According to the IBM Global AI Adoption Index 2023, 42 percent of businesses in the UAE have already incorporated artificial intelligence (AI) in their day-to-day operations.

This indicates the country’s continuous efforts towards technological advancement and digital transformation.

IBM conducted two studies that revealed the growing acceptance of AI in business operations and the retail sector, not only in the UAE but also in the wider Middle East and Africa (MEA) region.

The first study, the 2023 Global AI Adoption Index by Morning Consult, provides insights from companies in the UAE. The second study, ‘Revolutionize retail with AI everywhere: Customers won’t wait’, focuses on the retail sector.

These studies demonstrate the transformative effect of AI on reshaping business strategies, enhancing operational efficiency, and revolutionizing the retail landscape to meet evolving consumer expectations.

The IBM Global AI Adoption Index 2023 surveyed over 8,500 IT professionals, including some from the UAE. The study shows a rapid adoption and integration of AI into different business sectors, with 65 percent of IT professionals in the UAE reporting an increase in AI adoption over the past two years.

This has resulted in reshaping the way businesses operate, and increased efficiency, innovation, and competitiveness in the UAE market.

With 42 percent of companies already using Artificial intelligence, the UAE is emerging as a frontrunner in technological advancement in the region.

The study also reveals that 34 percent of companies in the UAE have a comprehensive AI strategy, while an additional 30 percent are in the process of developing one.

The reasons for Artificial intelligence adoption in the UAE include the increasing integration of AI in standard business applications, cost reduction, and automation of essential processes.

In addition to the UAE findings, IBM’s retail and AI research highlights consumer preferences and demands in the MEA region. Despite a preference for physical stores, only three percent of MEA consumers are satisfied with the in-store experience.

However, 75 percent of MEA consumers are supplementing their in-store experiences with mobile applications, indicating a shift towards a digitally integrated shopping experience.

It has immense potential to enhance the shopping journey, with nine out of every ten consumers expressing interest in AI applications for shopping.

Meanwhile, 75 percent of MEA respondents are eager for AI applications, and 67 percent for Artificial intelligence enhancements like virtual assistants.

IBM:

The post Ai is involved with more than 42% of UAE based companies appeared first on ByMENA.

Dubai’s 81st meeting of the Supreme Council of Energy was chaired by H.H. Sheikh Ahmed bin Saeed Al Maktoum, the council’s Chairman.

The meeting was held virtually and attended by Saeed Mohammed Al Tayer, the Vice Chairman of the Dubai Supreme Council of Energy.

Other attendees included Ahmed Buti Al Muhairbi, the Secretary-General of the Dubai Supreme Council of Energy, and board members from various organizations.

The council discussed the Demand Side Management Strategy for 2030 and 2050, which aims to reduce water and electricity consumption through green building activities, building retrofits, efficient operation of industrial and government facilities, and the use of treated wastewater, external lighting, and cooling.

The council is committed to making Dubai a leading example in efficient energy and water demand management.

Al Tayer mentioned that the council regularly reviews programs to reduce water and electricity consumption with the participation of public and private organizations, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to promote a green economy and sustainable development.

The council’s efforts aim to achieve standards and mechanisms that demonstrate the effectiveness of implementation and the percentages achieved in energy resource management.

Al Muhairbi noted that updating the council’s existing strategies reflects the degrees of achievement of the set goals to ensure the effectiveness of the existing programs, aligned with the desired goals in the areas of sustainable development for Dubai.

The council also discussed recommendations to increase the infrastructure for electric vehicle charging stations across the Emirate.

The council looks forward to supporting private companies in building and installing charging stations in line with the public-private partnership model.

As of the end of January, the number of electric and hybrid vehicles in Dubai reached 49,300, and more than 390 charging stations were installed.

The number of charging stations will increase in the coming years.

More on Visions:

vision2030.

vision2040.

The post DSCE to increase energy and water efficiency in Dubai. appeared first on ByMENA.

Shell has recently released its first progress report on energy transition, after the implementation of its Powering Progress strategy in 2021.

During the Capital Markets Day event in June 2023, Shell emphasized how its strategy is designed to generate more value while producing fewer emissions, with a particular emphasis on the “more value” aspect.

This energy transition update focuses on how the strategy effectively delivers “fewer emissions.”

Shell aims to achieve net-zero emissions across all operations and energy products by 2050, which marks a significant shift for the business.

The company is confident that this commitment aligns with the ambitious objectives of the Paris Agreement, which aims to limit global warming to 1.5°C above pre-industrial levels.

