< Previous20 CEO MIDDLE EAST MAY 2024 COVER STORY SHERIF BESHARA How does digitisation lead to enhanced patient experience? Digitisation reduces costs, optimises physician performance, improves in- ventory management, and ensures the best talent is hired and retained. Healthcare quality and patient safety are top priorities. What systems and processes have you implemented to ensure high standards of clinical governance and excellence? A healthcare provider’s performance excellence is not born; it must be created. AHD devised and imple- mented its own service excellence programme. It comprises five values every member of the AHD team abides by at all times to deliver the highest level of care to patients, customers and stakeholders: Humil- ity; empathy, advisory, reliability, and teamwork. Our Service Excellence Pro- gramme further enhances our service quality to patients and visitors and our international and regulatory standards of care. We follow critical principles of excellence to ensure benchmark patient care. These are: Hiring best-in-class medical professionals; harnessing technology (AI, big data, robotics and research) to actualise superior treatment outcomes. Evidence-based care and innovation; Collaboration with the world’s leading healthcare provid- ers and innovators; Digitisation for streamlined workflows and effi- ciency; and continuous employee training, upskilling and mentoring. We also follow mandatory prac- tices that ensure our performance is consistently at the forefront. American Hospital Dubai is known for its Centres of Excellence in various specialities. What are your key focus areas and strategies to advance specialised clinical services? To ensure our Centres of Excellence deliver on their purpose, we combine the following: Concept: To offer the most ad- vanced and precise personalised treat- ments for diseases. We look at every patient’s disease history 360 degrees and chart the course between the dis- ease and the solution to see what areas it covers for each patient. Expertise: We combine advanced domain knowledge and evidence- based treatment expertise every time for a tailored outcome. Each patient is different, though the disease field may be the same. Implementation: We ensure all resources, the best human expertise, the latest technology and knowledge, scientific breakthroughs and state-of- the-art infrastructure. Alignment: Our Centres of Ex- cellence work with a multidisciplinary synergy to ensure each patient re- ceives comprehensive treatment based on their unique medical history. Resources: Ensuring Centres of Excellence deliver on their promise calls for resource availability. We invest in innovation and expertise to keep our Centres the leading hubs of new treatment solutions. Leadership and results: We are committed to leadership for advancement. These strategies ensure our Cen- tres of Excellence deliver the desired treatment outcomes and lead medical excellence. Collaboration and partnerships are important in healthcare. What value do partnerships with organisations American Hospital Dubai follows a programme of continuous employee training, upskilling and mentoring “OUR PARTNERSHIP IS DRIVEN BY EXPANSION FOR EXCELLENCE, TOGETHERNESS FOR INNOVATION, SYNERGY FOR SOLUTIONS, AND KNOWLEDGE SHARING”MAY 2024 CEO MIDDLE EAST 21 SHERIF BESHARA COVER STORY American Hospital Dubai is the only hospital in the Middle East to win the Excellence in Robotics Surgery award such as the Mayo Clinic bring, and what new partnerships are you pursuing? AHD’s core purpose is delivering the best patient-focused care. We partner with healthcare entities with a shared ideology to open new horizons in patient-centric care. We were the first hospital in the Middle East to become a Mayo Clinic Network Member (MCNM) and the second hospital globally to be awarded the prestigious JCI accreditation. Our partnership is driven by expansion for excellence, togetherness for innovation, synergy for solutions, and knowledge sharing. Our alliance with Mayo Clinic, a global healthcare benchmark, creates value-added extra dimensions in consultative expertise, disease management, second opinions of complex cases, and reference data, and benefits from Mayo’s clinical, operational and business models. Our new partnerships include Baylor College of Medicine, Hou- ston, Texas: AHD signed a MoU with the prestigious Baylor College of Medicine to establish a medical college in Dubai. It will be a mile- stone project in the region’s health- care landscape. Fakeeh University Hospital Dubai: We have has signed a strategic agreement with Fakeeh University Hospital to boost medical tour- ism from our offices in Nigeria to Fakeeh University. This partnership will boost medical cooperation, raise medical care standards, and promote training and research skills to enhance the healthcare landscape across the MEA region. How do you measure the impact and outcomes of your research programmes and initiatives? What are your priorities in building healthcare research capacity in the region? We implement the data findings to create