FORTUNE FAVOURS THE BOLD International entrepreneur Oweis Zahran on what happens when you reach the top JANUARY 2023 # 188 UAEAED 20 KSASAR 20 BAHRAINBHD 2 KUWAITKWD 2 OMANOMR 2 CONTENTS JANUARY 2023CEOMIDDLE EAST3 JANUARY 2023 # 188 FORTUNE FAVOURS THE BOLD International entrepreneur Oweis Zahran on what happens when you reach the top JANUARY 2023 # 188 UAEAED 20 KSASAR 20 BAHRAINBHD 2 KUWAITKWD 2 OMANOMR 2 6 EDITOR’S LETTER 8 COMMENT While artificial intelligence is entering every business sector, communication will still remain the purview of the human, writes Aaron Illathu, Junior Account Manager at Atteline 12 LEADERSHIP Employee listening needs to be more than something businesses brag about, believes Ayman Kattan, Chief People Officer, Bayzat 16 LEADERSHIP Leaders are just as accountable in the battle against climate change, writes Murtaza Hashwani, Chairman of Hashoo Group 18 LEADERSHIP Organisational culture is more crucial for success than ever before, says Paula Leech, Senior HR Director at Microsoft Middle East & Africa 24 GOVERNANCE Dubai’s continued growth will depend on maintaining a high level of governance, believes Karim Merchant, CEO, Pure Gold Living 16 0812 24CONTENTS 4 CEO MIDDLE EAST JANUARY 2023 26 ECONOMY Technology will help drive the region’s success in 2023, says Joe Hepworth, Director for Middle East at OCO Global 28 FINANCE Financial institutions need to change their practices or face disruption, writes Saeed Alajou, Senior Director and GM of Unifonic UAE 30 SUSTAINABILITY Solving the problem of agriculture will be key to the region’s future success, believes Dr Walid Saad, CEO and co-founder of World of Farming (WoF) 32 HOSPITALITY The World Cup will provide a great legacy for the region’s reputation, says CEO Zahara Malik 20 26 32 30 Auto industry entrepreneur Oweis Zahran explains to CEO Middle East where a leader goes when they’re already at the top of their game COVER STORY 28Thursday 26 th January 2023 Museum of the Future, Dubai, UAE Recognising the pioneers and thought leaders across the region’s business, economic and financial landscape COMMERCIAL ENQUIRIES Mansi Khatwani Group Commercial Director Tel: +971 4 444 3242 GSM: +971 52 574 0236 E-mail: mansi.khatwani@itp.com EVENT ENQUIRIES Daniel Fewtrell Director of Awards & Marketing Tel: +971 4 444 3684 GSM: +971 50 276 5706 E-mail: daniel.fewtrell@itp.com Achievement Awards 2023 Scan to visit website www.connect.arabianbusiness.comEDITOR’S LETTER 6 CEO MIDDLE EAST JANUARY 2023 plans colour the GCC’s bright future into 2023. While the region has already had some success in 2022, compared to the global economic outlook, 2023 promises more positivity and prosperity. Our cover story this month neatly ties in with this, as we are pleased to feature entrepreneur Oweis Zahran on the front cover. Zahran’s career spans success in the automotive world, entertainment and investment, and he shares his thoughts on the difficulties of navigating sectors that are so diverse from one another beginning on page 20. In particular, his thoughts on management are enlightening, particularly his phrase: “A strong team makes you stronger, a weak team makes you weaker. If you want to go fast, go alone, but if you want to go far, you go together.” Other experts have already previously noted the importance of governance as the key to unlocking long-term success (page 24). In addition, leaders will need to pay close attention to the employee trends that have begun post- pandemic that we have already dedicated significant time acknowledging – such as mental wellbeing and employee welfare. Turn to page 18 for more on how managing organisational culture can also help leaders succeed. 2022 was also the year when Web 3.0 trends finally became a mainstream topic of conversation. Now, scarcely a meeting or event goes by where discussions don’t inevitably turn towards how businesses to prep for navigating the metaverse, NFTs, and cryptocurrencies. One particular facet that seems to have been relatively undeveloped is that of the role of data storage in the metaverse world, a dynamic which we dive into in more detail on page 38. Finally, with the World Cup behind us, it’s time for the region to start capitalising on the success of the mega tournament. With thousands of tourists exposed to the GCC and the Arab world for the first time, there are significant