Executive orders, international agreements and resolutions seeking to regulate artificial intelligence have made significant strides this year, but regulatory gaps remain and “AI safe havens” could undermine global progress, a Washington research conference has warned.
“AI governance is not a challenge any nation can tackle alone,” Shigeo Yamada, Japan's ambassador to the US, said during his speech at the Centre for Strategic and International Studies' International AI Policy Outlook conference. “Regulatory gaps in one country could allow unregulated AI development in another, creating what we call AI safe havens.
“We must acknowledge that so far we have not been able to fully engage countries with different positions, including authoritarian states, in these multilateral efforts.”
Mr Yamada didn't specify any countries during his speech, but said such safe havens could allow for negative AI scenarios to come to fruition, blunting economic and societal positives.
“Risks include national security vulnerabilities, cybersecurity threats, privacy violations, the potential misuse of intellectual property,” he said at the at the Wadhwani AI centre conference.
Japan has sought to take a lead in enhancing international AI collaboration as the technology quickly developed.
During the 49th G7 Summit in Japan, the Hiroshima AI Process initiative was announced with hopes of providing a comprehensive framework to responsibly pursue advancements, while at the same time curtailing potential problems.
That initiative eventually led to the creation of the Hiroshima AI Process Friends Group, which now has 54 member countries.
According to a code of conduct provided by the group, organisations in the field of AI are encouraged to follow various actions throughout the course of AI development.
“In designing and implementing testing measures, organisations commit to devote attention to the following risks as appropriate,” the code of conduct reads.
“Chemical, biological, radiological and nuclear risks, such as the ways in which advanced AI systems can lower barriers to entry, including for non-state actors, for weapons development, design acquisition, or use … Risks from [AI] models of making copies of themselves or 'self-replicating' or training other models.”
The code of conduct, according to the group, is updated periodically amid meetings and consultations with member countries and other organisations.
Jennifer Bachus, the principal deputy assistant secretary for the bureau of cyberspace and digital policy at the US State Department, agreed with Mr Yamada.
“Technology diplomacy is increasingly foundational to everything we do in the world,” she said, while also acknowledging the need to avoid becoming numb to the growing chorus of those warning about AI falling into nefarious hands.
“Saying that there's no risk to AI also dumbs down the situation for developing countries.
“They absolutely think there's a risk, and they want to know how to create a situation where they can also have the economic benefits without having national security risk.”
Most speakers at the event also addressed the problem of AI increasing energy demand to power data centres required by the burgeoning technology.
Mr Yamada said that he hoped photon-electron fusion, which replaces electric-based processing with energy efficient light-based processing, would help to alleviate the AI energy crunch.
“We need to improve the energy efficiency of AI itself,” he said. “Now there's an effort to expand light-based processing to include computing chips and peripheral components.”
Sara Cohen, Canada's deputy head of mission, also spoke about the energy concerns.
“AI has a voracious appetite for energy,” she said. “From Canada's perspective it is imperative that we ensure the mainstreaming of AI in governments and workforces does not undermine our progress towards shared climate goals.”
In recent years, while acknowledging AI's increased energy consumption, some researchers and proponents have also pointed to the potential efficiencies created by the technology that could help the climate, although it remains to be seen if that potential can turn into reality.
The return of president-elect Donald Trump could also impact how the world co-operates with AI development and regulations. Mr Trump has promised to repeal President Joe Biden's executive order on AI development.
The Republican Party's 2024 convention platform, largely influenced by the Trump campaign, described the executive order as “dangerous”.
Several speakers at the CSIS event said the future of global AI co-operation and regulation would be more clearer when France hosts an AI action summit in February, shortly after Mr Trump takes office.
“I think it will be very interesting as to how that goes,” said Ms Bachus.
“I think hopefully by that time we'll have a good sense where the Trump administration will be going on AI, what's it's imprimatur and how they're doing it, I can't predict because it's a new administration, it might work out really well or it might be really challenging.”
The private sector also took part in the conference, with Aalok Mehta, Google’s responsible AI policy director, taking part in a panel discussion about AI codes of conduct with Wendy Collins, NTT Data’s chief AI officer.
MATCH INFO:
Second Test
Pakistan v Australia, Tuesday-Saturday, 10am daily at Zayed Cricket Stadium, Abu Dhabi
Entrance is free
The Orwell Prize for Political Writing
Twelve books were longlisted for The Orwell Prize for Political Writing. The non-fiction works cover various themes from education, gender bias, and the environment to surveillance and political power. Some of the books that made it to the non-fiction longlist include:
- Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
- Some Kids I Taught and What They Taught Me by Kate Clanchy
- Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
- Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
- Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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.”
UAE currency: the story behind the money in your pockets
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RACE CARD
6.30pm: Handicap (Turf) US$175,000 1,000m
7.05pm: Al Bastakiya Trial Conditions (Dirt) $100,000 1,900m
7.40pm: Al Rashidiya Group 2 (T) $250,000 1,800m
8.15pm: Handicap (D) $135,000 2,000m
8.50pm: Al Fahidi Fort Group 2 (T) $250,000 1,400m
9.25pm: Handicap (T) $135,000 2,410m.
'Of Love & War'
Lynsey Addario, Penguin Press
Saudi Cup race day
Schedule in UAE time
5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5