< Previous10 edge_may 2023 feature Immersive revolution A s one of the most ambitious and technologically advanced cities in the world, Dubai has set its sights on becoming a leading player in the development of the metaverse. Last year, Dubai introduced its very own ‘Metaverse Strategy’, an ambitious plan to build a thriving virtual ecosystem that blurs the line between physical and digital realities. The metaverse is a technology that promises disruptive outcomes in the near future. It’s a gateway to immersive experiences, new connections and increased collaborations in a virtual space. Dubai: Leading the charge in the metaverse The Dubai Metaverse Strategy was announced by UAE Vice President and Prime Minister, and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum in June 2022. The strategy aims to increase the contribution of the metaverse sector to the emirate’s economy to $4 billion by 2030. The initiative is being headed by the Dubai Crown Prince Sheikh Hamdan bin Mohammed bin We take a look at how the Dubai Metaverse Strategy can foster job creation, driving technology advancements and unlock business prospects $4BN The expected value of Dubai’s metaverse sector by 2030 METAVERSE Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council By Adelle Geronimoedge_may 2023 11 feature12 edge_may 2023 feature Rashid Al Maktoum and focuses on several pillars including innovation, government implementation of metaverse technologies and talent development. It also seeks to leverage emerging technologies such as virtual, augmented, mixed, and extended reality (VR/AR/MR/XR), blockchain, digital twins, 5G, non-fungible tokens (NFTs), machine learning (ML), and many others. At the time of the launch, Sheikh Hamdan highlighted how the strategy aims to double the number of metaverse-related companies in the emirate in the next five years. “The Dubai Metaverse Strategy is the next revolution in the technological and economic field. We have 1,000 companies in Dubai currently working in this sector, which contributes $500 million to our national economy. We expect it to rise strongly during the coming period,” he said. Furthermore, the strategy aims at ensuring that the metaverse increases its contribution to one percent of the emirate’s overall GDP. Another goal of the strategy, is doubling the number of metaverse and blockchain companies in Dubai, as well as creating 40,000 jobs in the sector. With the initiative, Dubai plans to promote innovation and increase the economic impact of the metaverse through research and development collaborations. It also focuses on establishing advanced ecosystems with accelerators and incubators that attract investors and companies to emirate. Furthermore, the strategy prioritises the development of talent and set worldwide benchmarks for constructing secure and trustworthy platforms for users and simultaneously enhance metaverse infrastructure and regulations. A global hub for innovation So, why is Dubai investing significantly in the metaverse? For starters, the metaverse is projected to become a massive industry in the coming years. Current estimates expect business revenues from the metaverse to grow from $180 billion to $400 billion by 2025. And if Dubai can position itself as a key player in the virtual world, it stands to benefit greatly from this growth. The strategy further strengthens Sheikh Mohammed’s grand vision to make Dubai an international hub for digital innovation, creativity and technology. With the implementation of this visionary plan, technology professionals, investors, and the entire tech community will have access to a wealth of opportunities. Additionally, the Metaverse Strategy will empower tech professionals with the latest tools, platforms, and applications to create innovative solutions in various fields like AI, robotics, virtual reality, and cloud computing. It’s a game-changer that will enable Dubai to bring different industries together and create an immersive Web3 experience. A place where people can interact with each other and various virtual elements to create a new dimension of reality. Reshaping the emirate Dubai has always been a hub for business, tourism, and innovation, and the metaverse has the potential to revolutionise all of these areas. For businesses, the metaverse presents new opportunities to connect with customers, promote products, and conduct transactions. In the metaverse, companies can create immersive experiences that allow customers to try out products before they buy them, or even create virtual stores where customers can browse and shop in real-time. Tourism is another area where the metaverse can transform Dubai. In the GCC, the travel and tourism sector has the potential to reap the greatest economic gain from the metaverse with an estimated $3.2 billion by 2030. As an already popular destination for tourists, the metaverse can take Dubai tourism to the next level. In the metaverse, tourists can experience the city in ways that were previously impossible. They can explore the landmarks, interact with locals, and even visit places they couldn’t have gone before. Dubai has always been a city that encourages entrepreneurs and innovators, and the