< Previous40 CEO MIDDLE EAST APRIL 2023 he global healthcare ecosystem demands a shift in the ap- proach to patient care. Studies have shown that when hospital patients do not receive timely and consistent personal care from nursing staff, their state of mind is negatively affected, increasing their recovery time. Under- standably, providing one-to-one care for patients around the clock in healthcare facilities where staff, especially nurses, are already overloaded is only feasible if we can find a way for technology to give back some of their time. The solution to the persistent problem of timely patient intervention is permitting data-driven video technology to take over some of the routine tasks and procedures that nurses are habitu- ally burdened with, thus allowing them more direct contact time with patients. Governments and healthcare entities in several countries across the globe are ramping up programmes to digitise the healthcare sector, especially taking advantage of the tremendous poten- tial of data-driven video technology in addressing healthcare facilities’ need to provide quality one-to-one care for patients. Below are three examples that illustrate how data-driven video tech- nology can help shape the future of the healthcare sector while benefiting both patients and healthcare staff: 1. Ticking off routine tasks through necessary alerts Data-driven video technology allows nurses to see all patients from a single location. Instead of routinely checking in on patients, when someone needs help, they can go directly to that patient. 2. Pre- and post-surgery assistance Hospital patients requiring surgery generally use elevators when going from their room to the surgery floor. As such, they and their accompanying hospital staff invariably experience delays on the way because of waiting time as the elevator travels to their floor. Technology can help solve the patient intervention gap, writes Thomas Jensen, CEO of Milestone Systems HOW DATA-DRIVEN VIDEO TECHNOLOGY CAN TRANSFORM THE FUTURE OF HEALTHCARE Industry veteran. Jensen has a deep understanding of the dynamics of business communities, technology partners and integrators HEALTHCARE T APRIL 2023 CEO MIDDLE EAST 41 HEALTHCARE Digital transformation. Governments and healthcare entities in several countries across the globe are ramping up programmes to digitise the healthcare sector With data-driven video technology, cameras can detect a surgical bed ap- proaching an elevator. The video system can autonomously and temporarily dis- able call button functionality on all other floors, sending the elevator directly to the floor where the patient is waiting and from there to the surgical floor. After surgery, when the patient is in the recovery room, nurses regularly open and close the door of a post-surgery patient to check on their medical status, especially at night, which can severely disrupt their sleep and prolong their re- covery period. In such a scenario, video technology can permit nurses to keep a vigilant eye on the patient from a single location, thus allowing optimum patient rest and aiding recovery. 3. Safeguarding patients and staff Data-driven video technology coupled with intelligent sound analysis can alert staff if a patient becomes verbally aggressive or physically violent in a hospital room. Similarly, the nursing staff can use the two-way audio com- munication feature on cameras to com- municate directly with a patient intent on self-harm, calming the patient while assuring that help is on the way. Patients’ privacy protection Data-driven video technology has the potential to benefit the healthcare in- dustry in various ways greatly, but it is important to ensure that the patient’s data and privacy are protected. To pre- vent misuse of patients’ video footage, many hospitals use live video feeds that blur patients’ faces and do not allow for recording. However, as video technol- ogy becomes more prevalent in health- care, legislation is needed to protect patient’s privacy and ensure ethical use. This requires cooperation between video technology stakeholders and policymakers to promote implementing innovative video technology in healthcare without compromising patient privacy. Clear guidelines must also be established strike a balance between legislation and innovation while also considering peo- ple’s right to feel safe and comfortable with the way technology is used. Apart from their quest to operate freely in the market, tech leaders, on the one hand, must also endorse mean- ingful regulations to govern the tech industry. On the other hand, policy- makers must work in tandem with tech leaders when enacting the legislation. The way forward Data-driven video technology abounds with many opportunities for the future healthcare industry. Yet, it is essential to balance the advantages that data-driven video technology delivers to healthcare with patients’ rights to privacy. Tech companies, the