< PreviousTECHNOLOGY 30 CEO MIDDLE EAST MAY 2024 n today’s global economy, education is a gateway to the world. Higher education does more than broaden minds; it opens borders, mak- ing it a critical asset for anyone looking to explore career opportunities globally. According to a report by the Organi- sation for Economic Co-operation and Development (OECD), over 35 percent of migrants in OECD countries hold And it’s not just a matter of pref- erence or an arbitrary requirement, it’s because educated immigrants are seen as economic assets by host countries. They have the skills and knowledge that can drive economic development, making them a highly valued commodity. This is crucial in countries where there are skill gaps that the local talent pools may not be able to cover, espe- cially in emerging growth industries like renewable energy, biotechnol- ogy, and artificial intelligence, which demand specialised knowledge and unique insights that educated immi- grants can bring. The global competition for talents like these is so high that countries ac- tively compete to attract them through various skilled migration programmes and incentives. These programmes often include benefits like expedited visa processing, tax exemptions, and eligibility for permanent residency, all designed to lure top talent and capital- ise on their potential. Skilled migration: The global hunt for talent The UAE is a prime example of this approach having become a magnet for skilled professionals worldwide. Its proactive immigration policies have successfully transformed its demo- graphic and economic landscape. Nearly 90 percent of its population consists of expatriates, reflecting its global appeal, and non-oil sectors now contribute around 90 percent of the GDP, underscoring a massive shift towards diverse industries fueled by international expertise. The linchpin of this success has been its Golden Visa programme. Since its launch in 2019, it has brought in more than 152,000 highly skilled professionals, entrepreneurs, scientists, and outstanding students in fields ranging from technology and finance to healthcare and education. Educated immigrants have the skills and knowledge that can drive economic development, making them a highly valued commodity EDUCATION IS THE KEY TO GLOBAL MOBILITY Like the UAE, many nations are tailoring their immigration policies to leverage the potential of highly educated immigrants BY SANA HUSSAIN, UK SOLICITOR AT THE KNIGHTSBRIDGE GROUP (DUBAI) I EDUCATION a tertiary degree. While data from the UK’s Office for National Statistics (ONS) reveal that in 2020, about 48 percent of non-EU nationals who moved to the UK for long-term work-related reasons had a formal university qualification. These statistics show that when it comes to international relocation, in- dividuals with higher education levels consistently enjoy broader options than those less qualified. EDUCATION MAY 2024 CEO MIDDLE EAST 31 Other countries have followed a simi- lar blueprint, adopting their own versions of the Golden Visa to attract international talent and spur economic growth. For instance, Canada’s Express Entry system has streamlined the process for skilled immigrants to enter the workforce, significantly contribut- ing to sectors such as technology and healthcare. This system uses a compre- hensive ranking system that favours individuals with high educational attainment, enhancing their eligibility for permanent residency. Australia’s Global Talent Visa is another similar programme, offering a streamlined pathway to permanent residency for those with proven track re- cords of success in high-growth sectors. In Europe, Germany’s Blue Card programme provides a residence permit for highly educated non-EU nationals. The Blue Card is particularly appealing because it requires applicants to have a university degree and offers a clear path to EU residency after a set period of high-earning employment. The Netherlands’ Highly Skilled Migrant Programme is another ex- ample where education plays a critical role. It allows companies to hire indi- viduals from outside the EU, provided they meet certain salary thresholds and educational qualifications. These examples demonstrate a clear trend: Like the UAE, many na- tions are tailoring their immigration policies to leverage the potential of highly educated immigrants. Economic Impact of Educated Immigrants The success of these policies can clearly be seen in the economic effect they’ve had on the economies of their host countries. The UAE’s efforts in becoming a regional tech hub through the crea- tion of free zones like Dubai Internet City and Abu Dhabi’s Hub71 has at- tracted global giants and startups alike, is crucial for innovation and eco- nomic growth, but it’s not enough to just facilitate their entry, countries also have to find ways to integrate them into the labour market as ef- fectively