Uber-owned Careem is leveraging artificial intelligence (AI) as it looks to evolve from its original business model and move more than just people.
The company's new head of engineering is training employees, developing a competitive internship programme and leveraging the company’s new remote-first culture to recruit senior staff as it builds real-time machine learning capabilities.
"The biggest pivot in 2021 is a greater focus on that [customer] feedback loop," Baber Shaikh, VP of engineering and mobility, told The National. "How do we make our data systems close to real time? How do we begin to take advantage of 5G?"
The next-generation network will exponentially increase data flows, allowing Careem to build algorithms that better anticipate and cater to consumer preferences as the company pivots to being a mobility company that moves not just people but money, food and products, too.
The company is in the midst of a business transformation strategy and a return to growth following a year that saw its ride-hailing business decline sharply but ushered in new areas of potential. Careem’s delivery business grew four-fold and mobile payments doubled. Its $50 million Super App, which rolled out in July, pulled all of its services – ride-hailing, grocery and pharmacy delivery and Careem Pay – into a single programme. Ninety-six per cent of Careem users made the switch to the app.
To keep pace with what Mr Shaikh called “a rapid pivot”, the company is hiring across its engineering unit, which currently employs about 170 people. The company has 212 job openings right now.
Its new engineering lead is focused on developing a team that is ready to handle a new era in machine learning. In 2020, common wisdom around consumer data science went out the window, he said.
“Historically, what companies took pride in was the quantity or the quality of the data. If I had lots of data going back a decade, I had an advantage on you because you could model off that data” and begin to make predictions and anticipate preferences.
“But when the pandemic happened, customer behaviour changed. And because that customer behaviour changed, it reset a lot of the trends. You had invalidated the historical data that existed.”
Building algorithms that compare moment-to-moment rather than seasonal or annual changes is Careem’s new approach to development.
Mr Shaikh is a pragmatist. He sees his role as developing technology that helps ferry anything from Point A to Point B in the cheapest and fastest way possible.
A pressing challenge right now is building technology infrastructure to better manage the supply side of consumer demand – whether that’s during a peak travel period in Dubai or the types of groceries and when people want them in Karachi. The insights can help drive down both costs and time.
To build these capabilities, Mr Shaikh is focused on building a pipeline of talent from local universities. He wants Careem internships to have the prestige of bagging a summer gig at Google or Facebook for Stanford or CalTech students.
“I want to see the reverse brain drain,” Mr Shaikh said, referring to the phenomenon of well-educated young adults fleeing major education hubs in the region for more attractive employment opportunities elsewhere.
Building research relationships with universities in the region will also help power the development of intellectual property. This is an area of focus that helped propel the US and China to become global leaders in artificial intelligence.
He is optimistic about the possibility.
“We have an ecosystem that is being built here which mirrors [Silicon] Valley very closely. I think we will continue to pull great talent from the Valley and from the big tech hubs into our region.”
He would know. Mr Shaikh joined the company four months ago following a 20-year career on the West Coast of the US, where he developed products for Microsoft’s Xbox and worked on the gaming unit of chipmaker Nvidia.
His five years at Nvidia were instructive, he said, as the California-based company transitioned from a traditional chipmaker to one underpinned by artificial intelligence, selling its semiconductors to power Tesla’s autonomous vehicle technology and growing exponentially, outpacing Intel as the biggest US chipmaker by market cap in July.
While he managed engineering teams from Moscow to Shanghai, over the last few years Mr Shaikh said the technology news coming out of the Middle East, and Dubai in particular, piqued his interest. Stories about Dubizzle, Souq, Property Finder and Careem gave him the impression of “a lot of positive energy coming out of the region”.
“The mission [Careem] had around simplifying the lives of the people in the region was really exciting to me,” he said, adding that the speed and potential to build something entirely new was a challenge he was ready for in this phase of his career.
“When we were building Xbox, we inherited payments, we inherited [user] identity, we inherited a good tech infrastructure. So when we were launching Xbox Live, we just kind of took those things for granted. That's not what was happening here.
“Careem was not just spearheading ride-hailing at its core, it was spearheading data and AI, mapping and technology. It takes a tremendous amount of energy and effort and a sense of direction and mission.”
To take it to the next level, Mr Shaikh is developing a more tech-focused mentorship programme internally, and leaning on the company’s remote-first work culture – first introduced in September – to attract international talent.
As for parent company Uber, which finalised its $3.1 billion purchase of Careem last year, Mr Shaikh said so far the company has had no say in day-to-day business decisions or strategy. The two companies are, however, in ongoing conversations to share intellectual property.
“Uber can accelerate our learnings in terms of algorithms and models,” he said, and minimise the “experimentation” phase of building a new product.
“What I want to make progress on as somebody who's helping lead engineering, is to minimise mistakes, learn from experience and then move rapidly to take advantage of all the goodness that's happening in the region.”
The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
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.”
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
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Six things you need to know about UAE Women’s Special Olympics football team
Several girls started playing football at age four
They describe sport as their passion
The girls don’t dwell on their condition
They just say they may need to work a little harder than others
When not in training, they play football with their brothers and sisters
The girls want to inspire others to join the UAE Special Olympics teams
8 traditional Jamaican dishes to try at Kingston 21
- Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
- Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
- Mento Oxtail: flavoured oxtail stewed for five hours with herbs
- Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
- Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
- Jamaican beef patty: a pastry with ground beef filling
- Hellshire Pon di Beach: Fresh fish with pickles
- Out of Many: traditional sweet potato pudding
Challenge Cup result:
1. UAE 3 faults
2. Ireland 9 faults
3. Brazil 11 faults
4. Spain 15 faults
5. Great Britain 17 faults
6. New Zealand 20 faults
7. Italy 26 faults
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
Dubai World Cup nominations
UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer
USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.
Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
UAE%20SQUAD
%3Cp%3E%0D%3Cstrong%3EMen%3A%3C%2Fstrong%3E%20Saif%20Al%20Zaabi%2C%20Salem%20Al%20Marzooqi%2C%20Zayed%20Al%20Ansaari%2C%20Saud%20Abdulaziz%20Rahmatalla%2C%20Adel%20Shanbih%2C%20Ahmed%20Khamis%20Al%20Blooshi%2C%20Abdalla%20Al%20Naqbi%2C%20Khaled%20Al%20Hammadi%2C%20Mohammed%20Khamis%20Khalaf%2C%20Mohammad%20Fahad%2C%20Abdulla%20Al%20Arimi.%0D%3Cbr%3E%3Cstrong%3EWomen%3A%3C%2Fstrong%3E%20Mozah%20Al%20Zeyoudi%2C%20Haifa%20Al%20Naqbi%2C%20Ayesha%20Al%20Mutaiwei.%3C%2Fp%3E%0A
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Overall standings
1. Christopher Froome (GBR/Sky) 68hr 18min 36sec,
2. Fabio Aru (ITA/AST) at 0:18.
3. Romain Bardet (FRA/ALM) 0:23.
4. Rigoberto Uran (COL/CAN) 0:29.
5. Mikel Landa (ESP/SKY) 1:17.
Fifa Club World Cup quarter-final
Esperance de Tunis 0
Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
Turkish Ladies
Various artists, Sony Music Turkey
Company profile
Name: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
If you go…
Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.
Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days.
More coverage from the Future Forum
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
WHAT IS GRAPHENE?
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.