Powerful technologies ushering in new risks and opportunities: Dell official

Exclusive Powerful technologies ushering in new risks and opportunities: Dell official
Dell Technologies, which provides comprehensive hardware and software solutions, including platforms, is ready for emerging technologies such as 5G, Edge, artificial intelligence and machine learning. (Shutterstock)
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Updated 02 February 2023

Powerful technologies ushering in new risks and opportunities: Dell official

Powerful technologies ushering in new risks and opportunities: Dell official
  • 90% of organizations in the Kingdom have fast-tracked their digital transformation programs over the past year

RIYADH: Digital transformation is seen as a critical business driver for economic growth in Saudi Arabia as 90 percent of organizations in the Kingdom have fast-tracked their digital transformation programs over the past year, according to a study done by Dell.

“This is compared to the global benchmark of 80 percent, suggesting that organizations across the region have shifted their digital transformation programs into high gear,” Rola Dagher, global channel chief of Dell Technologies, told Arab News in an exclusive interview.

She attributed this to “powerful technologies,” including artificial intelligence, machine learning, 5G, storage and cloud which are ushering in new and competitive risks and opportunities.

“Modernizing infrastructure, migrating to multi-cloud, building connected workforces, securing critical assets and more are all elements that will lay the groundwork for a successful digital future.”

The Dell executive pointed out that the company’s goal is to give customers the freedom to scale resources in ways that work best for them, “so they can quickly respond to changes while focusing more on their business needs.”

This comes as Dell Technologies Digital Transformation Index study found that there is an as-a-Service awakening, with more than six in 10 Saudi firms believing aaS would enable their organizations to be more agile, seamless and cost-effective.

However, Dagher cautioned that talent scarcity is a concern for the tech industry and its customers.

“Making sure that you have the right people with the right talents and skills to meet the needs of the future will be a challenge for Saudi Arabia and across the globe,” she said.

Dagher reiterated that keeping partners trained and up-to-date on the latest technologies is one way to ensure that their talented teams remain at the forefront of innovation. 

Making sure that you have the right people with the right talents and skills to meet the needs of the future will be a challenge for Saudi Arabia and across the globe.

Rola Dagher, Dell Technologies global channel chief

“This, in turn, helps alleviate any talent scarcity their customers may have, allowing them to focus on allocating their resources to other strategic initiatives,” she explained.

Dagher pointed out that Dell’s partners have deep knowledge of their customers and understand what they need to keep their doors open and their businesses running. “In turn, our partners work with Dell Technologies to craft and deliver the right solutions when and where our customers need them the most,” she said.

Digital evolution

Having been present in Saudi Arabia for more than 20 years, the Dell executive insisted that the Kingdom is a priority market for them.

The company is focused on supporting the Kingdom on its diversifying journey under the Vision 2030 program and working closely with the public and private sectors to bring this vision to the forefront through its end-to-end solutions.

“As the region upgrades to smart and digital infrastructures, it will prompt new models of business and services and act as a driver of economic momentum,” Dagher said.

She added: “This digital evolution will open broad spaces for new services as well as consumption in a variety of industries, elevating organizations and helping them become more resilient in the face of transformation.”

FASTFACT

The company is focused on supporting the Kingdom on its diversifying journey under the Vision 2030 program and working closely with the public and private sectors to bring this vision to the forefront through its end-to-end solutions.

Dell Technologies which provides comprehensive hardware and software solutions, including platforms, she said, is ready for emerging technologies such as 5G, Edge, artificial intelligence and machine learning.

From Dell workstations to Dell PowerEdge Servers to Dell PowerScale Storage and more, Dagher stressed that their “state-of-the-art technologies enable every organization to have access to the transformative power of artificial intelligence/machine learning and deep learning and more.”

Fostering Saudi talent

Dagher reiterated Dell’s commitment to making real transformations for organizations in Saudi Arabia as the company has been instrumental in supporting its customers to innovate for their digital futures.

According to Breakthrough, a Dell Technologies commissioned study, 72 percent of Saudi employees are keen to upskill themselves to focus on more strategic opportunities within their organization.

“Investing in local talents is a key priority and we support the Saudi government initiatives in training Saudi nationals and equipping them with the skills they need to join the future workforce,” said Dagher.

