UAE plans center for the future with World Economic Forum

UAE Minister of State for Artificial Intelligence Omar bin Sultan Al Olama talking. (Screengrab)
Updated 24 January 2018
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UAE plans center for the future with World Economic Forum

DUBAI: The UAE will co-launch and host a center for the “fourth industrial revolution” with the World Economic Forum (WEF), according to the Emirati news agency WAM.
Mohammad Al-Gergawi, the UAE minister of cabinet affairs and the future, is expected to sign the deal with Klaus Schwab, founder and executive chairman of WEF, during the annual gathering in Davos, Switzerland.
The new center will provide technical support to government authorities in the field of transforming “industrial revolution principles into real applications,” WAM said.
Al-Gergawi and Schwab are also expected to also sign a cooperation agreement concerning the fourth industrial revolution protocol that will focus on building a legal and organizational framework for overseeing information.
This agreement will relate “to the various sectors of the industrial change which includes artificial intelligence, robotics, Internet of things, drones and autonomous vehicles,” said the report.
In 2017, Dubai launched the Smart Dubai 2021 e-governance scheme, which aimed to eliminate all paperwork at government institutions by 2021. Dubai also introduced the world’s first robo-cop, which entered public service in May last year, according to the Xinhua news service.
UAE government ministers spoke at WEF today at a forum titled “Pioneering the Future of Governance in the Arab World.” UAE Minister of State for Artificial Intelligence Omar bin Sultan Al Olama said during the talk the regional plan for artificial intelligence (AI) was to ensure that no jobs were replaced by AI, and that there are no autonomous weapons created using AI.
Also speaking was UAE Minister of State for Advanced Sciences Sarah Al Amiri, who told the audience that Arab youth must be involved and included in the decision-making process of governments in the Middle East.
The World Economic Forum runs until Jan. 26.


Uber proposals value company at $120bn in a possible IPO

Updated 16 October 2018
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Uber proposals value company at $120bn in a possible IPO

  • Goldman Sachs Group Inc. and Morgan Stanley last month delivered the valuation proposals to Uber
  • Uber did not immediately respond to a request for comment

LOS ANGELES: Uber Technologies Inc. recently received proposals from Wall Street banks valuing the company at as much as $120 billion in an initial public offering that could take place early next year, the Wall Street Journal reported on Tuesday.
Goldman Sachs Group Inc. and Morgan Stanley last month delivered the valuation proposals to Uber, the report said, citing people familiar with the matter.
Uber did not immediately respond to a request for comment.