Shell’s approach advocates for a balanced and orderly transition from fossil fuels to low-carbon energy solutions, ensuring that energy remains secure and affordable.

According to Wael Sawan, Shell’s CEO, “Energy has significantly contributed to human progress, enabling many worldwide to lead more prosperous lives. Currently, the global community faces the dual challenge of meeting increased energy demands while addressing the pressing issue of climate change. The swift advancements in energy transition observed in recent years across various countries and technologies bolster my firm belief in our strategic direction.”

Sawan further remarked, “Our investment of $10-15bn between 2023 and 2025 in low-carbon energy solutions positions us as a major player in the energy transition.

“Moreover, in 2023, our expenditure on low-carbon solutions reached $5.6bn, accounting for over 23% of our total capital investment” He added.

Shell’s investments in emerging technologies, including electric vehicle charging infrastructure, biofuels, renewable energy, hydrogen, and carbon capture and storage, are instrumental in reducing emissions for both Shell and its customers.

More on Shell:

The company aims to scale these technologies to ensure they become an economical option for consumers.

Shell’s advocacy efforts are now focused on pivotal areas deemed essential for the energy transition, such as supporting policies that align with national net-zero goals, including carbon pricing, providing the secure energy supply the world requires, influencing demand shifts, and expanding low-carbon solutions.

In 2023, Shell surpassed 60% of its objective to cut emissions from its operations in half by 2030, relative to its 2016 levels.

This exceeds the commitments made by the signatories of the Oil and Gas Decarbonization Charter established at COP28.

Shell was among the pioneers in setting a goal for near-zero methane emissions by 2030.

In 2023, the company attained a methane emissions intensity of just 0.05%, well below its target of 0.2%. Additionally, Shell contributed to the World Bank’s Global Flaring and Methane Reduction Fund in 2023, further endorsing collective efforts to minimize methane emissions and flaring.

“In 2023, we met our objective to lower the net carbon intensity of the energy products we offer, achieving a 6.3% reduction from 2016 levels – marking the third year in a row we’ve reached our goal,” Sawan observed. “To further the decarbonization of the transport sector, we’ve set a new goal to reduce emissions from the use of our oil products by 15-20% by 2030, in comparison to 2021 divs.

He exclaimed that “We are expanding our power business, including renewable energy ventures, in regions such as Australia, Europe, India, and the USA, and have ceased direct energy supply to residential homes in Europe.”

More on vision2030:

The post Shell invests $15 billion in alternative energy solutions. appeared first on ByMENA.

Jubail, a member of UNESCO’s Global Network of Learning Cities in Saudi Arabia, is set to host the sixth International Conference on Learning Cities from December 3rd to 5th. 

During the announcement on Thursday, Isabell Kempf, the director of the UNESCO Institute for Lifelong Learning, emphasized the unique position of UNESCO learning cities to instill climate consciousness and equip local residents with the necessary green skills for a sustainable society. 

The event will take place at the offices of the Royal Commission for Jubail and Yanbu in the Jubail Industrial City, which is preparing to celebrate its 50th anniversary. 

King Salman will be the patron of the conference, in keeping with his views on the importance of international cooperation in efforts to confront global challenges and achieve sustainable development through education. 

The conference provides an opportunity to exchange experiences and ideas with cities around the world and develop joint action plans to enhance the role of learning cities in facing global challenges, especially climate change. 

Jubail was chosen to host the conference in recognition of its commitment to the event, the initiatives it has developed to enhance lifelong learning opportunities for all, and its active participation in the network since joining in 2020. 

In 2021, Jubail Industrial City received the UNESCO Learning Cities Award for its efforts to enhance sustainable development, boost entrepreneurship, and improve skills, in keeping with the spirit of the network. 

The theme of the conference will be “Learning Cities at the Forefront of Climate Action,” which aligns with the aims of the Saudi and UNESCO’s commitment to sustainable development. Middle East Green Initiatives launched in 2021 by Crown Prince Mohammed bin Salman, chairman of the Supreme Committee for Green Saudi Arabia.  

“The UNESCO Learning City pointed to national programs launched as part of the Saudi Vision 2030, such as the Human Capability Development Program, aimed at building a national strategy for the development of citizens’ capabilities,” the Institute for Lifelong Learning said.  

“Adopting a lifelong-learning perspective and involving the participation of government agencies, the private sector and the non-profit sector, this strategy stretches from early childhood through to general education, The upcoming conference in December will bring together municipal officials, people interested in the field of learning and education, and representatives of the UNESCO Global Network of Learning Cities. The goal of the conference is to exchange information, ideas, solutions, and best practices that promote lifelong learning, which includes university education, technical and vocational training, and continuous training.  

