< Previous30 Vol. 24/16, 16 – 31 December 2023 SUSTAINABILIT Y AI, Web3, Generative AI, Metaverse: 2023 was a big year for tech Navigating the impact of 2023’s technology will be key for 2024 success As we bid adieu to 2023, let’s take a moment to reflect on the tech that’s been stirring things up in our creative agency. From AI and Web3 to CGI, Generative AI, and the evolving Metaverse, it’s been a year of big leaps and bounds. ChatGPT, our AI sidekick, has been a game changer, handling everything from simple grammar changes to analysing and summarising docu- ments. It’s streamlined our work ows and added a pinch of AI magic to our daily grind, a god send to those who can't get their words out! Midjourney’s been our creative muse, transforming wild ideas into stunning visuals at breakneck speed. BY DAVID BALFOUR, LIGHTBLUE CO-FOUNDER TECHNOLO GY arabianbusiness.com 31 TECHNOLO GY ChatGPT, our AI sidekick, has been a game changer, handling everything from simple grammar changes to analysing and summarising document It’s revolutionised the way we approach the creative process, bring- ing an AI twist to our creative endeav- ours at the same time as saving time creating mood boards for our clients who needs to send something up the food chain quickly. Web3 has been all about building trust and transparency in the digital realm, resonating strongly with clients who value secure and authentic inter- actions, more will come on this in 2024 we are all very excited for this! Now, let’s talk CGI. You may remember Adidas’ campaign at the Dubai Frame featuring Lionel Messi. That CGI masterpiece not only captured the World Cup frenzy but also racked up a staggering 250 million organic views. It’s a prime example of how CGI can elevate a brand’s story- telling to epic proportions but don't be a ash in the pan - create a story for the brand and don't just do it for the sake of it... as we have also witnessed scenarios where the messaging can get very lost. Generative AI has opened up new horizons in content creation, pushing the limits of creativity and bringing to life ideas that were once just a gment of our imagination. Let’s chat about the Metaverse – the buzzword that’s been on every- one’s lips since the beginning of 2023. It promised a digital revolution and, well, it’s been a mixed bag. High costs and tech hurdles have made some hesitant, but there’s a silver lining. Take Vans World on Roblox, for example. Vans created an immer- sive skatepark experience where players could buy and wear NFT Vans in the game. The result? A whopping $652 million spent in Roblox by play- ers. And here’s the kicker: customers who designed shoes in the game could buy the real deal on Vans’ website. It’s a stellar instance of how the Metaverse can offer subtle brand placement that Gen Z loves, while also adding value and fun. The blend of AI, Web3, CGI, Gener- ative AI, and the Metaverse has been a cocktail of creativity and innovation in 2023. We’ve tailored experiences Looking ahead to 2024 and the future, we’re excited about the possi- bilities. Ethical and sustainability are key words from this year that play a huge part in AI, privacy-focused Web3, more immersive CGI, advanced Generative AI, and a Metaverse 2.0 that’s just waiting to show its full potential – it’s an exciting time to be in the creative eld. Re ecting on this year, it’s clear that our journey through AI, Web3, CGI, Generative AI, and the Metaverse has been about more than just embracing new tech. It’s been about using these tools to deepen connec- tions, create engaging content, and craft experiences that truly resonate. It’s been a year of blending cutting- edge tech with genuine human crea- tivity, and we’re eager to see where this fusion takes us next. David Balfour discusses how tech has been stirring the creative world. that resonate, built digital trust, and told stories that stick with audiences. It’s about the people, though. All this tech is fantastic, but at the end of the day, it’s about making mean- ingful connections, telling stories that matter, and creating experiences that stay with people long after they’ve logged o .32 Vol. 24/16, 16 – 31 December 2023 SUSTAINABILIT Y Strengthening cyber resilience: Insights from three years of hosting the DFSA’S threat intelligence platform The cost of cybercrime is only increasing, so the business community need to be prepared This year, the global damage cost of cybercrime is predicted to hit $8 trillion, and by 2025 it is projected to increase to a further $10.5 trillion. The nancial services sector is a prime target for cybercrim- inals who continue to exploit technol- ogy for illicit activities. Cyber attackers exchange detailed information on hacking and moneti- sation techniques through various online and offline methods. They create communities, host forums and attend conferences where they discuss the latest vulnerabilities in informa- tion security. At the Dubai Financial Services Authority (DFSA), we asked ourselves ‘why can’t we bene t from a similar model?’ Recognising cyber risk as a signif- icant threat for the organisation and the wider nancial services community, the DFSA has prioritised having robust BY WALEED SAEED AL AWADHI, CHIEF OPERATING OFFICER, DUBAI FINANCIAL SERVICES AUTHORITY (DFSA) The nancial services sector is a prime target for cybercriminals who continue to exploit technology for illicit activities TECHNOLO GY information technology infrastructure, internal controls, and governance. These measures aim to manage cyber risks e ectively and to enhance prepar- edness for cyber incidents. Three years ago, the DFSA intro- duced the Threat Intelligence Platform (TIP), marking the inception of the rst regulator-led platform of its kind in the Middle East region. The TIP’s primary purpose is to establish a thriving threat intelligence sharing community. The TIP, designed with community members at the forefront, supports day-to-day operations by e ciently sharing structured information. This aids community members to priori- tise responses to cyber threats and enables them to implement appropri- ate safeguards to mitigate cyber risks. It may be helpful to think of the TIP community as a herd: the herd is stronger and better protected when all members actively share information about threats or attacks. When one is threatened, information is shared quickly, defending the whole group. This collaborative approach enhances the community’s overall security, making it a signi cantly harder target than an individual entity. To date, 280 Dubai International Financial Centre (DIFC)-based rms, as well as several local banks, have joined the TIP. And the information on the TIP now includes a diverse range of intelligence covering top arabianbusiness.com 33 TECHNOLO GY cyber threats such as ransomware, phishing, zero-day vulnerabilities and malicious sites. During the rst three years of the TIP, the DFSA, with support from Help AG, conducted several workshops to drive awareness of the evolving cyber threat landscape, attacker techniques, common threats, common methods to address attacks, and incident response methods. These workshops reinforced the bene ts of using the DFSA’s TIP for threat intelligence, as well as the importance of informed and proactive incident response. With the help and participation of reputa- ble threat feed providers and special- ist support partners, the DFSA will continue to conduct workshops to reinforce the platform's value propo- sition, cultivate trust, and expand the pool of contributors. The platform’s success relies on adoption of the platform by DFSA-reg- ulated firms and others inside and outside the DIFC is expected. The DFSA aims to expand partner- ships, communities and innovate further to support local and govern- ment-led cybersecurity initiatives. The DFSA’s inaugural report on TIP, titled Launching a Cyber Threat Intel- ligence Sharing Community in the Dubai International Financial Centre, underscores our call – both to existing participants and those who are not already part of the TIP network – to join the community and work together for the common good in increasing cyber resilience in the DIFC, Dubai and the UAE. We anticipate that continuing to provide the platform as a public service will encourage openness, trust, wider participation, and ongo- ing contribution. Waleed Saeed Al Awadhi, Chief Operating Of cer, Dubai Financial Services Authority (DFSA) community contributions, ongoing adoption, and value recognition. As cybersecurity operations mature within the region and the DIFC, further TECHNOLO GY34 Vol. 24/16, 16 – 31 December 2023 TO U R I S M Tourism: A catalyst for social and environmental impact Well-planned and thoughtful tourism plans should have local communities at heart, as well as the visitors they hope to attract communities as they develop their tourism o ering. While announcing these promis- ing new global tourism numbers, UNWTO Secretary-General Zurab Pololikashvili also sent a warning, reminding destinations that they “must ensure tourism's return deliv- ers on its responsibilities as a solution to the climate emergency and as a driver of inclusive development." And there’s no time to waste. BY RAKI PHILLIPS, CEO, RAKTDA Well planned and thoughtful tourism plans should have local communities at heart, as well as the visitors they hope to attract TO U R I S M Tourism has enjoyed a uniquely rapid bounce-back, with many destinations back to pre-pandemic numbers. Here in the Middle East, we are excelling as the only region exceeding 2019 arrivals by 15 percent according to UNWTO which is fantastic news for the econ- omy. However, while celebrating speed and numbers, destinations must also ensure they continue their wider responsibilities