metaverse offers new avenues for this. In the metaverse, anyone can create anything they can imagine, from virtual art galleries to immersive gaming experiences. The possibilities that the metaverse offer are endless. With its strong technology ecosystem, robust business framework and progressive government, Dubai is well-positioned to be at the forefront of this new era of innovation. The Metaverse Strategy adheres to the Dubai Economic Agenda D33, which will see the emirates double the size of its economy over the next 10 years 40,000 Number of virtual jobs that will be created in line with the strategyFICTION to REALITY ‘AI will transform industries, augment human abilities, and shape society’ (This line was written by AI) ARTIFICIAL INTELLIGENCE By Adelle Geronimo 14 edge_may 2023 cover storyA rtificial intelligence (AI) has been one of the hottest buzzwords in the tech industry for years and for good reason. It’s the stuff of science fiction: machines that can learn, reason, and make decisions on their own. The phrase “artificial intelligence” was first coined in the 1950s and has come a long way since. In the early days, AI was limited to simple tasks such as playing chess and solving mathematical equations. A lot of the notions around AI in the past were influenced by popular culture with movies such as “The Terminator” and “The Matrix,” and fictional characters like Commander Data from “Star Trek: The Next Generation.” These cultural references have become a revered mythology that’s often associated with AI. But AI is no longer just a fantasy. It’s becoming a reality, and it’s impacting every aspect of our lives, including the workforce. With advent of deep learning and neural networks, AI can now recognise speech, analyse images, and even drive cars. Today, advancements in AI technology have left no field untouched. In healthcare, it’s boosting diagnoses, personalising patient care, and helping medical professionals make informed decisions. Education is also getting a makeover with AI as it powers personalised learning experiences. Retailers are automating processes with AI for inventory management, pricing, and shipping, all to increase efficiency and reduce costs. And in finance, AI is analysing data, preventing money laundering, predicting market trends, and optimising financial operations. Governments worldwide are also jumping on the AI bandwagon. In the Middle East, the UAE is taking the lead with the National Strategy for AI 2031 and even its own Minister of State for Artificial Intelligence. They’ve also set up a council to create an AI-friendly environment and promote public-private collaboration. Saudi Arabia is also pushing hard, prioritising AI development in their Vision 2030 programme and establishing the Saudi Data and AI Authority to drive innovation in key sectors. In the East, China is also in on the action, with massive investments in AI that could net them $150 billion by 2030. Exploring the world of AI Artificial intelligence can be divided into three widely accepted subcategories: narrow AI, general AI, and super AI. edge_may 2023 15 cover story16 edge_may 2023 cover story Narrow AI, also known as weak AI, pertains to intelligent systems designed to perform specific tasks or solve particular problems. Think Siri, Alexa, and Google Assistant. ChatGPT is another example of ANI, as it’s programmed to generate text responses to specific prompts. Meanwhile, General AI, also called strong AI, is a hypothetical concept of creating machines capable of reasoning and thinking like humans. This type of intelligence would be able to understand any intellectual task, think abstractly, learn from its experiences, and use that knowledge to solve new problems. This is said to be the ‘ultimate goal’ of AI research. Finally, we have Artificial Super Intelligence (ASI), a hypothetical system that surpasses human intelligence in all aspects and outperforms humans in every function. While it’s still a long way off, the potential benefits of ASI are astounding. However, if developed unethically or unchecked, ASI could have negative implications. Over the recent past, there have been numerous breakthroughs in artificial intelligence, but some of the latest and most remarkable advancements include the latest releases of GPT 3.5 and 4. GPT 3.5 and 4 are language models that can generate natural-sounding text. ChatGPT, the AI chatbot, is one of the most popular AI tools and can translate languages and answer questions. Self-driving cars are another exciting area of AI innovation, with Tesla’s autopilot feature and Alphabet’s Waymo offering autonomous rides. Robotics has also made incredible progress, with Boston Dynamics creating robots that can navigate challenging terrain. Finally, DeepMind, a While many people fear that AI will replace human employees, there is a high chance that managers are more likely to be replaced ‘first’ Google sister company, is pushing the boundaries of artificial general intelligence and has already created programs that can predict protein structures and diagnose eye diseases. AI anxiety in the workplace In addition to government investment, many businesses across the world are also leveraging AI technology to