Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, has been named one of the 100 most influential people in artificial intelligence in a new Time magazine list.
Sheikh Tahnoon, who serves as chairman of Abu Dhabi's leading artificial intelligence and cloud computing group, G42, was joined on the global ranking by high-profile technology leaders such as ChatGPT creator Sam Altman and Meta chief executive Mark Zuckerberg.
Faisal Al Bannai, secretary-general of the Advanced Technology Research Council, was also among the top 100.
In April, Mr Al Bannai was appointed by President Sheikh Mohamed as Adviser for Strategic Research and Advanced Technology Affairs, carrying the rank of a government minister.
The Time100 AI list aims to shine a light on leaders, innovators, shapers and thinkers who are playing a crucial role in harnessing the cutting-edge tool.
Sheikh Tahnoon is part of the Shapers category, which also features representatives from Google and Reddit, plus Hollywood star Scarlett Johansson, who has highlighted the need for the advanced technology's growth to be carefully regulated after telling of her dismay at a ChatGPT voice assistant which sounded "eerily similar to her".
Sheikh Tahnoon has played a significant role in the UAE's efforts to champion the responsible use of artificial intelligence.
In April, G42 received a $1.5 billion investment from Microsoft. The expanded partnership includes the creation of a $1 billion fund to support developers aimed at enhancing the Middle East's technology talent pool.
"Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organisations," said Sheikh Tahnoon at the time.
Mr Al Bannai was included in the "leader" section of the list, which also features technology pioneers Sam Altman and Mark Zuckerberg.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, praised Sheikh Tahnoon and Mr Al Bannai for making the list.
"The homeland is proud of you and is betting on what you bet on and the future is built with you and by you," Sheikh Mohammed wrote on X.
Omar Al Olama, Minister of State for AI, Digital Economy and Remote Work Applications, was part of the inaugural list in September 2023.
The UAE's commitment to the field was demonstrated when it established the Mohamed bin Zayed University of Artificial Intelligence in 2019.
The first batch of students to enrol at Abu Dhabi's artificial intelligence university graduated in January 2023.
A new Abu Dhabi-developed artificial intelligence large language model for Arabic was unveiled last year, aiming to bring one of the world's most widely used languages into the AI mainstream.
Jais, an open-source bilingual Arabic-English model, was developed by Inception, a unit of Abu Dhabi AI company G42, Mohammed bin Zayed University of Artificial Intelligence and Silicon Valley-based Cerebras Systems.
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
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- Fly it within visual line of sight
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- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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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.”
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Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
