< PreviousBIG PICTURE 10 Edge/ October 2024 BUILDING TOMORROW Neom, Saudi Arabia’s Futuristic City Words by Sindhu V Kashyap Edge_Oct2024_10-11_Big Picture_13392185.indd 1030/09/2024 15:37BIG PICTURE Edge/ October 2024 11 In 2017, Crown Prince Mohammed bin Salman Al Saud introduced Neom, an ambitious plan to build a futuristic city in Saudi Arabia’s Tabuk Province. Positioned at the northern tip of the Red Sea, Neom aims to span 26,500 square kilometres, redefi ning urban living through innovation and sustainability. The name “Neom” blends the Ancient Greek prefi x neo—meaning “new”—with the letter “M,” representing both the Crown Prince’s name and the Arabic word for “future” (mustaqbal). This refl ects the project’s goal of creating a new future for the region. Key features include a fl oating industrial complex, luxury resorts, and “The Line,” a linear city powered entirely by renewable energy. Neom plans to operate with its own tax and labour laws and an autonomous judicial system. As part of Saudi Vision 2030, Neom seeks to diversify the economy beyond oil and set new standards for sustainable urban development. Despite gradual progress, offi cials remain dedicated to realising its ambitious objectives, hoping it will become a model for future cities worldwide. Edge_Oct2024_10-11_Big Picture_13392185.indd 1130/09/2024 15:38NEWS 12 Edge/ October 2024 Saudi Arabia is advancing its ambition to become a global leader in artifi cial intelligence through a new partnership between Aramco Digital and Groq, a notable AI semiconductor company. Announced at the Global AI Summit in Riyadh, their generative AI model, ‘Norous’, is set to revolutionise workplace productivity and position the Kingdom as an AI compute hub serving up to 4 billion people across Europe, Africa, and Asia. Jonathan Ross, CEO of Groq, emphasised Saudi Arabia’s strategic impor tance, citing its vast energy resources and dynamic business environment. “Saudi Arabia’s location at the nexus of 4 billion people off ers unparalleled oppor tunities for AI expansion,” he stated. The partnership aims to utilise Groq’s advanced AI chips to power Norous, targeting a processing capacity of 25 million tokens per second by early 2025, with plans to scale up to an impressive 1 billion tokens. Norous is designed to streamline workfl ows by enabling employees to complete tasks using voice commands, eliminating the need to switch between applications. Users can execute tasks seamlessly on a single intelligent platform from creating organisational structures to scheduling meetings. Tareq Amin, CEO of Aramco Digital, highlighted how this hands-free technology will reshape the future of work. In addition to Norous, Aramco Digital has developed NourOS, a custom operating system that operates entirely through natural language commands. This system allows for more intuitive user interaction, enhancing productivity and user experience. Groq’s role is signifi cant, as it provides SAUDI ARABIA AND GROQ TO TRANSFORM AI FOR 4BN PEOPLE the advanced AI chips essential for powering Norous. The company’s language processing units currently handle 544 tokens per second. Ross outlined a vision to expand Saudi Arabia’s computing capabilities to 1 billion tokens per second, potentially transforming the Kingdom into a signifi cant exporter of AI technology. “Once we reach 1 billion tokens, we’ll not only serve Saudi Arabia but also provide AI services to Europe, Africa, and parts of India,” he added. This collaboration aligns with Saudi Arabia’s broader goals under Vision 2030: diversify its economy and become a leader in technology and AI. Investing in technologies and fostering international partnerships, the Kingdom aims to set new standards for AI integration in the workplace and beyond. In partnership with Groq, Aramco Digital introduces Norous, an advanced AI platform designed to transform workplaces in the kingdom Edge_Oct2024_12-15_News_13391026.indd 1230/09/2024 15:38NEWS Edge/ October 2024 13 OpenAI has announced a new series of artifi cial intelligence models, called OpenAI o1, designed to excel in complex tasks by employing deeper reasoning processes. These models represent a signifi cant advancement in AI’s ability to tackle intricate problems in science, mathematics, and coding. The fi rst model in this series, o1-preview, is now available for early access through ChatGPT and OpenAI’s API. While this is a preview release, OpenAI plans frequent updates and improvements as the models evolve. The company is also previewing evaluations for the next update that is currently in development. The o1 series