Majority of Saudi companies gearing up for future with AI technology: Business report

Arab News
June 19, 2019

Riyadh, Jun 19: Companies in Saudi Arabia are gearing up to take advantage of the latest advances in artificial intelligence (AI), according to an in-depth regional business report.

Although firms in the Kingdom remain wary of committing major investment to the emerging technology, many are already implementing data improvement initiatives to prepare for an AI-enabled future.

New research revealed on Tuesday that 89 percent of Saudi businesses indicated AI to be an important consideration of executive management, with predictive technology seen as the most relevant application by 79 percent of companies who took part in the survey.

And experts believe the Kingdom is well-positioned to “leapfrog” other countries in the race toward achieving the goals of the Saudi Vision 2030 reform plan.

According to the AI maturity report covering the Middle East and Africa, commissioned by Microsoft and conducted by Ernst & Young (EY), the Saudi business community is keeping up to speed on developments.

Releasing the report to the media, Thamer Al-Harbi, president of Microsoft Arabia, said: “Saudi Arabian businesses are taking a keen interest in AI from a strategic viewpoint. This bodes well for the future of the technology within the Kingdom as AI maturity begins with executives identifying business problems that need to be solved.

“Saudi companies are gearing up to take their AI agenda to the next level and moving forward by leveraging AI technology in alignment with the National Transformation Program 2020 toward achieving Vision 2030.

“Although they are still near the beginning of the maturity curve, they are well-positioned to leverage global experience in AI, which could ultimately enable them to leapfrog other countries in the next few years,” added Al-Harbi.

Despite AI activity having been relatively quiet in Saudi Arabia over the past 10 years, with a total investment of around $585 million, the Kingdom emerged strongly again in 2018, said the report.

Across industries, there was a significant buzz around the topic of AI, with 42 percent of companies reporting that conversations on the subject were already taking place at non-managerial levels, the highest percentage recorded by any country in the Middle East and Africa, Al-Harbi said.

AI development, though in its earliest stages, is underway. At least 26 percent of businesses reported that they were planning AI activity, while at the same time actively investing in relevant skills.

Pockets of excellence were also shown to be emerging, with 16 percent of companies saying AI was already contributing significantly to their business processes.

While Saudi executives intuitively sense the value of AI, they are conscious that getting too caught up in the hype might blind them to the dangers of investing in technology that is only just starting to demonstrate its commercial value.

As it stands, the main concern for businesses in implementing AI is the diffusion of their resources.

The report found that at least 32 percent of firms in the Kingdom were cautious of spreading their budgetary and human resources too thin, and that the primary focus for most was digitization. Although 37 percent of respondents viewed AI as an important priority, it was not at the top of their list.

Instead, they were actively building the infrastructure needed for digital transformation, starting with good-quality data.

Steve Plimsoll, MENA data and intelligence advisory leader for EY, said: “The biggest problem to date with AI is that it is not always right. AI has given us the ability to make data-driven predictions, decisions and actions faster than ever before, but it is only as effective as the data and algorithms it relies on.

“So, while it’s great to see local companies investing in adoption of AI, the focus must be on building trust that the underlying data and algorithms are reliable, the models ethical and the predictions are measurable and as accurate as they can be. Without trust, AI will never fully move from fiction into reality.”

The report also revealed that in general, Saudi businesses were upbeat about the future impact of AI on their businesses and 37 percent expected it to impact their core business to a very high degree.

Those quizzed were particularly positive about the potential of AI to assist employees in executing their daily functions more effectively.

Currently, prediction was seen as the most relevant application of AI for 79 percent of Saudi companies, with organizations using AI to predict risk and fraud or combining it with intelligent automation to assign workloads to individuals, ultimately optimizing business processes, the report said.

The study added that 68 percent of respondents indicated that automation was one of the most relevant applications of AI in their pursuit of operational efficiency.

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News Network
June 12,2020

Beirut, Jun 12: Angry Lebanese protesters blocked roads across the country with burning tyres, debris and their vehicles, incensed over the local currency's depreciation by more than 25 percent in just two days.

The demonstrations from northern Akkar and Tripoli to central Zouk, the eastern Bekaa Valley, Beirut and southern Tyre and Nabatieh on Thursday were some of the most widespread in months of upheaval over a calamitous economic and financial crisis.

Protesters set ablaze a branch of the Central Bank, vandalised several private banks and clashed with security forces in several areas. At least 41 people were injured in Tripoli alone, according to the Lebanese Red Cross.

"I'm really pissed off, that's all. If politicians think they can burn our hearts like this the fire is going to reach them too," unemployed computer engineer Ali Qassem, 26, told Al Jazeera after pouring fuel onto smouldering tyres on a main Beirut thoroughfare.

Tens of thousands of Lebanese have lost jobs in the past six months and hundreds of businesses have shuttered as a dollar shortage led the Lebanese pound to slide from 1,500 to $1 last summer - where it was pegged for 23 years - to roughly 4,000 for each US dollar last month.