positive outcomes. Our Cerner-collaborated AI research centre helped us devise a Covid-19 model on patient mortality and ICU admission prediction. Data harvesting: AI-led algo- rithms analysed more than 5,000 at- tributes, top 50 risk identifiers globally and a 100,000 combination of identifi- ers for AHD to predict patients at high risk for ICU admissions and mortality. Implementation: We provided timely and appropriate care based on the data. Outcome: Reduced numbers of 22 CEO MIDDLE EAST MAY 2024 COVER STORY SHERIF BESHARA ICU admissions and mortalities. Initiative: We partnered with Oracle Cloud Applications and Cerner Corporation to help enhance our digital transformation. Implementation: Integrating the hospital’s business and clinical opera- tions to improve patient care processes and systems. Outcome: Real-time data showing reduced costs through streamlined workflow, higher productivity and performance, and trackable employee satisfaction. What role do training and skills development play in your overall strategy? How is the American Hospital Academic Institute (AHAI) contributing to the healthcare talent pipeline? AHD is more than a healthcare provid- er; it is a transformer. Our mission is to educate healthcare professionals in the region to be innovators and accelera- tors so, we invest in training, upskill- ing and expanding talent boundaries in medicine and we proud to play a significant role in developing the next generation of healthcare leaders. American Hospital Academic Institute is affiliated with UAE’s leading medical schools such as the University of Sharjah, Mohammed Bin Rashid Uni- versity of Medicine and Health Sciences (MBRU) and the Gulf Medical Univer- sity (GMU). AHAI has also established a research committee with the Uni- versity of Sharjah’s American Hospital Education Joint Committee for medical research in the region and beyond. AHAI’s responsibilities Include developing medical students; training international medical students; devel- oping healthcare alliance specialities including pharmacy, radiology and medical imaging, clinical nutrition and laboratories; promoting research in medicine and healthcare; and provid- ing opportunities for healthcare prac- titioners in the region with different professional backgrounds for contin- ued medical education. American Hospital Dubai invests in innovation and expertise to keep its centres as leading hubs of new treatment solutions $22.8bn The projected value of the surgical robots market by 2030MAY 2024 CEO MIDDLE EAST 23 SHERIF BESHARA COVER STORY American Hospital Dubai follows the Critical Principles of Excellence to ensure benchmark patient care We are also working on collabo- rating with DHA and the National Institute of Healthcare Science for advanced post-graduate training and international internship programmes and promoting an Arab Board of Medical and Surgical Specialties. Sustainability and environmental stewardship are growing priorities. What policies/programmes does American Hospital Dubai have to promote ESG best practices? At AHD, we believe green healthcare is integral to our vision and mission. We formally launched the Ameri- can Hospital Sustainable Policy in 2023. It enshrines sustainable prac- tices at the heart of our performance, mandating measurability and account- ability to enable AHD to become the region’s leading green healthcare model. Our sustainability practices include energy savings, greening the environment, reducing fuel emissions through transport options, improving our medical waste management, e- recycling, using eco-friendly building materials through retrofitting, using green cleaning solutions for our hos- pital and clinics, improving indoor air quality and implement farm-to-plate food practices in our hospital kitchen. We planted an equivalent of 1 acre of forest cover by greening American Hospital Dubai’s premises and grew 261,359 trees from seedlings over 10 years. We save 2,176 gallons of water daily and 21,900 litres annually with touchless faucets and dual-flush WCs. WE have reduced our Energy Use Intensity (EUI) from 47.00 in 2020 to 34.00 in 2022, achieving 20,384,129 kWh (kilowatt-hours) savings. What are your views on future healthcare trends, and how is American Hospital Dubai preparing for these changes? We believe the healthcare architecture of the future rests on these four pillars: Predictive medicine; personalised medicine; participatory medicine; and preventive medicine. These means that we must predict the health possibilities of an individual, create personalised treatments for them, encourage patient participation and help them prevent diseases through adaptive lifestyles and education. Everything else – Technology, gadg- ets, AI, medicine, genomics, research, in- novation, big data, robotics, and analytics – must fit within these borders. What is grabbing your attention for the future of healthcare? We believe the future of healthcare will be on the personalisation of medicine based on AI and data analytics. Developing and using healthcare technology in a cultural context: