Abu Dhabi National Oil Company has relied on artificial intelligence and behavioural science to keep workers safe since the start of the pandemic.
But those spearheading Adnoc’s preparations for a post-pandemic era say greater “resilience” and “agility” are the ultimate payoff after more than a year of hybrid working.
"We were very agile in our approach and this is thanks to our leadership being very candid, open to new suggestions and not shying away from trying things out for the first time," Ali Alshehhi, a manager in the business and operations analytics department, told The National.
Like many companies around the world, Adnoc employees are coming back to the office in phases. For the Abu Dhabi oil company, the transition began in June 2020. Today, about 60 per cent of workers are back in the office, and the company is taking stock of lessons learnt and may carry forward to strengthen its culture in a post-Covid era.
Panorama, a digital command centre that opened in late 2017 at Adnoc’s headquarters, can now be accessed remotely by employees through a secure connection, providing real-time information across the company’s 14 subsidiary and joint venture companies, using artificial intelligence and data analysis to anticipate disruption and optimise production.
During the pandemic, it has fed data directly into the company's crisis management hub, helping to predict, track and model Covid-19 infection and recovery progress within its workforce. The hub provides simulations and scenario planning for health and safety measures at site level and offers real-time business optimisation amid ever-changing scenarios.
"When the Covid-19 business started March of last year, we had eight days' worth of data. And using [that] ... we made a projection of how the future curve will look for infections," Mr Alshehhi said.
With the help of AI, his team was able to predict the peak of infections, in mid-June of last year, within three days' accuracy. Since then, Panorama has modelled more than 2,000 simulations to improve business continuity.
Adnoc leadership also recognised early on that communication during the pandemic had to go beyond basic information about health and safety and instead keep employees connected and engaged. The intent was to help employees manage the stress and anxiety related to the unexpected nature of the pandemic, and not merely get through it.
Adnoc achieved that goal by placing emphasis on transparent communication across different channels. This encompassed everything from daily and weekly emails to ‘what you need to know’ content for the intranet to encourage healthy habits and behaviour, especially in the early days of the coronavirus.
Adnoc also introduced an AI-driven chatbot app to help employees find answers to their questions and keep up with the pace of changing policies and news. The communications team created WhatsApp animations in five languages to explain policies simply and visually for hygiene and social distancing.
Managers also encouraged virtual mobile phone tours by returning employees to help demystify the return-to-the-office process, build connection and foster a sense of excitement for those who were returning in later waves.
We were very agile in our approach and this is thanks to our leadership being very candid, open to new suggestions and not shying away from trying things out for the first time
Ali Alshehhi,
manager at Adnoc's business and operations analytics department
Scattered throughout Adnoc HQ are “nudges” – a form of behavioural neuroeconomics – to encourage Covid-safe behaviour for employees already back in the office through targeted messaging and visuals.
Recognising that employees are returning in phases and are therefore in different stages of transition and emotional states, Adnoc's leadership has been regularly surveying staff to understand and gauge their emotional response.
This provides an opportunity for employees to express themselves and be heard, and helps the organisation to continue to strengthen its culture in a post-Covid era, said Coni Judge, a senior adviser on culture and employee engagement.
"We look at this as an opportunity [rather] than something bad that happened to us. As a result, we're looking at how to do things better and faster and cheaper," Mr Alshehhi said. "Come what may, I think our appetite now is larger to discover new ways of doing business."
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Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.
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Champions League quarter-final, first leg
Manchester United v Barcelona, Wednesday, 11pm (UAE)
Match on BeIN Sports
Major honours
ARSENAL
BARCELONA
- La Liga - 2013
- Copa del Rey - 2012
- Fifa Club World Cup - 2011
CHELSEA
- Premier League - 2015, 2017
- FA Cup - 2018
- League Cup - 2015
SPAIN
- World Cup - 2010
- European Championship - 2008, 2012
Top 5 concerns globally:
1. Unemployment
2. Spread of infectious diseases
3. Fiscal crises
4. Cyber attacks
5. Profound social instability
Top 5 concerns in the Mena region
1. Energy price shock
2. Fiscal crises
3. Spread of infectious diseases
4. Unmanageable inflation
5. Cyber attacks
Source: World Economic Foundation
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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.”
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Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Zayed Sustainability Prize
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
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