The World Economic Forum and the Bahrain Economic Development Board (EDB) have selected the 100 most promising Arab start-ups of 2019. This initiative aims to further integrate the Arab world’s most promising start-up entrepreneurs into a national and regional dialogue on pressing challenges. Selected entrepreneurs will participate in the official programme of the upcoming World Economic Forum on the Middle East and North Africa where they will engage with industry and government leaders to discuss the future of their industries and how to add value to society.
“The Arab world will need its private sector to address youth
unemployment, the current skills gap for the Fourth Industrial Revolution and
the inclusion of women in the workforce. Start-ups, and the entrepreneurs
building them, are key to a strategic public-private dialogue on these issues
and to creating corresponding new opportunities in society,” said Mirek Dusek,
Deputy Head of the Centre for Geopolitical and Regional Affairs, Member of the
Executive Committee, World Economic Forum.
Among the selected start-ups are: the world’s first halal investment platform (Wahed, UAE); a biotech company that uses camel milk to develop antibodies (MonoJo, Jordan); a company that uses augmented reality for surgeons to contribute remotely to clinical procedures (Proximie, Lebanon); an app that reinvents public transport with fixed fares and booking (Swvl, Egypt); a platform to meet fellow football players and book pitches (Malaem, Bahrain); a production company shaping its country’s cultural landscape (Akkasa, Oman); a bracelet that detects epilepsy seizures and sends alerts to care-givers (Epilert, Tunisia); the first coding booth camps for the Arab world (Coded, Kuwait); an app for civic engagement (Clean City M3kod, Morocco); and a company conducting a range of mapping including that of cultural heritage sites with autonomous drones (FalconViz, Saudi Arabia).
“Across the Middle East, entrepreneurs are devising increasingly innovative ways to tackle the evolving societal challenges of the Fourth Industrial Revolution with novel applications of technology. These efforts need to be encouraged, recognized and supported by investors, business leaders and policy-makers. The 100 Arab start-ups initiative is not just a platform for recognizing promise but a way to bring great minds together to discuss the limitless possibilities of the Fourth Industrial Revolution and the next breakthroughs that the regional ecosystem can deliver. The Bahrain Economic Development Board (EDB) is proud to partner with the World Economic Forum on the search for the 100 Arab start-ups shaping the future,” said Khalid Al Rumaihi, Chief Executive of the EDB.
The initiative welcomed back start-ups selected in 2017, including: Elves (Egypt), an AI concierge service; Daraty (Syria), a toolkit for children to learn electronics; and Careem (UAE), the Arab world’s first unicorn company recently sold for $3.1 billion.
With a 31% increase in investments compared to 2017, a new record was reached for regional start-up funding last year, according to data from Magnitt, a company twice selected among the 100 Arab start-ups initiative. Foreign investment remained stable in 2018 with 30% from outside the Arab world, while fintech took over e-commerce as the top industry as a result of an 8% increase in deals since 2017.
A selection committee of experts on the start-ups ecosystem in the region worked with the World Economic Forum and the EDB to screen and select the 100 start-ups.
· Abdulrahman Tarabzouni, Chief Executive Officer and Managing Director, Saudi Technology Ventures (STV)
· Ahmed El Alfi, Founder and Chairman, Sawari Ventures
· Amir Farha, Co-Founder and Managing Director, Beco Capital
· Areije Al Shakar, Director and Fund Manager, Al Waha Venture Capital Fund; Senior Vice-President, Bahrain Development Bank
· Hala Fadel, Founder and Managing Partner, Leap Ventures
· Khaled Talhouni, Managing Partner, Wamda Capital
· Mirek Dusek, Deputy Head of the Centre for Geopolitical and Regional Affairs, Member of the Executive Committee, World Economic Forum
About the meeting
With the full support and presence of Their Majesties King Abdullah II and Queen Rania Al Abdullah, the meeting will convene over 1,000 key leaders from government, business and civil society, as well as leaders from Gulf Cooperation Council countries, the Levant and North Africa, and key international stakeholders from East Africa, Europe and the United States. Building on the Forum’s Annual Meeting in January in Davos-Klosters and its theme of Globalization 4.0, the World Economic Forum on the Middle East and North Africa will take place under the theme, Building Platforms of Cooperation.
