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digital economy



His Excellency Omar Sultan Al Olama has been appointed as Minister of State for Artificial Intelligence in October 2017, and then was appointed as Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications in July 2020. His responsibilities include enhancing the government performance levels by investing in the latest technologies and tools of artificial intelligence and applying them in various sectors. His Excellency Omar Sultan Al Olama is Spearheading UAE efforts to be positioned as a global leader in Digital economy, With the focus to enhance UAEs digital economy contribution to the GDP. His Excellency is also focused on strengthening the UAE's position as a global reference in remote work applications. His Excellency Omar Sultan Al Olama is currently the Managing Director of the World Government Summit.

5 digital transformation and talent retention ideas from MIT Sloan Management Review


Many of today's business challenges revolve around two core topics: navigating digital transformation and retaining talent. The latest insights from MIT Sloan Management Review focus on looking past common misconceptions about digital initiatives, setting the right KPIs for digital transformation success, and changing corporate culture and business operations so employees are more likely to stay. Just as today's business leaders should rethink common assumptions about the world of work and re-examine customer expectations, they may also need a new mindset about driving change. MIT Sloan senior lecturer George Westerman identifies four managerial assumptions about digital transformation that prevent enterprises from reaching their true potential. This emphasizes digital but not transformation -- the more difficult (and more important) element to address.

Enveil Secures $25 Million in Series B Funding


Enveil, the pioneering Privacy Enhancing Technology company protecting Data in Use, announced that it has closed $25 million in Series B funding. The oversubscribed round was led by USAA with contributions from existing investors which include Mastercard, Capital One Ventures, C5 Capital, DataTribe, In-Q-Tel, Cyber Mentor Fund, Bloomberg Beta, GC&H, and 1843 Capital. Building on an over 300% increase in revenue achieved since closing its Series A funding, Enveil will leverage the capital to expand sales, product development, and marketing activity to capitalize on the accelerating market need to span global data silos and enable secure and private data usage, sharing, collaboration, and monetization. This brings the total amount raised by the category-defining startup to more than $40 million since its formation in 2016. "Modern digital business requires crossing global data silos and the current barriers of trust are leaving massive unrealized data value" Digital transformation, the rise of the digital economy, and the broad recognition of data as an asset have transformed global data usage requirements.

Europe Is in Danger of Using the Wrong Definition of AI


What does it mean to be artificially intelligent? More than an endless parlor game for amateur philosophers, this debate is central to the forthcoming Artificial Intelligence Regulation for the 447 million citizens of the European Union. The AI Reg--better known as the AI Act, or AIA--will determine what AI can be deployed in the EU, and how much it costs an organization to do so. The AIA, of course, is not only a context for this conversation but an artifact of a much larger moment. Vast quantities of data are being gathered not only on us as individuals but also on every component of our societies.

Expanding your IT's maturity for strategic growth in 2022


The Covid-19 pandemic accelerated digital transformation and the need for IT departments to adapt to the working from home environment. While in recent months there has been a call from large corporates for the return of their staff to the office, many people have continued to work from their home offices. Some organizations have realized the benefits of a remote working culture, such as the ability to scale back on expensive offices, while others are adopting a hybrid approach that allows people to commute occasionally to the office and work from home most of the time. Infor-Tech Research Group says, "If the last two years have taught us anything, it's that organizations need their IT departments to survive and thrive in today's digital economy. This has now paved the way for IT leaders like yourself to expand on your department's maturity level and move out of a supportive role toward a more strategic role, enabling growth within your organization. The challenge then becomes, how do you move up the maturity ladder?"

Disrupting centralised structures of digital economy using AI and Blockchain - Business Reporter


Access to AI and blockchain technologies has been democratised, but humans still lack full control of their digital interactions. This is now beginning to change. Technologies such as AI and blockchain are now becoming more commonplace across multiple industries – healthcare, finance, agriculture, construction and more. As a result, increasing numbers of people worldwide – even in economies still in the early stages of technological empowerment – are, knowingly or not, starting to come into contact with them on a near-daily basis. However, until recently, these technologies had been the domain of large companies in the tech, pharmaceutical or trading worlds, which meant that, on the whole, access to them for the everyday person was either minimal, or indirect.

Council Post: The Race To Digitize And The Rise Of Information Gaps


Business leaders had to navigate and overcome a variety of challenges over the last 18-plus months, to say the least. And they've simultaneously been tasked with implementing new strategies to maintain and lead their companies to success. With the sudden transition to a remote workforce and workplace, we've witnessed a race to digitize and migrate to the cloud. Like in any race, there are winners and losers -- those who track ahead of the pack and those who lag behind, unable to clear the hurdles in their path. Among these obstacles are information gaps, a business challenge that has long persevered and one the pandemic has only sought to exacerbate.

China wants in on digital economy pact, pledges global collaboration


China has formally applied to join the Digital Economy Partnership Agreement (DEPA), pledging to work with all parties to drive the "healthy and orderly" development of digital economies. The global partnership pact currently covers Singapore, New Zealand, and Chile, with others such as South Korea and Canada expressing interest in joining the agreement. In force since 7 January 2021, DEPA establishes common digital trade rules and seeks to drive interoperability between different regimes and digital systems of participating nations. Under the agreement, businesses in Singapore, New Zealand, and Chile can achieve greater efficiencies, trust, and reduced costs when trading and conducting digital transactions with one another, said Singapore's Ministry of Trade and Industry. For example, digital identities could be mutually recognised, mechanisms would be developed to secure personal data transferred across borders, and common e-invoicing standards could be adopted to reduce processing time. Currently the only regional organisation to adapt UN's 11 norms of state cyberspace behaviour, Asean pledges to drive deeper collaboration and interoperability amongst member states and calls for other international communities to cooperate amid increasing cyber threats.

Weekly Top 10 Automation Articles


The new open-source IBM Cloud-Native Toolkit is the focus of this week's automation tales. This solution is for individuals who want to integrate and execute AI and machine learning technologies in cloud environments. Codex, a deep learning model that generates software source code, has been revealed by OpenAI. One of the most compelling reasons to adopt a public workspace is to improve developer onboarding by shortening the time to first call (TTFC), the most essential measure for a public API. While Elon Musk's brain-chip company messes around with gaming monkeys, another group of researchers has achieved a major milestone in neuroprosthetics: allowing a man who can't talk to form sentences with his mind.

Artificial intelligence, blockchain and the future of Europe: How disruptive technologies create opportunities for a green and digital economy


Artificial intelligence and blockchain technologies have the potential to revolutionise the way we work, travel, relax, and organise our societies and day-to-day lives. Already today, they are improving our world: artificial intelligence was crucial in speeding up the development and production of COVID-19 vaccines, while blockchain has the potential to not only disrupt the financial system, but also help us track and report greenhouse gas emissions better, optimise commercial transport and create genuine data privacy protection. The further development of both technologies – guided by ethical and sustainability principles – has the potential to create new pathways for our growth, driving technological solutions to make our societies truly digital and greener, and ultimately keep the planet habitable. This report, produced by the European Investment Bank and the European Commission, provides a global overview of the state of play of both technologies. It shows that Europe needs to address an investment gap of up to €10 billion that is holding back development and deployment of artificial intelligence and blockchain technologies in the EU.