< Previous40 CEO MIDDLE EAST FEBRUARY 2023 t’s no surprise that crypto- currency trading is peaking in the UAE as the country positions itself as a crypto-friendly hub. Just like investing in real es- tate and the stock market, investing in cryptocurrency too is now being considered as an alternate revenue generator for many. Although there always has been an air of scepticism around crypto credibility and authenticity, people’s curiosity on crypto high-returns has compelled them to understand and learn what it is and how it works. But, As crypto trading reaches new heights, users need to be more aware of ever-present scams BEWARE OF GETTING ‘HOOKED, LINED AND SINKED’ INTO CRYPTO SCAMS Alternative asset. Investing in cryptocurrency is now being considered as an alternate revenue generator for many TECHNOLOGY BY EMAD HAFFAR, HEAD OF TECHNICAL EXPERTS META REGION AT KASPERSKY IFEBRUARY 2023 CEO MIDDLE EAST 41 TECHNOLOGY Sound advice. Any crypto offering that promises you will definitely make money is a red flag, says Haffar with good, comes bad. And, you can- not dismiss the security loopholes in cryptocurrency, or worst, it being used by scammers to trick people and com- mit financial fraud. Recently, stories of people falling victim to romance scams, which even- tually turn into financial fraud, have been all over the news. In the course of their interaction with the scammers, the victims were instructed to transfer large sums of money to dodgy crypto trading platforms in the promise of high profits. While it appeared that the victims were earning profits over their investments, in reality, they were being conned in millions. If this is unimaginable, scammers have also started to steal cryptocurren- cy from Twitter users. Scammers have been sending direct messages with login credentials for some cryptocurrency accounts to Twitter users, asking help to withdraw money from them. When such situations arise, there is only one question to be asked. Is there a way out? There are certain things people can pay attention to before or during investing in crypto. • Protect your wallet: To invest in cryptocurrency, you need a wallet with private keys. If a firm asks you to share your keys to participate in an invest- ment opportunity, it’s highly likely to be a scam. Keep your wallet keys private. • Only download apps from official platforms: Although fake apps can end up in the Google Play Store or Apple App Store, it is safer to download apps from these platforms than elsewhere. • Use reliable security tools: Using solutions like Kaspersky Premium can help spot suspicious links and block access to fraudulent sites and act as the first line of defence. Sadly, crypto scammers thrive on the fact that even vigilant people are human and sometimes fall for a well-crafted bait – especially when it has to do with money. With the crypto market making noise about being a lucrative avenue for invest- ment and the high-returns inves- tors can expect, people tend to not second-guess when someone offers help. This is where security solu- tions come in handy to highlight the dangerous red flags. $23,114 The value of 1 bitcoin as of 1 February 2023 • Only invest in things you understand: If it’s not clear to you how a particular cryptocurrency works, then it’s best to pause and do further research before you decide whether to invest. • Take your time: Scammers often use high-pressure tactics to get you to invest your money quickly – for example, by promising bonuses or dis- counts if you participate straightaway. Take your time and carry out your own research before investing any money. • Promises of guaranteed returns: No financial investment can guarantee fu- ture returns because investments can go down as well as up. Any crypto of- fering that promises you will definitely make money is a red flag.42 CEO MIDDLE EAST FEBRUARY 2023 he current dynamic economy is bringing forward new economic opportunities. New sectors, new channels of com- munication and a vast ecosystem of e-commerce and digital solutions are available. For almost every busi- ness, the digital economy represents a challenge to change: and that means adopting new technologies, retraining existing employees – and tapping into a new digital workforce. This is good news for the UAE’s digitally literate population, especially women. In the UAE, females represent 56 percent of graduates from science, technology, engineering and mathemat- ics (STEM) subjects – and 77 percent of all graduate studies. Yet when it comes to women in senior roles globally, studies have found that 60 percent of firms have no female board members, just over half have no female C-suite executives, and fewer than 5 percent had a female CEO. This is surprising, because according to many different reports and stud- ies, companies with higher numbers of women in leadership positions perform better. Indeed, research shows that companies with women in 30 percent of leadership roles witness a 15 percent increase in profitability. Now, with new opportunities to in- novate in digital solutions, women with STEM qualifications and those with experience outside of the industry, have an opportunity to re-orient their bear- ings: to re-think their careers and what matters to them the most in life. With the technology revolution brewing, newer job opportunities have opened up – especially in the revolutionary areas of artificial intelligence, robot- ics, automation, analytics, biometrics and more. For women equipped with digital skills – or even those without – this is the time to take advantage of career opportunities within the digital economy. There has never been a better time to step out