Mert Kapsiz

The recent collaboration and partnership between Microsoft and G42 are paving the way for numerous positive advancements in the UAE. Here's why it matters: 1️⃣ Boost for AI Industry and Innovation: - Microsoft's monumental $1.5 billion investment in G42, a prominent UAE AI company, signals a significant uplift for the nation's AI sector. - This infusion of capital is poised to ignite further research and development (R&D) initiatives in AI across the UAE, propelling the creation of cutting-edge AI solutions. 2️⃣ Potential for Regional AI Leadership: - Beyond the UAE, the collaboration aims to develop solutions catering to the entire Middle East, Central Asia, and Africa. This positions the UAE as a frontrunner in AI development and deployment for the region. 3️⃣ Responsible AI Development: - Emphasis on adhering to international regulations for responsible AI development underscores the commitment to implementing these solutions ethically and securely, fostering trust and widespread adoption. 4️⃣ Increased Investment and Job Creation: - The combined expertise of Microsoft and G42 is poised to attract further investment in the UAE's tech sector, potentially leading to the creation of numerous new jobs and opportunities for skilled professionals. 5️⃣ Global Recognition: - This high-profile partnership with Microsoft shines a spotlight on the UAE's prowess in AI, garnering global recognition and positioning it as a burgeoning tech hub. In essence, this partnership solidifies the UAE's standing as a major contender in the global AI landscape and has the potential to catapult its technological advancement to new heights. 🌟 #AI #TechInnovation #UAELeadership

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👀 What’s attracting global investors to MENA? This week, Amer Al Bulbul from our Account Management team dives into the latest trend of international investors gravitating toward leading MENA markets. MAGNiTT’s data reveals a remarkable 75% YoY surge in global investors participating in MENA during H1 2024. So, what’s driving this momentum? 🇦🇪 🇸🇦 The UAE and Saudi Arabia are at the forefront, emerging as the top destinations for international investors. With their maturing VC ecosystems and investor-friendly policies, these two powerhouses attracted 80% of all international investors in MENA during the first half of 2024. The UAE, in particular, has solidified its position as MENA’s tech hub, drawing significant global interest. In H1 2024, international investors made up 57% of the total investor base in the UAE. Leading the charge in investments are 500 Global from the US and Singapore’s Antler, but they aren’t the only players. H1 2024 also saw new entrants like India’s Cogitent Ventures, the UK’s Quadri Ventures, and Denmark’s A.P. Moller - Maersk making their first investments in the region. Check out our latest article to know more about this trend and the road ahead: https://lnkd.in/dxqJ9iXR How do you think Venture will pan out in MENA in H2? Love to hear from you 👇 #MENA #VentureCapital #Startups #GlobalInvestors #UAE #SaudiArabia #InvestmentTrends

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Wamda ومضة recently released the MENA startup funding update for H1 2024 and here are the updates 👇 The first half of 2024 has seen significant shifts in the MENA startup funding landscape. Total funding reached $882 million, marking a 46% decrease from H1 2023. Despite this overall decline, Q2 2024 showed signs of recovery with a 5% increase from Q1, raising $453 million. Key highlights: ✨ $116 million raised across 38 deals in June 2024 ✨ UAE leads with $455.5 million in total funding ✨ Saudi Arabia follows with $300 million ✨ Egypt experiences a sharp decline, raising only $83 million so far The sector dynamics have evolved, with proptech emerging as the top-funded sector at $200 million, overtaking the traditionally dominant fintech sector, which raised $156 million. SaaS startups have also gained significant traction, securing $164 million across 23 deals. Investment stages and business models show interesting trends: 🚀 Series A rounds dominated, raising $169 million across 17 deals 🚀 Seed stage remains attractive, with $131 million raised over 52 deals 🚀 B2B model surges by 153% YoY, reaching $473 million 🚀 B2C model declines by 64% YoY, settling at $356 million A concerning trend persists in the gender gap of funding. Female-led startups raised only $1.8 million across 15 deals, while male-led startups secured $760 million across 170 deals, highlighting a significant disparity in the ecosystem. The investor landscape sees Saudi and UAE-based VCs leading regional investments, with US and UK firms topping foreign investors. RZM Investment and Hope Ventures emerged as the most active investors, each participating in 7 deals. Looking ahead, despite the H1 slowdown, there's optimism for Q3. Several new VC funds have launched, with billions pledged for MENA tech investments, potentially signaling a more robust second half of the year for the region's startup ecosystem. #MENAStartups #VentureCapital #TechInvestment #StartupFunding https://lnkd.in/daStCCvS