to the local arabianbusiness.com 35 TO U R I S M United Nations data estimates that the world population will hit 8.5 billion in 2030, which will bring 50 million new tourist arrivals per year between 2023 and 2030, according to the UNWTO. So, what does that mean for the destina- tions they are ocking to? Keeping local communities at the heart of strategy When building a tourism strategy, the rst consideration may often be the tourist’s experience. But this is not where we should start. Well-planned and thoughtful tourism plans should have local communities at heart, as well as the visitors they hope to attract. The profound e ect that tourism has on the lives and livelihoods of local people should never be underesti- mated. Increasingly, we are seeing over tourism and its detrimental e ects on local communities, their surroundings, and cultural identities come to the forefront. If done properly, and with input from the native communities, tourism should not only provide reve- nue and jobs, but also enhance health- care, housing, education, and the over- all wellbeing of the people who call the destination their home. As CEO of Ras Al Khaimah Tourism and Development Authority (RAKTDA), my job is to ensure we take an inclusive approach to our destination tourism strategy. As well as the primary bene- fits of bringing jobs to locals and enhancing their daily lifestyles, we also aim to promote an environment of diversity by employing people from all backgrounds, while also protecting local communities by fostering programmes and initiatives that equip community members with the skills needed to work in the tourism industry and preserve their cultural heritage. Furthermore, Ras Al Khaimah is known as the Nature Emirate and with that comes a great responsibility to both promote and protect its superb landscapes, as well as the rich local culture and heritage. Central to this is our enormous network of safe hiking trails which are carefully maintained to allow residents and visitors to enjoy the outdoors and celebrate the spectacular terrain Ras Al Khaimah is famous for. Intrinsically tied in with this nature offering is the Emirate’s sustainability mandate. Ras Al Khaimah is the rst destination in the Middle East to be awarded Silver Certi cation as part of the Sustaina- ble Destinations programme by EarthCheck, the world’s leading scienti c benchmarking and certi - cation programme for tourism desti- Raki Phillips, CEO, RAKTDA TO U R I S M36 Vol. 24/16, 16 – 31 December 2023 TO U R I S M nations. It is underpinned by in-depth scientific criteria and involves meticulous monitoring, benchmarking, and auditing across 10 sustainability indicators – from energy and water consumption to waste management, carbon footprint analysis and community engagement. And this sustainability certi cation is all the more significant when considering the challenges posed by the region’s climate, which requires a far more robust approach to managin g energy and w ater consumption in order to meet Earth- Check’s stringent requirements – so this is a major achievement for Ras Al Khaimah. RAKTDA’s sustainability initiatives are also positively impact- ing the wider UAE, as other emirates are using Ras Al Khaimah as a blue- print for their own green initiatives. Thoughtfully managing the growth of the hospitality market That is just one example of how RAKTDA takes responsible develop- ment seriously. A mindful approach to projects such as new hotel develop- ments is also essential. Close consul- tations with hospitality partners help ensure thoughtful development as well as a measured pipeline to avoid rapid, less well-planned expansion and over- crowding. We also have robust guide- lines and protocols to regulate sustain- ability standards and work closely with hotels to ensure sustainable practices such as the ‘Green Hotel Rating’, an initiative that aims to achieve 100 percent integrated sustainability by setting guidelines and protocols across new developments. In contrast, some destinations around the world are nding them- selves so heavily saturated by tourists who come, take their pictures, and leave, that tourism taxes are being introduced to help maintain the desti- nation’s infrastructure and the communities for whom those selfie spots are home. It is essential to respect residents and ensure that increasing tourism is bene cial for them. Preservation of the environment and culture needs to remain top prior- ity and tourism taxes, which are increasingly being introduced in popu- lar destinations around the world from Bhutan to Manchester, only partially help. While fees can cover costs of managing the in ux, for enrichment to happen, there must be robust collabo- ration between local stakeholders, from residents to local businesses. RAKTDA works closely with cultural organisations like the Al Qasimi Foun- dation and Suwaidi