Category: Technology

The largest technology expo in the world, GITEX GLOBAL, was formally launched on Monday at the Dubai World Trade Centre (DWTC) by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.

Sheikh Mohammed bin Rashid stressed the event’s importance in his speech, highlighting its prominence as one of the biggest international gatherings of specialists in the technology sector. “For more than 40 years, the UAE has put together the world’s top thinkers and creators, bringing them together in the quest of influencing the course of technology. This discussion has cultivated tactics, perceptions, and alliances that have greatly advanced technology and improved the quality of life for people.

“The UAE continues to take the initiative in creating a bright future for a variety of economic sectors. Over 6,000 exhibitor from 180 countries will convene in Dubai for this year’s GITEX GLOBAL to engage in a new debate about paving the way for the industry’s transformation. The impressive increase in attendance at GITEX is evidence of the rising trust that the world has in Dubai as a key hub for the technological sector today and in the future. This occasion serves as evidence of Dubai and the UAE’s unwavearing dedication to promoting development and innovation and international cooperation in the continuously changing field of technology. We’ll keep playing a crucial position in creating new alliances and expanding the horizons of the technology sector.

The DWTC is at capacity for the 43rd GITEX GLOBAL, which takes place from October 16–20, 2023. The mega-tech event will feature 6,000 companies and 180,000 tech professionals from 180 nations. The Dubai Chamber of the Digital Economy will organize Expand North Star, the largest start-up event in the world, from October 15–18, 2023, at its new location in Dubai Harbour. Over 1,800 start-ups will explore the expanding prospects inside one of the most flexible, varied, and technologically advanced digital economies in the world during both events.
Sheikh Mohammed visited a number of booths during his visit, included those belonging to Etisalat, Huawei Technologies, Beyon, Salesforce, among others, G42, Microsoft, as well as and IBM, where he spoke with prominent figures in technology and learnt about the cutting-edge innovations on show.

Omar Sultan Al Olama, the United Arab Emirates Minister of State for Artificial Intelligence (AI), the Digital Economy, and Remote Work Applications, Helal Saeed Al Marri, the director-general of the Dubai World Trade Center and Dubai’s Department of Economy and Tourism, as well as other ministers and senior officials, accompanied Sheikh Mohammed on the tour.

Following the successful rollout of the 5G SA service for Fixed Wireless customers (FWA) earlier this year, Sheikh Mohammed received information on Etisalat’s 5G technology Stands Alone network for mobile customers. This represents a significant technological milestone. Consumers now have access to a dependable, autonomous national network that allows for seamless phone and data communications across the whole nation.

In an effort to strengthen the regional payments infrastructure, the UAE and Indian have reached an agreement on strategy to introduce a domestic card program in the Emirates.

It would be modeled on India’s RuPay cards, which are issued by public, private, and small lenders across the banking spectrum and include prepaid, debit, and credit alternatives.

The United Arab Emirates Central Bank’s Al Etihad Payment firm has teamed up with NPCI International Payments Ltd (NIPL), a wholly-owned subsidiary to the National Payments Corporation of India.The businesses will collaborate to create the national domestic card scheme for the UAE.

The program intends to promote financial inclusion, support the nation’s ambitions for digitalisation, and enable the development of online shopping and electronic transactions in the Emirates.

Additionally, it aims to expand different payment methods, lower payment costs, and improve the UAE’s economy and status as a pioneer in the world of payments.

According to Piyush Goyal, the Indian Minister of Commerce and Industries, “the partnership arrangement between NPCI and CBUAE for the establishment of a national card system for the UAE modeled on India’s RuPay card is an additional turning point in our economic engagement.”
The collaboration between India and the UAE will go far and set an example for the rest of the world.

According to India’s Ministry of Industry and Commerce, the agreement “perfectly aligns with NIPL’s objective to offer its expertise and knowledge in order to assist nations around the globe establish their own cost-effective, and secure payment systems.”

RuPay is a widely used global debit and credit card network that can be used to make purchases in stores, at ATMs, and online.