She added: “Through our Academic Alliance Program, we partner with over 15 universities to offer curriculum-led IT training. We also have our own local graduate hiring program where we train and hire fresh graduates every year.”

Emerging technologies

With the current macro-economic trends impacting business and technology, she said customers want to ensure they are making the right technology investment and that their investments last longer and deliver solid returns.

“We have the capabilities, solutions and people to help our customers, whether they want to control expenses with an aaS solution, protect themselves from cyber threats, or supplement their IT department,” Dagher added.

She went on to say that “customers are increasingly doing business with companies committed to delivering positive impact for people and our planet while driving long-term value for all stakeholders. Environmental, social and governance is not a ‘nice to do’ but a ‘must do’.”

In fact, Dell is seeing that 95 percent of its customers include ESG criteria in their requests for proposals and bid requests.

“Our partner community is uniquely positioned to deliver solutions that address both customer’s IT needs and create a positive impact on humankind and the planet,” Dagher explained.

She added: “Through our Partner Program, partners can leverage our ESG strategy, pillars, and goals of advancing sustainability, cultivating inclusion, transforming lives and upholding ethics and data privacy to deliver greater impact to their customers and their communities.”

Key tech trends

Talking of top tech trends for this year, Dagher said, “Innovation will continue to be a driving force in technology, taking us to new and exciting heights.”

“There are so many exciting new frontiers ahead of us, with everything aaS continuing to expand, artificial intelligence and machine learning, 5G and Edge solutions,” she continued.

Dell has accelerated its innovation engine and wants to make sure its partners are ready to join them on this journey.

“I believe that aaS will continue to grow in importance for the channel and our customers,” Dagher said.

“It provides flexibility and growth which is especially important for companies who want to grow their business and are also concerned about rising costs,” she summed up.


Saudi Arabia, Miami share similarities in quality of life standards experts tell FII Priority

Saudi Arabia and Miami have a lot in common when it comes to quality of life and business opportunities, experts said
Saudi Arabia and Miami have a lot in common when it comes to quality of life and business opportunities, experts said
Updated 31 March 2023

Saudi Arabia, Miami share similarities in quality of life standards experts tell FII Priority

Saudi Arabia and Miami have a lot in common when it comes to quality of life and business opportunities, experts said
  • Kingdom made quality of life a priority in Saudi Vision 2030
  • Cities should invest in arts and culture, panelists say

MIAMI: Saudi Arabia and Miami have a lot in common when it comes to quality of life and business opportunities, experts said at the FII Priority conference in Miami on Thursday.

Both cities have, in the last few years, they said, promoted better living standards for their citizens through socio-economic policies.

“Miami had this incredibly welcoming spirit. It was set up for success from the top down,” said Jeff Zalaznick, restaurateur and managing partner of hospitality company Major Food Group. “I’ve really gotten to understand — with Vision 2030 and the things that they (Saudi Arabia) are looking for — that there are a lot of similarities between the quality of life and business (policies) in Miami and what’s happening in Saudi Arabia.”

The Kingdom made quality of life a priority in Saudi Vision 2030 and is one of the few countries in the world to have a minister dedicated to improving quality of life for its residents.

“Everything we do is based on quality of life. It is so important to the crown prince that he set up its own ministry,” said Jerry Inzerillo, group CEO of Diriyah Gate Development Authority, adding that “positivity and optimism” are the “fuel of that country.”

In the latest World Happiness Report, Saudi Arabia was ranked No. 2 in the Arab World, and 30th in the world.

Barry Sternlight, chairman and CEO of Starwood Capital Group, pointed out that cities that have not not invest in their citizens’ quality of life have seen their population decline.

“I think that quality of life is driving market share,” he said. “It’s driving the success of cities that are focused on improving the lives of their citizens.”

Sternlight observed that the parameters individuals use to determine quality of life are evolving and are no longer entirely centered on economic concerns.

“People are looking for meaning and purpose, and whether it’s sustainable development,” he said.

Sternlight added that people consider art and culture to be key aspects of quality of life in cities and emphasized that having museums, galleries, and artistic offerings as part of the fabric of a city is essential to its success.

The CEO of real estate development firm Daccra, Craig Robins, said that building an ecosystem around art and culture is crucial and should include supporting artists, small galleries, and other related businesses.