Pearl Farm to develop processes which protect the Emirate’s heritage and legacy, and we are also working with UNESCO to move four cultural sites from its World Herit- age Tentative list to its Permanent list. 51% of tourists say that climate change will impact the way they plan their vacations in 2024. Preservation of the environment and culture needs to remain top priority. TO U R I S M arabianbusiness.com 37 TO U R I S M Preserving culture and heritage A recent report by Booking.com predicts further demand for more sustainable tourism, and a commit- ment from the tourists themselves to contribute to conservation efforts within their destinations of choice. In their survey, they also found that the majority (51 percent) of tourists say that climate change will impact the way they plan their vacation in 2024, while three in five travellers (60 percent) say want to see sustainability in action when planning their next trip. It is encouraging that our visitors are on the same page as us. And conservation is not only about the environment – it is also about nurturing our heritage. The local Emirati community plays a key role in enriching tourism experi- ences, and nurturing home-grown talent is key to our strategy. RAKTDA works with students from American University of Ras Al Khaimah, and provides funds for scholarships and internships, which often turn into full time employment. It is essential to us as a sustainable-focused company that the people who know the emirate most intimately have a seat at the table in decisions around its future. It is also the locals who know the landscape the best. A collaborative approach will ensure destinations can leverage tour- ism to promote cultural exchange and understanding between visitors and locals. In Ras Al Khaimah, we have launched a tourist experience with mountain tribes, and events such as the Highlander hiking challenge can only be organised with the support of the wonderful communities who live in mountains villages. These tribes are sustainable by nature and have been for genera- tions, using sustainable practices such as utilising natural remedies and using traditional knowledge, in harmony with their environment, illustrating how sustainable practices have been an integral part of the local culture for hundreds of years – meaning we can learn so much from them. It is essential to respect resi- dents and ensure that increasing tourism is bene cial for them. Large-scale sporting events enhance local communities Sporting events do just this. We have now hosted 16 editions of the RAK Half Marathon, as well as the RAK Triathlon, the DP World Tour golf, and most recently, the World Minifootball Feder- ation (WMF) World Cup in November, during which we brought a host of community programmes and initia- tives to schools and communities. Beyond revenue opportunities, these events provided inspiration to locals to help ignite a love of sport and include them in the excitement of the event. We also made sure the games were free to attend, and that there were dedicated fan zones for guests to spend time in, helping them to feel a part of the tour- nament, rather than simply hosts. Global connectivity and its community bene ts With tourism comes improved trans- port links, which brings enormous bene t to residents in the shape of not only employment, but helping also connect them with the rest of the world. RAKTDA’s new partnership with Qatar Airways brings residents access to a wider network of 180 destinations. Coming back home, these travel activities are enhancing local economies and creating sustain- able livelihoods for residents, while ensuring that tourism activities respect and bene t local communi- ties, particularly in terms of job crea- tion and economic development in what is still a ‘lesser known’ Emirate. This in turn will lead to further investment and development. In summary UNWTO de nes sustainable tourism as activity which embodies “future economic, social and environmental impacts, addressing the needs of visi- tors, the industry, the environment and host communities”, and through its resolute commitment to nourish- ing and evolving its local as well as its tourist o ering, we are well on track to achieving just that. RAKTDA's sustainability initiatives are also positively impacting the wider UAE, as other emirates are using Ras Al Khaimah as a blue print. Conservation is key. Environment and cultural conversation are equally important.38 Vol. 24/16, 16 – 31 December 2023 SUSTAINABILIT Y Why clothing brands need to take sustainability seriously or risk alienating customers Understanding the importance of sustainability in the fashion industry is not just an ethical consideration; it is a business imperative In recent years, the fashion indus- try has faced an increasing spot- light on sustainability. The envi- ronmental and social impact of the clothing