healthcare industry, and policymakers must col- laborate across the board on a suitable legislative mechanism that hastens innovation while equally safeguarding patients’ privacy rights. Data-driven video technology is poised to transform the future of healthcare for the better. For patients and staff to accept this, we must use this unique technology the right way—responsibly. “DATA-DRIVEN VIDEO TECHNOLOGY IS POISED TO TRANSFORM THE FUTURE OF HEALTHCARE FOR THE BETTER” for healthcare facilities to follow, as most hospital staff are not legal experts. On-par legislation and innovation With bureaucracy sometimes prone to crimping technical innovation and digital transformation, it is essential to $99.6BN The estimated healthcare spending in the GCC in 2023, according to a report from the Dubai Healthcare City Authority42 CEO MIDDLE EAST APRIL 2023 id you know that across the world, there are around 1 mil- lion Uber callouts every hour? Or that a simple chatbot tool amassed nearly 1 million users just five days after its launch? Impressive figures: The kind that every tech startup dreams about. But what is the secret of their success? How did these unicorns manage to become so popular to such an extent? As these incredible stats show, put simply, they fulfilled a need. They 1. Uber Ride-sharing is a simple concept, but it has completely transformed modern transportation across the globe. In 2009, inspired by a failed attempt to hail a cab in a Paris blizzard, Uber’s founders developed a mobile-based app that allowed customers to order a cab within minutes – from anywhere, at any time of the day or night. The immense success of Uber comes down to satisfying a specific need that was not being met by tradi- tional taxis and public transportation services: a safe, quick and truly on- demand transport service. Today Uber operates in over 70 countries and 10,000 cities across the world. In Q4 of 2022, Uber achieved a record-breaking 2 billion trips in a sin- gle quarter. That’s an average of nearly one million trips per hour! By focusing solely on the cus- tomer’s needs, Uber has turned the ride-sharing market into a multibil- lion-dollar industry. And it’s not just customers who are benefitting. Uber has become a main driver in the rise of the gig economy. Without owning a single car, Uber Technologies has enabled 5.4 mil- lion independent drivers and couriers worldwide to earn through its services. 2. Careem Uber’s influence and success has also extended to the Middle East. In Janu- ary 2020, Uber acquired the Dubai- based ride-hailing app Careem for $3.1bn, making it the biggest-ever tech transaction in the Middle East region. In its own words, Careem has sim- plified life for over 50 million customers and created opportunities for over 2.5 million drivers – known as ‘Captains’ – in 80 cities and 10 countries across the Middle East. The acquisition has allowed Careem to remain regionally independent while scaling up in the development of a host of essential daily services, from ride- Investigating four trailblazing companies that are upturning that we live and do business THE DISRUPTION OF LIFE AND WORK Modern world. Thomas says we are becoming increasingly keen for advances in technology that make our work and home lives easier TECHNOLOGY D BY NEHA THOMAS, HEAD OF MARKETING, CREATIVE ZONE saw a gap in the market and set about creating and developing a service to make our lives easier. In other words, they took a simple concept and made it indispensable. Certain technologies have become such intrinsic and essential parts of our everyday lives –once tried, we can’t im- agine living or working without them. Here, we look into the meteoric rise of four companies and how they have used technology to change how we work and play. APRIL 2023 CEO MIDDLE EAST 43 TECHNOLOGY Artificial intelligence. Currently, ChatGPT is the most powerful language processing tool ever created sharing and food deliveries to digital payments and corporate travel services – all under one easy-to-use ‘super app’. But it’s not just for convenience’s sake that Mobility technologies are soaring in popularity. The Uber-Careem partnership is helping to drive social change across the whole MENA region – for example, offering greater op- portunities for women to participate in the workforce, and contributing to the growth of digital adoption to simplify and improve lives across the region. 