improve their operations and drive growth. From using AI-powered chatbots to improve customer service to using machine learning algorithms to optimise supply chain operations, businesses across various industries are finding new and innovative ways to harness the power of AI. With AI tools taking over mundane tasks, (in addition to seemingly creative tasks), there are increasing concerns about its impact on the workforce. According to a recent report by McKinsey, up to 800 million jobs could be displaced by automation by 2030. AI is already being used to automate repetitive tasks such as data entry and customer service, but it’s also set to impact highly skilled professions such as law and medicine. In fact, a recent study by Deloitte found that 100,000 legal jobs could be automated in the next 20 years. However, while many people fear that AI will replace human employees, there is a high chance that managers are more likely to be replaced ‘first’. A global study conducted by low-code software firm Pega revealed that 78 percent of executives believe that increasing the use of AI and robots will reduce middle management ranks significantly. Despite years of experience and expertise, managers are some of the easiest people to replace with AI. One of the reasons is the cost-effectiveness 800M Number of jobs that will be displaced by robots by 2030 Source: McKinseyedge_may 2023 17 cover story of AI. Managers are expensive to hire, whereas the initial investment in AI is more expensive, but the cost of maintenance and upgrading is significantly lower. Additionally, with AI lacking emotional intelligence, it is less likely to ask for a raise. AI can also analyse data and make informed decisions like a human manager. Thus, high-skilled workers may not require as much supervision as business owners think, and AI tools can equip them for proper reporting, self-management, and data-backed decision-making. But it’s not all doom and gloom. Industry reports have noted that while the proliferation of AI will continue to disrupt workforces it will also create new jobs, with a net increase of 20 million jobs worldwide. Workers will need to adapt to new technologies and acquire new skills to remain relevant in the job market. In the short term, there may be job losses in certain industries, but in the long term, AI has the potential to create more jobs than it displaces. As for managers, there will remain some complex tasks that will require the expertise of seasoned leaders. These include handling complex client relationships, boosting team morale, and negotiating deals requiring high-level skills like emotional intelligence, critical thinking, and creativity, which are currently beyond the capabilities of AI. Therefore, AI can handle routine tasks, leaving managers with more time to focus on high-level tasks that require their unique skills and expertise. The future with AI There has been no better time to be in the world of AI than now. The advancements in the field today are playing a huge role in shaping the future of business and work. AI has the power to transform the way we live, work, and even save lives. Voice assistants can hail rides from autonomous cars to get to work where they can use AI tools to be more efficient than ever before. Doctors can use AI tools to make faster and more accurate diagnoses, potentially saving countless lives. The race to develop cutting-edge AI technology is heating up, with top players like OpenAI, Microsoft, and Google leading the charge. But many more are following suit including Baidu, Alibaba, Tesla and Amazon, making the future of AI more exciting than ever. With so many talented minds and groundbreaking technologies pushing the boundaries of what’s possible, it’s clear that we’re on the cusp of a truly transformative era in human history. While AI won’t replace all jobs, it will change the nature of work. Opinions on how quickly AI will surpass human capabilities vary. But AI can’t run on its own, so people will need to adapt to new technologies and acquire new skills to position themselves for the jobs in an AI-driven future. AI is a powerful tool that can help us tackle society’s biggest challenges, but it’s up to us to use it wisely. $190.61B The global AI market will reach by 2025 Source: MarketsandMarkets More than 100 million individuals have used ChatGPT as of February 202318 edge_may 2023 The business risk of digital transformation E ven as the global pandemic subsides, enterprises continue to contend with their long-term repercussions, which include, to name a few, inflation, supply chain challenges, labour shortages, and increasing demand for remote work initiatives. To mitigate the impact of these challenges, firms must accelerate their digital transformation timelines. According to a recent IDC forecast, spending on digital transformation in the Middle East, Turkey, and Africa would more than double between 2021 and 2026. The reasons for this exponential increase are clear – when executed correctly, digital transformation offers numerous benefits to businesses, including strengthened network infrastructure, improved data collecting, better resource management, improved customer experience, increased