adopts a novel approach by training models to “think” more deeply, similar to how humans approach complex tasks. By spending additional time considering various strategies, these models refi ne their reasoning processes, enabling them to solve more complicated problems. In recent tests, the forthcoming model performed comparably to PhD students in physics, chemistry, and biology. During Codeforces programming competitions, the o1-preview model reached the 89th percentile, demonstrating its ability to eff ectively generate and debug complex code. OpenAI has introduced a new safety approach, leveraging the models’ enhanced reasoning abilities to improve adherence to safety guidelines. This includes better handling of safety rules in context and increased resistance to manipulation attempts known as “jailbreaking”. In one of OpenAI’s toughest jailbreaking tests, the o1-preview model scored 84 out of 100, significantly outperforming GPT-4o’s score of 22. OpenAI has strengthened its internal safety measures to support these OPENAI LAUNCHES O1-MINI advancements, collaborating closely with federal governments and AI Safety Institutes in the US and UK. These institutes have been granted early access to the research version of the model for evaluation, marking a signifi cant step towards responsible AI development. The OpenAI o1 models are intended for users tackling complex problems in healthcare, science, coding, and mathematics. OpenAI has also introduced a smaller, cost- eff ective version called o1-mini, which focuses on coding tasks. Priced at 80% less than the o1-preview model, it off ers developers a powerful yet budget-friendly option. ChatGPT Plus and Team users can access the o1-preview and o1-mini models by selecting them manually. ChatGPT Enterprise and education users will gain access next week, while developers with API tier 5 access can begin prototyping OpenAI also plans to make o1-mini available to all ChatGPT users. Alongside the o1-preview, OpenAI releases a cost-eff ective model focused on coding, off ering advanced reasoning at 80 per cent lower cost Edge_Oct2024_12-15_News_13391026.indd 1330/09/2024 15:38NEWS 14 Edge/ October 2024 Abu Dhabi-backed Cerebras Sy s t e m s h a s s i g n e d a Memorandum of Understanding (MoU) with Aramco, marking a significant step towards enhancing artifi cial intelligence (AI) capabilities in Saudi Arabia. The collaboration aims to bring high-performance AI infrastructure to industries, universities, and enterprises across the kingdom. Aramco plans to leverage Cerebras’ CS-3 systems to build, train, and deploy advanced large language models (LLMs). This move is expected to drive innovation in AI and support the country’s growing digital economy. As part of the agreement, Aramco will integrate Cerebras’ AI systems into its cloud computing operations, accelerating the development of AI applications and LLMs within the kingdom. Nabil Al Nuaim, Aramco’s Senior Vice President of Digital and Information Technology, highlighted the partnership’s signifi cance on Cerebras’ offi cial blog. He stated: “This agreement with Cerebras will accelerate our progress in establishing an AI-powered digital economy in Saudi Arabia. By integrating advanced AI technologies, we aim to unlock new opportunities for the nation and foster the localisation of cutting-edge solutions with regional expertise.” The new AI infrastructure will off er local industries, enterprises, and universities access to Cerebras’ CS-3 systems, enabling them to develop sophisticated LLMs tailored to local business needs. The partnership is poised to advance AI adoption in the region and facilitate the creation of innovative solutions. Andrew Feldman, co-founder and CEO of Cerebras, expressed enthusiasm about the collaboration: “We are honoured to ARAMCO AND CEREBRAS TO BRING AI INFRA IN SAUDI ARABIA collaborate with Aramco in bringing high- performance, low-latency computing and innovative AI applications to local businesses, industries, and educational institutions. Together, we aim to accelerate AI’s potential, enhancing capabilities and unlocking new opportunities to drive creativity, add value, and support regional sustainability.” This collaboration aligns with Saudi A r abi a ’s Vision 2 0 30 initiative, emphasising the nation’s co m m i t m e n t to te c h n o l o g i c a l innovation and digital transformation. The partnership also creates new employment opportunities. B y inves ting in advanced AI technologies and partnering with leaders like Cerebras, the kingdom aims to position itself as a regional hub for research and development