opportunities for future successes, turn to page 32 for more on this. Until next time. Share your views on thought leadership and innovation by getting in touch: matthew.amlot@itp.com QUESTIONS? COMMENTS? MATTHEW AMLÔT Managing Editor @MatthewAmlot THE BEACON OF STABILITY As our thoughts turn to 2023, the Middle East looks primed for prosperity H ello and welcome to our first issue of CEO Middle East for 2023. Last issue we spent time looking back over the challenges brought on by tumultuous 2022. Now though, we have the opportunity to look ahead for the opportunities in 2023. In mid-December I was privileged to attend a technology awards ceremony in Abu Dhabi, during which one keynote speaker noted the Middle East’s, and specifically the GCC’s, remarkable ability to maintain its role as “the beacon of stability” for the global economy. Visionary top-down leadership and ambitious growth JANUARY 2023CEO MIDDLE EAST 7 To receive your copy delivered directly to your door, subscribe online at www.itp.com/subscriptions The most important business people and CEOs talk to the most important magazine DECEMBER 2022 #187 STRIKING DIGITAL GOLD Global entrepreneur Alex Reinhardt opens up on leadership, building success, and the prospects for blockchain UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. The opinions and views contained in this publication are not necessarily those of the publishers. Readers are advised to seek specialist advice before acting on information contained in this publication which is provided for general use and may not be appropriate for the reader’s particular circumstances. The ownership of trademarks is acknowledged. No part of this publication or any part of the contents thereof may be reproduced, stored in a retrieval system or transmitted in any form without the permission of the publishers in writing. An exemption is hereby granted for extracts used for the purpose of fair review. ITP MEDIA GROUP CEO ALI AKAWI CFO TOBY JAY SPENCER-DAVIES MANAGING DIRECTOR ALEX REEVE DEPUTY MANAGING DIRECTOR ANIL BHOYRUL EDITORIAL MANAGING EDITOR MATTHEW AMLÔT matthew.amlot@itp.com SUB EDITOR EDWARD LIAMZON SENIOR DESIGN MANAGER GERI BATARA SONNY DESIGNER MOHAMMED IRQSOSY EVENTS & MARKETING DIRECTOR OF AWARDS & MARKETING DANIELFEWTRELL +971 4 444 3684 Daniel Fewtrell@itp.com ADVERTISING GROUP COMMERICAL DIRECTOR SARASWATI AGARWAL +971 4 444 3352 saraswati.agarwal@itp.com SENIOR COMMERCIAL MANAGERR MANSI KHATWANINI +971 4 4443242422 mansi.khatwani@ni@i@ittp.c.comm PO BOX 500024, DUBAI, UAE +971 4 4 44 3000 OFFICES IN ABU DHABI, DUBAI & LONDON PHOTOGRAPHY PHOTOGRAPHER JULIUS GARCIA VIDEOGRAPHER MUHAMMAD KALEEM VIDEO EDITOR LIJU CHERUVATHUR PRODUCTION & DISTRIBUTION PRODUCTION MANAGER DENNY KOLLANNOOR PRODUCTION COORDINATOR MANOJ MAHADEVAN SENIOR IMAGE EDITOR EMMALYN ROBLES CIRCULATION CIRCULATION EXECUTIVE RAJESH PILLAI DISTRIBUTION COORDINATOR AVINASH PEREIRA ITP LIVE GENERAL MANAGER AHMAD BASHOUR PUBLISHED BY AND © 2023 ITP MEDIA GROUP FZ-LLC. MEDIA8 CEO MIDDLE EAST JANUARY 2023 rtificial intelligence (AI) is eve- rywhere in our everyday lives. It helps drive your car, unlock your phone with face ID, predict the stock market, recommend what to watch on Netflix, read your resume, and even vacuum your floors. It is meant to make our lives easier both on an individual level as well as in the business world. Businesses are expected to undergo large-scale changes in order to survive and remain competitive in today’s ever- changing political, social, and economic climate. Artificial intelligence has enor- mous potential to help businesses adapt to new dynamics. As much as automation and the use of algorithms can help reduce the complexity of the workplace, they cannot fully replace what makes humans unique: our ability to understand the context and fit multiple strands of information into a bigger picture that helps solve prob- lems. Here are some things to keep in mind when thinking about artificial intelligence in PR. Understanding humans First, let’s look at the research. A recent study looked at how likely it is that cer- tain jobs would be replaced by AI within the next 20 years. They found an 18 percent probability that PR specialists will eventually suffer this fate. AI will face limitations when it comes to understanding people. This is because humans are complex creatures with a wide range of