UAE aims to rival US and China in A.I. with its advantageous size.

UAE aims to rival US and China in A.I. with its advantageous size.

The UAE’s Transition to Clean Energy

The United Arab Emirates (UAE) is often associated with oil, but the country is making significant strides in transitioning away from carbon-emitting energy sources. This unexpected move towards clean energy is driven by the recognition of its importance for the country’s future survival. Sultan Ahmed Al Jaber, the head of Abu Dhabi National Oil Corporation, emphasized the need for transformational progress and inclusive stakeholder engagement at the upcoming COP 28 meeting in Dubai. Al Jaber believes that businesses must be proactive in contributing practical solutions to achieve the goal of limiting global warming to 1.5 degrees Celsius.

Many may question how a small country like the UAE can compete with global powerhouses like the United States and China in industries like artificial intelligence (A.I.). However, the UAE has adopted a different perspective, seeing its size as an advantage rather than a hindrance. Omar Al Olama, the UAE’s Minister of State for Artificial Intelligence, highlighted that the lack of certain issues faced by larger countries, such as slower political processes and demographic challenges, gives the UAE the ability to quickly adopt new technologies like self-driving cars, drones, and robotics. Al Olama also emphasized the UAE’s focus on cultivating talent, aiming to train citizens to become the best in the world and attract the brightest minds from around the globe.

Supporting the UAE’s ambition to lead in A.I., the Mohamed bin Zayed University of Artificial Intelligence was established. Led by renowned Carnegie Mellon veteran Eric Xing, the university aims to attract talented students from all over the world and provide them with the necessary training for careers in Abu Dhabi. Beyond educating students, the university hopes to convince global businesses to establish advanced technology facilities in the country. Xing highlights the UAE’s strategic location as a gateway between East and West, its friendliness towards diverse nationalities, and its faculty members’ caliber comparable to top schools in the United States. Furthermore, the university offers full fellowships, residence, and other benefits to all students.

These remarkable efforts by the UAE to embrace clean energy and seize the opportunities offered by A.I. have garnered attention from global business leaders. The CEOs of the ANBLE Global 500, including Sultan Ahmed Al Jaber, Omar Al Olama, and Eric Xing, have all agreed to participate in the ANBLE Global Forum in November. This prestigious event will bring together prominent global and regional business leaders to explore and shape the future of technology and innovation.

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Going all-in on A.I.

Amazon CEO Andy Jassy announced that “every single one” of Amazon’s businesses is embracing generative artificial intelligence (A.I.) technology. After the release of ChatGPT, a powerful language model, last year, Amazon, like other tech companies, recognizes the vast potential of A.I. This news coincides with Amazon’s impressive financial performance, reporting $6.7 billion in quarterly net income, far exceeding expectations and resulting in a nearly 9% increase in the company’s share price.

China cramming

Chinese officials are making efforts to improve China’s ranking in the upcoming World Bank ease-of-doing-business index, launching as a pilot in the following year. The previous “Doing Business” index was retired in 2021 after allegations of data manipulation to boost China’s ranking surfaced. With concerns over low business confidence from regulatory crackdowns and a sluggish economic recovery, China is keen to avoid dropping several spots in the new index.

Around the Watercooler

• Elon Musk and Mark Zuckerberg might be right: Remote workers are less productive – Recent research indicates that the average workday has shortened by 37 minutes over the past year, and fewer people are working overtime shifts. This finding seems to lend support to the claims made by Elon Musk and Mark Zuckerberg regarding decreased productivity with remote work arrangements.
• Why the economy feels so bad when experts say it’s so good – Despite experts’ positive assessments of the economy, many people perceive economic conditions differently. Alicia Adamczyk explores the potential reasons behind this disconnect between expert analysis and public sentiment.
• London knocked out of ANBLE Global 500’s top 5 cities for the first time in 5 years – London’s position in the top 5 cities of the ANBLE Global 500 rankings has been overtaken, raising concerns about the city’s ability to regain its position in the future. Experts analyze the factors contributing to this change.
• Commentary: Did Fitch ditch its credibility by playing politics? – Jeffrey Sonnenfeld and Steven Tian discuss the role and fallibility of rating agencies, highlighting Fitch Ratings as an example and questioning whether these agencies sometimes allow political considerations to influence their judgments.
• Commentary: From tennis courts to corporate governance, here’s how far diversity, equity, and inclusion have come – Billie Jean King and Aniela Unguresan reflect on the progress made towards diversity, equity, and inclusion in various spheres, from sports to corporate governance. They celebrate the achievements thus far and emphasize the importance of continued efforts to foster inclusivity.

This edition of CEO Daily was curated by Nicholas Gordon.