RuPay cards currently account for in excess of 750 million cards in use worldwide, or more than 60% of all cards authorized in India.

According to the ministry, the domestic card option is built on the concepts of innovation, digitalisation, speed to market, and strategic independence.

The RuPay stack and additional services like fraud detection and analytics are part of the solution offered by NIPL.

Al Etihad Payments will receive assistance from NIPL with regard to the rules of operation for the local card project.
The latest agreement follows agreements made by the UAE and India in July to enable the interconnection of their payments and messaging systems and to encourage the use of local currency for cross-border transactions.

The nations declared at the time that they would look into connecting their respective card switches, RuPay switch and UAESwitch, for the purpose of processing card transactions and facilitating the use of domestic cards.

In order to connect the automated teller machine network of all lenders in the Emirates, the UAE Central Bank launched UAESwitch in 1996.

Tasaru Mobility Investment will spearhead partnerships and strategic investments to localize production.

The Public Investment Fund of Saudi Arabia has established a new business to promote the production of electric vehicles in the country and strengthen local supply chains for the transportation and automotive sectors.

According to a statement from PIF, the new company, National Automobile and Mobility Investments the company, or Tasaru Mobility Investments, aims to promote strategic investments and partnerships with domestic and international private firms.

Tasaru further stated that it planned to localize production and technology to hasten the growth of the kingdom’s EV and autonomous transportation ecosystem.

Omar Al-Madhi, co-head of the Middle East and North Africa, said, “The formation of the company demonstrates PIF’s commitment to diversify the economy, enhance sustainability, and localize technology and sector-specific knowledge.”

Additionally, the new business will encourage the use of cutting-edge technology, research and development, and look for sustainable business prospects in the automotive industry.
According to PIF, its first investment is a joint venture to build an auto logistics hub in King Abdullah Economic City alongside Zamil Family Real Estate the company, Abdullah Ibrahim Alkhorayef Sons Company, and Dar Al-Himmah Projects Company Ltd.

Tasaru will own the majority of the stock in the new business.

Saudi Arabia, the largest crude exporter in the world and the top oil producer in Opec, has set lofty goals to combat climate change and reduce carbon emissions in order to transform its economy and lessen its dependency on oil.

By 2060, the nation wants to have net-zero emissions of carbon.

Tasaru will advance the nation’s environmental goals, notably its net-zero 2060 aim and PIF’s own net-zero 2050 target, by expediting the switch to EVs and future transportation options.

The global EV market is expanding as governments and society turn toward energy efficiency and environmentally friendly transportation.

According to research from Fortune Business Insights, the global EV industry is expected to increase by more than three times to around $1.6 trillion by 2030 from an anticipated $500 billion in 2023.
As parts of its Vision 2030, Saudi Arabia, the largest economy in the Arab world, is putting a lot of effort into developing its local EV market to aid in the transition and expand its domestic manufacturing industry.

5,000 fast chargers will be installed nationwide by 2030, according to a new electric vehicle (EV) infrastructure firm that PIF & Saudi Electricity firm launched on Monday.

The PIF-backed luxury EV manufacturer Lucid Group announced last month that it has opened its first overseas manufacturing facility in Saudi Arabia. This facility is projected to create 155,000 electric vehicles annually.

The PIF introduced Ceer, the first electric car brand in the country, in November of last year. Ceer hopes to bring in over $150 million in foreign direct investment & generate up to 30,000 jobs, both direct and indirect.
Since 2017, 89 new companies have been founded by the PIF, the organization at the heart of the kingdom’s diversifying drive.

 

The Jeddah plant’s capacity will rise from 5,000 to 155,000 units annually, according to a California-based corporation.
The first worldwide manufacturing facility for luxury electric vehicle manufacturer Lucid Group has opened in Saudi Arabia. The facility is projected to produce 155,000 electric vehicles annually.

The California-based business, supported by Saudi Arabia’s Public Investment Fund, has begun assembling its first luxury sedan, the Lucid Air, at the facility outside of Jeddah, according to a statement released by Lucid Group on Wednesday.

