Princess Beatrice of York has called for “collaboration” as a way forward for technology and energy leaders to ensure a sustainable future while ensuring a “reinvestment in the human” as technology advances.
Speaking to The National, Princess Beatrice, who has a number of roles related to technology and entrepreneurship, said efforts have to be made to ensure that “dreamers have access to great tools to be able to think differently and ask questions of some of our large systems and actually move the needle for sustainability”.
Princess Beatrice was in the UAE to attend the Enact Majlis which hosted more than 80 leaders working on issues in technology, energy and sustainability.
Convened by Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Managing Director and Group Chief Executive Officer, the event in Abu Dhabi focused on innovative and sustainable ways to provide the energy needed to power technological advances.
She described Enact as “fantastic... as technology does need energy, and energy does need technology to really move the needle for a sustainable future”.
Princess Beatrice said that the “most wonderful thing that I was able to take away from the Enact Majlis was the concept of collaboration”, adding that “what was incredible about this meeting is that it brought together not only those from the technical fields of technology but also energy so you can have a safe place to debate, come together, share ideas, share fears and come together to find solutions”.
Lessons from Cop28
She lauded the inclusive nature of Cop28, held in Dubai last year, saying: “We've learnt so much about collaboration from [Cop28 President] Dr Sultan Al Jaber and the Cop Presidency, with an open invitation for collaboration, that energy and spirit to say that we can't do this alone, it only comes with great partnerships, great conversations, and in moments where you have to lean into what's possible”.
“We really see the legacy of Cop28 and the legacy of a fantastic meeting a year ago that really moved the needle to make sure that we can achieve what we need to achieve for our sustainable goals”.
Calling herself a “technology optimist”, Princess Beatrice said: “With great data and with great technology, we can make better-informed decisions for our sustainable future.” She stressed that there are opportunities with a “fantastic relationship between high-quality data, fantastic professionals, and those who are prepared to invest in this as an opportunity to think about sustainability as well”.
However, she acknowledged the concerns among some that access to technology may not be inclusive and may not address challenges in a manner suited to all. She responded by saying: “We have to ask questions. We have a responsibility to ask questions of this technology as well.”
Asking those questions means connecting between different industries and interests. Princess Beatrice referred to Cop28, saying that “the legacy of Cop 28, the fact that it was hosted here in the UAE as one of the most important energy providers in the world, is in itself a phenomenal opportunity to demonstrate collaboration, making sure there is a voice at the table for those that are in traditional industries to be able to look at how they could do things more sustainably”.
She added that “giving space for people to ask questions, and giving space to people to say I don't have all the answers”.
Overcoming challenges
When asked what prevents some of these partnerships from being realised, Princess Beatrice referenced her mother, Sarah of York. She said: “Sometimes you have to ask permission to clear up a misunderstanding, which is one of my favourite phrases from my mother.”
She added that as different leaders seek to drive change, they must find ways for “everybody to find their niche”, adding “we are the best of all of some of our parts”.
Princess Beatrice said that one of her concerns was that “we have been working in silos for too long”, adding that there is an opportunity to break those barriers down. But that requires strong leadership and effort. She warned about expecting quick solutions, adding: “I don't believe in any way, shape or form that AI has got silver bullet solutions, it is the people who are using these technologies who can make a difference.” However, “AI for good meant a reinvestment in the human”, including digital skills.
The British royal added: “We've got to reinvigorate how the human being is really at the centre of this narrative and investing in the human intelligence to make the most out of these tools.”
Giving talent a platform
Princess Beatrice has advocated for inclusivity in various ways, including for women. She said that there were “really fantastic women working across all of the technology spaces, but we have to be incredibly thoughtful about making sure that our role models do have the platforms that they need in order to thrive”. Part of that means ways to “showcase incredible talent across the board”.
With advancements in AI and the speed of change the world is facing, Princess Beatrice said “there is no sort of end to innovation … it'll constantly be adapting and growing”.
While she works on how AI can be a “force for good”, Princess Beatrice is also actively advocating for the technology to be inclusive. In addition to her work on technology, Princess Beatrice strongly advocates for “dyslexic thinking”, as she has dyslexia.
She explains that “dyslexic thinking, with the use of applied intelligence, can work with a great relationship to make sure that we can ask the best questions and everyone deserves a seat at the table to make sure that these technologies are doing what they need to do and are in the right hands”. She added that “safety and security need to be paramount”.
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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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)
WIDE%20VIEW
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
The years Ramadan fell in May
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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.”
The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
Results
Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
4. Sergio Higuita (COL) EF Education-Nippo 00:00:05
5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates 17:09:26
2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
4. Chris Harper (AUS) Team Jumbo-Visma 00:01:54
5. Neilson Powless (USA) EF Education-Nippo 00:01:56
RESULTS
Men – semi-finals
57kg – Tak Chuen Suen (MAC) beat Phuong Xuan Nguyen (VIE) 29-28; Almaz Sarsembekov (KAZ) beat Zakaria Eljamari (UAE) by points 30-27.
67kg – Mohammed Mardi (UAE) beat Huong The Nguyen (VIE) by points 30-27; Narin Wonglakhon (THA) v Mojtaba Taravati Aram (IRI) by points 29-28.
60kg – Yerkanat Ospan (KAZ) beat Amir Hosein Kaviani (IRI) 30-27; Long Doan Nguyen (VIE) beat Ibrahim Bilal (UAE) 29-28
63.5kg – Abil Galiyev (KAZ) beat Truong Cao Phat (VIE) 30-27; Nouredine Samir (UAE) beat Norapat Khundam (THA) RSC round 3.
71kg – Shaker Al Tekreeti (IRQ) beat Fawzi Baltagi (LBN) 30-27; Amine El Moatassime (UAE) beat Man Kongsib (THA) 29-28
81kg – Ilyass Hbibali (UAE) beat Alexandr Tsarikov (KAZ) 29-28; Khaled Tarraf (LBN) beat Mustafa Al Tekreeti (IRQ) 30-27
86kg – Ali Takaloo (IRI) beat Mohammed Al Qahtani (KSA) RSC round 1; Emil Umayev (KAZ) beat Ahmad Bahman (UAE) TKO round
Company%20profile
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