US software company Oracle opened a technology collaboration centre in Abu Dhabi that aims to help public and private sector organisations leverage the use of emerging technology to boost their bottom lines.
The Al Mustaqbal Oracle Innovation Hub on Reem Island will promote the integration of innovation into companies to streamline their cost and operational efficiencies, the Texas-based company said at the launch on Wednesday.
It will focus on artificial intelligence, machine learning and the Internet of Things, as well as supporting the development of the UAE capital’s knowledge economy.
The hub is part of Oracle’s continued investment in the UAE and the second after the Zayed Innovation Hub in Dubai. The company declined to disclose the investment cost of the centre.
Representatives from Abu Dhabi government entities attended the launch, including from the Ministry of Interior, the Department of Finance, the Abu Dhabi Digital Authority (ADDA), Abu Dhabi Customs, the Human Resources Authority and sovereign wealth fund Mubadala.
“Data is the beginning,” Mohamed Al Askar, director general of the ADDA, said in a keynote. "We spend huge time using technology, changing and impacting our interaction. The journey will never stop.
“We always want to explore and do something new. And along that journey and transformation we always seek the right partners.”
GCC states are attracting a large number of global technology companies because of the rise of tech-focused young consumers and an evolving digital landscape in the region.
Data centre companies have been a key factor in helping economies keeping in step with the rapidly-evolving digital landscape.
The UAE is ranked first in the Middle East in the 2021 edition of the Global Innovation Index, cementing its status as among the world’s leading countries in adopting the latest technology.
Oracle and a host of other global technology companies have flocked to the Emirates to set up various facilities to support the country's technological push.
The company currently has 33 cloud regions globally, with three in the Middle East, and the most recent one opened in Abu Dhabi last November. The Jeddah and Dubai regions were inaugurated in 2020.
Microsoft and Amazon, among the world's most valuable companies, have also opened their respective cloud regions in the UAE.
"We are seeing an increasing demand on how the government and the private sector leverages data and analytics," Leopoldo Boado, senior vice president for business applications at Oracle, told The National.
"The main challenge is how we use and take advantage of the value of this data. Data centres have that maximum level of security and sovereignty."
The global cloud computing market was valued at $368.97 billion in 2021 and is projected to grow at a compound annual rate of almost 16 per cent from 2022 to 2030, according to Grand View Research.
Global spending on public cloud services, meanwhile, is expected to rise by more than 20 per cent annually to $495bn this year — nearly $84bn more than what was spent in 2020 — and hit $600bn in 2023, according to research firm Gartner.
The UAE provides the ecosystem, talent and support to explore innovation. We always want to be the first in digital transformation
Mohamed Al Askar,
director general of the Abu Dhabi Digital Authority
Additionally, the Ministry of Industry and Advanced Technology had announced that it would adopt the Smart Industry Readiness Index, the global standard used by the World Economic Forum, to help local companies use Fourth Industrial Revolution technology to boost productivity and their contribution to the economy.
Oracle's new innovation hub aims to help public entities and private businesses to co-innovate to be able to capture the new opportunities in the market, Mr Boado said.
“There is a big shift right now among chief financial officers, mainly on cost reductions. The main focus is on the top line and how they can increase revenues."
In addition to corporates, the programme will also support start-ups and small and medium enterprises, both of which are major pillars of the UAE's economic engine.
Mr Al Askar said: “The UAE provides the ecosystem, talent and support to explore innovation. We always want to be the first in digital transformation."
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Killing of Qassem Suleimani
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs: Macan Turbo
Engine: Dual synchronous electric motors
Power: 639hp
Torque: 1,130Nm
Transmission: Single-speed automatic
Touring range: 591km
Price: From Dh412,500
On sale: Deliveries start in October
Essentials
The flights
Etihad (etihad.ae) and flydubai (flydubai.com) fly direct to Baku three times a week from Dh1,250 return, including taxes.
The stay
A seven-night “Fundamental Detox” programme at the Chenot Palace (chenotpalace.com/en) costs from €3,000 (Dh13,197) per person, including taxes, accommodation, 3 medical consultations, 2 nutritional consultations, a detox diet, a body composition analysis, a bio-energetic check-up, four Chenot bio-energetic treatments, six Chenot energetic massages, six hydro-aromatherapy treatments, six phyto-mud treatments, six hydro-jet treatments and access to the gym, indoor pool, sauna and steam room. Additional tests and treatments cost extra.
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
COMPANY%20PROFILE
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Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.