3. ChatGPT It’s barely a few months old, but the penetration rate of the language- processing model ChatGPT is nothing short of phenomenal. The human-like AI chat tool, re- leased in November 2022, amassed one million users in just five days. By January, this figure had soared to over 100 million users, making the chatbot the fastest- growing consumer application ever. To put it into context, it took TikTok nine months and Instagram more than two years to reach 100 million users. So, what’s all the fuss about? Why is there such an intense and unprecedent- ed demand for a simple language app? A first-of-its-kind, ChatGPT is the most powerful language processing tool ever created. What makes it unique is its ability to respond like a human. What’s more, it can convert ‘tech- speech’ into a simplified language that ordinary people understand. The app contains a vast amount of data and can understand context. This gives it the ability to perform tasks such as text generation and language translation, with a more natural output that humans can relate to. ChatGPT is a potential game- changer for businesses. For example, it could be used in: • Customer service – providing more accurate and relatable responses to customer queries would improve cus- tomer satisfaction and experience. • Healthcare – analysing medical spread of the coronavirus. The impact on people’s lives and livelihoods was unlike anything humanity had experi- enced before. But thanks to video conferenc- ing platforms such as Zoom, families, friends, students and businesses were able to remain connected through the toughest times in modern history. As the pandemic lockdowns ended and restrictions gradually eased, many organisations began to see the benefits of hybrid/remote working. At the end of 2020, Zoom conducted a survey, the results of which supported the continu- ing use of the video communications platform in the UAE post-Covid: • 83 percent of respondents agreed that video communications apps continued to be important for them post-Covid. • 71 percent supported the continu- ing use of Zoom in the future. • 66 percent agreed that the contin- ued use of video communications would help the economy and innovation. • 69 percent of Emirate respondents expected to work from home, either full-time or hybrid, going forward. Keep it simple So, what can these tech giants teach ambitious startups looking for a uni- corn opportunity? In all the above cases, companies started out by identifying a paint point – nothing complex, just a simple need: to get from a to b, whenever, wherever; to break down barriers in language comprehension; to connect with others without being physically present. The next step was to create a simple product or service that was fast, convenient, easy-to-use and, eventu- ally, indispensable. Not only do these products and services make life simpler – they have transformed how many of us now live and work. And as the in- credible market penetration stats show, we are becoming increasingly keen for advances in technology that make our work and home lives easier. records would enable doctors to give a more accurate and quicker diagnosis. • Law – an accurate analysis of legal documents could help streamline legal proceedings. • Digital marketing – to compile research, draft content and write computer code. ChatGPT has limitations – for example, it can only refer to the data it holds, and it can’t replace human creativity skills. But it can go a long way to augmenting workflow processes by automating repetitive tasks and providing engaging interactions with customers and workers. 4. Zoom What Uber has done for the gig economy, Zoom has done for remote working. Amid the Covid-19 pandemic, strict lockdown restrictions forced mil- lions across the globe to stay at home. Physical interaction ground to a halt in an unprecedented move to curb the 2 BILLION The number of trips Uber achieved in the last quarter of 202244 CEO MIDDLE EAST APRIL 2023 t’s like the blind leading the blind” – This is what we call a business strategy that’s built on assumptions and outdated research. Harsh as it sounds, strategies as such can’t be compared to a well calculated data-driven strategy that operates on a magnitude of insights and educated decisions. Data not only helps attract shoppers but it also keeps them. This is why at Adyen, we provide our merchants with a full dashboard that combines offline and online shopping data. It goes without saying, having the full visibility of real-time data is a powerful tool. 6,000 to 10,000 ads a day. This striking fact bares the question, how can a campaign or a messaging stand out from the crowd of continuous ads? Having your shoppers data gives the opportunity to personalise campaigns, ads, emails, etc. According to our 2022 Retail Report 70 percent of UAE consumers like it when retailers serve personalised advertisements. Personalisation does not end here, data can also factor efficiency into loyalty programs. Shoppers can gain points automatically when paying and gone are the days of asking for phone numbers at the counter. 