For most of modern economic history, “execution” was king. Ideas were cheap, it was said – everyone had them.
What mattered was the ability to execute: to build, to scale, to distribute. More importantly, execution was expensive and a whole domain of science and management studies emerged to make execution more efficient. Investors sought founders who could deliver, not just dream. Societies built institutions to train doers, not dreamers.
But that era is ending.
In the age of “Agentic AI” and autonomous machines, execution is no longer the scarce resource. Machines can now write code, draft business plans, design user interfaces, produce content and even negotiate contracts. Tasks that once required teams of specialists can now be performed by a single person with a laptop and a prompt.
The startup founder no longer needs a co-founder who codes. The consultant doesn’t need a deck designer. The architect doesn’t need a draughtsman. What they need – what everyone needs – is an idea that makes them stand out.
In this new landscape, the bottleneck has shifted. Execution is abundant, commoditised and near-instant. The real scarcity now is ideation: the ability to imagine the new, the meaningful, the differentiated. And this kind of thinking comes less from the Stem subjects and more from the arts, the humanities and the social sciences.
Ideas are not found in nature. They are not discovered through logic or experimentation. They are created – shaped by metaphor, story, analogy, irony, critique and context. They are cultivated in literature, philosophy, history, anthropology, design and music. They draw on cultural archetypes and human experience before they are converted into logic and formulas.
Stem disciplines are essential, but they serve a different function – they test the feasibility and validity of our ideas. Science and technology build on our ideas. Engineering applies them. Mathematics calibrates them. These are disciplines of precision, proof and performance. But the eureka moment that reframes a problem, that imagines a new use, or sees a system from an unexpected angle – that spark lives elsewhere.
The arts, humanities and social sciences train people not just to analyse, but to interpret, reimagine and contextualise. In a world where machines are rapidly absorbing the burden of execution, it is these capabilities that will make all the difference.
Despite their rising importance, universities around the world have been reallocating resources away from the idea disciplines. In the UK, for example, student enrolment in humanities has been falling: it dropped from 28 per cent in 1961-62 to just 8 per cent in 2019-20. Departments are being closed.
In the US, the American Academy of Arts and Sciences reported a 24 per cent drop in undergraduate degrees awarded in the humanities between 2012 and 2022, falling below 200,000 for the first time in more than two decades. This decline is particularly acute in traditional disciplines like English and history. The number of English majors, for example, has plummeted by about half since the late 1990s, while history majors saw a 45 per cent decrease from their 2007 peak.
To meet the demands of this new era, we must stop treating the humanities as luxuries. They are not ornamental. They are foundational. They are the disciplines that train people to imagine, narrate and reinterpret a world in flux
The decline in humanities enrolment goes beyond the Anglo-American world. In Germany, the Federal Statistical Office – better known as Destatis – reports a 22 per cent drop in humanities students over the past two decades, with their proportion of all university students shrinking from 17 per cent to just 10 per cent by 2023, largely due to a societal push towards Stem and health sciences.
Similarly, France, traditionally a bastion for the humanities with about 21 per cent of its undergraduates enrolled in arts and humanities, faces significant challenges keeping up the interest in these fields as they became increasingly as less “useful” for career paths outside of elite academia.
This is a strategic error, a misreading of where value is migrating in the 21st century. It stems from a crude utilitarian logic that assumes that only what is directly applicable is economically valuable. But in the AI era, application is increasingly easier and ideation – that is, coming up with original ideas – is becoming harder.
Societies risk losing their comparative advantage as a consequence of underinvesting in the idea disciplines. To be more exact, as they become increasingly capable of doing things quickly, the only differentiator will be the quality, relevance and originality of ideas.
It is not all doom and gloom for arts and humanities.
According to OECD data, Japan, Italy and Sweden continue to have above 20 per cent of their graduates enrolled in the arts and humanities. Italy stands out in Europe, with 22 per cent of all graduates specialising in literature, philosophy, history, or the arts.