According to the corporation, the facility in the King Abdullah Economic City (KAEC) is the second advanced manufacturing plant (AMP-2) for Lucid, with the first (AMP-1) being in Arizona.

The AMP-2 has the ability to semi-knock down assemble “5,000 Lucid vehicles annually”. Currently, it assembles pre-manufactured Lucid Air car kits from AMP-1.
According to Peter Rawlinson, chief executive and chief technology officer of Lucid, “our facility will pave the way for the country’s electric automotive industry and the expansion of the supply chain as Saudi [Arabia] charges towards its Vision 2030.”

In doing so, the government will “support the vision for a more sustainable and diversified economy in the nation.”

According to Goldman Sachs, the global market for new cars will be dominated by electric vehicles by 2035 as efforts to achieve net-zero carbon emissions pick up speed.

According to an International Energy Agency estimate, sales of electric cars exceeded 10 million last year, indicating that the sector is expanding rapidly. In 2022, 14% of all new automobiles sold were electric, up from less than 5% in 2021 and roughly 9% in 2022, according to the report.

Global sales of electric vehicles increased by almost 25% during the first quarter of this year to more over 2.3 million units, according to the agency.

In 2007, Lucid was established. In order to acquire a sizeable part in the business and advance its manufacturing goals, the PIF invested more than $1 billion in the company in 2018.

In July 2021, Lucid became the first EV start-up to IPO via a special-purpose acquisition company.

According to Lucid, the KAEC project is also anticipated to hasten Saudi Arabia’s strategic objective to reform and diversify its economy through the advancement of environmentally friendly energy and transportation.

According to Faisal Sultan, vice president and managing director Middle East at Lucid Group, “AMP-2 in KAEC… gives us the ability to efficiently fulfil the recently signed agreement with the government of Saudi Arabia to purchase up to 100,000 vehicles over a 10-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period.”

Agreements for the factory were inked in March of last year by the US-listed Lucid, the Saudi Industrial Development Fund, and KAEC.
By the second half of this decade, the business wants to construct whole vehicles at the Saudi plant, increasing production to 150,000 units yearly.

Through a deal with the Saudi Human Resources Development Fund, Lucid also plans to hire “hundreds of Saudi nationals in the first few years and eventually grow the workforce into the thousands”.

Masayoshi Son of SoftBank will provide more than $1 billion in finance for the project.
The creator of ChatGPT, OpenAI, is in advanced discussions to develop the “iPhone of artificial intelligence” with former Apple design chief Jony Ive and SoftBank Group CEO Masayoshi Son.

According to sources cited by the Financial Times on Thursday, the Japanese investment holding company will contribute $1 billion to the product’s development.

Uncertainty exists around the possible investment’s terms and the timetable for the product’s development.

Sam Altman, the CEO of OpenAI, hired LoveFrom, a design studio that Mr. Ive founded after leaving his prominent position as Apple’s chief design officer in 2019.

This week’s information included some coverage of the product conversations as well.

According to the sources, Mr. Altman and Mr. Ive discussed how the product would appear and how OpenAI’s technology would fit in it in the San Francisco studio.

They stated that they wanted to make using AI “more natural and intuitive” for people by developing a solution that would enable this.

The iPhone, which did away with the conventional keyboard in favor of an all-touch interface, was revolutionary and created a new market for mobile devices.

According to the sources, there are still many ideas and possibilities being evaluated when it comes to the design and type of the device that will be made.

Advancements have made smartphones even more potent and practical. Smartphones have revolutionized mobile communications. Counterpoint Research stated last month that the business has been stagnant and that shipments are on track to reach their lowest levels in a decade.

With a fresh and distinctive product, the market might be revitalized, and Apple and Samsung Electronics, the largest mobile phone maker in the world, as well as other market leaders, might face competition.

The ambitious plans of Jonny Ive
The initiative of OpenAI receiving Mr. Ive’s support would greatly advance its aspirations for consumer devices.

Mr. Ive and co-founder of Apple Steve Jobs worked closely together on creative projects.