Artificial intelligence: Tackling the risks for consumers
Artificial intelligence and automated decision making processes can pose certain threats to consumers. Find out how the European Parliament wants to protect them.
What is artificial intelligence and why
can it be dangerous?
As learning algorithms can process data sets with precision and speed beyond human capacity, artificial intelligence (AI) applications have become increasingly common in finance, healthcare, education, the legal system and beyond. However, reliance on AI also carries risks, especially where decisions are made without human oversight. Machine learning relies on pattern-recognition within datasets. Problems arise when the available data reflects societal bias.
Artificial Intelligence in decision-making processes
AI is increasingly involved in algorithmic
decision systems. In many situations, the impact of the decision on people can
be significant, such as access to credit, employment, medical treatment, or
judicial sentences. Automated decision-making can therefore perpetuate social
divides. For example, some hiring algorithms have been found to be biased
How to protect consumers in the era of AI
The development of AI and automated decision-making processes also presents challenges for consumer trust and welfare. When consumers are interacting with such a system, they should be properly informed about how it functions.
The position of the Parliament
In a resolution adopted on 23 January, the internal market and consumer protection committee urges the European Commission to examine whether additional measures are necessary in order to guarantee a strong set of rights to protect consumers in the context of AI and automated decision-making.
to make sure that consumer protection and trust is ensured, that the EU’s rules
on safety and liability for products and services are fit for purpose in the
digital age,” said German Greens/EFA member Petra De
Sutter., chair of the internal market and
consumer protection committee.
MEPs will vote on the resolution in mid February. After that it will be transmitted to the Council and the Commission. The Commission should present its plans for a European approach to AI on 19 February.
APEC Advances Digitization of the APEC Business Travel Card
Officials from APEC member economies break new ground in digitizing the APEC Business Travel Card scheme, seeking to modernize the process and make it easier for cardholders in the region to travel with the development of a mobile application.
The APEC Business Travel Card (ABTC) scheme facilitates short-term business travel within the APEC economies by streamlining the entry process at ports of entry within the region. Approved applicants are issued with a card that serves as the entry authority to fully participating economies.
“We continuously seek to improve the system and make it easier and more secure for cardholders to travel around the region,” said Kimberlee Stamatis, Convenor of the APEC Business Mobility Group who oversees the scheme.
The mobile application will include security features such as user verification, the use of watermarks and disabling of screenshots within the mobile application to ensure authenticity of the cardholder.
“Additional security features for the mobile application further hinder fraudulent replication and misuse, and protect the personal details of APEC Business Travel Card holders,” she added.
Additionally, the mobile application will provide cardholders and airport officers real-time information on the status of the travel card. Cached information will also be accessible for a period, in the event that the holder is not able to go online while they are traveling.
“The service will be offered to new applicants from fully participating economies, and we are exploring ways to enable existing cardholders to request the mobile application when they apply for a card renewal, which is required every five years,” Stamatis explained.
Further discussions are underway to ensure that the mobile application caters to the needs of both cardholders and airport officials. The APEC Business Mobility Group will work on the pilot version of the application with the expectation to launch it in November 2020, during APEC Economic Leaders’ Week in Malaysia.
Depending on member economies’ preference for either the mobile application or physical card, the service is expected to be ready for use in early 2021.
Nineteen APEC economies are fully participating members to the ABTC scheme: Australia; Brunei Darussalam; Chile; China; Hong Kong, China; Indonesia; Japan; Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; the Philippines; the Russian Federation; Singapore; Chinese Taipei; Thailand; and Viet Nam; Canada and the United States are transitional members.
Transitional members’ cardholders will not be able to use the mobile application, however, their existing processes will remain unchanged.
The APEC Business Travel Card scheme reduces travel costs between APEC economies by 38 percent. Businesses pay 27 percent less in application fees and 52 percent less in immigration processing.
Preparing Dushanbe for a New Digital Era
“Preparing Dushanbe for a New Digital Era” was the theme of a workshop held on February 4th and hosted jointly by the Government of the Republic of Tajikistan, the Hukumat of Dushanbe City, the State Unitary Enterprise (SUE), “Smart City Dushanbe” under the Hukumat of Dushanbe City, and the World Bank. Participants included leading Korean experts in the field of digital transformation and smart cities, as well as high-level Government representatives of the Republic of Tajikistan, development partners, the private sector, and civil society.