revenues, reduced expenses, and higher return on investment. Regardless of the benefits that digital transformation can provide, it is critical to acknowledge that a digital-first world requires a renewed focus on service availability, quality, delivery, and cybersecurity. Always-on connectivity Understanding what always-connected applications and processes mean for a business is the best way to analyse the potential risks presented by digital transformation. Taking e-commerce as an example, while it may appear easy to focus on the fact that e-commerce is a 24/7 activity, it is critical to grasp what this actually entails in terms of connectivity. For starters, it necessitates consistent, dependable connectivity that is both quick and error-free. It also requires a high level of confidence from users and customers, who provide personal information with the expectation it will be secure from threat actors. E-commerce customers also expect sites to be straightforward and fast, and they quickly lose interest and abandon shopping carts when they are irritated, disrupted, or distracted. Digital transformation also emphasises the need for businesses to focus on both service quality and cybersecurity, balancing the user’s digital experience with the technical restrictions that a secure service necessitates. The example of remote workers exemplifies this balance. Every IT business that enabled remote work during the pandemic was put to the test. User experience was suddenly prioritised for IT firms that needed to offer a great digital experience to support the productivity and effectiveness of workers and workflows. Furthermore, the push By Gaurav Mohan VP, SAARC & Middle East, Netscout SECURITY opinion To be successful in digital transformation, businesses need to first acknowledge the possible risks and identify ways to reduce their impactedge_may 2023 19 opinion to deliver exceptional digital experiences was not limited to employees; customers, vendors, and partners all anticipated stellar digital experiences, and that expectation hasn’t diminished with the easing of pandemic restrictions. Measuring user experience was challenging enough for many businesses. The network visibility required to identify what percentage of an enterprise’s employees was effectively accessing critical collaboration apps became considerably more difficult when those users began accessing those apps from their home networks all over the world. Employees now rely on enterprise internet connections in corporate offices to access business applications and services. Threat actors are aware of this, and their distributed denial of service (DDoS) attacks may prohibit workers at home from accessing services they require. Even simple security methods like multifactor authentication may be damaging to those user experience metrics. Adding more stages and load time between employees and their inboxes, or between customers and the “Place Order” button, makes the experience more secure but also more difficult. Balancing these aspects correctly necessitates a greater understanding of the network through visibility. However, poor network performance and insufficient security can have far-reaching consequences beyond lost revenue and disgruntled staff. Therefore, it is critical to balance security and user experience. Because of the complexity of digital infrastructures, businesses must focus on how digital experiences are measured, monitored, and controlled. Similarly, it is critical to realise that doing so is critical to both business and IT success. Mitigating risks with zero trust To successfully overcome the business risks associated with digital transformation, businesses must first recognise the potential risks and the means to mitigate them. Next-generation workloads, for example, are distributed, modular, and stateless, allowing for both speed and scale. Developers are keen to capitalise on these new application development and delivery methods. Threat actors, on the other hand, are aware of the security implications of these technologies and, as a result, target them for new attack avenues. As a result, organisations must safeguard their existing infrastructure with modern defences capable of absorbing new threats and protecting against attacks today, and into the future. Digital business models also allow firms to migrate applications and data to the cloud, where they may leverage technologies such as the Internet of Things (IoT). However, attackers are fully aware of these technologies’ vulnerabilities, and are increasingly targeting them with sophisticated DDoS attacks. To address many of the issues described above, businesses and governments have begun to implement “zero trust” concepts and expand the use of scalable deep packet inspection. Working together, zero trust and scalable DPI assist avoid data breaches. In the event of a breach, the ability to limit lateral movement and data exfiltration, as well as the capacity to analyse data both in real time and retrospectively, is critical to restoring services and returning to normal operations. “Digital transformation also emphasises the need for businesses to focus on both service quality and cybersecurity”Next >