Mohamed bin Zayed University of Artificial Intelligence is an Abu Dhabi postgraduate institution which was founded in 2019. Photo: Mohamed bin Zayed University of Artificial Intelligence
Mohamed bin Zayed University of Artificial Intelligence is an Abu Dhabi postgraduate institution which was founded in 2019. Photo: Mohamed bin Zayed University of Artificial Intelligence
MBZUAI describes itself as the world’s first graduate research university focused on artificial intelligence and its future applications across industrial sectors. Photo: Mohamed bin Zayed University of Artificial Intelligence
MBZUAI describes itself as the world’s first graduate research university focused on artificial intelligence and its future applications across industrial sectors. Photo: Mohamed bin Zayed University of Artificial Intelligence
Professor Michael Jordan, MBZUAI laureate. Courtesy Mohamed Bin Zayed University of Artificial Intelligence
Professor Michael Jordan, MBZUAI laureate. Courtesy Mohamed Bin Zayed University of Artificial Intelligence
Dignitaries gather at the launch of MBZUAI in 2019. Chris Whiteoak / The National
Dignitaries gather at the launch of MBZUAI in 2019. Chris Whiteoak / The National
MBZUAI says that it aims to advance AI “as a global force for positive progress”. Photo: MBZUAI
MBZUAI says that it aims to advance AI “as a global force for positive progress”. Photo: MBZUAI
Students are offered a full scholarship for the master’s and PhD programmes. Chris Whiteoak / The National
Students are offered a full scholarship for the master’s and PhD programmes. Chris Whiteoak / The National

UAE

Education

Mohamed bin Zayed University of AI to get new supercomputer

Device will be used to accelerate scientific discovery in health care, structural engineering, law enforcement, supply chain management and sustainability

The National

October 11, 2022

  • English
  • Arabic

The Mohamed bin Zayed University of Artificial Intelligence is getting a new supercomputer capable of carrying out the most complex calculations.

Hewlett Packard Enterprise (HPE) announced that it would build the supercomputer, which it says will “enhance the university’s ability to run complex AI models with extremely large data sets, and increase predictability in research analyses in fields including energy, transportation and the environment”.

Supercomputers are far more powerful than general-purpose computers and are typically used to address the most demanding problems in the world.

These include the development of medicines, the fight against the Covid-19 pandemic, the exploration of oil and gas reserves, the simulation of nuclear weapon explosions and weather forecasts.

In October, the National Centre for Meteorology said a supercomputer being developed by HPE was being built to help the UAE’s national forecaster to predict weather patterns more accurately and improve cloud-seeding missions.

In 2020, Group 42, an AI and cloud computing company in Abu Dhabi, offered Artemis — the world’s 26th most powerful supercomputer — to researchers looking to contain the coronavirus.

The university will house the new supercomputer in its Campus Super Computing Centre, where it hopes to hasten the pace of scientific discovery in many areas, including health care, structural engineering, law enforcement, supply chain management and sustainability.

In addition to being a research resource for the faculty and students, the supercomputer will help the university to become an AI talent developer and innovation centre that brings together the business community to drive entrepreneurship in the AI sector.

MBZUAI already is contributing to initiatives such as the Emirati Genome Programme, which uses AI-based tools to extract and interpret large amounts of complex data resulting from DNA sequencing, and a project by the Abu Dhabi Health Services Company, better known as Seha, that uses AI algorithms to predict heart attacks.

“Supercomputing plays an essential role in unleashing AI to achieve significant breakthroughs for organisations worldwide, across public and private sectors,” said Justin Hotard, HPE's executive vice president and general manager for high-performance computing, AI and Labs.

“MBZUAI’s Campus Super Computing Centre is demonstrating this capability to unlock new possibilities in AI and strengthen UAE’s position as an AI-driven nation to advance key initiatives in health care, sustainability and engineering.”

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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.

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

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.”

England ODI squad

Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.

Continental champions

Best Asian Player: Massaki Todokoro (Japan)

Best European Player: Adam Wardzinski (Poland)

Best North & Central American Player: DJ Jackson (United States)

Best African Player: Walter Dos Santos (Angola)

Best Oceanian Player: Lee Ting (Australia)

Best South American Player: Gabriel De Sousa (Brazil)

Best Asian Federation: Saudi Jiu-Jitsu Federation

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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

While you're here
Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

Fitness problems in men's tennis

Andy Murray - hip

Novak Djokovic - elbow

Roger Federer - back

Stan Wawrinka - knee

Kei Nishikori - wrist

Marin Cilic - adductor

More coverage from the Future Forum
Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Virus and the economy
Episode list:

Ep1: A recovery like no other- the unevenness of the economic recovery 

Ep2: PCR and jobs - the future of work - new trends and challenges 

Ep3: The recovery and global trade disruptions - globalisation post-pandemic 

Ep4: Inflation- services and goods - debt risks 

Ep5: Travel and tourism 

Updated: October 11, 2022, 12:46 PM
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