He cited Miami Design District as an example, and explained that since its launch in the early 2000s, the neighborhood has become a center of creativity and a thriving hub for culture and business — not only for Miami but the world.

“The goal was to create a sense of community that people would really love — something that was different, and something that could be a resource for all,” Robins said.


Saudi Arabia, UAE ‘play critical role in space exploration’

Saudi Arabia, UAE ‘play critical role in space exploration’
Updated 31 March 2023

Saudi Arabia, UAE ‘play critical role in space exploration’

Saudi Arabia, UAE ‘play critical role in space exploration’
  • Investment firm boss Brian Hook tells forum that people and funding will drive growth
  • Panel discussion hears ‘third space revolution’ is inspiring younger generations

MIAMI: Saudi Arabia and the UAE are playing a “critical role” in the future of space exploration, the boss of a major investment firm has told a panel of industry experts in Miami.

Brian Hook, the vice-chairman of Cerberus, told the FII forum that countries like the Kingdom and the UAE had greatly accelerated a new space race. “By putting both their people and their funding behind (it), they brought into existence this sort of new space economy,” he said.

He and other panelists examined the potential for development and investment in the space industry, and spoke about the breakthroughs and dynamics that make it appealing to the general public, investors and enterprises.

Hook said that allowing the private sector into the market had gained fresh momentum, and the overall market value was expected to surpass $1 trillion in the coming years.

“Private equity and venture capital have been funding and enabling some of the most innovative companies for space exploration,” he said.

Helene Huby, CEO of The Exploration Company, which wants “affordable, sustainable and open” space exploration, said there had been a renaissance in the industry in the last few years.

“We are living in the third revolution. The first was the Apollo mission, which was about access. The second was the industrialization of space exploration with the International Space Station,” Ruby said.

“And what we see now is a revolution that is not about access, it’s not about costs and industrialization. It’s about staying in space.”

Speakers said that current enthusiasm around space exploration and increased investments would play a critical role in addressing some of the world’s most pressing challenges, including climate change, food shortages and droughts.

“One of the things that people don’t consider is the effect that human spaceflight has not only on the people that fly but also the people on the ground,” said Jane Pointer, founder of carbon-neutral spaceflight company Space Perspective.

“Space is a great contribution to humanity,” added Alan Pellegrini, CEO of Thales North America, a defense and aerospace company.

“I was young at the time but Neil Armstrong’s landing on the moon transformed my life and inspired me to a career in aerospace. And I think it is having the same effect on younger generations today.”

“Space has always been a place where you can collaborate regardless of which nation you belong to, and I really hope that that spirit continues,” he added.

 


Medina Capital founder delivers cybercrime warning at FII Priority conference

Medina Capital founder delivers cybercrime warning at FII Priority conference
Updated 31 March 2023

Medina Capital founder delivers cybercrime warning at FII Priority conference

Medina Capital founder delivers cybercrime warning at FII Priority conference
  • Basic ‘common sense stuff’ will help people protect themselves, says Manuel Medina

MIAMI: Almost half of organizations globally will have experienced a cyberattack on their software supply chains by 2025, according to analyst firm Gartner.

As Manuel Medina, founder and managing partner of Medina Capital, said: “There are only two types of enterprises and government agencies today: the ones that have been hacked and the ones that are going to be hacked.”

Speaking at the FII Priority conference in Miami, Medina highlighted the risk of cyberattacks, and said: “The internet was not designed to do what it’s doing today.”

Globalization and technological advances, such as cloud computing, mobility and virtualization, have made the internet less secure.

Companies across a host of industries are spending billions digitizing their infrastructure, but that infrastructure is difficult to protect, he said.

On an individual level, it mostly comes down to common sense, Medina added.

Social media companies do not charge users on their platforms because they are monetizing the users themselves, and by sharing copious amounts of personal information, users are only making it easier for both social media companies and potentially hackers to access their data, he said.

“They (social media companies) take your personal identity, and everything that they do is (about) how they track you in order to get commerce and sell you stuff. So, that’s totally contradictory to protecting you.”

Medina Capital, which hires “elite hackers,” has a motto of not liking people, because “people are the weak link,” Medina said.

“You are as strong as your weakest link.”