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In May 2024, MENA startups secured a record $282 million, a 413% increase from April. 🌍 UAE startups led with $189M, followed by Saudi Arabia and Egypt. 🏢 Proptech was the standout sector, attracting $167.2M due to: - Rapid Urban Development: The burgeoning real estate market. - Government Initiatives: Investments in digital transformation and smart cities. - Technological Advancements: Integration of VR, AI, IoT, and smart home tech. 💼 Debt financing contributed nearly $140M. 🚀 Late-stage rounds and female-led startups saw significant activity. #MENAStartups #VentureCapital #TechInnovation #StartupFunding #Entrepreneurship #MENA #gulf #innovation #IOT #AI

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How can first principles thinking transform the MENA region? Back in 2008, Brian Chesky and the Airbnb team pitched their vision to seven top venture capitalists, asking for $150,000 in exchange for 10% of their company. Every single one of them said no. Some doubted the market potential, while others weren’t interested in travel. Fast forward to today, and Airbnb is valued at $72.77 billion. This isn’t just a story of missed opportunities—it’s a masterclass in why conviction and a fundamental approach are essential for breakthrough success. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗽𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴? It means breaking a problem down to its most basic truths and solving it from there. It’s not about incremental improvements but about creating something entirely new. Airbnb didn’t just disrupt the travel industry—they redefined it. They didn’t accept the status quo but built a new market for short-term rentals from scratch. Many VCs didn’t see the potential because they weren’t looking at the fundamentals. 𝗪𝗵𝘆 𝘁𝗵𝗶𝘀 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: Investing in safe, copycat products typically restricts potential returns, generally constrained by acquisition opportunities. Big wins come from embracing bold, original ideas. 𝗔𝗽𝗽𝗹𝘆𝗶𝗻𝗴 t𝗵𝗶𝘀 𝘁𝗼 𝗠𝗘𝗡𝗔: > For MENA entrepreneurs, the message is clear: don’t just follow trends—create them.  > For VC investors, Sequoia Capital didn't hit it big by playing it safe! The region’s unique challenges and opportunities call for innovative solutions. By focusing on core problems and applying first principles thinking, MENA startups can develop unique products that truly stand out. Here’s what to focus on: → Address a painfully underserved problem → Understand and cater to niche needs → Pursue bold, transformative ideas → Build a strong local base first So, what unique challenges are you ready to tackle with a fundamental approach? #MENA #Startup #Founder

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The amount invested in MENA startups in H1 2024 recorded $882 million, down from the $1.6 billion raised in the same period in 2023. However, when excluding the $644 million of debt financing in H1 2023, the decline drops to 12%. Those are some of the phenomena we noticed when monitoring the investment trends: - The #UAE retained its spot as the top funded ecosystem. - Most investments in H1 were provided by #Saudi investors, contributing to 60 deals across the MENA region, followed by UAE-based VCs, 41 deals, then Egyptian VCs, 24 rounds. - Proptech emerged as the top funded sector, attracting $200 million across 14 deals, replacing fintech, which managed to raise $156 million across 50 deals.  - Debt financing formed 17% of the total funding. - Majority of investment went to startups at their Series A stage, with $169 million raised across 17 rounds. - Seed stage startups remain the top funded when it comes to investment volume, as investors financed 52 Seed rounds with $131 million in H1. - B2C businesses were hit hard this year, raising $356 million across 86 deals, a 64% decline from the previous year. On the other hand, B2B surged by a staggering 153%, going from $186.6 million in H1 2023 to $473 million in 2024. Read the full breakdown of MENA investment landscape in H1 2024 at Wamda ومضة Fadi Ghandour

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🔍 Investors shift focus to early stage across MENA in H1 2024! 📊 Throughout H1’24, we’ve observed a significant shift in investor focus towards #seed and pre-#SeriesA deals. Notably, $1M-$5M round sizes in the MENA region have surged, tripling from 15% in 2020 to 45% in H1'24. Learn more in the full #MENA #H1report: https://lnkd.in/dXREk8hd The $5M-$20M round size in MENA has also increased to 14% in H1'24 from 10% in 2022, mirroring trends in #Africa and #SEA. However, big-ticket investments in the $20M+ range have declined, dropping to 3% in H1'24 from 4% in H1'23. 📉 Key drivers of this trend: - Valuations return to pre-pandemic levels, more attractive for investors. - Early-stage companies are now focusing on unit economics. - Time to exit coincides with a likely upswing in VC liquidity in the next 6-7 yrs. While there's a conservative stance on major tickets amid the slowdown, activity is definitely brewing in smaller to mid-size rounds! Have you been hearing the same on the street? Share your insights below! 👇 #fundinground #VC #venturecapital #investments #H1trends

