Today's Edition
SARA ALZAABI (ABU DHABI)
Speaking to Aletihad, industry leaders in the UAE discussed their companies' role in supporting the UAE's transition to net-zero emissions, revolutionising event management, shaping blockchain technology and the future AI.
Net Zero 2050 Strategy
Amel Chadli, President of Gulf Countries at Schneider Electric, stressed the company's commitment to supporting the UAE's Net Zero 2050 Strategy.
She explained: "We are driving innovation in energy management and automation, providing digital solutions that accelerate the transition to clean energy. By implementing technologies such as AI, we enable real-time decision-making and predictive maintenance, ensuring seamless energy distribution and savings."
Schneider Electric's efforts are crucial, especially as the UAE aims for a 40% reduction in energy consumption by 2050.
Chadli also noted the company's economic impact on the UAE, contributing Dh205 billion by the end of 2023, in line with the "Make it in the Emirates" strategy.
She further stressed the importance of sustainability, saying: "By extending the Year of Sustainability to 2024, the UAE has underlined the critical role of environmental stewardship."
Schneider Electric's Sustainability Impact (SSI) programme has helped reduce over 800,000 metric tonnes of CO2 globally and tracks progress on sustainability targets, with an SSI score of 7.29, aiming for 7.40 by year end.
Chadli also praised their collaboration with the UAE government, spotlighting a shared vision for energy efficiency, sustainability, as well as digital transformation, which supports the country's renewable energy efforts.
Global Event Management
James Bulley, CEO and Co-founder of Trivandi, said the country has established itself as a hub for major international events.
"The UAE, with Abu Dhabi as a key centre, is rapidly becoming a global leader in the events industry. Its strategic vision and infrastructure investments have positioned it as a prime destination for events like Expo 2020 Dubai, COP28 UAE, and the Formula 1 Grand Prix."
Bulley also noted the significant growth of the Gulf Cooperation Countries' events industry, particularly within the $2.1 trillion global events market.
He said that the UAE is at the forefront of event growth, driven by advancements in infrastructure, technology and sustainability.
"AI and data analytics are transforming event delivery," he said, "by streamlining logistics, enhancing security, and offering personalised experiences."
However, Bulley acknowledged the challenges of organising large-scale events, such as Expo 2020 and F1, which involve complex logistics and diverse stakeholders.
He stressed the need for robust communication, collaboration and governance to ensure smooth operations.
Despite these challenges, he pointed to the UAE's world-class infrastructure and governmental support as critical factors in successfully delivering these events.
Bulley further predicted that the UAE's events industry would see significant growth over the next 5-10 years, fuelled by sectors like tourism, technology. and sustainability.
He cited Abu Dhabi's Vision 2030 as a key driver in reinforcing the UAE's status as a global events hub.
Blockchain Sector
Sudhu Arumugam, Chief Product Officer at M2, a virtual asset custodian and Multilateral Trading Facility, discussed the challenges facing the industry.
"Balancing regulatory compliance with the rapid development of blockchain technology is one of our biggest challenges," Arumugam said.
He noted the growing institutional interest in blockchain, particularly in areas beyond cryptocurrency, such as data security and supply chain management.
Arumugam also noted the rise of institutional staking and the tokenisation of real-world assets in decentralised finance (DeFi), further boosting blockchain's credibility.
He further stressed the need for continuous innovation, compliance and a strong regulatory framework to safeguard digital assets.
"We believe the UAE could become the most progressive jurisdiction for crypto and DeFi regulation, fostering innovation with clear and secure guidelines, putting it ahead of markets like the EU and US," Arumugam concluded.
AI Evolution
Dr. Tariq bin Hendi, Board Member and Managing Director of Astra Tech, discussed the challenges of promoting responsible AI governance.
He explained that the rapid evolution of AI technologies makes it difficult to establish standardised global regulations.
"Balancing innovation with concerns over data privacy and AI bias is crucial," he emphasised.
Astra Tech aims to benefit global communities by building inclusive solutions through its Ultra Platform, which offers micro-lending, remittances, digital payments and conversational commerce.
Bin Hendi also highlighted Astra Tech's strategic collaborations with the World Economic Forum (WEF), supporting the UAE's ambition to become a global digital leader and AI-driven economy.
"We aim to set benchmarks in ethical AI deployment and digital transformation," he added.
Bin Hendi noted that Astra Tech's mission aligns with the UAE's "We the UAE Vision 2031" – a campaign focused on advancing technological leadership, fostering a diversified economy and promoting sustainable development.