as possible. Government support The UAE has developed a compre- hensive ecosystem that does that very effectively. Through incubators and accelerators like Dubai Future Accel- erators, In5 and AstroLabs, it provides start-ups with crucial resources such as funding opportunities, mentorship, office space, and access to an extensive network of investors. Initiatives like the Khalifa Fund for Enterprise Development and the Mohammed Bin Rashid Fund for SME also play a pivotal role in nurturing en- trepreneurship with both financial and non-financial assistance. Networking opportunities are also plentiful. Or- ganisations such as the Dubai Chamber of Commerce and Industry and the Abu Dhabi Chamber enable new im- migrants to connect with established business leaders and peers and are crucial for new arrivals seeking advice on setting up businesses or exploring career opportunities. There are also numerous legal firms and consultancy agencies that special- ise in helping immigrants navigate the UAE’s legal landscape in areas like business registration, obtaining neces- sary licences, and ensuring ongoing compliance with local regulations. Look beyond borders The message then is clear: Education is a passport to better career prospects. As nations continue to compete for global talent, the potential for educated individuals to explore and thrive in new environments is vast. Don’t be limited by borders. By looking a little further afield, the op- portunities for better jobs and richer experiences are endless. “BY LOOKING A LITTLE FURTHER AFIELD, THE OPPORTUNITIES FOR BETTER JOBS AND RICHER EXPERIENCES ARE ENDLESS” The potential for educated individuals to explore and thrive in new environments is vast, says Hussain creating an industry that is poised to contribute 9.5 percent to the UAE’s GDP by 2031, according to the Dubai Chamber of Commerce and Industry. Equally, projects like Dubai Healthcare City have helped make the UAE a hub for medical tourism and medical professionals globally and put the sector on track to contribute over $2.4 billion to GDP by 2025. Other countries have had similar success. In the US, educated immi- grants contribute nearly $2 trillion to the economy each year, representing a substantial portion of the GDP, and in Canada immigrants account for 35 per- cent of all PhD holders in STEM fields. These nations understand that attracting highly educated individuals TECHNOLOGY 32 CEO MIDDLE EAST MAY 2024 n the Gulf states, especially in the UAE, we are accus- tomed to narrowly focus- ing efforts in finding the next best off-plan real estate project to cushion our investment portfolio. Off-plan projects are popular because of the potential for strong capital apprecia- tion and high rental returns coupled with a fixed access that feels secure. By carefully picking the right ones, we can generate income for genera- tions to come. We are used to this dialogue. It’s the topic of discussion on Friday nights as friends pass around glossy brochures of an evergreen landscape that will be constructed in an oth- erwise desert terrain. What can be better than having a prized asset in an oasis? We need to get more com- fortable in discussing more nuanced topics that have vast ramifications for generations to come. Building up our investment portfolio isn’t the end all and be all. There are other aspects of life to consider and plans for: Where will we retire? Where will our kids go to school? What will the future of the family look like in the next 30 years? A more engaging topic for discus- sion is planning for the family’s future across generations. While some might be excited about adding another one- bedroom to their property collection, committing to a passport or residency program for the benefit of our kids can hold greater value than any property investment ever could. It offers stability and security for the entire family. Shai Zamanian, founder and di- rector of The American Legal Cent- er, an immigration firm laser-focused on the United States EB-5 program, explains how he got into the busi- ness of multigenerational planning through immigration. “My journey into offering multigenerational plan- ning services to clients seeking access to the United States was deeply influ- enced by my childhood experiences. There’s more to investing in the future than just real estate OFF-PLAN REAL ESTATE OR INVESTING IN MULTIGENERATIONAL PLANNING? Shai Zamanian, founder and director of The American Legal Center, an immigration firm laser-focused on the United States EB-5 program BY CEO MIDDLE EAST STAFF I FINANCEMAY 2024 CEO MIDDLE EAST 33 FINANCE My parents’ sacrifice of foregoing immediate investments for the prom- ise of a brighter future for myself and my younger brother, served as the driving force behind my venture into guiding others through the EB-5 program.” Shai is a US attorney with over a decade of experience