He added: “You can have the best software and the best systems,” but “human weakness” is the reason for the collapse of a security system.

Cybercriminals do not need weapons, politics or strategy; all they need is a laptop and a network connection, and governments need to evolve and cooperate to tackle this kind of criminal, Medina said.

Prosecuting cybercriminals is difficult because of globalization and innovation whereby it is possible for some evidence or information to be stored on a server located in a different country than the one where the criminal is being prosecuted, he said.

“The system today is the same system that it was 80 years ago. So, one of the things that we need to do is bring ourselves up to date.”

Individuals, too, need to do some basic “common sense stuff” to protect themselves, such as using multifactor authentication and storing their passwords in a secure digital wallet, he said.

“You have to sacrifice a little bit of convenience in order for you to be able to sleep better at night.”


GCC banks to see ‘limited impact’ from global banking worries prompted by SVB collapse: Kamco

GCC banks to see ‘limited impact’ from global banking worries prompted by SVB collapse: Kamco
Updated 31 March 2023

GCC banks to see ‘limited impact’ from global banking worries prompted by SVB collapse: Kamco

GCC banks to see ‘limited impact’ from global banking worries prompted by SVB collapse: Kamco

RIYADH: Banks in the Gulf Cooperation Council region are set to see a limited impact from the banking crisis hitting the US and Europe, according to a report from Kamco Invest.

The investment banking subsidiary of Kuwait Projects Company argues that financial institutions in the GCC had limited exposure to Silicon Valley Bank – the US firm that collapsed in March prompting concerns of contagion sweeping across the world in the manner of the 2008 global crash.

The report says balance sheets of the banks in the region remain strong, and in the final quarter of 2022 both aggregate lending and customer deposits remained strong.

“The broader GCC banking sector is expected to see only a limited indirect impact from the ongoing banking sector crisis in the US and Europe,” said the report, adding: “Shares of banks globally and in the region, especially, were affected due to fears of a contagion as the collapse of SVB was the biggest lender failure since the global financial crisis of 2008. 

“However, the collapse had only marginal impact with minimal exposure of banks only in the UAE, while most of the other countries in the GCC remained unaffected. 

“The bulk of the exposure was from various startups and VCs that had accounts with SVB that may now bank with local banks, although under increased scrutiny.”

The report also shows that rising interest rates in the US and its almost full replication by most GCC central banks during 2022 resulted in higher aggregate net interest margin for the region’s banking sector. 

NIM for GCC banks averaged at a multi-year high of over 3 percent during the fourth quarter of 2022, despite partially reflecting the higher interest rates as bulk of the rate hikes were made during the second half of the year. 

Saudi Arabia’s banks reported the highest average margin of 3.2 percent during the quarter followed by UAE and Qatari banks with margins also above the 3 percent mark after several quarters.

Aggregate lending in the GCC remained strong during the final quarter of 2022, with  central bank data showing Qatari banks experienced the strongest lending growth during, while Bahrain and the UAE banks showed a slight decline. 

Customer deposits bounced back to a stronger growth over the same period, with a quarter-on-quarter increase of 2.5 percent to reach $2.2 trillion 


Riyadh chosen to host Global Real Estate Summit

Riyadh chosen to host Global Real Estate Summit
Updated 31 March 2023

Riyadh chosen to host Global Real Estate Summit

Riyadh chosen to host Global Real Estate Summit

RIYADH: Saudi Arabia will host the 42nd edition of the Global Real Estate Summit next December in Riyadh, it has been announced.

The summit is considered the industry's largest annual gathering, and sees real estate leaders and CEOs from all over the globe coming together, according to the Saudi Press Agency.

The event will address the Saudi real estate sector in light of the Kingdom's Vision 2030 and its successes achieved to date.

Workshops, meetings, and lectures aiming to deal with the challenges of the real estate industry as well as available investment opportunities will be held throughout the event. 

There will also be discussions on the role of the industry's leaders in creating revolutionary ideas through best international practices and the mechanism of their application in the region.

A visit to prominent major projects will also occur during the summit.

The Kingdom’s achievement in hosting this global summit comes after the World Real Estate Federation meeting in Cannes, France, held on March 15, with the participation of Eye of Riyadh, the media partner of the international real estate event MIPIM, held between March 14 to 17.