This will be increasingly critical because, as we have seen, disease, treatment and cultural dimensions are inextricable in creating positive care outcomes. We also see a sharper focus on mental health and wellbeing, greater collaboration between global health- care organisations in achieving chronic and complex disease break- throughs. And finally, I would like to add that sustainable healthcare is the future, and it is here. How Is American Hospital Dubai preparing for the future? We will remain committed to our intentionally designed patient experi- ence and build our entire care eco- system around it. We are a leader in complex diseases, robotic surgeries, AI-led healthcare solutions, the medi- cal tourism destination of choice, and forging global partnerships with lead- ing medical pioneers to bring the best healthcare solutions to the region. We will continue to expand our medical technologies, partner with the best medical pioneers globally, advance our education objectives for the greater good, keep pace with innovations and AI, and meet our sustainability KPIs. At AHD, we believe healthcare is an ideol- ogy that aims to achieve the ultimate benefit of humanity – good health. TECHNOLOGY 24 CEO MIDDLE EAST MAY 2024 or entrepreneurs looking to expand their businesses, finding the right funding is a top priority. In January, startups in the MENA region successfully raised $86.5m, signaling a rebound in fund- ing activities after a relatively quiet year. As the landscape becomes more promising and various funding options Why should entrepreneurs seek funding? The biggest hurdle startup founders face is securing funding. In fact, the number one reason startups fail, mak- ing up 38 percent of cases, is simply running out of cash. This challenge overshadows other typical reasons for startup failures, like not having enough market demand or having a flawed business model, placing it at the forefront of obstacles for startups to navigate. Beyond its critical role in ensuring a startup’s survival, securing funding can also provide a competitive edge. Incubators and venture capital firms often equip the startups they back with How entrepreneurs can identify the right funding match KNOW THYSELF Choosing the right investor goes beyond financial considerations and hinges on the founders’ deep understanding of themselves and their path forward BY JANE KHEDAIR, EXECUTIVE DIRECTOR OF LONDON BUSINESS SCHOOL’S INSTITUTE OF ENTREPRENEURSHIP AND PRIVATE CAPITAL (IEPC) F STARTUP emerge, now is a good time for startup founders to assess which funding strategies best align with their goals. Understanding how to achieve the optimal fit with investors and strike the right balance between financial needs, values, and future visions is crucial for any entrepreneurs seeking the long- term growth of their ventures.MAY 2024 CEO MIDDLE EAST 25 STARTUP mentorship and access to an exclusive network of talent, experts, and part- ners. This support accelerates startups’ growth, enabling them to achieve a synergistic “1+1>2” effect and foster a competitive advantage over their unfunded counterparts. Additionally, obtaining fund- ing can also significantly enhance a startup’s credibility and market visibility. Investors often perform rigorous due diligence before com- mitting their resources, so securing financing is a signal to the market of a startup’s potential and viability. This validation can attract more customers, partnerships, and even future invest- ment rounds, creating a virtuous cycle of growth and opportunity. How can entrepreneurs identify the right type of funding? PayPal and Palantir’s co-founder Peter Thiel famously said: “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” This advice rings particularly true for entrepreneurs, especially those whose products have caught the attention of multiple investors. When it comes to choosing the right funding option, the task is intricate. It goes beyond just comparing financial terms to see which deal looks best on paper. Founders must consider how each investor’s pro- posal aligns with their values and the future they envision for their company. Such a choice demands clear thinking and a deep understanding of oneself. Let’s consider two hypothetical businesses. Imagine Reem, who found- ed HealthBridge, a startup developing a groundbreaking health monitoring device designed to improve elderly care. Reem’s primary concern isn’t just rapid expansion but ensuring that her product genuinely enhances the lives of its users, which requires research and development time and a deep under- standing of her customers’ needs. For Reem, the ideal investor is not and pushing for rapid growth, even if it means a higher equity giveaway and more stringent milestones. The trade- off here is the potential loss of some degree of control and a high-pressure environment aimed at fast returns. Still, it aligns with ByteSpeed’s need for swift market penetration and scaling. So, what does this tell us? In both scenarios, we see the critical importance of founder-investor fit. The nature of funding