Ammar Al Malik and Taha Khalifa at Dubai Internet City's stand at Gitex Technology Week in Dubai. Photo: Dubai Internet City
Ammar Al Malik and Taha Khalifa at Dubai Internet City's stand at Gitex Technology Week in Dubai. Photo: Dubai Internet City
Ammar Al Malik and Taha Khalifa at Dubai Internet City's stand at Gitex Technology Week in Dubai. Photo: Dubai Internet City
Ammar Al Malik and Taha Khalifa at Dubai Internet City's stand at Gitex Technology Week in Dubai. Photo: Dubai Internet City

Intel to open AI research centre at Dubai Internet City


Alvin R Cabral
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Intel, one of the world's largest technology companies, will open its first artificial intelligence research and development centre at Dubai Internet City (DIC), underscoring the emirate's appeal as a key destination in the GCC for establishing innovation facilities.

The first of its kind centre in the Middle East region will help accelerate its digital transformation by leveraging advanced AI software solutions, DIC said at Gitex Technology Week in Dubai on Tuesday.

“Dubai’s integrated business ecosystem and favourable economic climate have attracted the world’s largest companies whose innovations and insights have strengthened digital transformation not only in our emirate but also the wider region," Ammar Al Malik, executive vice president for commercial leasing at DIC operator Tecom Group, said in the statement.

"Advanced technologies like artificial intelligence are defining the future of all sectors, from manufacturing to education, and establishing a robust tech ecosystem to navigate this emerging and ever-evolving space gives Dubai a competitive edge beneficial to businesses, talent and economic growth.”

Digital transformation in the Middle East continues to accelerate on the back of economies that have become increasingly reliant on technology.

The UAE, which has been at the forefront of promoting the use of these innovations, has become a destination for major global companies looking to establish a research base that will serve the wider region.

Last month, 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.

Intel said the centre will work closely with Dubai's academic community and relocate a number of its AI experts from its global offices to build a strong talent pool for future products and technologies.

  • Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, visits Gitex at Dubai World Trade Centre. All photos: @HHShkMohd / Twitter
    Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, visits Gitex at Dubai World Trade Centre. All photos: @HHShkMohd / Twitter
  • Sheikh Mohammed visits Gitex at Dubai World Trade Centre.
    Sheikh Mohammed visits Gitex at Dubai World Trade Centre.
  • Sheikh Mohammed visits Gitex at Dubai World Trade Centre.
    Sheikh Mohammed visits Gitex at Dubai World Trade Centre.

Among the sectors Intel's facility will focus on are health care, transportation and public safety, said Taha Khalifa, Intel's general manager for the Middle East.

The opening of the R&D centre is a "strong opportunity to collaborate across the region’s talented and growing technology ecosystem to help drive further AI innovation to fuel global solutions for many segments", he added.

PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

Our legal consultant

Name: Hassan Mohsen Elhais

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Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

South Africa squad

: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Indoor cricket in a nutshell

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

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.”

Tamkeen's offering
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UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP

Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan

Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri

Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics

 

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Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix

GP3 qualifying, 10:15am

Formula 2, practice 11:30am

Formula 1, first practice, 1pm

GP3 qualifying session, 3.10pm

Formula 1 second practice, 5pm

Formula 2 qualifying, 7pm

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The biog:

From: Wimbledon, London, UK

Education: Medical doctor

Hobbies: Travelling, meeting new people and cultures 

Favourite animals: All of them 

Updated: October 12, 2022, 9:20 AM