Tech

Title: “UAE’s Strategic Investment in Artificial Intelligence: A Profound Vision for Growth” Amit Joshi, Professor of AI, Analytics, and Marketing Strategy at IMD, emphasized the UAE’s significant investment in artificial intelligence (AI) and generative artificial intelligence (GenAI) during a session at the World Economic Forum – Davos 2024. He commended the UAE’s commitment to fostering an environment conducive to AI’s growth and maximizing its benefits across various sectors. Professor Joshi highlighted that the current conditions in the UAE provide an ideal foundation for advancing progress in the AI sector, building on existing investments and policy developments. He stressed the importance of educating senior leaders in both the public and private sectors on the basics of AI and Generative AI, advocating for a policy framework that encourages experimentation while establishing sensible boundaries. “The UAE has already shown vision and thought leadership in investing in GenAI. To maximize this opportunity, it should ensure that senior leaders from both the public and private sector are educated on the basics of AI and Generative AI, and make sure that AI policy allows for experimentation while also setting common-sense boundaries,” said Amit Joshi. Emphasizing the significance of training senior leaders, Joshi underscored the need for a comprehensive understanding of Generative AI, its capabilities, and potential applications to enhance innovation in all sectors. The UAE’s Strategy for Artificial Intelligence aims to elevate government performance, establish a smart digital system, position the UAE as a leader in AI investments, and create new markets with high economic value. As part of its initiatives, the UAE launched the ‘Generative AI’ guide, offering insights into the applications of Generative AI in diverse fields such as education, healthcare, media, and advanced sciences. The guide delves into the challenges and opportunities of various digital technologies, emphasizing data privacy and providing practical recommendations for effective management. Featuring 100 use-cases and applications, the guide serves as a valuable resource for individuals ranging from new business owners and students to job seekers, offering practical insights into AI. Generative AI, a subset of AI, involves training machines to generate original data, including images, music, text, and videos, thereby contributing to innovative content creation beyond traditional AI capabilities.

Title: “UAE’s Stratospheric Rise: Key Milestones in the Nation’s Space Exploration Odyssey” In recent years, the UAE has emerged as a trailblazer in Arab space exploration, showcasing a unique blend of ambition and innovation that has propelled the nation into the celestial spotlight. With groundbreaking achievements and ambitious projects, the UAE has not merely gazed at the stars but reached out to touch them, solidifying its position as a leader in space exploration. The nation’s commitment to pushing the boundaries of human knowledge and technology is evident through the establishment of various centers and entities dedicated to the research and development of space sciences. The Mohammed Bin Rashid Space Centre, formerly known as the Emirates Institution for Advanced Science & Technology, was founded in 2006, playing a pivotal role in space satellite projects like the Emirates Mars Mission. In 2014, the UAE took a significant step by establishing the UAE Space Agency (UAESA) under Federal Law by Decree No. 1 of 2014, overseeing and managing the nation’s space sector while contributing to the national economy. Curious about the remarkable accomplishments of this Arab nation? Here are the major milestones in the UAE’s extraordinary space journey: 2000 – ThurayaSATs:The UAE’s entry into space commenced with the launch of Thuraya-1 on October 21, 2000, marking the first geostationary satellite owned and operated by an Arab country. Serving as a communications satellite, it significantly enhanced telecommunication services across the Middle East, North Africa, Europe, and parts of Asia. Thuraya-2 (2003) and Thuraya-3 (2008) expanded coverage, with Thuraya-4 set to launch in 2024. 2009 – DubaiSATs:On July 29, 2009, DubaiSAT-1 was launched, marking the UAE’s venture into Earth observation satellites. Developed by the Emirates Institution for Advanced Science and Technology (MBRSC), it provided high-resolution satellite imagery for applications such as urban planning and disaster management. DubaiSAT-2 (2013) continued this mission. 2011 – Al Yah Satellites:In 2011, Al Yah Satellite Communications Company (Yahsat) launched its first satellite, Al Yah 1, designed for government applications and broadcasting high-quality free-to-air TV channels. Subsequent satellites, Al Yah 2 (2012) and Al Yah 3 (2018), further expanded Yahsat’s capabilities. 2014 – Establishment of UAE Space Agency:Under Federal Law by Decree No. 1 of 2014, the UAE Space Agency was established, signifying the nation’s commitment to advancing space exploration and technology. The agency plays a crucial role in promoting peaceful space research applications, enhancing national capabilities, and contributing to economic growth. The UAE’s space odyssey continues to unfold, with these milestones representing just a glimpse of the nation’s remarkable journey beyond the Earth’s atmosphere.