He worked for the tech company for more than two decades and oversaw the creation of both the iPhone and the colored iMacs, which helped Apple recover from its 1990s near-death experience.

Mr. Ive also contributed to the design of Apple Stores, the company’s Apple Park headquarters in California, and some elements of the iOS user interface.

In 2019, he parted ways with Apple and joined forces with Marc Newson to launch the design studio LoveFrom. The “creative collective” LoveFrom lists Airbnb and Ferrari among its clients.
Meanwhile, Tokyo-based SoftBank is a significant investor in the technology sector.

According to data from CB Insights, the business and its technology-focused Vision Fund have invested in roughly 160 companies.

China’s Alibaba Group, chipmakers Nvidia and Arm, Uber Technologies, TikTok parent ByteDance, and Indian e-commerce platform Flipkart are a few of the businesses in SoftBank’s investment portfolio.

The FT reported earlier this month that SoftBank had been searching for AI projects following the successful listing of its Arm company, and that Mr. Son was planning to invest tens of billions of dollars in the field.

Companies like Microsoft and Alphabet have invested billions of dollars in the technology as a result of the success of OpenAI, the parent company of the enormously popular chatbot ChatGPT.

Oracle has plans to add more cloud regions in Europe, the Middle East, and Africa, with the UAE and Saudi Arabia leading contenders thanks to their rapid adoption of the technology, according to the company’s top regional executive. High digital adoption rates and a strong government push are attractive drivers for growth, the executive claims.

The two largest economies in the Arab world also stand out because of the support given to innovation by their governments, according to Richard Smith, executive vice president of technology for Oracle’s Emea region, who spoke with The National.

“Across Emea, we have priorities. On the other hand, [the UAE and Saudi Arabia] are unquestionably very high growth regions,” he said on Wednesday in Las Vegas, outside the Oracle CloudWorld convention.

“Government agendas for digitisation are significant drivers for cloud adoption, which is one of the things that is quite powerful in the region.

And if you look at Saudi Arabia or the United Arab Emirates, everyone talks about social and citizen services, which is what is causing the cloud to be adopted and deployed so quickly.
According to Mr. Smith, Texas-based Oracle continues to make “very, very big” investments to expand the capacity of its data centers while making sure that these investments are in line with local social, governmental, and security goals.

Making sure that the alliances we are forming are in line with the national ambitions that many of those countries have is one of the main obstacles, not the opportunity itself.

The usage of cloud technology is expanding in the Middle East as young consumers’ interest in technology grows and the digital landscape changes.

This has encouraged international cloud service providers to take advantage of the region’s potential, particularly in the UAE and Saudi Arabia.

As part of their ambitions for economic diversification, the two nations are placing a lot of emphasis on technology and innovation.

A total of five Oracle cloud regions will eventually be shared by them.

A cloud region is an area that contains a cloud data center, which is a physical facility that holds the IT infrastructure needed to operate applications and related services as well as manage and store relevant data.

The first cloud area in the Middle East, which will open in Jeddah in 2020, was welcomed by the monarchy, while a second cloud zone in Riyadh was also announced at the Leap technology conference earlier this year. According to chief information officer Jae Evans, a third of the future metropolis of Neom will go live “soon.”

The cloud zones in Dubai and Abu Dhabi got going in September 2020 and November 2021, respectively.

A quarter of Oracle’s 45 public cloud regions, spread over 23 countries, are in the Middle East.

Other international giants beyond Oracle have opened cloud and data centers in the Middle East, including Microsoft, Amazon, IBM, and Alibaba Cloud.

In terms of acceptance and development, the region is “certainly among some of the fastest in the world.”

To guarantee that services meet needs, Oracle maintains tight connections with regional governments.
For instance, the business collaborates “very closely” with Saudi Arabia’s cybersecurity agency before the issuance of new legislation.

So that we can comprehend how they think and what they want, Mr. Smith added.

“A joint effort of that nature is really effective. And I do observe a significant desire in the Middle East to use that strategy. Other nations can differ slightly from ours.