needs and desires that often defy calculation or prediction. Despite the notion that our careers are being usurped by artificial intel- ligence, we’re still able to do things that computers cannot. While it might seem like our jobs are increasingly devoted to answering customer questions and searching influencer engagement rates, it pays to remember that PR professionals actually have a much wider range of skills than that. At its heart, PR is about un- derstanding people – something even the most advanced AI systems cannot do. The value that public relations profes- While artifi cial intelligence is entering every business sector, communication will still remain the purview of the human, writes Aaron Illathu, Junior Account Manager, Atteline TECHNOLOGY TRENDS: WHY ARTIFICIAL INTELLIGENCE WON’T BE REPLACING PR SPECIALISTS ANYTIME SOON Automation. Illathu says AI and machine learning (ML) systems are already well integrated into the PR landscape COMMENT AJANUARY 2023 CEO MIDDLE EAST 9 COMMENT The human element. Artificial intelligence will face limitations when it comes to understanding people sionals bring to the organisations they work for is not a technical understanding of how to write a byline article or press release, but an ability to understand the needs of the businesses and clients they work with, and engage with them on a personal and emotional level. It’s new but not perfect The best PR professionals are not those with the largest quantities of data at their disposal but rather those who use their creativity most effectively with the resources available to them. Every once in a while, you might read about an instance in which artificial intelligence has produced creative work of note. But then you ask Siri to search to provide a list of restaurants that are not McDonald’s, Siri still spits out a list of local McDonald’s restaurants; she just doesn’t get the “no” part of “no.” The fact that the media highlights these rare feats tells us that AI performing at this level is still a long way down the road. It remains unclear whether artificial intelligence will ever be able to think creatively. For this reason alone, AI may never be better than humans at design- ing truly original campaigns or writing thoughtful press releases. Both require creativity to find a new angle on an exist- ing product or to understand what parts of a story will resonate with humans. We’ve heard a lot of hype about the impact of artificial intelligence, but we haven’t seen significant changes to our work lives. emails, a human professional writes the actual text. The tool helps the PR professional save time, become more efficient, and focus on tasks that require more creativity. At the end of the day Ultimately, the degree to which artificial intelligence supplants public relations professionals will depend on how ac- curate and cost-effective the technology becomes. Once artificial intelligence can replace the tasks currently undertaken by PR professionals, we can reevaluate the day-to-day role of a PR professional. But while we won’t see comput- ers taking over anytime soon, artificial intelligence will continue to be used to make the mundane parts of our lives less so. PR is about client communica- tions, loyalty, and building long-term trust and partnerships, something that AI or any new innovative technology can never provide. Instead of replacing us, AI will assist us in doing what we do best: connecting with other humans and using our creativity. Stop competing and start collaborating While it’s easy to think of artificial intel- ligence as something that will replace us in the future, we’re already working with it today and it is making our lives more efficient. AI and machine learning (ML) systems are, in fact, already well inte- grated into the PR landscape, whether in streamlining email send-outs or checking our press releases for mistakes. Instead of replacing human PR professionals, AI tools will be used more and more to help them do their jobs. An example is Automizy, an AI-based email marketing service that helps companies create, send, and track their email campaigns. Even though Automizy creates the content of these $96BN The contribution of AI to UAE’s economy in 2030, according to projections by PwC “A.I. WILL ASSIST US IN DOING WHAT WE DO BEST: CONNECTING WITH OTHER HUMANS AND USING OUR CREATIVITY”Next >