Big data analytics powered by AI is providing organizations with valuable insights and tools to make more informed decisions
Big data analytics powered by AI is providing organizations with valuable insights and tools to make more informed decisions
Big data analytics powered by AI is providing organizations with valuable insights and tools to make more informed decisions
Big data analytics powered by AI is providing organizations with valuable insights and tools to make more informed decisions

How big data analytics powered by AI is driving digital transformation



The Middle East is witnessing rapid digital transformation, making it a natural hub for innovation when it comes to the way governments, businesses and communities use technology to make decisions. Since 2020, Presight AI (“Presight”) has been driving the adoption of big data analytics powered by artificial intelligence (“AI”) to gather and analyze large and diverse datasets. Leveraging this, businesses across the region are equipping themselves to create more accurate predictions and insights which support decision making across every sector at scale.

At Presight, we combine big data, technology and people to answer real-world challenges with progressive solutions. Our technology leverages all-source data to support insight-driven decision making to create safer, healthier, happier, and more sustainable societies is becoming more widespread by the day, ultimately driven by a collective mission to create meaningful change and build a better tomorrow, today.

When the UAE prepared to welcome people from around the world to the EXPO 2020 Dubai, there was an opportunity to showcase the potential of Presight’s innovative big data analytics solutions that are now being used to create smarter and more sustainable societies. Almost a year on from the closing of the largest global EXPO yet, its success stands as a testament to the power of big data analytics powered by AI, which played a crucial role in ensuring a safe environment for visitors while also facilitating the smooth operation of an event unmatched in scale.

Presight’s big data analytics powered by AI in action

The success of EXPO 2020 Dubai is evidenced by the 24 million visitors that travelled to the UAE in a period characterized by challenging social distancing and safety restrictions which were addressed through the deployment of cutting-edge AI-enabled technology. Presight’s technology solutions monitored over 100,000 visitors and 6,500 vehicles daily, enabling instant alerts in response to identified security incidents. Across the 4.38km2 site, live feeds of 12,000 CCTV cameras fed into a cloud-based video analytics platform that utilized advanced AI for the detection of a wide variety of security and crowd management scenarios. The platform provided real-time insights and 24/7 situation analysis, allowing the operations and security teams to ensure the safety of everyone on site and respond effectively should any threats to security arise.

The safety measures embedded by Presight were further enhanced using x-ray machines, metal detectors, electronic trace detectors and vehicle access management using intelligent automation, all of which helped to create a secure environment inside EXPO 2020 Dubai’s districts. The safety of visitors was of paramount importance as EXPO 2020 Dubai opened while the world continued to grapple with the COVID-19 pandemic and the impact this had on travel, with many countries striving to keep their borders open.

EXPO 2020 Dubai served as an important first step in demonstrating the transformative power of Presight’s AI-powered technology and big data analytics to provide insights that support decision making, ensure the safety and security of visitors, and optimize operational efficiency. Its success has set the stage and created a dynamic framework for a new era in the way large-scale events are managed, with its world-class technology already being rolled out across other events in the UAE and beyond.

EXPO 2020 Dubai served as an important first step in demonstrating the transformative power of AI-powered technology and big data analytics
EXPO 2020 Dubai served as an important first step in demonstrating the transformative power of AI-powered technology and big data analytics

Pioneering digital transformation at scale

Now, you may be pondering “What does this mean for me?” when it comes to the use of big data analytics and AI beyond large-scale events. In fact, they are increasingly being used to bring significant benefits across multiple sectors with new discoveries and applications being developed on a daily basis. Through the application of big data analytics, organizations can analyse vast amounts of data to uncover new insights at an accelerating pace and identify opportunities that were previously unavailable. CEO of Presight, Thomas Pramotedham, said: “From public services to finance and even sports, big data analytics powered by AI are providing organizations with valuable insights and tools to make more informed decisions and respond accordingly to unlock positive, societal impact.

The Middle East’s pioneering approach to embracing the use of technology, coupled with its modern infrastructure and a regulatory sandbox environment, is enabling the region to emerge as a global springboard for innovation. The region is well positioned to lead the charge as a hub for digital transformation, driving economic growth and improving quality of life for its citizens.

Presight CEO Thomas Pramotedham
Presight CEO Thomas Pramotedham

At Presight, the shifting sands of digital transformation are integral to our mission to help shape tomorrow’s world for the better. Presight was born of the cumulation of the most advanced technology, the brightest and most creative people around, and it is our responsibility to lead the charge of digital transformation and support the UAE to meet its digitization ambitions. We approach problem-solving and decision-making through a 360-degree lens that enables our business to empower organizations to adopt these technologies and create a positive, tangible and immediate impact with a long-term view.

As we continue to navigate the ever-evolving landscape of technology in the pursuit of improving our daily lives, it’s vital we remember the lessons learned from pivotal events such as EXPO 2020 Dubai, serving as a reminder that technology, when used wisely, has the power to help us overcome even the greatest of challenges.

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Brief scores:

Toss: Australia, chose to bat

Australia: 272-9 (50 ov)

Khawaja 100, Handscomb 52; Bhuvneshwar 3-48

India: 237 (50 ov)

Rohit 56, Bhuvneshwar 46; Zampa 3-46

Player of the Match: Usman Khawaja (Australia)

Player of the Series: Usman Khawaja (Australia)

How to vote

Canadians living in the UAE can register to vote online and be added to the International Register of Electors.

They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi

Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday) 

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

MATCH INFO

Euro 2020 qualifier

Fixture: Liechtenstein v Italy, Tuesday, 10.45pm (UAE)

TV: Match is shown on BeIN Sports

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COMPANY PROFILE

Name: Rain Management

Year started: 2017

Based: Bahrain

Employees: 100-120

Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund

Profile of Tamatem

Date started: March 2013

Founder: Hussam Hammo

Based: Amman, Jordan

Employees: 55

Funding: $6m

Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media

RESULT

RS Leipzig 3 

Marcel Sabitzer 10', 21'

Emil Forsberg 87'

Tottenham 0

 

Updated: March 01, 2023, 11:51 AM