Day: September 6, 2023

30 entrepreneurs have reserved their places in the programs and will create cutting-edge AI solutions throughout the course of the 8-week program.
Since the Dubai Centre for Artificial Intelligence (DCAI) was established earlier this year by the Dubai Future Foundation, 615 startups from 55 different countries have sought to participate in the DCAI’s accelerator programs.

To give advanced technology startups and entrepreneurs the chance to explore AI uses and applications in the government and media sectors at AREA 2071, 30 startups have secured their spots in the programs and will develop their creative AI solutions during the 8-week program.

The first of its kind accelerator was created in collaboration between DCAI and Dubai Future Accelerators, a project of the Dubai Future Foundation (DFF).

The program encourages the creation of ground-breaking AI-based solutions to existing and upcoming problems in two key industries: media and communications and government services.

“The launch of this program follows the establishment of DCAI by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Dubai Executive Council, and Chairman of the Board of Trustees of the Dubai Future Foundation, with the aim of converting Dubai into a global pioneer in the deployment of AI tools in the public sector,” said Saeed Al Falasi, Director of DCAI.

“The DCAI Accelerator Programmes helps the government sector in Dubai by creating new initiatives and identifying fresh approaches to present and upcoming problems,” he stated.

This international program supports startups and business owners from all over the world, strengthening Dubai’s position as a pioneer in utilizing emerging technologies to keep up with quick developments in many industries.

“This program has global significance and has drawn interest internationally,” Al Falasi continued. It symbolizes a cutting-edge strategy by which Dubai hopes to draw digital firms to collaborate with government organizations to use AI tools to shape the future of governance and improve everyone’s quality of life.

The Future of Generative AI in Government Services and the Future of Generative AI in Media and Communications are the two programs that make up the DCAI Accelerator.

The Future of Generative AI in Government Services Program intends to elevate Dubai to the top of the world in terms of governmental services by utilizing technology to the highest levels of speed, quality, and efficiency. The program’s main goals are to improve operational efficiency, develop new, creative services, enhance existing services, and give government workers access to generative AI tools to boost productivity and guarantee that everyone, everywhere may access services.

The Future of Generative AI in Media and Communications Programme is focused on collaborating with international AI startups to use the most recent methods for producing media content, streamline distribution, increase reach, customize user experiences, cut costs, increase quality and income, apply AI for data analysis and strategic planning, and assist advertisers in maximizing their return on investment and personalizing ads using AI.

The DCAI Accelerator Programs give business owners the chance to accelerate their company’s growth and broaden their customer base in new local, regional, and international markets. Additionally, entrepreneurs have the chance to collaborate with governmental organizations and network with professionals and specialists in a variety of emerging industries in the UAE and throughout the world.

A specialized committee made up of specialists in AI applications will assess the projects. Successful candidates will receive invitations to Dubai, where they will collaborate closely with administrative bodies to create their projects and get ready for implementation.

STC announced on Tuesday that it has paid 8.5 billion Saudi riyals ($2.27 billion) for a 9.9% interest in Telefonica, a Spanish company.

STC, the largest mobile operator in the country, will be able to increase its global presence in important markets thanks to the cooperation.

The Middle East and North Africa region’s leading provider of digital goods and services, STC, declared it had no plans to take controlling ownership of Telefonica.

According to Mohammed Al Faisal, chairman of STC Group, “Telefonica and STC Group share a lot in common with a vision to use technology to link people and a strategy to drive growth.”

“STC Group is continuing its growth strategy as we invest in crucial technology and digital infrastructure sectors with this long-term, significant investment,”

One of the biggest telecom firms in the world, Telefonica is based in Madrid and has operations in Brazil, Germany, Spain, and the UK.
In order to increase its free cash flow, which the company estimates might reach €4 billion ($4.3 billion) this year, Telefonica is set to submit a plan in November.
The most recent investment is consistent with STC’s expansion ambitions and growth strategy.

According to investment bank EFG Hermes, “the investment supports STC’s capital recycling efforts and growth strategy to expand in promising markets and profit from the return on these investments, which enhances the company’s ability to invest in new domains and maximize shareholder returns in a sustainable manner.”

The long-term effects of this investment will be favorable, and they won’t have an impact on STC’s approved dividend policy.

STC finished its €1.22 billion acquisition of the communications tower assets from the Netherlands-based United Group last month.

The Internet of Things (IoT) business Machinestalk was purchased in full by iot squared, a joint venture between STC and the Public Investment Fund, the sovereign wealth fund of the monarchy, in the same month.

The Riyadh-based Machinestalk’s field services capabilities, technology, unique IoT platforms, internal development capabilities, local and international partner as well as client contacts will offer value for iot squared, according to a previous article from the Saudi Press Agency.