2. It offers timely insights Understanding shoppers from research is helpful, but how long does it take till a research is considered outdated. Given the fast pace of shopping trends, shoppers’ behaviour changes and evolves. Data reveals the current trends and what’s changing right now. Adyen’s merchants have access to a dashboard showcasing the payment behaviour the moment it happens. They have real- time access to frequent purchases, sales channel performances, preferred payment methods, and more. 3. It allows for better decisions Where are the shoppers ordering from? Which region will attract the most shoppers? Data analysis can help your team make more mindful decisions and not only understand which region or area would be ideal for the next store opening, but also what trends and needs this location might propose. Data can help draw the big picture, it should not be looked at in silo’s in- stead shoppers data need to be unified. Data analysis is more practical when combined, as every business stumbles upon a large amount of valuable insights from in-store payment, online shopping and more, it’s vital for this data to be looked at from a unified dashboard. Real-time data is the key to success, writes Sander Maertens, Head of Middle East, Adyen IN THE NAME OF DATA Tech expert. Data not only helps attract shoppers but it also keeps them, Maertens says TECHNOLOGY 70% The percentage of UAE consumers who prefer personalised advertisements from retailers, according to 2022 Retail Report “I When we say data is a powerful tool, this is what we mean: 1. It keeps things personal Latest statistics show that the aver- age person gets bombarded by around AN ITP MEDIA GROUP EVENT May 2023 | Dubai, UAE Unpacking the biggest opportunities and challenges facing working women in the region COMMERCIAL ENQUIRIES Saraswati Agarwal Group Commercial Director Tel: +971 4 444 3352 GSM: +971 52 895 2214 E-mail: saraswati.agarwal@itp.com EVENT ENQUIRIES Anthony Chandran Marketing & Events Manager Tel: +971 4 444 3685 GSM: +971 58 971 5077 E-mail: anthony.chandran@itp.com Women in Business Conference 202346 CEO MIDDLE EAST APRIL 2023 n this dynamically evolving financial services ecosystem, success is underpinned by fool-proof strategy driven by customer innovation at the crux. Recent seismic shifts post the pandemic has led to vast adoption and penetration of digital services across the board, irrespective of the industry. Lifestyle brands, ecommerce web- sites, social media and OTT platforms have earmarked a behavioural shift in consumer expectations. The connectivity and engagement offered between these platforms have also set precedence for the banking industry. In a similar fashion, consumers are now keen to have to have their tools, information and services primarily available through banking to be able to engage with different companies. These blurred lines have transformed banking from a mere financial service offering to banking-as-a-service (Baas). Think of banking as a platform business that offers integrated experiences. To enable this, banks are focused on building APIs for deep connectivity, exchange of information and partnership with other platform businesses, fintechs and third parties on open networks. Interoperable ecosystems enable a golden source of valuable data and insights Today, technology adoption and digiti- sation has led to organisations sitting on mounts of consumer data and infor- mation. When services are integrated between various financial and non-fi- nancial players, it paves way for data ex- change through secure channels between all parties which can become a source of valuable consumer insights. These interoperable ecosystems break data silos, thereby enabling banks to provide better value proposition to customers in service delivery and quality. While con- sumers consent to data sharing between platforms on open networks, it requires strict data protection and privacy con- trols at our end to ensure their informa- tion is not misused. Success is underpinned by fool-proof strategy driven by customer innovation at the crux, writes Anuratna Chadha, Senior Executive Vice President and Group Chief Risk Offi cer, Mashreq DATA PRIVACY MECHANISMS IN AN INTEROPERABLE BANKING ECOSYSTEM Solid background. Chadha has more than 30 years of banking experience in risk management, wholesale and corporate banking across Singapore, Japan, India and South Africa TECHNOLOGY I APRIL 2023 CEO MIDDLE EAST 47 TECHNOLOGY Adhere to data governance and protection to retain consumer trust As an industry, banking is in the busi- ness of trust. Consumers trust banks and financial institutions with crucial information to keep their money secure which makes data governance, consent management and privacy a mission critical aspect. Various governments have also recognised the importance of data protection and introduced country or region wide policies to ensure com- panies, including banks collect, use and share personal information with due diligence. Recent research by UNCTAD highlights that close to 80 percent of countries have put in place legislation or have draft legislations to secure the protection of data and consumer pri- vacy. These measures by governments ensures companies adhere to controls and laws to protect public interest