– In the presence of Ahmed bin Mohammed ..Dubai Integrated Economic Zones Authority launches AED500 million venture capital fund designed to finance technology startups – The new fund was launched on the sidelines of the Dubai Business Forum, organised by Dubai Chambers– Launched under the trademark Oraseya Capital, the fund will play a pivotal role in supporting startups from the pre-seed stage to the Series B investment stage Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Dubai Integrated Economic Zones Authority (DIEZ), announced the launch of a venture capital (VC) fund worth AED500 million. Launched in the presence of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, the fund is designed to finance technology startups and supports the economic objectives outlined in the Dubai Economic Agenda, D33 by promoting the growth of small and medium-sized enterprises (SMEs) in various emerging sectors. The new fund was launched on the sidelines of the Dubai Business Forum, which is being organised by Dubai Chambers under the patronage of HH Sheikh Mohammed bin Rashid. The fund is the first investment programme launched under the name of Oraseya Capital, the venture capital arm of DIEZ specializing in venture investment operations in startups. It will play a pivotal role in supporting startups, starting from the pre-seed stage, and extending all the way to the Series B investment stage. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said the launch of Oraseya Capital and the creation of a AED500 million VC fund for technology startups represents a strategic move that aligns with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum to support the growth of Dubai’s digital economy sector. His Highness said: “This qualitative strategic initiative supports the efforts of DIEZ to enhance its contribution to Dubai’s economy and the growth of the SME sector, which is a vital segment of the economy and serves the overarching goal of achieving comprehensive and sustainable development. This will ensure the continued sustainability and progress of Dubai’s economy in the decades to come. “The establishment of this VC fund serves as a major boost for accomplished companies looking to build a global presence. It will play a pivotal role in strengthening Dubai’s status as a nurturing ground for the most innovative, advanced and creative enterprises worldwide. We are confident in the capabilities of the expert team at Oraseya Capital, who are well-versed in supporting startups in emerging sectors and cutting-edge technology. Our aim is to see these startups join the esteemed ranks of ‘unicorn’ companies, beginning their journey right here in emirate, a key player in shaping the global economy,” His Highness concluded. One of the fund’s core objectives is to address the existing gaps in corporate finance, particularly during these crucial developmental stages. The initiative reflects Dubai’s commitment to keeping pace with the world’s leading economies in the field of startup investment, recognizing the potential these companies hold for contributing to the growth, advancement and reinforcement of the national economy. DIEZ established Oraseya Capital to reinforce capability and competency building. The initiative is geared towards facilitating the global expansion aspirations of startups and making investments in cutting-edge technology. These endeavours collectively serve to strengthen Dubai’s status as a rapidly growing hub and an attractive destination for companies and enterprises alike. His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, leads the Board of Directors of this enterprise. Its members include specialists in financial funds, corporate establishment, business development, and investment consulting, each bringing over 15 years of experience in the startups field, specifically within the UAE and Dubai. Leveraging the extensive experience of DIEZ and its economic zones, spanning nearly a quarter of a century, brings added depth and perspective to this initiative. His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said: “The launch of DIEZ’s investment fund reflects Dubai’s growing position as a leading destination for investments and a global hub for financing technology startups. The Dubai Business Forum creates the ideal platform to announce ambitious initiatives of this kind that support the objectives outlined in the D33 agenda and advance the global economy.” Al Ghurair added: “We remain committed to achieving our strategic priorities by attracting international businesses and investments to Dubai and supporting the continuous growth of the digital economy. We greatly value DIEZ’s initiative, which represents an advanced step towards enhancing Dubai’s global competitiveness in attracting and financing technology startups.” His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said: “Oraseya Capital’s core values include effective engagement, support for modern technology and the cultivation of creative ideas. The emphasis is on fostering a collaborative ecosystem for innovative entrepreneurs to exchange ideas, knowledge and resources. This initiative prioritises adaptability by remaining open to new opportunities and contemporary technologies that align with the fund’s objectives. Integrity stands at the forefront, with a commitment to upholding the highest standards of transparency, all in service of supporting and financing technology companies at the emirate’s level. “The VC fund’s primary focus lies in the strategic investment of startups exhibiting substantial growth potential. Our goal is to empower entrepreneurs from various corners of the world to nurture and establish innovative enterprises. This endeavor is instrumental in strengthening Oraseya Capital’s standing as a premier venture investment company for startups, eagerly sought after by both entrepreneurs and investors alike, all of whom aspire to reshape the landscape and future of advanced technology sectors,” Dr. Al Zarooni added. Oraseya Capital has introduced its official website, providing a platform for business owners to submit financing applications to the VC fund. This initiative targets local companies within the city, as well as international enterprises seeking to establish their operations in Dubai.The VC fund excels at providing support to companies that are part of its investment portfolio by adopting a direct guidance approach and active participation to help companies ensure their

