2023 was generative AI’s year, when the huge potential of the technology began to be realised in real-world settings. 2024 must be the year we get serious about its risks – especially the serious implications it could have for widening existing inequalities and creating new ones.
It is incumbent on international leaders and policymakers to ensure that all of humanity – not just the fortunate few – reap the benefits of AI.
The capabilities of AI systems are maturing, and many in the developed world now use large language models that understand language, generate images and engage in reasoning, in our everyday lives. In the near future, it is expected that these models will support improvements in productivity, boosting economic growth, empowering individuals from the arts to scientific research, and probably helping humankind address large-scale social and technological challenges.
But will these effects be evenly distributed? Will they focus on the needs of communities that are already under-represented? And how can we ensure that the benefits don’t just go to developed countries that have the resources, infrastructure, digital literacy and training to best take advantage of frontier AI?
In terms of AI development, there are several issues that needs to be addressed in terms of access and inclusion.
It is incumbent on leaders and policymakers to ensure that all of humanity – not just the fortunate few – reap the benefits of AI
For example, in terms of development, the majority of training data tends to be based on English-based training data. This is natural as the majority of data produced is linked to English, while it is important to recognise that important local innovations equally can be unlocked when large language models are specialised on low-resource languages where data is not as readily available.
The challenges of unlocking local innovation in AI tends to be paired with inadequate access to internet services, limited computing power, and lacking availability to sectoral training. Those groups and nations that are already struggling to take advantage of current AI systems will probably fall further behind, unless some of these trends are actively reversed.
To redress governments, private-sector leaders and technical experts need to build support for and create rules and norms for the equitable development, distribution and access to AI. They will also need to consider a range of other issues, including bias, privacy, the need for shared, precise terminology, accountability, transparency and the development of trust.
Without some degree of intervention, governance, safeguards, and importantly, consensus, we cannot assure inclusive AI. To address this divide, the World Economic Forum is using its multi-stakeholder model to bring together government and business leaders to ensure key issues such as inclusivity and equitable access are on the AI agenda.
Building on its Presidio AI Framework for Responsible and Optimised AI Development and Deployment, released in June last year, the Forum’s AI Governance Alliance is bringing experts from different sectors together to promote cross-border data quality and availability. It aims to mobilise resources to explore the benefits of AI in important sectors such as education and health care.
The AI Governance Alliance is advancing a three-pronged approach to ensure the equitable distribution of the technology worldwide. The Briefing Paper Series, published during our annual meeting, present recommendations on safe systems and technologies, responsible applications and transformations, and resilient governance and regulation.
Among the central tenets identified to success are the need for standardised perspectives on the model lifecycle, inculcating shared responsibility, taking steps to proactively manage risk, ensuring multi-stakeholder governance, communicating transparently, and advocating for international co-ordination and standards to help prevent fragmentation.
Generative AI is rapidly becoming a defining feature of modernity. Unlike other technologies of national and international importance, AI can be used by anyone with access worldwide. The issue is to ensure that it is a part of everyone’s future, and this can only be achieved if we build in inclusivity now.
Open, transparent innovation and international collaboration are essential to AI’s continued responsible development to ensure that it upholds shared human values and promotes inclusive societal progress. To date, this has been shown to be lacking, but we are well placed to see where the problems lie and how they can be addressed.
We have a narrow window in which to act, underscoring why we need to work quickly, efficiently and together during 2024.
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The biog
Name: Salem Alkarbi
Age: 32
Favourite Al Wasl player: Alexandre Oliveira
First started supporting Al Wasl: 7
Biggest rival: Al Nasr
Killing of Qassem Suleimani
How Beautiful this world is!
The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
Mina Cup winners
Under 12 – Minerva Academy
Under 14 – Unam Pumas
Under 16 – Fursan Hispania
Under 18 – Madenat
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
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Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