industry has prompted consumers to become more conscious of their purchasing choices. As the global awareness of climate change and ethical issues continues to rise, we find ourselves at a crossroads where ignoring sustainability could result in alienating customers. In this era of heightened environmental awareness, understanding the impor- tance of sustainability in the fashion industry is not just an ethical consid- eration; it is a business imperative. To understand the urgency of this matter, one must rst acknowledge the colossal environmental footprint of the fashion industry: •• 10 percent of microplastics BY SOPHIE MIRMAN, FOUNDER & CREATIVE DIRECTOR, TROTTERS CHILDRENSWEAR SUSTAINABILIT Y arabianbusiness.com 39 SUSTAINABILIT Y The environmental and social impact of the clothing industry has prompted consumers o become more conscious dispensed in our oceans come from manmade textiles •• 92 million tonnes of garments end up in land lls There will, of course, be many other statistics to shock us in to action. Indeed, there may be too many, leading to exasperation and inaction, especially as consumers face cost of living constraints and the attraction of low cost, low quality fast fashion. The water consumption, chemical usage, and carbon emissions associ- ated with traditional clothing manu- facturing are alarming, and consum- ers are becoming increasingly aware of these issues. Brands that neglect to address their environmental impact risk losing customers who prioritise sustainable practices and are willing to align their values with their purchasing decisions. Sustainability also compasses ethical considerations such as fair labour practices and supply chain transparency. Instances of exploita- tive labour conditions and social injustices in the fashion industry have garnered public attention, prompting consumers to demand accountability from the brands they support. Trotters is a small, family run business and we recognise that we cannot be all things to all people. We therefore concentrate on doing our very best in an honest and committed way, as failure to demonstrate a commitment to fair labour practices may result in a loss of trust and loyalty from socially conscious consumers. We understand the need to recognise that consumers are no longer satis ed with super cial greenwashing; they seek authentic and transparent e orts towards sustainability. The economic landscape is evolv- ing, and consumers behaviour is undergoing a fundamental shift. Millennials and Gen Z, in particular, are driving this change, as they actively seek out brands that align with their values. These generations, who make up and increasing portion of the consumer base, are more likely to support businesses that prioritise sustainability and social responsibility. practices. Conversely, those that embrace sustainability as a core value can leverage their eco-friendly initia- tives to build a positive brand image and foster customer loyalty. When I rst set up Trotters Chil- drenswear, back in 1990, I didn’t real- ise that what I was actually doing was prioritising sustainability and ethical practices, as these words didn’t really exist, 33 years ago! I knew I wanted to produce quality, durable and long-lasting clothing and footwear; I knew that I didn’t want to source from anonymous, giant factories in the Far East and I knew that personal rela- tionships throughout my supply chains were paramount. It was some- thing in me that I felt, not that it was an economic expedient. To this day, only tiny amounts are sourced long distance, with the over- whelming majority of both clothing and footwear being designed in London, by me and my team, and manufactured in mainland Europe. In fact, almost all of our suppliers have remained the very same as when we rst opened our doors, on London’s famous Kings Road, Chelsea and they, themselves, are also family owned and run businesses. 33 years later, despite having grown to 5 stores, plus concessions in Harrods, Selfridges and Liberty, qual- ity still means durability and sustain- ability. As I said, we cannot be all things to all people, but I am proud that Trotters plays its part in this growing trend. Sophie Mirman discusses the importance of sustainable fashion. Ethical. Consumers are no longer satis ed with super cial greenwashing. Brands that neglect these values risk losing market share to competitors that are more in tune with the evolving preferences of the modern consumer. The rise of social media has ampli- ed the impact of consumer sentiment on brands. Negative publicity surround- ing environmental or ethical issues can spread rapidly, damaging a brand’s reputation and eroding customer trust. In an era where information travels at the speed of a tweet, brands must be proactive in addressing sustainability concerns and showcasing their commitment to responsible business Next >