According to Cherian Varghese, senior vice president of technology for small and medium businesses at Oracle, the company’s cloud computing services are also advantageous to these businesses, who make up more than a quarter of its clients in Emea.

The company has about 315,000 SMB customers around the world.

In comparison to necessities like water and electricity, 91 percent of Saudi respondents now classify broadband as “critical national infrastructure,” above EMEA averages.
Consumer expectations have changed, according to the most recent Cisco Broadband Survey, which included 2,000 Saudi Arabian respondents. This marks the beginning of a significant change in the Internet connectivity industry.

Consumers in the kingdom are reassessing how much they rely on the Internet, juggling their desire for dependability and speed with the growing demands of environmental consciousness and the emergence of the Internet of Things (IoT), which connects everything from smart cars to household appliances.

Consumer broadband preferences in Saudi Arabia are influenced by sustainability
A consensus has emerged as a result of this transition, with 91 percent of Saudi respondents now classifying internet as “critical national infrastructure,” equating it with necessities like water and electricity and exceeding EMEA averages.
The rise of sustainability as a key influence on consumer decisions is a prominent feature of this revolutionary environment.

The younger group, those in Saudi Arabia between the ages of 18 and 24, has the highest level of anxiety, at 73%, and has expressed concerns about the carbon footprint of their broadband at a startling 65 percent of consumers.

Additionally, 92 percent of respondents in the kingdom indicated that they would be willing to pay more for sustainable broadband, with almost a quarter saying they would be willing to pay more than double that amount.

Our survey has shown that Saudi Arabian consumers are becoming more conscious of the environmental impact of technology. This is consistent with KSA efforts to create a more prosperous and sustainable society and represents a cutting-edge strategy to advance sustainability in the nation, according to Salman Faqeeh, Managing Director of Cisco Saudi Arabia.

“In the modern world, it is more important than ever for digital transformation to cooperate with sustainability. At Cisco, we think the tech sector has a special chance to drive the dual transition to a digital and green future.

The need for processing power and bandwidth to handle the enormous amounts of created data is growing as the IoT age develops.
More than half of Saudi Internet users use their connections primarily for social media interaction (58%) followed by video streaming and gaming (57%) and online reading, browsing, or shopping (53%) activities.

In Saudi Arabia, respondents are increasingly integrating a range of connected devices into their home Internet services, including smart lights (29 percent), home appliances (30 percent), and home entertainment systems (54 percent). This evolution has also ushered in a preference for a “smarter” digital life.

Although hundreds of people flocked to the store the night before the new model’s introduction, it was supposed to go on sale on Friday.
A day before the new iPhone 15 unveiling, hundreds of people started lining up outside the Apple store in the Dubai Mall, so security guards closed the entrance.

On Friday, September 22, the iPhone 15 is expected to go on sale in a number of nations, including the UAE.
At the mall, a security guard advised eager customers to make reservations online or visit at a later time. Tomorrow will be a huge day, so we’re getting ready. The shop is currently not open to customers. The security guard assured team KT, “We are making sure everyone is safe and at ease.

Many locals were anxiously down the minutes until they could purchase the new model. Aziz Karimova, an expatriate from Uzbekistan, arrived at the mall as early as 4 p.m. to find out how he might get his pre-ordered phone. “I just relocated to Dubai, so I don’t know how things are over there. I traveled to the Dubai Mall after viewing a few films there, said Karimova.
“Since I’ve always been an Apple fan, I was able to reserve the phone on the first day. According to the crowd today, I believe I must arrive early the next day for the phone, Karimova continued.

The iPhone 15 was first unveiled on September 13 and contains a number of distinctive features, including as a 48MP main camera and a titanium body.

Among the many locals who attended the mall were hundreds of Apple fans like Ahmed Sufyan. Although Sufyan, an Egyptian expat working as a marketing professional, had only recently arrived at the mall, “the crowd made me believe that they are giving out the phones a day before,” he claimed.