which reinforces consumer trust into the systems. In 2020, financial zones such as DIFC in the UAE had enforced their own version modelled basis the famous Euro- pean General Data Protection Regulation (GDPR). The Central Bank also legis- lated the Consumer Protection Regula- tion (CPR), which has been the guiding framework for all financial institutions in the UAE. The various layers of regulation ensure financial institutions operate with consumer interest as the central focus. Now, with a growing influx of digital services, the UAE government has intro- duced a federal law for data protection that circles around global best practices and enforces compliance and obliga- tion among all companies that process personal data of individuals. Such central regulations set data protection principles that prevents misuse of personal data, re- inforces trust and standardises processes. While the government has taken strict measures to protect data privacy, banks in the UAE can also follow a few guidelines and processes at their end in an increasingly interoperable environ- ment to plug any InfoSec and data pri- consumer, banks and third parties, the due diligence often presides with the bank. From authenticating customers, requesting consent and managing it, to authorising data sharing, banks must create robust processes for each stage, assess all risks at every level and do continuous checks at regular intervals. This is to ensure the framework is be- ing followed. Convincing consumers to share consent is a fairly easy task, but securely handling, storing, and modify- ing this data, while keeping hackers at bay is a critical task and should be non- negotiable between all parties involved. Another layer of due diligence can be carried out by vetting data storage capabilities and cybersecurity systems of the partners that banks onboard to ensure compatibility. 3. Follow protocols and strict measures internally The primary task for banks must be to introduce secure layers of cyber- security measures to make sure their systems can support an interoperable ecosystem. Realigning the IT frame- work, governance policies and intro- ducing additional security levels are a few ways this can be achieved. Track employee behaviour for any bad agents and have checks and balances in place for access controls. Instate two-factor authentication or verification to en- sure only allowed set of personnel can access information. We are operating in a world where customers will continue to demand integrated experiences from financial institutions but will not tolerate any compromise of their personal informa- tion in the process of sharing informa- tion between parties. And with the tech advances the industries have made, they shouldn’t have to either. Plat- form banking requires banks to raise their defensive guards on data privacy and governance. Complemented with central regulations, this will ensure an efficient and evolved mechanism of sharing consumer information. “WE ARE OPERATING IN A WORLD WHERE CUSTOMERS WILL CONTINUE TO DEMAND INTEGRATED EXPERIENCES” vacy loopholes. I’ve outlined three broad measures that banks can implement to give customers a secure and trusted ex- perience as social and financial activities start to merge. 1. Setting standards and boundaries with external partners Most banks have championed the open banking network by creating secure APIs for deep integration with intermediar- ies such as third-parties and fintechs for customer information sharing. However, different companies have different sets of APIs. To seamlessly share information, while maintaining privacy, banks must reinforce strict data access controls, set limits on what information how much of it and when other intermediaries can access it. Implementation of contractual clauses will help in ensuring third-parties are made accountable. It’s safe to assume that banks would face the brunt on their brand reputation, and be liable for data breaches, fraud or scam between these links. Keeping that in mind, banks need to ensure that the external partners com- ply with the standards and boundaries put in place. 2. Do the due diligence All the infamous breaches and scams should be a lesson on accountability and responsibly. In the cycle between ften considered a rebel in the world of watchmaking, the Richard Mille brand asserts its fi ercely innovative attitude with the RM 66 Flying Tourbillon, which proudly fl aunts the sign’s horns – the emblematic gesture of an entire generation – a veritable school of thought. The methodology employed to bring this iconography to life called for an extreme mastery of artistic expression. The devil’s horns of the RM 66 are dominated by a fl ying tourbillon at 12 o’clock on which is engraved with the seal of the skull, a tribute to the RM 052, fi rst watch to proclaim rebellion and the advent of non-conformity in Haute Horlogerie. 