Executives from UAE technology companies at the Chief Future Officer Forum in Dubai on Thursday. Alvin R Cabral / The National
Executives from UAE technology companies at the Chief Future Officer Forum in Dubai on Thursday. Alvin R Cabral / The National
Executives from UAE technology companies at the Chief Future Officer Forum in Dubai on Thursday. Alvin R Cabral / The National
Executives from UAE technology companies at the Chief Future Officer Forum in Dubai on Thursday. Alvin R Cabral / The National

UAE tech leaders say AI gives us 'superhuman' powers but call for responsible use


Alvin R Cabral
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  • Arabic

Technology leaders in the UAE have lauded the role of tools such as artificial intelligence behind a rapid digital transformation but warned they should be used responsibly.

Organisations are keen to use tech tools that have the potential to provide significant positive benefits, but they should be vigilant to address any unintended consequences, panelists said at the first Chief Future Officer Forum in Dubai on Thursday.

"Digital transformation is incredibly exciting, but it's also scary and intimidating. If we may think of what would change in the next five to 10 years, number one [is that] we will all have incredibly more powerful tools in our hands," Ussama Dahabiyeh, chief executive of Injazat, a technology business that is part of Abu Dhabi's G42, said at the forum.

"These are tools that will give us ‘superhuman’ powers in our hands. Our relationship with machine will be different; in the next few years we will see those machines really more integrated in our daily lives, from sensors to robots, all connected to powerful AI models."

Hence, data privacy, security and ethics must be in place to protect individuals and organisations using these technology.

"The most important message is the need to take action and to be bold as soon as possible," Mr Dahabiyeh said.

It is also equally important to build and put in place the infrastructure necessary to support and ensure the reliability of these technology.

"We know that AI is the brain power of humanity in being able to augment human intelligence and then data is the food that fuels it. AI is going to require muscle power, and that's where the infrastructure comes in," said Talal Al Kaissi, chief executive of G42 Cloud.

"Each industry trying to leverage AI is predicated on having proprietary data sets that need to be protected the same way you would protect national security data."

Enterprises and governments have lauded the critical role digital transformation plays in the economy and society, as the world prepares for a future largely powered by technology.

Investments in digital transformation across the Middle East, Turkey and Africa region is projected to surpass $74 billion by 2026, helping organisations achieve long-term stability and growth, latest data from the International Data Corporation shows.

Notable technologies that have been capturing the attention of organisations and individuals are blockchain, cryptocurrencies and the Internet of Things.

But by far the most popular is AI and machine learning, particularly augmented by the rise of generative AI, thanks to OpenAI's ChatGPT.

This has kicked off a race with Google's Bard, drawn interest from Twitter chief executive Elon Musk and prompted Apple to work on improving its digital assistant Siri.

However, there have been warnings as well on the downsides of AI, including its ability to replace human jobs and potentially become more dangerous as it learns more, especially on its own.

Geoffrey Hinton, considered the "godfather of AI", recently spoke on the dangers of the technology after he left his top post at Alphabet's Google this week.

Digital transformation is incredibly exciting, but it's also scary and intimidating ... these are tools that will give us ‘superhuman’ powers in our hands
Ussama Dahabiyeh,
chief executive of Injazat

While AI has the "power to revolutionise many types of work, provide substantive productivity gains and be a differentiator for organisations ... [but] with these advances, there is even greater responsibility for those building and deploying AI", Naim Yazbeck, general manager of Microsoft UAE, told The National.

However, this should not deter companies from using new technologies: implementing them properly and being responsible to ensure it is not misused can provide economic and financial benefits, he said.

"There is sometimes the hesitation of trying new technology, like the mentality of 'if it's not broken, you don't need to fix it'," G42 Cloud's Mr Al Kaissi said.

"But we see that most organisations embrace technologies once they know the general value that they are able to induce in terms of cost optimisation or enablement. They tend to typically jump on the opportunity to take advantage of what these provide."

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Fixtures

Opening day Premier League fixtures for August 9-11

August 9

Liverpool v Norwich 11pm

August 10

West Ham v Man City 3.30pm

Bournemouth v Sheffield Utd 6pm

Burnley v Southampton 6pm

C Palace v Everton 6pm

Leicester v Wolves 6pm

Watford v Brighton 6pm

Tottenham v Aston Villa 8.30pm

August 11

Newcastle v Arsenal 5pm

Man United v Chelsea 7.30pm

 

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Stamp duty timeline

December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%

April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.

July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.

March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.

April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.

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SHAITTAN
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SPECS
%3Cp%3EEngine%3A%20Supercharged%203.5-litre%20V6%0D%3Cbr%3EPower%3A%20400hp%0D%3Cbr%3ETorque%3A%20430Nm%0D%3Cbr%3EOn%20sale%3A%20Now%0D%3Cbr%3EPrice%3A%20From%20Dh450%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
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

Company profile

Name: The Concept

Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal

Based: Abu Dhabi

Founded: 2017

Number of employees: 7

Sector: Aviation and space industry

Funding: $250,000

Future plans: Looking to raise $1 million investment to boost expansion and develop new products

OPENING FIXTURES

Saturday September 12

Crystal Palace v Southampton

Fulham v Arsenal

Liverpool v Leeds United

Tottenham v Everton

West Brom v Leicester

West Ham  v Newcastle

Monday  September 14

Brighton v Chelsea

Sheffield United v Wolves

To be rescheduled

Burnley v Manchester United

Manchester City v Aston Villa

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

Teaching your child to save

Pre-school (three - five years)

You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.

Early childhood (six - eight years)

Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.

Middle childhood (nine - 11 years)

Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.

Young teens (12 - 14 years)

Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.

Teenage (15 - 18 years)

Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.

Young adulthood (19 - 22 years)

Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.

* JP Morgan Private Bank 

Updated: May 04, 2023, 12:54 PM