and partnership is shaped by how the founder approaches their business, which is influenced by their values, goals, and visions for the company’s future. Therefore, choosing the right investor goes beyond financial considerations and hinges on the found- ers’ deep understanding of themselves and their path forward. Of course, securing funding isn’t always a matter of choice for everyone. For many entrepreneurs, last year’s global venture funding draught has significantly tested their resilience. However, for those who have sur- vived, especially those who have dem- onstrated the value of their offerings to investors, the new challenge in the upcoming period will shift from mere survival to making intelligent choices. To navigate this, entrepreneurs must ponder several key questions: Where do you envision your company in 1, 5, and 10 years? Which values do you hold dear as your business grows? What role do you see yourself playing in its future? And what tradeoffs are you willing to accept? There are no universally cor- rect answers to these questions, but discovering the right ones for yourself is essential. Striking the right balance between financial needs, values, and future visions is a crucial rite of passage for entrepre- neurs. Only with clarity and conviction in their choices can they truly unlock the potential of their ventures and steer them towards lasting success. “FOUNDERS MUST CONSIDER HOW EACH INVESTOR’S PROPOSAL ALIGNS WITH THEIR VALUES AND THE FUTURE THEY ENVISION FOR THEIR COMPANY” Striking the right balance between financial needs, values, and future visions is a crucial rite of passage for entrepreneurs, according to Khedair merely one offering the highest valu- ation or the most favourable financial terms but one with a track record in medtech investment, patient capital, and a strong network within the medi- cal research community. The trade-off for her is potentially slower market en- try and growth. But in exchange, she would gain a partner who understands the complexity of healthcare innova- tion and is committed to the startup’s long-term vision. Contrast this with Faisal, who runs ByteSpeed, a software company leveraging AI to optimise e-commerce logistics. Faisal is in a fast-moving, highly competitive space where speed to market and rapid scaling are critical to capturing market share. For Faisal, the ideal investor is an aggressive tech- focused VC firm known for quick wins TECHNOLOGY 26 CEO MIDDLE EAST MAY 2024 n the era of digital trans- formation, professional landscapes have been fun- damentally reshaped, revolutionising not just how we work, but the very essence of what we do. According to Higher education is the primary channel for preparing students to thrive professionally and participate in the global economy. Yet, much of the world education prepared previ- ous generations for is slipping into a new normal where technology and humankind merge. Automation, artifi- cial intelligence, and robotics are likely coworkers in the workplace. WEF and PwC’s ‘Upskilling for Shared Prosperity’ report suggests that investing in reskilling and upskilling the current global workforce could boost GDP by $6.5 trillion by 2030. To tap into this potential while ensur- ing people continue to steer techno- logical and economic development, the fundamentals of higher education require a reboot—and soon. Prioritising multidisciplinary education Higher education traditionally focused on nurturing high-level manpower— productivity-driven individuals with specialised skill sets or sectors. Howev- er, technological advancement and the knowledge economy have collapsed the silos between jobs and industries, prioritising creators, thinkers and in- novators over worker bees. The sands of specialisation are shifting. Multidisciplinary higher edu- cation enables students to develop flex- ible and adaptable skills and navigate seamlessly between various functions, systems and challenges – a prerequisite in the digital era. I see this playing out in real-time amongst our students at the Dubai Institute of Design and Innovation (DIDI), where they must combine two disciplines to graduate. By compound- ing creative and STEM foundations, we challenge our young designers to de- velop diverse technical and essential skills and empower them to deliver innovative projects in health tech, sustainability, fashion, urban planning, agri-tech, and more. The structure, in part, demon- strates design’s versatile applications Higher education is the primary channel for preparing students to thrive professionally and participate in the global economy THE SHIFTING PARADIGMS OF HIGHER EDUCATION FOR A NEW ERA OF WORK Through holistic, immersive education, the next generation can help foster a positive future and sustainable economic growth BY MOHAMMAD ABDULLAH, PRESIDENT OF THE DUBAI INSTITUTE OF DESIGN AND INNOVATION I EDUCATION the World Economic Forum (WEF), by 2027, 43 percent of work tasks will be automated, a future we can neither deny nor fault as the world shapes itself around swift, continuous innovation and digital