This is a significantly higher percentage than many other European nations (Switzerland is 6 per cent and the Netherlands 7 per cent) and suggests that the humanities retain a stronger foothold in Italy’s higher education system. This could be attributed to Italy’s rich cultural heritage and a traditionally strong emphasis on classical and humanistic studies within its education system.
“Imagination is more important than knowledge. For knowledge is limited, while imagination embraces the entire world,” Albert Einstein once said.
To meet the demands of this new era, we must stop treating the humanities as luxuries. They are not ornamental. They are foundational. They are the disciplines that train people to imagine, narrate and reinterpret a world in flux.
Policymakers, universities and employers must invest accordingly. This means funding the very departments being closed. It means integrating arts and social theory into AI and tech curriculums. And it means cultivating talent who can pose better questions – not just deliver faster answers. The future belongs to those who can generate meaning, not merely output.
The age of AI is not an age without humans – it is an age where the most human faculties become the most essential.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%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
The five pillars of Islam
Sholto Byrnes on Myanmar politics
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
Messi at the Copa America
2007 – lost 3-0 to Brazil in the final
2011 – lost to Uruguay on penalties in the quarter-finals
2015 – lost to Chile on penalties in the final
2016 – lost to Chile on penalties in the final
JUDAS AND THE BLACK MESSIAH
Directed by: Shaka King
Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons
Four stars
Ireland v Denmark: The last two years
Denmark 1-1 Ireland
7/06/19, Euro 2020 qualifier
Denmark 0-0 Ireland
19/11/2018, Nations League
Ireland 0-0 Denmark
13/10/2018, Nations League
Ireland 1 Denmark 5
14/11/2017, World Cup qualifier
Denmark 0-0 Ireland
11/11/2017, World Cup qualifier
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,200m, Winner: ES Rubban, Antonio Fresu (jockey), Ibrahim Aseel (trainer)
5.30pm: Handicap (PA) Dh85,000 (T) 1,200m, Winner: Al Mobher, Sczcepan Mazur, Ibrahim Al Hadhrami
6pm: Handicap (PA) Dh80,000 (T) 2,200m, Winner: Jabalini, Tadhg O’Shea, Ibrahim Al Hadhrami
6.30pm: Wathba Stallions Cup (PA) Dh70,000 (T) 2,200m, Winner: AF Abahe, Tadgh O’Shea, Ernst Oertel
7pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: AF Makerah, Tadhg O’Shea, Ernst Oertel
7.30pm: Maiden (TB) Dh80,000 (T) 1,600m, Winner: Law Of Peace, Tadhg O’Shea, Satish Seemar
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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The specs: 2018 Renault Megane
Price, base / as tested Dh52,900 / Dh59,200
Engine 1.6L in-line four-cylinder
Transmission Continuously variable transmission
Power 115hp @ 5,500rpm
Torque 156Nm @ 4,000rpm
Fuel economy, combined 6.6L / 100km
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Results
2.30pm: Park Avenue – Conditions (PA) Dh80,000 (Dirt) 2,000m; Winner: Rb Seqondtonone, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)
3.05pm: Al Furjan – Maiden (TB) Dh82,500 (Turf) 1,200m; Winner: Bosphorus, Dane O’Neill, Bhupat Seemar
3.40pm: Mina – Rated Condition (TB) Dh105,000 (D) 1,600m; Winner: Royal Mews, Tadhg O’Shea, Bhupat Seemar
4.15pm: Aliyah – Handicap (TB) Dh87,500 (T) 1,900m; Winner: Ursa Minor, Ray Dawson, Ahmad bin Harmash
4.50pm: Riviera Beach – Rated Conditions (TB) Dh95,000 (D) 2,200m; Winner: Woodditton, Saif Al Balushi, Ahmad bin Harmash
5.25pm: Riviera – Handicap (TB) Dh2,000 (T) 2,000m; Winner: Al Madhar, Antonio Fresu, Musabah Al Muhairi
6pm: Creek Views – Handicap (TB) Dh95,000 (T) 1,400m; Winner: Al Salt, Dane O’Neill, Erwan Charpy