Today's Edition
ABU DHABI (WAM)
The 2024 AIM Congress, the world’s leading investment platform, commenced at the Abu Dhabi National Exhibition Centre (ADNEC) with a series of dynamic sessions under the Innovation and Technology Track, SMEs Track - Entrepreneurs Investment Summit, and Future Finance Forum Track.
Over three days, from May 7th to May 9th, the AIM Congress brought together visionaries and experts to explore cutting-edge developments and foster collaboration in key sectors.
The Innovation Track at the 2024 AIM Congress brought together industry leaders, innovators, and policymakers to explore the transformative potential of emerging technologies in driving economic growth and sustainability. The track featured engaging discussions on topics ranging from IoT and digitalisation to AI systems and sustainable urban development.
Moderated by Glen Gillmore, the sessions delved into the critical role of data-driven decision-making in shaping future industries. Speakers such as Catalina Valentino of ELIXR and Charles Austen Angell of Modern Edge Inc. emphasised the importance of leveraging digital twins and AI integration to optimise operations and enhance productivity. They highlighted how advancements in AI and IoT are revolutionising industries, making cities smarter, and creating safer and more sustainable environments.
Martin Yates from Presight G42 underscored the importance of trustworthy data in AI applications, emphasising the need for robust data management practices and regulatory frameworks to ensure ethical and responsible AI deployment. Steve Nouri of Generative AI emphasised the power of collaboration and knowledge-sharing in driving AI innovation, advocating for a collective approach to harnessing the potential of AI for societal benefit.
The Innovation Track also explored the challenges and opportunities in adopting innovative technologies for sustainable development. Panelists discussed the need for holistic approaches to urban planning and development, integrating digital solutions with environmental sustainability goals. Lilly Lau, founder of DESMO, highlighted the importance of cybersecurity in IoT environments, stressing the need for robust security measures to protect data and ensure user privacy.
Overall, the Innovation Track provided valuable insights into the transformative potential of emerging technologies in driving economic transformation and fostering sustainable development. As industries continue to embrace digitalisation and AI, collaboration, responsible innovation, and ethical considerations will be key to realising the full potential of technology in shaping a more inclusive and resilient future.
"The best place is in digital twins. Building cities advances in AI. Making the environment safer is difficult due to the data; recognising accurate data is crucial," said Catalina Valentino, CEO of ELIXR.
"AI is not a replacement of intelligence; AI is a supplement to the brains we have. We have to think of reinforcing growth. Thinking about everybody is important," said Charles Austen Angell, CEO of Modern Edge Inc.
The SMEs Track at the 2024 AIM Congress convened entrepreneurs, policymakers, and industry experts to explore strategies for fostering entrepreneurship, promoting economic growth, and overcoming challenges in the SME sector. Under the guidance of moderator Reinhold Von Sternberg, the sessions provided valuable insights into various aspects of SME development, investment, and innovation.
Panellists such as Christian Purstinger of Terraplasma Medical and Karima Catherine of BeBeeMatch shared their experiences and expertise, highlighting the importance of supply chain resilience, digitalisation, and customer retention for SME success. They emphasised the need for collaboration, adaptability, and innovation in navigating disruptions and seizing opportunities in dynamic market environments.
The discussions also addressed the role of government policies and international cooperation in supporting SMEs, particularly in emerging economies. Dr. Assia Ben Saad of AMDIE and Ibraev Danil of the Kyrgyz Union of Industry and Entrepreneurship emphasised the importance of fostering an enabling environment for SMEs through supportive regulatory frameworks, access to finance, and capacity-building initiatives.
Furthermore, the sessions explored the potential of alternative lending platforms, such as peer-to-peer (P2P) lending, in addressing the financing needs of SMEs. Panelists discussed the advantages of P2P lending in providing faster access to capital, especially for micro SMEs, and the importance of risk management and regulatory oversight in ensuring the stability and integrity of these platforms.
Overall, the SMEs Track provided a platform for stakeholders to exchange ideas, best practices, and innovative solutions for supporting SME growth and resilience. As SMEs continue to play a vital role in driving economic development and job creation globally, fostering an ecosystem that enables their success will be crucial for building more inclusive and sustainable economies.
"SMEs are the backbone of the government. Delivery and e-commerce are using AI. They are having issues like delivery issues. Interactive-based technology. Excess management system is important," said Thami Zondi, Economic and Development and Investment Expert, RSA
"99 countries, 160 subsectors. How to bring more opportunity for SMEs is the main aim. 95 to 99 percent of the economy of the country they don’t have economy and have financial problems. Chatbots are extremely important in customer communications and retention, and so is Google," said Karima Catherine, Founder CEO of BEBEEMATCH, Canada Advocate
The Future Finance Forum Track at the 2024 AIM Congress brought together industry leaders, experts, and policymakers to explore the transformative role of technology in shaping the future of finance. Through engaging discussions and fireside chats, participants delved into key trends, challenges, and opportunities reshaping the financial landscape.
One of the focal points of the track was cybersecurity, with renowned keynote speaker Edgar Perez leading a fireside chat on enhancing cybersecurity in financial systems. Perez emphasised the critical role of artificial intelligence (AI) in fraud detection and prevention, highlighting the power of AI technologies like ChatGPT in safeguarding financial institutions against cyber threats. The session also addressed the implications of deepfakes and the importance of responsible technology use in preserving privacy and security.
Another highlight of the track was a fireside chat featuring Peter Tavaner, co-founder of Beehive, who provided insights into the comparative analysis of peer-to-peer (P2P) lending and traditional banking. Tavaner underscored the benefits of P2P lending, such as quicker access to funds and tailored financial solutions for SMEs, while also addressing common misconceptions about risk and security in P2P lending platforms.
Additionally, sessions focused on the evolving role of AI and digital technologies in auditing and accounting. Speakers such as Prasanna, CEO of Blockstack, and Bernhard Schatz from PwC discussed the impact of AI on job security, efficiency, and data accuracy in the accounting profession. They emphasised the need for continuous training and adoption of technology to stay competitive in a rapidly evolving industry.
Overall, the Future Finance Forum Track provided a comprehensive exploration of the intersection between finance and technology, highlighting the opportunities for innovation, collaboration, and adaptation in the digital age. As financial institutions navigate the complexities of an increasingly interconnected world, embracing technological advancements will be key to driving efficiency, security, and resilience in the financial sector.