in the EB-5 industry. The EB-5 program is the US equivalent of a Golden Visa, offer- ing families the chance to secure US residency and the US passport for themselves and their dependents by investing $800,000 in the United States. “Over the last ten years, my team of licensed US attorneys and I have navigated the twists and turns of this US government immigration pro- gram. Just to give you an idea, in June 2021 alone, we handled a whopping 6 percent of all EB-5 applications world- wide,” Shai shares enthusiastically. Immediate gratification or long-term benefits So why is it so difficult for many of us to embrace passport or residency programs yet easy to draw that first cheque to buy an off-plan? This stems from the prevalent human tendency to live in the moment. It’s challeng- ing for individuals to divert their focus from immediate gratification and consider the long-term benefits that these immigration programs can offer. “Investing in these programs demands a forward-thinking mindset, but that can get drowned out by our desire for quick wins and tangibles,” says Shai. “Take the EB-5 Golden Visa program as an example. It’s all about multigenerational planning, especially for the kids. The common thread among 90 percent of our clients is that they have a child with aspirations of studying and working in the United States. These families are not the high- est echelon of earners, they generally comprise of the upper middle class. They know the cost of sending their rooted in false promises, particularly prevalent in some regions like the Middle East. Culturally, walking into a trusted sales centre, such as Emaar in Downtown, provides a sense of safety and reliability, whereas dealing with immigration offices may evoke uncertainty. “As the founder of a successful im- migration firm, I understand people’s reservations in placing blind trust in these offices. It’s totally understand- able. My advice? Don’t put blind faith in any immigration office until they prove themselves trustworthy. Ask questions upfront: How long have they been around? What’s their track record? Will they vanish once you’ve paid up? These are all valid concerns you should address from the get-go. As for me, I’ve been all in on the EB-5 Golden Visa program since I moved to Dubai over ten years ago. I’m driven by my own journey and the desire to help others chase their American dream. That’s why I’ve built a team of top-notch US lawyers and profession- als to offer these services in the Middle East and GCC region. As for our track record, we’ve got a perfect approval rate so far, and we’ve got the receipts to back it up.” Priorities pave the path The choice between making another off-plan investment or investing in your family’s multigenerational plan- ning may seem like a hard one, but it ultimately boils down to priorities. If you know your kids have aspirations of studying abroad, it’s imperative to plan now. If they study in the US, they will want to study and work and will ultimately seek to make it their new home. What better value than to keep families together in older age? The prospects of a real estate investment may pay dividends for some time, but securing the future for your kids, grandkids and generations to come will build a legacy. “IN JUNE 2021 ALONE, WE HANDLED A WHOPPING 6 PERCENT OF ALL EB-5 APPLICATIONS WORLDWIDE” The American Legal Center have built a team of top-notch US lawyers and professionals to offer services in the Middle East and GCC region son or daughter abroad for educa- tion, they undertake the Golden Visa program, in hopes of having the US government cover all education costs, including tuition, books, transporta- tion, insurance, housing, and more. Sure, buying another property might bring in some cash, but going for the EB-5 Golden Visa means unlocking a whole world of possibilities. Your kids get access to the US, top-notch educa- tion, and a chance to start their careers in a global hotspot.” Trusting immigration offices Yet another reason why people are hesitant of passport or residency programs as a way of multigenera- tional planning is the lack of trust in immigration offices. The scepticism is TECHNOLOGY 34 CEO MIDDLE EAST MAY 2024 he move to sustainable prod- ucts and services is a global trend, accelerating at different speeds across different regions. Driven by increasing awareness of environ- mental issues, ethical concerns, and a desire for healthier lifestyles, consumers are demanding more eco-friendly and socially responsible options. The outcome is an increased demand that transcends sectors – from electric cars and eco-friendly tourism, to new approaches to ethical fashion and the transformation of the food and beverage sector. But what does this trend look like in the UAE and wider GCC region? Are people reported high levels of concern about sustainability, and these con- cerns have increased