in artifi cial intelligence. Through a new MoU, Aramco will leverage Cerebras Systems’ advanced AI infrastructure to create large language models Edge_Oct2024_12-15_News_13391026.indd 1430/09/2024 15:38NEWS Edge/ October 2024 15 Apple Inc. has introduced the iPhone 16, its latest flagship de v i c e , alongside ne w versions of its watches and AirPods. CEO Tim Cook announced that the iPhone 16, engineered “ from the ground up” for artificial intelligence, will be available from 20th September. However, sof t ware updates will introduce these AI capabili ties gradually, as the Apple Intelligence suite will not be included in the initial release. Craig Federighi, Apple’s software head, stated that the f irst set of AI tools will be part of a beta release in October, with more features rolling out over the coming months. The company aims to drive device upgrades by incorporating Apple Intelligence, which will feature an upgraded Siri assistant and allow the creation of custom emojis through text prompts. In addition to the iPhone 16, Apple revealed the new Apple Watch Series 10, featuring a 30 per cent larger screen and sleep apnea detection available in over 150 regions. The watch is thinner than its predecessor and starts at $399, available from 20th September. A higher-end Ultra model will also be released at $799. Apple introduced updated AirPods with a smaller case and USB - C charging, including a mid - range version with noise cancellation at $179 and new AirPods Max headphones at $549. A software update later this autumn will add new features like hearing aid functionality to existing AirPods. Despite emphasising AI throughout the prese n ta tion, mu ch of the technology is still developing, with iPHONE 16 DEBUTS WITH AI FOCUS critical features not expected until next year. Apple’s stock dipped during the event but recovered, a typical response when most new features are reported in advance. The iPhone 16 received minor updates, including new colours, a customisable Action button, a more powerful chip, and improved cameras. Pro models feature slightly larger displays and are powered by the A18 Pro processor with enhanced AI capabilities. Apple is striving to gain momentum in the generative AI race, where competitors like Google and Microsoft have already made significant strides. However, the gradual introduction o f A p p l e I n te l l i g e n ce a i m s to revolutionise user interaction with devices, offering more personalised and intuitive experiences. Apple Aims to Catch Up in the AI Race Edge_Oct2024_12-15_News_13391026.indd 1530/09/2024 15:38OPINION 16 Edge/ October 2024 Artifi cial intelligence now mimics human perception, communication, and creation, breaking down long- standing barriers to adoption. The UAE, the fi rst country to establish a dedicated AI ministry, exemplifi es this transformation. Early initiatives like DEWA’s smart electricity grids and customer service chatbots set the stage for AI integration, prompting various sectors to follow with mixed results. To identify what distinguishes AI Pacesetters or trendsetters, ServiceNow collaborated with Oxford Economics to survey 4,470 executives globally, aiming to assess AI deployment strategies. The findings, detailed in the ServiceNow Enterprise AI Maturity Index, reveal that while AI adoption is still evolving, The survey outlined fi ve key pillars of Among Pacesetters, 67% reported clear visibility into AI deployment, compared to 33% of other organisations. Unlike those who try to force AI into existing frameworks, AI trendsetters are open to letting AI reshape their organisations THE AI MATURITY BLUEPRINT Learnings from those who are setting the pace AI Words by Fabio Spoletini, Group Vice President – South EMEA, ServiceNow AI maturity: AI strategy and leadership, workfl ow integration, talent and workforce, AI governance, and realising value. Here’s how trendsetters excel in these areas: AI Strategy and Leadership Eff ective leadership is vital for AI success. Among Pacesetters or Trensetters, 67 per cent reported clear visibility into AI deployment, compared to 33 per cent of other organisations. Additionally, 65 per cent of Pacesetters have a unifi ed AI vision for business transformation, while only 31 per cent of others share this clarity. Workfl ow Integration Unlike those who try to force AI into existing frameworks, trendsetters are open to letting AI reshape their organisations. This approach is particularly evident in breaking down silos and adopting AI for data management, visualisation, and transformation, areas embraced by 76 per cent of trendsetters