48CEO MIDDLE EAST APRIL 2023 Motor . The watch is engineered using a manual winding tourbillon movement with hours and minutes On stage, RM 66 reveals its entire rock universe. The hour markers, screwed to the upper fl ange, take the form of a guitar pick. Stretching like warheads, they plunge the look into the abyss of the Carbon TPT® and titanium case, revealing touches of gold through its openwork fl ange, echoing the gold inserts with a clou de Paris motif present on the caseband. The architecture of the RM66 manual winding calibre showcases a fast-winding barrel providing a 72-hour power reserve positioned at 6 o’clock and a tourbillon at 12 o’clock. To ensure the greatest possible transparency, the grade 5 titanium HORN TO BE WILD BY CEO MIDDLE EAST STAFF TIMEPIECES Available in a limited edition of 50 pieces, the new rock and roll-inspired Richard Mille RM 66 Flying Tourbillon ranks among the most extravagant creations of the brand O unive uppe Stret look Paris wind barre positThe Pelagos 39 is equipped with the TUDOR “T-fi t” clasp, which allows for rapid length adjustment. Easy to use, requiring no tools and offering fi ve positions, this system allows the wearer to carry out a fi ne, instant adjustment of the total length of the bracelet along an adjustment window of 8mm. This clasp also has a 25-mm bracelet extension function to allow the watch to be worn over a wetsuit. The hands of the Pelagos, particularly the hour hand with its characteristic square tip, allow the wearer to distinguish it from the minute hand, at a glance. Known in collectors’ circles as “Snowfl ake”, this feature is emblematic of TUDOR divers’ watches from 1969 onwards. The Pelagos models are powered by TUDOR Manufacture Calibres, providing high performance robustness, reliability and precision. Their power reserve of approximately 70 hours means that the owner can, for example, take off the watch on Friday evening and put it on again on Monday morning without having to wind it. In addition to the hour, minute and central second functions, some models provide an instantaneous jump date display visible through an aperture positioned at 3 o›clock. The TUDOR Pelagos and Pelagos LHD models are guaranteed to a depth of 500 metres and equipped with a helium escape valve, an essential device for preserving the watch during so-called “saturation” dives. The ceramic disc of the titanium unidirectional rotating bezel features luminous markers that allow for all information to be read even in extreme conditions of low visibility. APRIL 2023 CEO MIDDLE EAST 49 TIMEPIECES Tool watch. The Pelagos is equipped with a power reserve of approximately 70 hours Reliability . The Pelagos models are powered by TUDOR Manufacture Calibres, providing high performance and precision Precious metal . RM66’s Grade 5 titanium enables the gear train to function effortlessly movement, whose lines follow those of the hand, is highly skeletonised. This is possible thanks to a complex mechanical solution rarely employed by Richard Mille to enhance the skeletonisation, a fl ying tourbillon with variable inertia. The absence of an upper bridge creates the illusion that it is weightless. The horns gesture of the RM 66 is represented by outstretched index and little fi ngers, whilst the last phalange of the thumb holding the middle and ring fi ngers are visible from the back of the watch. Created by teams overseen by Olivier Vaucher, a renowned Genevan engraver, the openwork hand in 5N red gold is attached to the barrel bridge. Microblasted, polished and fi nished entirely by hand, each component is the result of extremely careful craftsmanship. Bringing the world of rock to life within the RM 66 called for quite a bit of technical ingenuity — 1,500 hours of research and development and nine months of work for the casing team. The extreme attention to detail is further revealed in the index points shaped like a guitar plectrum, extended by a lancet arch in titanium and the torque-limiting crown in the shape of a spider whose gothic-inspired segments embrace a synthetic ruby and its circular black rubber gasket. THE SPIRIT OF THE SEA Exceptional tool watches and the symbol of aquatic adventure, the models in the Pelagos line are amongst the most complete traditional mechanical divers› watches available today. The Pelagos stands out with its titanium bracelet featuring a steel folding clasp with a unique auto-adjustable spring mechanism developed and patented by TUDOR. This technical system allows the bracelet to be adjusted during the dive, contracting when the combination is compressed at greater depths, and expanding when the pressure decreases again during the diver’s return to the surface. A complimentary rubber strap is also provided, equipped with an extension system that makes it easily adjustable for all diving conditions. Information courtesy of the Federation of the Swiss Watch Industry $1.1 MILLION The price of the Richard Mille RM66 Flying TourbillonNext >