over the past two years, prompted by extreme weather. In terms of age demographic, it was found that Generation Z (72 percent) and Baby Boomers (68 percent) in our region were almost equally concerned about the environment. So what’s the problem? The issue is that consumer behaviour can evolve faster than many companies expect, of- ten influenced by external factors such as government regulations. To take a couple of examples: China introduced financial incentives for electric vehicles in 2009, resulting in 19 percent of Chinese consumers now driving elec- tric cars – far higher than the global average. In the UK, a requirement for retailers to charge customers for single- use plastic bags has reduced their usage by 98 percent since 2015. So, it’s often consumers and governments taking the lead, with companies trying to keep up. The numbers back this up: over 60 percent of businesses are not on schedule to meet their sustainability objectives. However, there is reason for optimism, with research suggesting that consum- ers (and employees) could play a cru- cial role in guiding businesses towards their sustainability goals. Businesses listening to their cus- tomers and employees will also help with another challenge – aligning a company’s sustainability metrics with those most relevant to customers. For example, consumers are often more concerned about how a product will be re-used or recycled. Meanwhile, businesses might measure sustainability based on factors such as how products are made, components used, and the supply chain. It’s the role of marketing and good external communication to bridge that gap. The stakes are high. According to the Visa 2023 Sustainable Com- merce Study – which focused on the Everything GCC companies need to know CONSUMER DEMAND FOR SUSTAINABLE PRODUCTS AND SERVICES There is a growing demand for clothing made from organic or recycled materials, as well as for brands that prioritise ethical labour practices BY ANISHA SAGAR, HEAD OF MARKETING AND COMMUNICATIONS, MEYDAN FREE ZONE T SUSTAINABILITY we behind or ahead of the curve? And what should entrepreneurs and busi- nesses in our region be thinking about when they decide to enter the market with a sustainable product or service? These are vital questions, because in my view there are some disconnects that are not always addressed. Let’s look at these now. Sustainability: What do GCC customers really care about? The first thing to understand is that there is growing awareness in the GCC around sustainability. A study of 23,000 regional consumers by Bain & Company showed that 64 percent of SUSTAINABILITY MAY 2024 CEO MIDDLE EAST 35 UAE, Saudi Arabia, Kuwait and Qatar – between one-third to one-half of all consumers said they ‘consciously choose sustainable products’, even if they are more expensive. Keeping up with regulations — how to stay current To align yourself with what your customers care about, you need to stay up-to-date with government regula- tions, and where possible get ahead of them. The UAE has made remarkable progress in promoting sustainability through initiatives like UAE Vision 2021, UAE Water Security Strategy 2036, Abu Dhabi Sustainability Week, Dubai Clean Energy Strategy 2050. In Saudi Arabia, the Saudi Vision 2030 initiative, the National Renewable Energy Programme, and the Sustain- able Agriculture Initiative are just some of the programs in place. These various endeavours have heightened awareness and influenced consumer behaviour towards more eco-friendly choices. What sectors are most affected? Almost all sectors are affected by the move to sustainability, but let’s focus on four crucial ones: • Fashion: There is a growing de- mand for clothing made from organic or recycled materials, as well as for brands that prioritise ethical labour practices. Companies such as Patagonia have gained popularity for ‘greening’ their supply chain. In the UAE, Tamashee is a footwear brand that seeks to preserve culture and identity and has a charitable component for each pair of shoes sold. • Food and beverage: Consum- ers increasingly choose organic, locally sourced, and plant-based options. This trend reflects concerns about health, animal welfare, and the environmental impact of intensive farming practices. Brands such as Oatly – a company producing alternatives to dairy prod- Sustainability strategies for businesses I would recommend focusing on two key areas: • Stay ahead of regulatory changes. As we have seen, government policies significantly impact consumer behav- iour. Across all sectors, companies must take the lead in adapting to regulations that affect their operations. A company’s capacity to anticipate policy shifts and develop resilient strategies will determine its ability to outperform competitors. • Formulate an agile strategy: Fol- lowing on from the previous point, any plans made for the next decade need to