“Living in the era of digital transformation has many benefits and challenges. As this is a high priority for us, we are expanding our work with development partners on digital transformation. South Korea is the first country that comes to mind as an example of best practices and expertise in the deployment of smart cities and the ability to increase the vitality of urban areas. For us, Korea’s experience gained during almost three decades of building smart cities is extremely valuable,” said Yusuf Majidi, Deputy Minister of Finance of Tajikistan.
Smart city technologies allow city officials to interact directly with both the community and city infrastructure, and to monitor what is happening in the city and how it is evolving. ICT is used to enhance the quality, performance, and interactivity of urban services, reduce costs and resource consumption, and increase interaction with citizens. Smart city applications allow for better management of urban flows and enable real-time responses. In doing so, a “smart city” increases the efficiency of public services provided by city authorities, uses scarce resources more effectively, and improves citizens’ quality of life.
“In this process, the Government is an enabler and a regulator, but digital transformation and smart cities can only be delivered with the active participation of the private sector, and by ensuring tangible benefits for the private sector,” added Jan-Peter Olters, World Bank Country Manager in Tajikistan.
The keynote speaker was Dr. Jong-Sung Hwang, Master Planner, Busan National Pilot Smart City, and Lead Researcher at the National Information Society Agency (former Chief Information Officer of Seoul), who shared the Republic of Korea’s extensive experience in developing smart cities. Oleg Petrov, Senior Digital Development Specialist at the World Bank, provided an update on the proposed Digital CASA Tajikistan project and its role in supporting the Government to build the foundations for a digital economy and the “Smart City Dushanbe” initiative.
This event was a key milestone in developing the Smart City initiative in Tajikistan, a key element of the Digital Economy 2040 Concept and Digital CASA Tajikistan Project. The World Bank confirmed its commitment to providing support to Tajikistan in building the required infrastructure to increase Internet bandwidth and speed, support the required adjustment and modernization of the institutional telecommunications environment, and develop the most critical applications aimed at increasing the efficiency and transparency of public services.
European Commission presents strategies for data and Artificial Intelligence
Today, the Commission unveils its ideas and actions for a digital transformation that works for all, reflecting the best of...
New toolkit to help countries switch to climate-smart urbanization
The United Nations Environment Programme (UNEP), the United Nations Framework Convention on Climate Change secretariat, and the Commonwealth Secretariat, in...
Hope for ‘long-elusive progress’ in negotiating peace in eastern Ukraine
Marking the fifth anniversary of the 2015 Minsk II agreement, the UN political chief told the Security Council on Tuesday,...
Vietnam as ASEAN Chair and UNSC non-Permanent Member
Vietnam took the charge as ASEAN chair from its predecessor Thailand in November 2019, and the agenda for the year...
Russia-Indonesia: 70 years of friendship
“Jauh di mata, dekat di hati [Out of sight, close to the heart].” This is how Lyudmila Georgievna Vorobieva, Russian ambassador...
JW Marriott Debuts in Oman’s Historic Capital
JW Marriott announced the opening of JW Marriott Muscat today, setting the stage for distinctive experiences in Oman’s historic capital....
Kartarpur Corridor: Sikh Soft Power
Ever since the inauguration of the Kartarpur Corridor, three months ago, in November 2019, it has drawn the attention of...
Hotels & Resorts3 days ago
The Ben, The First Waterfront Hotel in Downtown West Palm Beach
Americas2 days ago
Trump Plans to Keep U.S. Troops Permanently in Iraq
International Law2 days ago
Russia’s Ambivalent Position in International Law: A Civilizational Narrative
Americas3 days ago
Trump impeachment failure: What is in store for America and the world?
East Asia3 days ago
The current relations between the United States and the Democratic People’s Republic of Korea
Newsdesk3 days ago
Year-old peace agreement must be implemented for ‘lasting peace’ in Central African Republic
Intelligence2 days ago
Modi’s extremism: Implications for South Asia
East Asia2 days ago
China is not alone in fighting against the Coronavirus epidemic