of your comfort zone, learn something new and take a risk. I should know – as it’s a path I have embraced myself. My best career moves happened when I ventured into a sector in which I had no expertise and sometimes very little knowledge. I knew that IT was a male-dominated world – but I also knew that if I threw myself into it there was no reason why I couldn’t build an The current economy has opened up a world of opportunities in the digital space – and women can seize them to thrive more than before, believes Selma Turki, Partner, Digital and Emerging Technology, EY MENA NOW IS THE TIME FOR WOMEN TO LEAD THE DIGITAL REVOLUTION Empowerment. Women shound take advantage of career opportunities within the digital economy, Turki believes TECHNOLOGY T 56% The percentage of female graduates from science, technology, engineering and mathematics (STEM) subjects in the UAEFEBRUARY 2023 CEO MIDDLE EAST 43 TECHNOLOGY In demand skills. With the technology revolution brewing, newer job opportunities have opened up for women incredible career. I know from experi- ence that for those women who want to enter the digital economy, there are many rewarding moments where being a woman does make a difference, espe- cially in areas that require particular skills and competencies. Helping companies to reinvent As companies seek to reinvent or reorient themselves towards the digital landscape, the competencies women bring are of fundamental value; in finding new ways to serve customers, or creating new ways of getting the best out of employees with digital remote working technologies. For women who want to take ad- vantage of the digital revolution, build new skills, or enter a new line of work, these are some key areas where there is significant potential for skills develop- ment and personal growth: • Design thinking: This field allows organisations to review and reinvent their current ways of working in light of the new business models they are looking to build. They usually neces- sitate a combination of skills such as graphical design, user interface design and development, user journey maps and roadmaps, storyboarding and even a touch of psychology or social studies. • Process optimisation and assess- ment: Whether front, middle or back office, organisations are transforming how they operate in the digital age. For women in specific domains such as supply chain, manufacturing, research and development, HR, finance, legal or hospitality, there are vast opportunities to leverage your skills to drive organ- isation-wide initiatives. These kinds of jobs offer a unique opportunity for client intimacy and process reconcilia- tion with a sense of orchestration, while leveraging methods such as Lean or Six Sigma, a key certification to have in one’s resume. • Development: The next logical step post-process optimisation is usually Recognise your value Not only are these technologies incred- ibly exciting but they’re in demand. The adoption of digital solutions are highly strategic to most organisations – so much so that many digitalisation initia- tives are usually spearheaded from a separate entity that handles both digital and innovation strategies: the driv- ing engine for all areas and initiatives. This amounts to a digital strategy that creates among others, a fully automated customer experience that customers do enjoy, all whilst remaining profitable. For women, the good news is that the dynamics of a digitalisation strategy play to many of the natural strengths that women possess – it is about taking a holistic approach to moving a company from where it is today to where it needs to be tomorrow. It’s about creating a road- map to realise that journey – one that achieves unanimous buy-in and helps everybody reach the final destination. So, if you’re a woman looking to enhance your skill, look out for any digital and innovation initiatives in your organisation. automation, where intelligent automa- tion and AI solutions come into play. They both need to be approached with two separate sets of skills; one is related to a business analyst role and the sec- ond set is related to the actual technical solution implementation, which entails actual technology mastery. Whichever you consider, business analyst skills in- clude a strong knowledge of the actual business process that is being looked at to evaluate the potential for automa- tion – which does not necessarily need deep technological knowledge. “THE DYNAMICS OF A DIGITALISATION STRATEGY PLAY TO MANY OF THE STRENGTHS THAT WOMEN POSSESS”44 CEO MIDDLE EAST FEBRUARY 2023 f 2020 was a year of un- precedented changes and 2021 a year of recovery and resilience, then 2022 proved to be everyone’s favourite child. This was especially true for the Middle East, Turkey, and Africa region as we broke new grounds to foster dialogues on climate change, advanced our space exploration capabilities, and captured the pulse of the world at one of the most watched global sporting events. Emerging technologies under- scored these monumental accomplish- ments, giving wings to human aspira- tions and bringing in renewed focus and vigour to economies, businesses and day-to-day lives. The year 2023 promises to be equally remarkable. Here are the top five techonology shifts that I believe will shape our economies and drive us as a region to advance our economic, scientific and creative contributions on the global arena. Business will demand cloud without compromise to scale-up According to a Dell commissioned Forrester Consulting study, 83 percent of companies will have implemented multicloud by 2023, with three in four firms needing flexibility in their cloud infrastructure mix