According to Olayan Alwetaid, chief executive of STC, the company’s investment in Telefonica demonstrates STC’s confidence in the company’s “leadership, strategy, and ability to create value.”

Instead, Mr. Alwetaid added, “We see this as a compelling chance to invest to use our strong balance sheet while maintaining our dividend policy. We are not looking to acquire control or a majority stake.”

Telefonica stated in an SEC filing that it “takes note of STC’s welcoming manner and its backing to the management team, Telefonica’s strategy, and Telefonica’s ability to create value.”

The largest economy in the Arab world, Saudi Arabia, said earlier this year that it will invest more than $9 billion in its technology industry to support the country’s digital transformation.

According to Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, the investments are spearheaded by a $2.1 billion promise from Microsoft, which would develop a super-scaler cloud in the nation.

They also include $400 million from China’s Huawei to improve Saudi Arabia’s cloud infrastructure as well as Oracle’s promises to contribute $1.5 billion to increase the nation’s cloud computing capacity.

Big data analytics, AI, machine learning, and the Internet of Things are all expected to increase productivity and operational effectiveness.
According to the chief executive of Emirates Integrated Telecommunications Company, investments in critical information and communications technology verticals are anticipated to be vital in advancing the UAE’s sustainability goals as it prepares for the economy of the future.

According to Fahad Al Hassawi, who spoke to The National on the sidelines of the Envision conference in Dubai, four emerging technologies—the Internet of Things, artificial intelligence, machine learning, and big data analytics—are expected to boost operational effectiveness and productivity across a range of industries.

In cooperation with the International Data Corporation and the UAE Ministry of Industry and Advanced Technologies, Envision, hosted by EITC, also known as du, took place.

They can increase efficiency by implementing these technologies in important industries like manufacturing, agriculture, and smart cities, among others.
“With innovations spanning many sectors, ICT is a cornerstone in the UAE’s drive toward sustainability and plays an essential part in encouraging sustainability through facilitating innovations in many sectors,”

Real-time data analysis and collection will revolutionize decision-making procedures and spur innovation to new heights. In addition, he added, digitalization investments aimed at implementing automation, robotics, machine learning, and digital twins in various sectors of the economy will help lead initiatives to promote sustainability through lower carbon emissions.

Data-driven approaches to waste management and water conservation will save expenditures on an annual basis and boost the nation’s gross domestic product.

The UAE is making significant investments in its technical capabilities and launching a number of initiatives as it gets ready for the future economy.

According to the most recent data from the Ministry of Economy, ICT spending in the UAE is anticipated to reach $23 billion in 2024, representing a compound annual growth rate of 8% from 2019.

According to the report, the contribution of AI alone is anticipated to reach $96 billion by 2030, or 14% of GDP.

According to Statista estimates, global ICT spending is anticipated to reach $5.8 trillion in 2023, an increase of 6.4% year from 2022.

economic expansion
The UAE’s Net Zero 2050 Strategic Initiative, which aims for Dh600 billion ($163 billion) in investments in clean and renewable energy sources over the next three decades, is supported in large part by advanced technologies.

In addition to promoting economic growth, ICT solutions also help achieve environmental objectives, according to Mr. Al Hassawi.

The development and implementation of “smart cities,” which are being promoted by various nations, encapsulates the significance of cutting-edge technologies.

According to Mr. Al Hassawi, they are “being crafted” in the UAE with an emphasis on streamlining public services, transportation infrastructure, and energy use.

According to statistics from Research and Markets, the market for smart cities will grow more than 2.5 times to $1.52 trillion by 2030 from an estimated $594.4 billion this year.

“The UAE is at the forefront of pioneering the merging of technology and sustainability in urban development as a result of leveraging the benefits of technology in urban environments,”

With an emphasis on technology and sustainability, the UAE continues to grow its manufacturing and industrial sectors.

By boosting the use of machine learning, deep learning, AI, additive manufacturing, and the Internet of Things in the value and supply chains that underpin the UAE, its Industry 4.0 initiative, which was unveiled in October 2021, aims to help the country realize its economic potential.

In addition to implementing waste-to-energy projects in Abu Dhabi, Dubai, and Sharjah, the UAE is additionally implementing other sustainability initiatives and will be hosting the Cop28 climate summit in November.
When finished, it is predicted that these projects will supply energy to hundreds of thousands of residences.

The UAE’s dedication to ensuring its citizens have a sustainable future is highlighted by these developments, according to Mr. Al Hassawi.

Precision farming, hydroponics, IoT, and data analytics are examples of developments in agricultural technology that are improving crop productivity and water conservation.

According to the latest data from the Sharjah Research Technology and Innovation Park, vertical farming is a notable application, accounting for over 36% of the UAE’s AgriTech market.

According to Mr. Al Hassawi, “this strategy helps decrease the UAE’s reliance on food imports, supporting the employment market, and ensuring food security.”