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of AbuDhabi and Chairman of Abu Dhabi Executive Council, and H.H. Sheikh Hamdan binMohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of DubaiExecutive Council, have launched the development phase of the Sirb program, markinga historic moment in the development of the country’s space sector, driven by the UAE’sindustrial sector.Their Highnesses received a comprehensive overview of the project’s objectives andthe advanced technology slated for development in the satellite programme. They werealso briefed on the project’s milestones and the mechanisms for developing andoperating the satellites by a national industrial consortium under the supervision of theUAE Space Agency.The first satellite, which will be launched in 2026, will complement the UAE’s investmentin remote sensing technologies that serve different sectors using various satelliteimages. Radar satellites are capable of capturing images, day or night, and irrespectiveof atmospheric conditions. This groundbreaking project marks the pioneeringdevelopment of a constellation comprising three synthetic aperture radar (SAR)satellites, utilising state-of-the-art imaging technology to achieve high-precision resultsin all weather conditions.The project aims to enhance the UAE’s efforts to find solutions to climate changechallenges and environmental sustainability, contribute to urban development, integrateefforts to tackle natural disasters, and support food security challenges, by relying onqualified national talent and UAE companies. It also aims to nurture partnerships withglobal institutions and offer incentives, as an extension of the Space Economic Zonesproject, to consolidate the UAE’s position as a global hub for talent, investment andinnovation.H.H. Sheikh Khaled said, “We will enhance local expertise in the field of space tosupport our ambitious vision for the UAE to become a global hub for manufacturing andoperating satellites. We are focusing on creating opportunities for national companiesand the private sector to be part of this significant journey, and to support thedevelopment of the space sector’s infrastructure.” H.H. Sheikh Hamdan said, “Sirb marks a strategic turning point in the UAE spacesector, transitioning from a governmental and academic sector to an integratedgovernmental, private and academic sector that supports the development ofmicrotechnology and progresses the space sector’s industrial development.Empowering start-ups, SMEs and entrepreneurs tops our priority list, as they are themain drivers for economic growth.”Sarah Al Amiri, Minister of State for Public Education and Advanced Technology andChairperson of UAE Space Agency, thanked Their Highnesses Sheikh Khaled andSheikh Hamdan for their continuous support and vision in the space sector, as well asfor supervising the launch of the development phase of the Sirb programme, led by theindustrial and the private sectors in the UAE, for the first time.Al Amiri, said, “The launch of the development phase of Sirb is a milestone in our spacejourney that embodies the UAE’s determination and persistence to lead thecomprehensive renaissance of the space sector in all its fields and sectors. Today, wechart a course aligned with the UAE’s unwavering commitment and tenacity inadvancing the space sector and ensuring its prosperity and sustainability, with thesteadfast backing of our leadership.”She added, “At the UAE Space Agency, we are committed to opening new horizons forlocal industry, developing Emirati talent, and supporting national companies to ensuretheir contribution to the comprehensive development renaissance and building aprosperous future for the UAE.”EDGE assumes the role of a strategic partner to manage the programme with an addedfocus on the Synthetic Aperture Radar (SAR) payload development. Yahsat andBayanat will both manage satellite operations and data, while NSSTC will contribute byproviding assembly, integration, and testing (AIT) operations.The consortium will continue to expand its collaboration with other industry players,SMEs and startups to further enhance the collective expertise and capabilities of theprogramme and support the growth of the space private sector.EDGE will also work on the development of strategic alliances for technology transfer,knowledge exchange, and expertise development in satellite systems, amplifying theUAE’s sovereign capabilities in crucial space domains, particularly SAR payloads.This space programme will strengthen the UAE’s position as a regional and globalleader in space, while also driving economic growth and technological innovation.Central to the Sirb programme is the commercialisation of the satellites, and the datathey generate, on both national and international fronts. These highly accurate spaceradar satellites will support a wide range of scientific and commercial applications, frommonitoring environmental changes to natural disaster management and mapping.