The phenomenon of climate change and its causes are broadly agreed upon by scientists. The same, however, cannot be said for the public. The sheer volume of dissenting voices and polarised opinion on the internet caused one postdoctoral researcher at NYU Abu Dhabi, Thomas Marlow, to investigate one of the suspected culprits – automated bots.
His findings, published last month, are striking: bots were responsible for 25 per cent of all Twitter posts on the topic over a two-month period. That's machines directed by humans to spread disinformation. The effects of this are hard to measure, but Marlow's suspicion is that it may be draining support from policies to address climate change.
Intentionally malicious bot activity is by no means limited to this topic. A 2019 study by the University of Oxford entitled The Global Disinformation Order found that 70 countries were being targeted by political disinformation campaigns, including the US, the UK and the UAE. But by far the biggest swell of disinformation has surrounded the coronavirus pandemic, with bots responsible for somewhere approaching 50 per cent of Twitter posts on the topic.
“During many disasters and many elections throughout the world, you’ll see a few dozen disinformation stories,” says Kathleen Carley, a professor in the School of Computer Science at Carnegie Mellon University in the US.
"But during this pandemic, there's been over 7,000. Without some better structure [to tackle the problem], we're not going to get back to the lower levels we had prior to the pandemic."
What is the aim of these bots? In his book The Hype Machine, author Sinan Aral puts it simply: "Misleading humans … humans who vote, protest, boycott products, and decide whether to vaccinate their kids."
But the reasons for sowing that confusion are many and various, says Carley. "Some people do it literally because they're bored and they think it's funny. In other cases, it's being spread explicitly as a way of undermining or attacking at-risk groups – ethnic, religious or sexual minorities. It might be done to create civil discord or help grow a cult or a group."
And it works. Bots sow the seeds of confusion, and humans run with it, sharing and retweeting posts far and wide. It's been proven by many researchers that disinformation spreads more quickly than the truth. It gets more clicks and more likes because of what Aral terms the "novelty hypothesis".
A lot of disinformation can affect you emotionally and psychologically. People start mistrusting institutions in general, which makes them more likely to, say, take the law in their own hands.
Surprising information attracts our attention, and we share it because we like to be seen as “in the know”. The mechanic is well established, and we continue to facilitate it. We’re not as good at spotting disinformation as we think we are. “From a political standpoint, conservatives are better at spotting disinformation from liberals,” says Carley. “If you’re a liberal, you’re more likely to spot a bot that is pushing conservative rhetoric.” In effect, we pounce upon and propagate disinformation that confirms our existing biases.
Pinpointing the real world effects of this isn't easy. It undoubtedly creates false consensuses, as fringe theories start to be interpreted as being widely believed. Carley says this may lead to extreme behaviour, which proves the influence of bots.
“When someone commits an egregious act, you can go into their email and their browser history and see that they were paying attention to this serious disinformation,” she says. “But there are other consequences. When your students don’t check the facts they’re getting from these disinformation sites, they get worse grades. A lot of disinformation can affect you emotionally and psychologically. People start mistrusting institutions in general, which makes them more likely to, say, take the law in their own hands.”
A number of tools, such as Hoaxy and Botometer, have been developed by researchers to distinguish bot posts from real ones. Bots tend to be betrayed by the content they post and the frequency with which they do it. But if researchers’ tools can detect them (with up to 95 per cent accuracy, in the case of Botometer), why can’t the social media platforms? Twitter has, in the past, disputed some claims of bot activity, calling it “misleading and inaccurate”.
Carley, however, says that accounts identified as bots in her own study were actually taken down by Twitter. "They're under a lot of pressure to change, and we've seen some movement in that direction because they don't want to be policed by the government," she says. "So they're trying to do their own internal policing, but that means they become the dictators of what is and is not free speech. Which is not a good thing."
When one bot account is removed, another inevitably replaces it, making the problem incredibly hard to combat. Carley believes that it requires a combination of self-regulation on the part of the social media platforms, some formal government regulation, better education on how to spot disinformation and communities banding together to call it out. At the end of last year, Twitter unveiled plans to introduce, at some point this year, a way for users to distinguish bots from real accounts.
But for their part, bots will become more cunning in order to evade detection, developing personas to look more authentic and even gaining the ability to debate issues. Our job, as users, is simply stated, but far from easy: to keep our wits about us.
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.”
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 2.0-litre 4-cylinder turbo
Power: 275hp at 6,600rpm
Torque: 353Nm from 1,450-4,700rpm
Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
On sale: Now
Price: Dh146,999
Kandahar%20
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Vikram%20Vedha
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Company%20profile
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The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
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SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP%204
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The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Mohammed bin Zayed Majlis
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5