Sufyan stated, “I’ve already made a pre-order, and the delivery is planned for September 27.
The days leading up to the new model’s release have seen a tremendous amount of talk and enthusiasm. Visitors from the Northern Emirates who were in Dubai want to stay at relatives’ homes overnight and visit the mall the next morning.

Lebanese realtor Badr Sameer was in Dubai Mall when the enormous crowd astounded him. It was similar to a festival. “Only during festivals have I ever seen such crowds at the mall, and I frequent it frequently,” remarked Badr.

In a series of interviews leading up to the publication of his biography on Elon Musk on Tuesday, Walter Isaacson discussed the tech mogul’s “demon mode,” erratic mood swings, and traumatic upbringing. During the two years that Isaacson spent following Musk and speaking with more than 100 people in his social and professional circles, he shared memorable incidents and important insights he learnt. It wasn’t difficult, according to Isaacson, to persuade Musk to allow him to write the biography, he said in an interview with NBC’s “Today” show on Monday.

According to Isaacson, “He views himself as an epic hero on the global stage.” Therefore, it wasn’t difficult to convince him. I believe he desired a biography.

He continued, adding that Musk frequently upholds the principle of transparency: “I just said I got to be with you at all times, I must monitor you, and you have no authority over the book.” Musk was described by Isaacson as a man who is constantly “looking for some drama” while simultaneously trying to push himself to do more. “I can’t hold back a victory.

Before Musk acquired Twitter, Isaacson remembers Musk telling him, “I’ve always placed chips back on the table. He was the richest man in the world at the time and had achieved great success with Tesla and SpaceX. However, Isaacson remarked that Musk occasionally demonstrates erratic behavior and said that Musk’s emotionally harsh upbringing has left lasting scars.

“Musk was a socially awkward child who was thin and frequently bullied on the playground. However, those wounds paled in comparison to having to watch silently as his father sided with the bullies and others who beat him up while having to stand in front of him for up to an hour at a time, Isaacson said. The danger for Elon is that he grows his father, and Elon can turn dark too and get extremely hard on people, at times, as his mother Maye says, Isaacson said on “Today” and making a similar point in an interview in The Atlantic. “And throughout his life, those demons have been bouncing around in his head,” Isaacson said.

When Musk becomes progressively enraged, Claire Boucher, a musician better known by her stage name Grimes, has been referred to as being in his “demon mode,” according to Isaacson. He has a variety of personas, and sometimes you’re around a really, you know, half-joking guy or a guy who is extremely amazing at engineering. But there are times when he enters what his sporadic girlfriend Claire Boucher, better known as Grimes, calls “demon mode,” and that’s when he turns dark, according to Isaacson.

Musk has not received a formal diagnosis, according to Isaacson, but he occasionally “talks about bipolar” when describing his symptoms. He had also been taking a variety of prescription drugs, according to Isaacson. He claims that he hasn’t had an official diagnosis, yet he speaks about being bipolar.

He occasionally consumes a lot of prescription medications. He can have mood swings and occasionally exhibits a Jekyll and Hyde aspect. For example, he might get into a dark, melancholy mood and say things—sometimes things his father said to him—before changing his mind when you ask him about them a few hours later. And he appears to be practically memoryless.

The HealthTech startup intends to build on its achievement in Abu Dhabi and increase its user base in Saudi Arabia and Dubai.
Khaldoon Bushnaq, a software developer, and Tariq Seksek launched Alma Health in the midst of the Covid-19 outbreak in 2020.

The moment was right to start a business that would benefit those with chronic illnesses.

Through its smartphone application, Alma Health, a direct-to-patient digital healthcare platform, offers direct medical consultations to people with diseases like diabetes, hypertension, high cholesterol, and asthma.

The business, headquartered in Abu Dhabi Global Market, offers lab testing that can be completed at home and has a staff of qualified general practitioners on hand.

The technology, which was a part of Hub 71’s initial cohorts, also enables patients to complete their prescriptions without having to travel to a clinic or a hospital, with full coverage by the user’s health insurer.
Both co-founders have degrees in software engineering and have experience working in the UAE’s thriving business community.