The UNESCO Global Network of Learning Cities is composed of 356 cities in 79 countries that promote learning within families and communities, facilitate learning in the workplace through modern technologies, and foster a culture of lifelong learning among member cities. This helps promote individual empowerment, social inclusion, economic development, cultural prosperity, and sustainable development.  

The Institute for Lifelong Learning said that during the conference, participants, including policymakers, learning city mayors, lifelong learning and sustainability experts, private-sector representatives, NGOs, civil society, researchers, educators, and United Nations entities, will work together to identify and strengthen lifelong learning policies for climate action, resilience, and the establishment of sustainable cities. 

More on Vision2030:

The post Jubail will be hosting UNESCO’s 6th International Conference. appeared first on ByMENA.

According to the state-owned Saudi Press Agency, the international technology conference LEAP 24 has attracted investment deals worth $888 million. 

The investments include funds for venture capital and start-ups and are intended to support innovation and tech entrepreneurship in the region.  

Investcorp launched a $500 million fund to target Saudi businesses in their growth stages. 

 The National Development Fund and the Social Development Bank established the $40 million Gaming and Esports Investment Fund, managed by Impact46. 

Merak Capital also established an $80 million fund to back game accelerators in the kingdom.  

Furthermore, another fund worth $50 million was launched by Takamol Holdings to support early-stage firms, while Plug and Play and X by Unifonic announced two more funds to support technology start-ups and business software services for young businesses.  

In addition, Saudi-based start-ups raised a total investment of $53.4 million. Among them, BRKZ, an international information technology firm secured $8 million in a Series A round. 

 FanZ, an AI-enabled sport tech secured $1.5 million in pre-seed funding, and Lawazem, an online B2B supplies player secured $8 million, among many others. 

About LEAP 2024: 

LEAP 2024 was a highly successful technological conference that attracted 50,000 guests from outside the Kingdom.  

Al-Khamisi proudly declared it as the most attended conference of its kind in the world, with a total of 215,000 visitors. 

This contributed to a surge in hotel occupancy rates in Riyadh, which reached 99 percent during the conference. Furthermore, many new projects were announced at the event. 

investments totaling $13.4 billion, showcasing the Kingdom’s growing economy in the global tech landscape. 

 Read More about LEAP 2024

The post Saudi Arabia attracts Investments through LEAP 2024 appeared first on ByMENA.

Start-ups in the Middle East and North Africa (MENA) region, particularly in the UAE, have continued to dominate in terms of fundraising.

In February alone, over $65 million was raised in 22 deals, with half of the amount going to Flare Network which is a blockchain built for secure decentralized connectivity with other data sources.

A report from Wamda and Digital Digest revealed that young businesses in Saudi Arabia raised the second-highest capital, securing $39 million in three investment rounds.

Egypt came third in the list, raising $4.6 million, followed by Morocco ($1.6 million), Kuwait ($300,000), Iraq ($150,000), and Bahrain ($130,000).

In terms of the number of deals, the UAE also led the table with a total of 22 investments, followed by Saudi Arabia, which saw seven deals.

The total funds raised in the MENA region stood at $88.7 million across 37 deals, registering a modest growth of 2% compared to the previous month.

However, when compared to the previous year, last month’s investments in start-ups fell by 88%, reflecting a global slowdown.

According to Crunchbase, start-ups across the globe raised $285 billion in funding last year, which is a 38% decline from the $462 billion secured in 2022, as venture capital investors held back investments.

This aligns with both countries’ visions to diversify their economies further away from oil exports and include more sustainable futures, vision2040 and vision2030 respectively.

The post Startups in the UAE amount to the highest raised capital in MENA. appeared first on ByMENA.

The UAE commits USD30 billion to Alterra, a climate investment fund launched at the United Nation’s climate change conference (COP28), making it the largest private investment fund for climate change.

Alterra’s primary objective is to concentrate on climate investments in emerging markets and developing economies, studies have revealed that there is an increasing funding shortfall in these regions.

The World Bank estimates that the escalating disparity to finance the climate transition is equivalent to the gap between the USD100 billion per annum committed by donor countries and the more than USD2.4 trillion required yearly by 2030.

Alterra’s plan involves two sections, the first one with USD25 billion pledged to invest to accelerate the transformation to a net-zero climate-resilient economy.

The second part, with funding of USD5 billion, is designed to mitigate risk to further incentivize investments into the global south.

Quotes:

Majid Al Suwaidi, CEO of Alterra and Director-General of cop28 in a panel discussion said, “The fund aims to amass and distribute USD250 billion globally by 2030”.