incorporate strategies to cope with rap- idly changing regulations and consumer behaviour. In such a dynamic landscape, companies can aggressively leverage marketing experiments, utilising digital tools to swiftly test sustainability mes- sages and adapt to resonate with diverse consumer segments. Conclusion Research in the UAE, Saudi Arabia, and Kuwait reveals that 76 percent agree that a company’s sustainability efforts are likely to positively impact their choice when buying products. In addition, almost three-quarters said they would pay more for an item if the company selling it demonstrated sustainable practices. Companies in the GCC need to keep this in mind. From fashion to food, and from transportation to tourism, businesses worldwide are adapting to meet this demand by offering eco-friendly al- ternatives and embracing sustainabil- ity practices. In our region, this trend is gaining momentum, supported by government initiatives and a growing awareness of environmental issues. As consumers become more discern- ing and conscious of their impact on the planet, the demand for sustain- able solutions will continue to grow, shaping the future of commerce and consumption. Sagar believes the demand for sustainable solutions will continue to grow, shaping the future of commerce and consumption ucts – was ranked by UK consumers as the country’s most sustainable food and drink brand. Meanwhile, Ripe Market in Dubai is dedicated to nurturing a vibrant community through innovative ideas, wholesome products, eco-friendly habits, and practices that promote well-being. • Hospitality: There is a shift towards sustainable tourism practices, with hotels and resorts implementing energy-efficient measures, reducing single-use plastics, and supporting local communities. The UAE boasts many eco-friendly hotels, while the intro- duction of eco-tourism experiences in destinations like Ras Al Khaimah demonstrates a commitment to sustain- able tourism development with wildlife sanctuaries and marine protected areas. • Banking: One study discov- ered a significant trend among bank customers across UAE, Saudi Arabia, Kuwait and Qatar, with an average of 71 percent of those surveyed express- ing a willingness to endorse banks that provide sustainable payment options. In fact, 66 percent of consumers reported choosing a bank based on its sustainability practices in the last 12 months. Consumers consider various factors such as simplified net banking, going paperless, and environmentally conscious operations as integral to their decision-making.TECHNOLOGY 36 CEO MIDDLE EAST MAY 2024 t’s clear generative AI is not only the next big thing, but looks set to have real staying power. From providing straightfor- ward answers to questions, to creating bespoke imagery, written communica- tions and audio, many of the potential use cases of this technology are in the early stages, with more we likely haven’t even considered yet. What’s new with this type of AI is that, historically, these technolo- gies were classifiers. AI systems could be trained to distinguish and classify the difference between two different images, for example. Generative AI is an umbrella term for processes that can automatically create something that doesn’t yet exist in the real world, based on the data it has been trained on. It’s this creativity that is set to be totally transformative. Wide ranging impacts It’s likely that the automation and deci- sion-making power generative AI can provide will lead to further advances in fields like marketing and communica- tions, software development and other areas where the ability to autonomous- ly complete business and IT processes could be hugely beneficial. With this power comes great responsibility, however. While the potential use cases offer all kinds of op- portunities, it also could have disastrous consequences in the wrong hands. Many organisations have already issued blanket prohibitions, or at least guide- lines on the usage of generative AI, en- couraging staff to exercise caution and be mindful of copyright, accuracy and data privacy concerns. Bad actors are also closely analysing these technolo- gies to see how they could benefit, just as legitimate organisations are. Legislative responses Governments around the world are already taking steps to establish guide- lines around usage, with the young As businesses experiment with implementing AI models, it’s not something they can put in place and then forget about GUARDING AGAINST CYBER THREATS IN THE AGE OF GENERATIVE AI Generative AI is an umbrella term for processes that can automatically create something that doesn’t yet exist in the real world, based on the data it has been trained on BY EMMANUEL DE ROQUEFEUIL, VICE PRESIDENT MIDDLE EAST, THALES I TECHNOLOGYTECHNOLOGY MAY 2024 CEO MIDDLE EAST 37 and ambitious countries of the Middle East pushing ahead. The UAE has the