Mr. Bushnaq, the head of strategy and business performance at Careem, earned his engineering degree from Carleton University in Canada and his MBA from the University of Cambridge in 2015.

A University of Western Ontario engineering graduate, Mr. Seksek has held product management positions with businesses like Dubizzle and Starzplay in the past.

The two created a strategy based on their corporate expertise and the disruptive impact of technology on various sectors in an effort to differentiate Alma’s solutions.

Their business case for speeding the development of services for persons with chronic diseases in the region was bolstered by the high smartphone penetration rates in the area.

“I realized the effect that technology had on transportation industries in the UAE, Saudi Arabia, and in the other parts of the region during my tenure at Careem between 2016 and 2020,” says Mr. Bushnaq, who is also the company’s chief executive.

“I have a very strong core conviction that many technology companies and services will solve a significant problem for the population and will experience a very rapid adoption rate,” the author says.

Although the pandemic was a trying period for everyone, he adds it was also a chance to learn an important lesson: to be ready for the next pandemic or endemic.

According to Mr. Bushnaq, “the two critical trends we have observed and strongly capitalized on to start a digital health care business are: the regulators’ agility to licence digital health care providers, doctors’ rapid adoption of digital health, and patients’ rising expectations from their health care providers.”

Mr. Bushnaq, who has a chorionic problem himself, could see that there were numerous chances for transformation and simplification.

For instance, if the condition is stable, there is no need to visit the hospital to renew and refill a prescription.

Alma offers a substitute, but the platform’s value proposition outweighs that of the other telemedicine providers in the region and the United Arab Emirates.

“Our business model is quite different from that of a normal telemedicine company, where a physician may or may not work for the business. These medical professionals work for Alma Health. This enables us to provide our members a high-quality, customized care plan, he claims.

The Department of Health in both Abu Dhabi and Dubai has granted the company’s workers and physicians a license. Part-time professionals are also registered by their local health authorities.

According to a recent research by Dealroom, an Amsterdam-based provider of data and insight on start-ups and digital ecosystems, health tech start-ups in the Mena region are booming, having garnered more than $400 million in VC funding since 2016.

According to Dealroom, the region’s HealthTech companies currently have an enterprise value of more than $1.7 billion, a growth of 8 times since 2017.

The amount invested in health technology in Mena last year increased to $106 million from $73 million. The UAE got the most venture capital funding in Mena between 2018 and 2022 ($192.7 million).

According to Dealroom, the telemedicine and biotechnology sectors have garnered the most VC funding thus far since 2018.

Alma Health, which is a member of the Department of Health’s Technology Hub in Hub 71, has benefited greatly from the regulator’s advice on how to set up online pharmacies and clinics as well as how to acquire the appropriate licenses to provide consumers with safe and high-quality healthcare.

According to Mr. Bushnaq, “this region of the world has one of the highest prevalence rates of chronic conditions worldwide and it’s time for a serious push to improve access to health care.”

He claims that as many as 120 million people in Mena currently struggle with chronic diseases and frequently rely on a primary care system that is ineffective and has not undergone significant adjustment in more than a century.

There are 15 million people in Saudi Arabia who have at least one chronic disease which is highest in the region.

“There are only 13 general practitioners and one pharmacist for every 10,000 people in Saudi Arabia, despite the fact that persons with chronic conditions see a doctor at least four times a year and need at least eight prescriptions filled. In sharp contrast, the US has eight pharmacists and 26 general practitioners per 10,000 people, he notes. According to Mr. Bushnaq, health care spending will have climbed three times in the United Arab Emirates and 3.5 times in Saudi Arabia between 2004 and 2020 as a result of the annual increases in the prevalence of diabetes, heart disease, obesity, asthma, and other ailments.

However, regional authorities pay careful attention and are continually updating legislation to make it easier for people with certain illnesses to get health care.

The business will keep its primary emphasis on chronic care.

Through our coverage of their end-to-end journey guided by our skilled and specialized physicians, “we have clear indications that we are successfully changing the lives of people living with chronic conditions.”