Al Suwaidi added: “The vision for Alterra was borne out of the COP28 Presidency’s Action Agenda focus on how we can make climate finance more available, accessible and affordable for all, and remove barriers impeding investment – especially into the Global South. Alterra is a key element in the COP28 Presidential Action Plan to help drive climate investment to the solutions and markets where it is most needed.”

During the panel session, the following individuals participated: Dr. Mahmoud Mohieldin, Executive Director at the International Monetary Fund; Rajiv Dhar, Board Member of the National Infrastructure Investment Fund and Head of US India Green Fund; Arvind Ramamurthy, Chief Market Development Officer at Abu Dhabi Global Market (ADGM); and Samir Suleymanov, Director of Finance at COP28.

The post Alterra Climate Fund to reach USD250 billion by 2030. appeared first on ByMENA.

The opening day featured presentations from tech giants such as HTC, Accenture, and Microsoft. Dr Yaser Al-Onaizan, CEO of SDAIA, inaugurated the event by introducing the day’s theme as “The Dawn of AI” in front of a diverse audience of international thought leaders, practitioners, policymakers, and academics from different fields.

Al-Onaizan revealed that this week’s participants include people from big companies such as Google, Meta, and Huawei, as well as entrepreneurs and smaller companies, and people working in AI from some of the world’s leading universities, such as Stanford and Berkeley.

The opening ceremony also marked the public debut of Mohammad the Humanoid Robot, QSS Systems’ latest Saudi-made bilingual robot, and the male counterpart of SARA, the first humanoid robot built in the Kingdom. Mohammad addressed the audience in flawless Arabic while gesticulating with his hands, introducing himself as the first Saudi robot in the form of a man.

He explained that he was developed in the Kingdom of Saudi Arabia as a national project to showcase the country’s achievements in the field of artificial intelligence and inspire a new generation of AI enthusiasts.

On the DeepMedia Stage, Waseem Sayegh, Head of Live Ops at TikTok METAP, delivered a keynote address about the evolution of media from the first public television demonstration in 1927 to the present-day internet age. He highlighted the power of online creation and how TikTok users can showcase Saudi culture to the world, build partnerships, relationships, and careers.

He also mentioned the recent tribute to Saudi Arabia launched on TikTok, which celebrated Foundation Day and broadcasted Saudi culture to billions of people worldwide through thousands of hours of content created by thousands of creators.

Sayegh then provided examples of regional creators who have used TikTok accounts to develop their careers, from a Saudi cooking influencer who renowned chef Jamie Oliver invited to review his restaurant, to a UAE-based fashion influencer who has launched her own clothing label and is in the process of creating her first makeup At the DeepFest Main Stage, Omar Hatamleh, the award-winning Chief Advisor of AI and Innovation at NASA, delivered a 20-minute presentation that covered various topics.

He spoke about racial and gender bias in AI, 3D printing of biological organs based on genetics, collective learning in the automobile industry, and the economic impact of longevity. He also highlighted the potential negative impact on humans’ cognitive skills through increased use of AI.

Hatamleh, who holds four engineering degrees and speaks four languages, showed a short video of two men attacking a mechanical robot and asked the audience if they felt empathy for the faceless, metal robot. Only a few hands went up.

He then posed a philosophical question, “What if this robot looked like a human, understood you, and was able to empathize with you on a deeper level than anybody else in the world?” Hatamleh has received multiple awards and recognitions from NASA, including the Silver Achievement Medal, the NASA Innovation Award, and the Superior Achievement Award.

In his closing comments, Hatamleh urged strategists to see things from different perspectives. He compared it to how astronauts look at the globe from space and see an incredibly beautiful planet without borders or countries. He then comes back to Earth with a transformed mind.

Gary Sorrentino, the Global CIO at Zoom Inc., shared his perspective on the new economy of ‘New Collar Workers’ who are becoming a challenge for employers today. These workers have proved they can do high-level work as well as showing they do not need to do it in an office.

Sorrentino urged corporate leaders to learn from past technological advancements. He emphasized that when it comes to AI, you can’t just turn it on. Instead, you need to figure out how to operationalize it and teach employees how to use it.

He used spreadsheets as an example, stating that even though the most famous spreadsheet software was created 30 years ago, we still only use two percent of it.

DeepFest, which runs from March 4-7 at the Riyadh Exhibition and Convention Centre in Malham, continues Tuesday with presentations from Google, Meta, the US Chamber of Commerce, Noon, and many others. The event also includes live demos, training sessions, and start-up pitches.hes.

The post Mohammad The Humanoid Robot was introduced in DeepFest appeared first on ByMENA.

