%20improve%20performance%20and%20add%20new%20capabilities%20for%20Mac.%3C%2Fp%3E%0A