today. Cloud will become critical to an organisation’s survival this year, and business leaders will piece together an ecosystem of different services to meet their unique needs. Foresighted leaders will also closely evaluate new cloud options for cost efficiencies, distribute IT capa- bilities across various cloud providers and develop a cloud strategy to main- tain data security, good governance, and stakeholder value. Cyber recovery will become an organisation’s lifeblood and define every move The more agile a business becomes, the more it needs to prioritise cyber recovery. Organisations will estab- Emerging technologies give wings to human aspirations and bring renewed focus and vigour to economies, writes Mohammed Amin, Senior Vice President, Middle East, Turkey, and Africa (META) at Dell Technologies TOP TECHNOLOGIES THAT WILL SHAPE HUMAN AMBITIONS IN 2023 Meeting the challenge. Amin says cloud will become critical to an organisation’s survival this year LEADERSHIP IFEBRUARY 2023 CEO MIDDLE EAST 45 LEADERSHIP The power of tech. Leaders are increasingly looking at ways to harness the value of data and are turning to AI to keep pace with changing trends lish authoritative identity manage- ment, policy management and threat management framework for consistent identity, policy and recovery of an enterprise. We will continue to see an increase in industries requiring zero-trust frameworks. It will become the globally accepted best practice for cybersecurity architecture. Security in the multicloud, more than any other aspect, will be required to be consist- ent and accessible. Silos will be the enemy of real zero-trust security. Quantum computing will be the new frontier of digital transformation For decades, quantum computing has only been accessible to the world’s largest research institutions and government agencies. But in 2023 quantum computing is getting real and businesses need to identify and devote the team, tools, and tasks and start experimenting or risk missing this technology wave. As the new frontier of digital trans- formation, businesses will begin to pilot the use of quantum and harness its advanced computing capabilities to speed up innovation. Healthcare and finance are two sectors where the im- AI will become the engine of innovation in every organisation The journey to intelligent, automated and efficent business outcomes starts with AI. AI will reach an important turning point next year as it is adopted across every organisation – irrespec- tive of size. Leaders are increasingly looking at ways in which to harness the value of data and are turning to AI to keep pace with changing trends and to remain one step ahead of competi- tors. AI will become the main engine of innovation in 2023, and the human– machine partnership’s impact will reverberate around the world. For regional businesses, the new year is full of promises. With digital transformation accelerating at pace, emerging technologies will drive the future development of digital econo- mies across our region. From smart cities built around sustainable energy consumption, to seamless engagement between community and government, the digital economies of tomorrow will rely on a digital core. So come with me on this journey and witness how technology will only continue to speed up innovation and catapult us into the digital future – and we all must be ready to adapt. pact of quantum will begin to be felt. Investing in quantum simulation and enabling data science and AI teams to learn quantum’s new languages and capabilities is critical in 2023. Edge will usher in a new era of business breakthroughs In today’s data-driven world, trans- porting large quantities of data from its source to a centralised data centre or cloud is not only costly but also inefficient. When computing resources are moved closer to the point where data is generated and consumed, a business can achieve real value. Edge computing’s astronomical growth will continue in 2023. It will rapidly be- come a key differentiator and usher in a new era of business transformation. Edge will enable new use cases and capabilities across many industries, verticals and markets. $591.8BN The worldwide end-user spending on public cloud services in 2023, according to Gartner “A.I. WILL BECOME THE MAIN ENGINE OF INNOVATION IN 2023, AND THE HUMAN–MACHINE PARTNERSHIP’S IMPACT WILL REVERBERATE AROUND THE WORLD”46 CEO MIDDLE EAST FEBRUARY 2023 s more businesses around the globe move their infrastruc- ture and services to the cloud, many are implementing multi- cloud strategies, which use a variety of cloud computing and storage services in a single heterogeneous architecture. While there are numerous advantages to distributing cloud assets, software, and applications across multiple cloud-hosting environments, such as agility, flexibility, competitive pricing, scalability, and dependability, there are also several challenges that must be addressed. One of these challenges is that businesses frequently struggle to secure a variety of different clouds due to a lack of visibility across hosts and services, making it easier for bad actors to discover vulnerabilities that can be exploited within corporate infrastructure. Because the cloud lacks defined perimeters, securing it is a fundamentally different prospect than securing an on-premises environment. As a result, a common misconcep- tion is that an on-premises environ- ment is more secure than the cloud; however, cloud security is no more or less effective than on-premises security. In the Middle East, IT spending for cloud computing is increasing at an exponential rate, with expecta- tions that the cloud market will