advancement. EDUCATION MAY 2024 CEO MIDDLE EAST 27 across various economic, environmental, and societal challenges while fostering vital transferrable traits, such as collabo- ration and complex problem-solving. Incorporating emerging technologies More than three-quarters of companies plan to adopt big data, cloud com- puting, and AI in the next five years, WEF’s The Future of Jobs Report 2023 found. Another 85 percent want to in- corporate digital platforms and apps into their operations. Digital literacy and familiarity with technology are precon- ditions in the current work landscape. Redesigning the curriculum to include modules on emerging technologies will enable students to learn their purpose and access their potential. Rather than fearing how technological advancement will inevitably impact their future and jobs, tomorrow’s talent pool will be equipped to leverage these technologies positively and impactfully. Prioritising hands-on, project-based education Project-based learning is on the rise, and for good reason. Hands-on experi- ence allows students to better absorb and apply theory. Public-private part- nerships have been outstandingly valu- able for DIDI students, bringing real- world, industry-spanning challenges and opportunities into the learning en- vironment. Our students are currently developing projects for the Sustainable Markets Initiative’s Terra Carta Design Lab, a global competition launched by King Charles III and Sir Jony Ive for students to design high-impact solutions for the climate crisis. To qualify for funding, the solutions must be commercially viable, requiring a multidisciplinary and business-minded approach from ideation to execution. The bar for excellence is high, with top design schools in the UK, India and the US also participating. By bridging the gap between academia and the public-private sector, external real-world experiences ena- bles students to nurture indispensable and transferable qualities and hone their professional readiness. Changing the function of professors As abstract, essential skills gain impor- tance, the role of the university profes- sor requires modification. Lectures and presentations still have a place in a student’s education journey, but what leaves a lasting impact is the independ- ence, curiosity and proactivity profes- sors instil in their students. In this new chapter of education, professors are not just teachers – they are mentors, partners and collaborators. Rather than prescribing the right or wrong answers or processes, profes- sors who encourage students to find a solution through collaboration, trial and error, and reiteration help them better retain knowledge and remove the stigma of failure. The combination of project-based learning, external ex- pert speakers, and global collaboration requires professors to be more involved in each student’s journey, guiding rather than instructing. The new normal in academia We are on the cusp of a new era of higher education. How curricula are designed requires urgent transforma- tion to meet the demands of the future world. We risk impairing a future gen- eration of digital natives by holding onto the fading traditions of education. Education must supplement tech- nical and skill-based learning with a consideration of values and empathy so that tomorrow’s creators positively im- pact the world. People who think criti- cally about the why behind solutions, who and what they impact, and how the solution resonates across differ- ent use cases and audiences. Through holistic, immersive education, the next generation can help foster a posi- tive future and sustainable economic growth. Technical and strategic skills remain essential in the future of work, according to Abdullah students can access industry expertise, resources, and real-world challenges, enhancing the relevance and impact of their learning experiences. Internships complement such efforts, and even the UAE Ministry of Education is en- couraging students to pursue extended four-month internships for impactful immersion. However, recurring col- laborations with external partners sig- nificantly enrich the learning journey and prepare students to navigate the professional world better. Mastering transferable skills Technical and strategic skills remain es- sential in the future of work, but there’s a growing awareness for soft skills such as communication, teamwork, prob- lem-solving, and adaptability. Firstly, I find ‘soft’ skills inadequate and misleading. I much prefer “essen- tial traits” because these are mandatory qualities in the modern, globalised world. Employers value well-rounded, effective, and proactive employees who can work well in teams and approach challenges from various angles. Higher education has only re- cently begun incorporating essential skills development into its curricula through workshops, collaborative projects, and experiential learning op- portunities. Complementing lectures with project-based curriculums and TECHNOLOGY 28 CEO MIDDLE EAST MAY 2024 n the contemporary land- scape of luxury retail and