ambition to take a leading role in the development of responsible AI and advancing the regulation of AI. As part of its forward- thinking plans for digitalisation, the UAE Government has developed its national strategy for AI and has ap- pointed a national Minister of State for Artificial Intelligence, aiming to make the UAE the world’s most prepared country for artificial intelligence. The UAE Strategy for Artificial Intelligence aims to boost govern- ment performance at all levels, use an integrated smart digital system that can overcome challenges and provide quick efficient solutions, make the UAE the first in the field of AI invest- ments in various sectors and create new vital market with high economic value. This supports the intent to become one of the leading nations in AI by 2031 in alignment with the UAE Centennial 2071, creating new economic, educa- tional, and social opportunities for citi- zens, governments and businesses and generating up to AED335bn ($91.2bn) in extra growth. Preparedness is less apparent in other parts of the world. The EU agreed the provisional rules of the EU AI Act at the end of 2023, to be finalized this year, while in the US, the White House has released an Executive Order on AI, directing federal agencies to develop guidance on its use and the potential risks. However, for the mo- ment, the country continues to rely on a self-regulatory approach to AI. From breach risks to trust concerns While generative AI tools have been around for some time, it’s only re- cently that forms of them have been released into the public domain for anyone to pick up. The rapidly ad- vancing technology and its use cases makes for a challenging environment to issue guidelines and legislation, but ingly, combatting these risks this may come from AI itself, using other kinds of tools to perform linguistic analy- sis and syntax detection to reverse engineer text, imagery and video and flag content. Establish clear usage policies As businesses experiment with imple- menting AI models, it’s not something they can put in place and then forget about. It requires ongoing work to re- view the decisions that are being made and make every effort to ensure harm- ful outputs and toxicity are minimised. This involves establishing some clear principles around usage to make ethical development a reality. For example, humans need to be involved in reviewing all the datasets and documents involved in training models, as well as removing biased and false elements. Businesses should only use data that customers share proactively, or that the business collects directly – otherwise they risk impact- ing accuracy and trust. Alongside any work they might be doing to implement generative AI models of their own, organizations also have a responsibility to educate their workforce and customers around the cyber risks these technologies can pose. They need to be constantly mindful of impersonation scams, phishing and other techniques that generative AI has the potential to make even more convincing. Generative AI is now mainstream, and we have only just begun to realise the impact it will have on our lives. This period of rapid transformation makes it tempting for businesses to jump on the bandwagon quickly, but without clear frameworks in place around their development and usage, businesses risk potentially disastrous consequences. They must stay vigilant to potential new threats and formalise their approaches with policies before taking the next step. “GENERATIVE AI IS NOW MAINSTREAM, AND WE HAVE ONLY JUST BEGUN TO REALISE THE IMPACT IT WILL HAVE ON OUR LIVES” AI-generated outputs can be used to make cybercrime more lucrative and convincing, believes de Roquefeuil understanding the risks and rewards are essential. The main concerns around genera- tive AI can be boiled down to either trust or security. AI models, because of their reliance on training and data in order to work, can easily give outputs that are biased or factually incorrect. These can be difficult to spot, or inad- vertently further entrench biases that unfortunately exist within society. AI-generated outputs can then be used to make cybercrime more lucra- tive and convincing – whether it’s launching a social engineering attack, fine tuning malware code to make it harder to detect, or using AI to generate and share guides, advice and tutorials with cybercriminals. Interest-CARTIER 38 CEO MIDDLE EAST APRIL 2024 Panthère de Cartier watch, steel. Cartier watches 38 CEO MIDDLE EAST MAY 2024 CARTIER PERFECT PROPORTIONS Being a master of shapes is, above all, an exploration. What can be created with a square, circle, oval or rectangle? By measuring the effects of symmetry, parallelism or asymmetry, by adding perspective, by creating depth, French luxury house Cartier seeks to bring movement and a new life to every form. 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