reach $9.8bn by 2027, growing at a CAGR of 21 percent. Increasing penetra- tion of cloud services among SMEs is a key driver for the region’s public cloud market growth, as is increasing demand for artificial intelligence (AI) and machine learning services and solutions that enable businesses to monitor, analyse, and visualise large volumes of unprocessed data. With this growing use of cloud computing among businesses across the region, there is a need to begin changing users’ perceptions of cloud security, and the discussion should instead focus on the pros and cons of each, rather than good versus bad. Businesses commonly ask question: “Who is ultimately responsible for security in the cloud?” The answer is very simple: Everyone. CLOUD SECURITY IS A PRIORITY AS IT IS A SHARED RESPONSIBILITY Tech maestro. Businesses must have the appropriate technology to detect intruders, Richmany says TECHNOLOGY BY FADY RICHMANY, COMMVAULT’S REGIONAL VICE PRESIDENT – SOUTH EASTERN EUROPE, MIDDLE EAST AND AFRICA AFEBRUARY 2023 CEO MIDDLE EAST 47 TECHNOLOGY Data. Finding the best solutions for your company and controlling user access are what environment security is all about Vital asset. Cloud infrastructure remains the most important component to safeguard These kind of discussions should boil down to what make the most sense for customers in terms of meeting their security needs. In this regard, the com- mon asked question is who is ultimately responsible for security in the cloud. The answer to such a question is very simple, it is a shared responsibility. With many businesses across the Middle East continuing to invest heavily in digital transformation, cloud infrastructure remains the most important component to safeguard, especially with the increase of cyber security threats. Recent reports show that the Middle East and Africa were the fourth most attacked region worldwide, while the most-attacked countries in the Middle East were the UAE and Saudi Arabia. The cloud-platform providers are responsible for network security and platform fortifying, but they are not responsible for data security. This remains the user’s or applica- tion owner’s responsibility, as they must ensure that the relevant security protocols are in place and that they are following a zero-trust process to secure their data. While cloud service providers will do everything possible to keep bad actors out of the scope, it is the client’s responsibility to protect their data. Due to the nature of the cloud environment, businesses must control the access of a large number of users on their platform, which begins with implementing a zero-trust policy and applying the principle of least privi- lege across all access points. As a result, businesses must typi- cally examine their access control strategies and how permission levels are associated. They should then go through pro- cesses like managing access control, implementing rule-based access con- trols, or even role-based access control to find the right mix that gives them the level of security they need. There are numerous storage and business alternatives available to firms who want to ensure the security and privacy of crucial enterprise data in the cloud without interfering with business operations. It comes down to selecting systems that can control access, keep an eye on activities, and promptly address problems in order to protect a company’s reputation. A typical practice used by business- es to guarantee their security and the protection of customer data consists of a number of phases. Data discovery comes first, then data loss prevention tools and firewalls are put in place. The deployment of storage systems with integrated data protection solutions is another option for some cloud users, who then select the best backup vendor for their environment. Finding the best solutions for your company and controlling user access are what environment security is all about, not debating whether cloud computing or on-premises security is better. Businesses must have the ap- propriate technology to detect intrud- ers while also making sure that staff, who are frequently the biggest threat to an organisation, have the necessary knowledge and training to adhere to security rules. $178.1BN IT spending in the MENA region in 2023, according to a report from Gartner “BUSINESSES MUST EXAMINE THEIR ACCESS CONTROL STRATEGIES AND HOW PERMISSION LEVELS ARE ASSOCIATED”ince its acquisition by the family-owned MELB Holding Group, H. Moser & Cie has been rebuilt, transformed and revolutionised to reach its full potential. Under the guidance of its new directors, it proudly plays a leadership role within the independent watchmaking industry. When MELB Holding took over H. Moser & Cie in 2012, the brand was in a perilous state. Yet, despite being in the red with little brand awareness among the general public, the company had a certain aura and a potential that were immediately obvious to the Meylan family. With a full-fl edged Manufacture at its disposal, it even mastered the production of regulating organs and balance-springs through its sister company, Precision Engineering AG. It also boasted a rich and fascinating history spanning almost 48CEO MIDDLE EAST FEBRUARY 2023 Movement . The H. Moser & Cie Streamliner Tourbillon Rainbow is powered by in-house Calibre HMC-804 S by respecting the past but incorporating a contemporary and occasionally irreverent edge.” That was the result which Edouard, as CEO of H. Moser & Cie, set out to achieve, supported by his brother, Bertrand, as CEO of MELB Luxe Subsidiaries, and a loyal team. There were numerous challenges to overcome, but the list of accomplishments