But the slide turned into a freefall between Wednesday and Thursday when the pound plummeted to roughly 5,000 to $1 on black markets, which have become a main source of hard currency. There was widespread speculation the rate hit 6,000 or even 7,000 pounds to the dollar, though most markets stopped trading.

Protesters began amassing on streets across the country before sunset and increased into the thousands across the country as the night fell.

Prime Minister Hassan Diab cancelled all meetings scheduled for Friday to hold an emergency cabinet session at 9:30am and another at 3pm at the presidential palace to be headed by President Michel Aoun.

The pound's collapse is the perhaps the biggest challenge yet for Diab's young cabinet, which gained confidence in February after former prime minister Saad Hariri's government was toppled by an unprecedented October uprising that had the country's economic crisis at its core.

Economy Minister Raoul Nehme told Al Jazeera that there was "disinformation" being circulated about the exchange rate on social media and said he was investigating possible currency manipulation.

"I don't understand how the exchange rate increased by so much in two days," he said.

Many protesters have pitted blame on Central Bank governor Riad Salameh, nominally in charge of  keeping the currency stable. But they have also called on the government to resign.

"If people want reform between dawn and dusk, that's not going to work, and if someone thinks they can do a better job then please come forward," Nehme said.

"But what we can't have is a power vacuum - then the exchange rate won't be 5000, it'll be a catastrophe."

'Everyone paying the price'

When protesters set a large fire in Beirut's Riad al-Solh Square, which lies at the foot of a grand Ottoman-era building that serves as the seat of government, firefighters did not intervene to extinguish it.

It later became clear why: Civil Defence told local news channel LBCI they had run out of diesel to fuel their firetrucks.

Basic imports such as fuel have been hit hard by the currency crisis, making already-weak state services increasingly feeble.

A half-dozen or so police officers with Lebanon's Internal Security Forces observed the scene unfolding in front of them in the square.

"Why do you destroy shops and things and attack us security forces - do you think we're happy? Go and f****** break that wall or go to the politicians' houses," one police officer told Al Jazeera, referring to a large concrete barrier separating protesters from the seat of government.

"In the end we are with you and we want the country to change. Don't you dare think we're happy. My salary is now worth $130," the officer said.

The currency's spectacular fall seems to have pushed many Lebanese to put common interests above their differences.

Large convoys of men on motorbikes from Shia-majority areas of southern Beirut joined the demonstrations on Thursday, though they have clashed with protesters many times before - including at a protest on Saturday.

Some chanted sectarian insults, leading to brief clashes in areas that were formerly front lines during the country's devastating 15-year civil war.

Instead, the motorbike-riding demonstrators on Thursday chanted: "Shia, Sunni, F*ck sectarianism."

"We are Shia, and Sunnis and Christian are our brothers," Hisham Houri, 39, told Al Jazeera, perched on a moped with his fiancee behind him just a few metres from a pile of burning tyres.

The blaze sent thick black smoke into the sky towards an iconic blue-domed mosque and church in downtown Beirut.

"Politicians play on these sectarian issues and sometimes succeed, but in the end, they'll fail because all the people have been hurt," he said. "The dollar isn't just worth 6,000 for Shias or for Sunnis, everyone is paying that price."

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News Network
January 16,2020

Dubai, Jan 16: The UAE Ministry of Climate Change and Environment on Wednesday announced that it has banned the import of birds, some eggs and meat products from Hungary and Slovakia.

The ministry said the decision was taken following a notification from the World Organization for Animal Health (OIE) on the outbreak of a highly pathogenic strain of bird flu, H5N2, in the two countries.

Accordingly, the ministry has banned "the import of all species of domestic and wild live birds, ornamental birds, chicks, hatching eggs, meats and meat products and non-heat-treated wastes from Hungary and Slovakia".

It has also regulated the import of poultry meat and non-heat-treated products, requiring a health certificate for the export of meat and meat products from the two countries to release consignments into the UAE.

A health certificate will be needed for the import of eggs, the ministry added.

However, thermally-treated poultry products (meat and eggs) have been cleared for import from all parts of Hungary and Slovakia.

Kaltham Ali Kayaf, Acting Director, Animal Development & Health Department at the ministry, said: "These measures reiterate the ministry's keenness in achieving its strategic objectives including enhancing bio-security levels and eliminating pathogens before they enter the country. In doing so, the ministry prevents the bird flu virus and related risks and impacts on the country's poultry health and safety, in addition to protecting public health and well-being."

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Agencies
February 5,2020

Paris, Feb 5: Saudi Arabia has reported an outbreak of the highly pathogenic H5N8 bird flu virus on a poultry farm, the World Organisation for Animal Health (OIE) said on Tuesday, February 4.

The outbreak, which occurred in the central Sudair region, killed 22,700 birds, the OIE said, citing a report from the Saudi agriculture ministry.

The other 385,300 birds in the flock were slaughtered, it said.

The case was the first outbreak of the H5N8 virus in Saudi Arabia since July 2018.

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