Kaspersky has announced that it has received a Regional Headquarters License (RHQ) in Saudi Arabia from the Kingdom’s Ministry of Investment.

This license shows Kaspersky’s commitment to improving cybersecurity in Saudi Arabia’s economic sectors and strengthens the company’s presence in the country.

The main objective of the Regional Headquarters is to provide comprehensive support for the operational activities of the Kaspersky group of companies in the MENA region, ensuring sustainable business development in Saudi Arabia and the region.

The focus will be on strategic development, threat research and analysis, and the delivery of region-specific services such as Managed Detection and Response (MDR), powered by the Saudi-based SOC, and ICS CERT.

More on Kaspersky:

Kaspersky operates in 200 countries and territories with 34 offices in over 30 countries. In 2022, Kaspersky opened a new office in Riyadh, adding Saudi Arabia to its ever-expanding worldwide network of offices. In 2023, Kaspersky opened its first Transparency Center in Riyadh to serve the entire Middle East region.

With several ongoing and planned initiatives to ensure future readiness with a digital-first approach, the adoption of technologies like 5G, IoT, and artificial intelligence by the Kingdom will potentially increase cybercriminal interest in targeted attacks and cyber threats.

To support the Kingdom’s efforts to build a strong cybersecurity infrastructure, Kaspersky launched the Cyber Generation training and internship program in Saudi Arabia in 2023.

The educational program is designed to increase cybersecurity awareness, enable skills and knowledge sharing, and defend against evolving cyber threats.

Andrey Efremov, Kaspersky’s Chief Business Development Officer, said, “This is a significant milestone on our roadmap for growth in Saudi Arabia, as the Kingdom is rapidly transforming into an economic hub for the region.”

He added “I am very proud that we are part of this transformation, and that our business in the Kingdom is developing successfully. This step will further enhance our ability to better serve customers, partners, and organizations across the region.”

The post Kaspersky receives a Regional HQ license in Saudi Arabia. appeared first on ByMENA.

A new report by consulting firm Oliver Wyman reveals that the commercial aviation fleet is expected to grow by 28% in the next decade, from 28,400 to 36,400 aircraft by 2034.

The Middle East region will see an even more significant increase of 51% from 1,472 to 2,227 planes.

However, COVID-19 has had a lasting impact on the industry, wiping out six years of growth, and the fleet is expected to reach 39,000 planes by 2036.

According to Anthony DiNota, Vice President of Oliver Wyman’s CAVOK, the industry is finally out of recovery mode and on a growth trajectory.

The report also suggests that the Middle East will gain a larger share of the global fleet, due to factors such as its central location, strong established players in the market, and the addition of new players.

The region’s economic diversification plans will also play a significant role in fueling the growth of the aviation industry.

The report further predicts that the maintenance, repair, and overhaul (MRO) sector will grow by almost 3% in 2024, reaching $104 billion.

It is expected to expand by an average of 1.8% annually The forecast has revealed some key findings regarding the aviation industry worldwide.

Firstly, the industry has now matched its pre-COVID peak globally, but growth moving forward will be slower.

The fleet is expected to expand at a rate of 2.5% annually, compared to the 2.9% projected in the previous forecast.

Narrowbodies will see a steady increase in their share of the fleet, rising from 61% in 2024 to 63% in 2034. The growth is driven by the resurgence of domestic air travel worldwide, which is projected to surpass the pre-COVID peak.

Secondly, the Middle East fleet is projected to grow at an annual rate of 4.2% from 2024 to 2034, outstripping growth rates in most parts of the world, including Africa (2.3%), Latin America (1.9%), North America (1.8%), and Western Europe (1.0%). Narrowbodies will be the primary driver of this growth.

In this region, narrowbodies will climb from 40% to 47% of the fleet over the decade, while widebodies will decrease from 56% to 50%.

Thirdly, India will overtake China as the industry’s growth leader for the first time ever, with the Indian fleet expected to expand almost 13% over the first five years of the forecast period and nearly 10% for the entire 10 years. Currently at about 600 planes, the Indian fleet will be 2.5 times the size it is today by 2034.

Lastly, the aviation’s global aftermarket, known as MRO, keeps aircraft flying. The overall MRO market in the Middle East is expected to grow at an annual rate of 2.3% (vs. 1.8% globally) from 2023 to 2034 and will be driven by local capabilities development to capture value leakage. It is slated to be worth nearly $16 billion by 2034 (vs. $124 billion globally).ion globally).

The post Commercial aircraft fleet estimated to grow by 28% appeared first on ByMENA.