Artificial intelligence is helping doctors to make better decisions and improve patient care, the president of Abu Dhabi’s pioneering artificial intelligence university has said.
Professor Eric Xing, head of Mohamed bin Zayed University of Artificial Intelligence, said health care is ideal as an application for AI because it generates so much data, as proven by the Covid-19 pandemic.
During an interview with state news agency Wam, Prof Xing cautioned that healthcare providers had yet to realise its full potential. He also spoke of the university’s aspirations to build a new generation of entrepreneurs in Abu Dhabi, a feat Stanford University has achieved in the US through Silicon Valley.
It is the dandelion effect at work – as the wind blows, the seeds spread
Professor Eric Xing
“AI can help doctors derive more insights from clinical data to improve their understanding of their patients and make better decisions,” Prof Xing said. “Unlike human doctors, AI can analyse the data of millions of patients at once.”
Prof Xing said the Covid-19 pandemic highlighted the potential of AI, with scientists using it to research vaccines, monitor the spread of the coronavirus and conduct contact tracing.
“We have prioritised AI and healthcare in our research at MBZUAI since its inception,” he said. Prof Xing described the work as “safe and responsible AI”.
The university was launched in 2019 and Prof Xing became president a year later. The first postgraduate students enrolled in January.
MBZUAI aims to create a world-class centre for AI learning, research and development in the UAE to help build the country’s knowledge economy.
Prof Xing was previously associate head of research at Carnegie Mellon University’s machine learning department, one of the leading AI research institutes in the world.
Another area ripe for research was energy, he said. AI could develop models for oil recovery, reduce carbon emissions, increase water and power efficiency, and manage other aspects of energy generation, shipment and transmission.
To Prof Xing, creating a university dedicated to AI is a unique experiment. He said that very few universities in the world specialise in a single discipline, but pointed out that AI touches on biology, chemistry, physics and mathematics, among other subjects.
“Stanford University offers an excellent analogy for MBZUAI,” he said. “Silicon Valley owes its origin and success to Stanford University. The university leased its land to the public and allowed the faculty to build startups.
“As a result, information technology giants such as HP and Dell were founded by students and faculty from Stanford. It is the dandelion effect at work – as the wind blows, the seeds spread.
“Similarly, by nurturing a culture of research and innovation, we are confident we can create a new generation of entrepreneurs in Abu Dhabi.
“Our location at Masdar City, a regional hub for technology innovation, is beneficial as our graduates can quickly assimilate into a thriving innovation-driven environment.”
The university may be young but it is already exploring research opportunities with the Technology Innovation Institute at the Advanced Technology Research Council in the capital.
“We also want to support UAE’s innovation clusters and AI startups, aligned with Abu Dhabi’s ambition to become a leading tech talent and innovation destination,” he said. The university has also taken part in events organised by Hub71, a startup organisation in the city.
Prof Xing was also recently appointed as a council member of the UAE Genomics Council, something of which was very proud.
“The programme aims to transform the health and well-being of Emiratis with genomics and artificial intelligence,” he said. “Genomics promises to make precision medicine treatments a reality.”
Looking ahead, Prof Xing said he wants the university to be a new home for academic and scientific life, building a reputation far beyond the campus walls as a place where progressive thinking flourishes.
“The best universities are not remembered for the technologies they invented. Instead, they are recognised for being a thought capital or a unique symbol of a region’s culture and innovation power. As a new institution, I believe we can create such an environment, adding to the culture while bringing in more new ideas,” he said.
“We are privileged to receive the support and the enthusiasm of both the leadership and the community in ways other graduate schools do not.”
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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ARGENTINA SQUAD
Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez
SPECS
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PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Kamindu Mendis bio
Full name: Pasqual Handi Kamindu Dilanka Mendis
Born: September 30, 1998
Age: 20 years and 26 days
Nationality: Sri Lankan
Major teams Sri Lanka's Under 19 team
Batting style: Left-hander
Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)
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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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
Book%20Details
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COMPANY%20PROFILE
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Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Specs
Engine: 51.5kW electric motor
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Price: From Dh98,800
Available: Now