and successes is astounding. Over ten years, the brand has built a global reputation, played a pioneering role in embracing the digital era, reached new audiences and connected with an engaged community. Sixteen Manufacture calibres have been developed, and fi ve new collections introduced, including one-offs such as the Swiss Alp Watch and the Venturer, as well as permanent ones for the Heritage, Pioneer and Streamliner lines, which complement the core Endeavour collection. two centuries, as well as its own unique products. With a keen appreciation of the fi nest watchmaking traditions, the Meylan family opted to use the brand’s existing strengths as a basis for its development: “The idea was to draw on what had already been done well – and there were lots of good things – and to further improve this by adding a bit of our own personality, (i.e.) H. MOSER & CIE LOOKS BACK OVER THE PAST TEN YEARS BY CEO MIDDLE EAST STAFF TIMEPIECES Despite its many strengths, the Schaffhausen-based company was on the verge of bankruptcy ten years agoFEBRUARY 2023CEOMIDDLE EAST49 TIMEPIECES Partnership. Breitling has been the official onboard timekeeper at Swiss since 2016 Pilot’s watch. The Breitling Navitimer B01 SWISS Limited Edition is exclusively available in 700 pieces The Swiss logo is engraved on the reverse of the watch, along with “One of 700” to indicate the limited-edition series. The open caseback, exposing the COSC-certifi ed Manufacture Caliber 01, features a design based on the turbine engine of a Boeing 777-300ER. The watch movement developed and manufactured by Breitling comes with a fi ve-year guarantee. It has an impressive power reserve of more than 70 hours. Various models of this iconic Breitling watch have been released since it was originally launched 70 years ago – but the new Navitimer offers a winning combination of traditional characteristics and cutting- edge improvements further refi ning the design. A levelled slide rule and domed glass give the impression of a slimmer profi le, while the interplay between polished and brushed metal components provides just the right amount of subtle shimmer. Breitling has been the offi cial onboard timekeeper at Swiss since 2016. The Swiss roots and long tradition the two brands share are the foundation of this successful alliance between two partners united by a passion for aviation as well as an unwavering commitment to quality and precision. As of this year, Breitling has also been supporting Swiss’ efforts towards CO2- neutrality in aviation. The purchase of sustainable aviation fuel for all Swiss- operated fl ights for Breitling employees cuts emissions substantially and underlines their shared commitment to sustainability. A multi-phase process This extraordinary project has been undertaken in multiple phases, requiring the involvement of all the H. Moser teams, from engineers to watchmakers and CNC technicians, as well as all other collaborators at the Manufacture and around the world. The fi rst phase – inevitably – was the restructuring. This was a necessary step to ensure the brand could start out on the best footing to tackle the re-engineering step, by optimising processes to improve effi ciency. As soon as it was fi nancially feasible, the Manufacture was completely redesigned, with an emphasis on modernisation through the purchase of new machines dedicated to milling, but also for very specifi c tasks related to the manufacture of hairsprings, such as coiling and rolling. At the same time, in-depth work was carried out to reposition the brand’s image, with the adoption of an engaged communication strategy featuring a fresh, bold and transparent approach symbolised by enticing products. Introduced in 2015, the Endeavour Perpetual Calendar Funky Blue was the fi rst example of renewal at H. Moser & Cie: equipped with the brand’s ingenious and award-winning perpetual calendar movement, as well as the added dynamism of an electric blue gradient dial never before seen on an Haute Horlogerie model, and a rugged, raw leather strap. In 2020, and in the midst of the pandemic, H. Moser & Cie released its new Streamliner collection, featuring an integrated metal bracelet with a singular, fl uid design. It was a huge success, enabling the Manufacture to attain a level of stability that the brand still enjoys today. A bright future In 2022, H. Moser & Cie embodies exceptional watchmaking, built on traditional roots and offering timeless elegance with an artfully provocative edge. The brand enjoys an independence that offer it great freedom to act and respond. With four complementary collections, each one beautifully balanced and exhibiting its own personality, it was one of the fi rst brands to embark on the digital journey, launching an ecommerce platform perfectly in sync with the times. BREITLING NAVITIMER B01 SWISS LIMITED EDITION Ever since the fi rst Navitimer was unveiled in 1952, Breitling’s original pilot’s watch has been loved by aviators and trend- setters alike. To mark this icon’s 70th birthday, Breitling and Swiss International Air Lines (Swiss) have come together to launch the Navitimer B01 Swiss Limited Edition. The collection is a 700-piece limited edition exclusively available on board selected Swiss long-haul fl ights. The Navitimer B01 Swiss Limited Edition retains the characteristic design of its iconic predecessor – and puts its own unique spin on it. Its simple anthracite dial with black chronograph counters serves as the perfect foil for the red accents, evoking Swiss’ typical scarlet hue, while a plane decorates the central seconds hand. Information courtesy of the Federation of the Swiss Watch IndustryNext >