fashion, the significance of partnerships goes beyond traditional business transactions. These collabo- rations encompass brand alliances, educational synergies, and governmen- tal engagements, all of which serve as the backbone for industry innovation, sustainability, and growth. As this dynamic sector continues to evolve, integrating diverse collabora- tions with like-minded partners is key Samer Khouri, Managing Director of Etoile Group, explains the power of partnerships in luxury retail CATALYSING CREATIVITY AND SUSTAINABILITY A research from McKinsey & Company highlighted that partnerships between luxury brands and local entities can drive up to a 20 percent increase in market penetration and consumer engagement I RETAILRETAIL MAY 2024 CEO MIDDLE EAST 29 to navigating challenges and oppor- tunities of a rapidly changing industry and marketplace. Recent studies underscore the piv- otal role of cross-sector collaborations in enhancing the luxury retail ecosys- tem, with research from McKinsey & Company highlighting that partner- ships between luxury brands and local entities can drive up to a 20 percent increase in market penetration and consumer engagement. In the context of the evolving landscape of luxury retail, our strategic expansion at Etoile Group through key brand partnerships and store openings represent a forward-thinking approach in regional market development. These expansions aim to tap into new mar- kets and consumer bases while high- lighting the enduring partnerships that have flourished for over four decades in the region, reflecting our commitment to excellence and longevity. Our recent key openings in the first quarter of 2024 exemplify how a deliberate selection of brand collabora- tions and geographic locations under- pin the broader strategy to elevate the luxury retail sector on a regional scale. This includes Chanel’s new flagship store in Bahrain, encompassing the brand’s three divisions – Watches and Fine Jewellery, Fashion, Fragrance and Beauty. There have also been enhance- ments to stores across Kuwait and Jeddah, with additional Etro boutiques opened in Bahrain and Riyadh. A Tod’s boutique has also opened in Bahrain, with new locations in Riyadh, Dubai, and Abu Dhabi. Aquazzura has also ex- panded its presence in Kuwait, Bahrain, Jeddah, Riyadh, and Dubai. Addition- ally, Etoile La Boutique has entered Jeddah and introduced new locations in Abu Dhabi, alongside an enhancement of our shop-in-shop at Galeries Lafay- ette Dubai. These stores are indicative of a larger vision to diversify luxury retail presence across the region and tap into new markets and consumer bases. Another significant aspect of the growth of this industry is collabora- tions with educational institutions, which are also critical to fostering innovation while bridging the skills gap in the industry. The intersection of industry and academia is crucial for cultivating the next generation of talent and for injecting fresh ideas into the luxury market. While the broader narrative focuses on the industry at large, Etoile Group’s partnerships, such as the one with the Fashion and Design Institute (FAD) in Dubai, reflect the tangible benefits of cross-sectoral collaborations, par- ticularly those with higher education institutions. This partnership is designed to cultivate the next generation of de- signers and artists in the Middle East, offering them mentorship, resources, and platforms to showcase their creativity. It is a strategic initiative that aligns with our goal of fostering a sustainable ecosystem where young talents are empowered to innovate and thrive. Such initiatives are not in isolation but are part of the larger industry-wide efforts to navigate the complexities of the modern luxury retail landscape. The future of luxury retail and fashion hinges on the strength and depth of cross-sectoral partnerships. The success of these collaborations is not confined to the immediate growth and development of Etoile Group or the luxury retail sector. It has a ripple effect, inspiring innovation, fostering talent, and encouraging sustainable practices across industries. As we look ahead, the focus will remain on expanding these collabora- tions and exploring new avenues for growth. The continued emphasis on these partnerships will be paramount in fostering an ecosystem that is, vibrant, dynamic, and more importantly resil- ient and sustainable. “THE INTERSECTION OF INDUSTRY AND ACADEMIA IS CRUCIAL FOR CULTIVATING THE NEXT GENERATION OF TALENT” Khouri says the future of luxury retail and fashion hinges on the strength and depth of cross-sectoral partnerships $2.89bn The projected revenue in the luxury goods market in the UAE, according to figures from Statista Such strategic expansions under- score the importance of aligning with brands that share a vision for innova- tion, sustainability, and exceptional client experience. This is crucial in a region that is rapidly becoming a global hub for luxury retail, driven by a sophisticated consumer base with a keen appreciation for high-end fashion and luxury goods.Next >