compared to 42 per cent of others. Talent and Workforce In the GCC, AI talent is scarce, requiring a mix of external hiring and internal upskilling. Trendsetters prioritise roles like AI confi gurators and data scientists and focus on developing their workforce through reskilling programmes and training. AI Governance Trendsetters understand that robust governance frameworks are essential for mitigating risks and ensuring data quality. They have advanced in data governance, privacy compliance, and establishing AI- specific policies, outperforming other organisations in safeguarding sensitive data and maintaining compliance. Realising Value They invest heavily in AI, focusing on tangible business outcomes such as increased effi ciency, revenue growth, and cost reduction. OPINION Edge_Oct2024_16_Opinion_13380918.indd 1630/09/2024 15:39OPINION Edge/ October 2024 17 Ah, remote work. The siren song of the pandemic, and ultimate dream of office drones everywhere. Back during the COVID-days, every executive with a pulse and a LinkedIn account was extolling the virtues of this brave new world of Zoom meetings in pajamas, and the blissful absence of a daily commute. It was supposed to be the future, wasn’t it? A future where work was measured not by how long you sit at a desk, but by what you actually did that day. Finally, humanity had broken free from the shackles of the nine to fi ve daily grind. Or so we thought. Just a few short years later, and the dream of working from home has truly gone awry. Companies that once loudly proclaimed the death of the offi ce are now issuing return- to-work orders, like parents calling children inside for spending too much time outside having fun. But it’s not exactly a surprise, is it? For all our talk of progress, deep down we knew remote work was too good to be true, at least for most of us. So whatever happened to the work-from- home dream? How did we go from breathing a collective sigh of relief as offi ce doors closed, to reluctantly shuffl ing back to our desks. The answer is, as always, both simple and deeply disappointing: money and control. Let’s start with money. It’s no secret that the corporate world exists to maximise profi t, and remote work, initially touted as a cost-saving miracle, has hidden expenses. Yes, companies could shut down expensive offi ce spaces and cut back on in-offi ce perks. But what about the price of monitoring? When employees are scattered across the globe, it becomes harder to keep track of who’s actually doing what. Productivity is harder to quantify, creativity supposedly suff ers, and there’s an uneasy suspicion that some employees are spending a little For some, especially the old guard, the idea of not seeing your employees every day is as unsettling as driving a car without a steering wheel THE REMOTE WORK DREAM THAT NEVER WOKE UP We thought remote work was the future. It turns out, we were wrong too much time on the sofa and not enough on spreadsheets. Corporate executives – like all good captains – want to be able to see the ship from the deck. That’s why remote work made them nervous. After all, how can you trust the crew when you can’t even see them. Hence, the gradual and often passive-aggressive push to get everyone back in the offi ce, usually under the guise of ‘building team spirit’ or ‘fostering creativity’. But let’s be honest, it’s about control, and making sure everyone’s on deck, visible and accounted for. But control is only half the story. The other half lies in the peculiar psychology of work culture. For decades, we’ve been conditioned to equate long hours and physical presence with dedication and success. Remote work challenged that notion, and the backlash was inevitable. For some, especially the old guard, the idea of not seeing your employees every day is as unsettling as driving a car without a steering wheel. It’s no wonder that many companies have backtracked on their work-from-home promises as soon as the pandemic began to wane. Old habits die hard, and the corporate world, for all its talk of innovation, is more conservative than it likes to admit. And so, the dream of a fully remote workforce has been quietly shelved, replaced by a grim hybrid reality where most people are expected to show their faces in the offi ce a few days a week. The technology that promised to liberate us is still there, of course, but the will to use it is not. Instead, we’ve settled into an uncomfortable compromise - neither here nor there, caught between the freedom of the home offi ce and the constraints of the corporate one. It turns out we were given a fl eeting glimpse of a brighter future, only to have it slip through our fi ngers when the alarm clock rang. Now, as we groggily drag ourselves back to the offi ce each morning, we can’t help but wonder if that better world was ever real - or just like a dream you can barely remember when you wake up, leaving behind only a vague sense of something better that you can’t quite grasp. Edge_Oct2024_17_Working from Home_13378793.indd 1730/09/2024 15:40FEATURE 18 Edge/ October 2024 206% increase compared to previous month last year. Close to 38 startups benefi tted from these investments, with the UAE leading the way with 12 deals, followed by Egypt and Saudi Arabia, each securing seven investments, and Jordan with six. Regarding investment value, Egypt emerged as the frontrunner, with seven deals generating $185 million, a remarkable leap from the previous month’s $15 million spread across four deals. The fi ntech sector remained the top choice for investors, drawing $180.8 million, while Web 3 followed with $85 million, cleantech secured $37 Startup funding in the Middle East and North Africa (MENA) region saw a signifi cant resurgence in July 2024, with investments rising by over 200 per cent. Data from Wamda and Digital Digest shows that regional startups secured $355 million during the month, marking a 206 per cent increase compared to the previous month and a 260 per cent rise from the same period MENA TECH SECTOR STANDS RESILIENT Startups attracted $335 million across funding rounds Words by Sindhu V Kashyap BUSINESS Edge_Oct2024_18-19_Feature_13381644.indd 1830/09/2024 15:41FEATURE Edge/ October 2024 19 $335 Million funding in July Despite global economic challenges, the MENA tech sector demonstrated considerable resilience as compared with its global counterparts million, and deep tech and e-commerce attracted $20 million and $15.7 million, respectively. Despite global economic and geopolitical challenges, the MENA tech sector demonstrated considerable resilience, further supported by the anticipated Fed rate cut in September, which renewed hopes for increased cash fl ow into global markets. Debt fi nancing accounted for less than one per cent of total investments last month, suggesting that the investment slump seen earlier in the year may be easing. Though there were roadblocks, Egypt’s startups secured the highest funding in the region, with $157.5 million of the $185 million raised coming from a single transaction by MNT-Halan. This marked a signifi cant improvement from the $15 million raised through four deals last month. The UAE followed closely, with $96 million invested in 12 start- ups. In contrast, Saudi Arabia saw a sharp decline in investment, securing just $31 million across seven deals, placing it fourth behind Oman, which secured $37 million thanks to a single deal by 44.01. Fintech remained the most attractive sector for investors, drawing $181 million across 16 startups. Web 3 followed with $85 million invested in two startups, while deeptech and cleantech climbed to third and fourth positions due to signifi cant investments in 44.01 and Intelmatix. Although e-commerce did not lead in investment value, it maintained a substantial deal volume, with six start- ups raising $15.7 million. Notably, late-stage investments were absent in July, with early-stage start-ups receiving the most attention from investors. Seed-stage start-ups raised $96 million across eight deals, while Series A garnered $91.7 million. Meanwhile, fi ve pre-seed start-ups secured only $1.8 million. The business-to-business (B2B) model continued to dominate, attracting $345 million across 27 companies. In contrast, nine business-to-consumer (B2C) startups raised nearly $8 million, while two B2B2C startups secured the remainder. However, gender disparities in funding persisted, with only two female-led start-ups raising $270,000 in July. Four start-ups co- founded by male and female entrepreneurs secured $20.5 million, while male-led start- ups raised the remaining funds. July also saw some merger and acquisition (M&A) activity, particularly within the UAE. Notable deals included the acquisition of BitOasis by the India- based crypto exchange company CoinDCX. Additionally, Power League Gaming was acquired by Muller & Phipps Middle East Group, and Lableb acquired Majarra. The business-to-business (B2B) model continued to dominate, attracting $345 million across 27 companies. In contrast, nine business- to-consumer (B2C) start-ups raised nearly $8 million, while two B2B2C startups secured the remainder. Edge_Oct2024_18-19_Feature_13381644.indd 1930/09/2024 15:41Next >