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🚀 The Rise of #3PL in #SaudiArabia: Transforming Conglomerates into Logistics Powerhouses Saudi Arabia’s logistics industry is rapidly growing, driven by #Vision2030 and Saudi Arabia FIFA World Cup™️ 2034 bid. A notable trend in this evolution is how large #conglomerates have turned their internal logistics departments into fully operational third-party logistics (3PL) companies, serving both their internal needs and external customers across various sectors. Tamer Logistics Founded in 2011 by the Tamer Group, Tamer Logistics was initially designed to manage the group's healthcare and FMCG logistics needs. Today, it operates as a key player in Saudi Arabia’s 3PL market, offering services like customs clearance, warehousing, transportation, and value-added services. With 12 warehousing facilities in 7 major cities, Tamer Logistics has become an essential partner for multinational companies, acting as an extension of their logistics operations​ Flow Progressive Logistics Established in 2014, Flow Progressive Logistics began as the logistics arm of Al-Ittihad and has grown into a comprehensive 3PL provider across Saudi Arabia, the UAE, and Bahrain. Flow specializes in freight forwarding, customs clearance, and warehousing, and is particularly known for its advanced digital solutions, which include real-time tracking and inventory management. Flow's aggressive expansion and integration with global networks align with Saudi Arabia’s ambitions of becoming a global logistics hub.​ Arrow Food Group Arrow Group has similarly transitioned from managing its internal logistics operations to becoming a 3PL provider in Saudi Arabia. Focusing on industries such as retail and consumer goods, Arrow offers tailored solutions that streamline distribution and warehousing for its clients. The company's deep understanding of logistics enables it to serve both large-scale internal operations and external businesses. Emirates Logistics L.L.C As part of the Sharaf Group, Emirates Logistics offers a wide range of logistics services across the GCC, including Saudi Arabia. Emirates Logistics provides tailored solutions to the automotive and heavy machinery sectors, handling warehousing, transportation, and freight forwarding for companies that require highly efficient and reliable logistics operations​ These companies demonstrate how Saudi conglomerates are leveraging their logistics expertise to create value both internally and for external customers. As these 3PL providers integrate advanced technologies such as top-notch #WMS and #TMS, they are becoming pivotal to Saudi Arabia’s journey toward becoming a regional logistics hub. At Freterium, we strongly believe in the success of Saudi Arabia's logistics sector. We are fully committed to supporting this growth by providing our expertise and ensuring we serve our customers in Saudi Arabia to the best of our ability. #logistics #3PL #SaudiArabia #Vision2030 #supplychain #Freterium

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Checkout.com State of Digital Commerce in MENA report 2024 is here 📑 🌍 Over the last 48 months, the MENA region has witnessed an unprecedented surge in digital commerce. This new report tells a story of rapid and sustainable growth, while also highlighting the underlying dynamics driving change in the region’s economy. Explore the digital commerce trends shaping the region and uncover actionable insights to help you thrive in MENA 👇

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Sahl AI offices are inside a hospital. Many will agree with our decision, while others may question it. Dr Umair Khan PhD and I had the opportunity to get an office in a prime, upscale area of Riyadh, right in the middle of all the action, thanks to an incubator program. Easy access, central location, great for making an impression. But we chose a different path. Instead, we set up our office inside a hospital to stay close to the people who actually use our product. And since then, things have taken off: Our office is constantly filled with medical doctors, providing real-time feedback. Product usage is climbing with each quick iteration, and we’re always just a 5-minute walk away from solving any technical issues that arise. I genuinely believe that our proximity to users and high speed of execution are the key factors that will get us through Act 1 of our startup journey. As always, I ask you all to keep us in your du'as. *** If you're interested in joining us in our mission to simplify healthcare, let's talk.

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In Saudi Arabia, we’re witnessing a surge in fintech startups, driven by a young, tech-savvy population and a supportive regulatory environment. The future of fintech in Saudi Arabia holds huge potential to be truly transformative. As part of #Vision2030, the country wants to establish at least 525 fintech companies and create 18,000 fintech job opportunities. Last year the number of people estimated to be working in the Kingdom’s fintech sector amounted to 5,400. One of the most significant developments in this space is the rise of Buy Now, Pay Later (BNPL) services. These fintech solutions are gaining popularity in Saudi Arabia, offering consumers more flexibility in managing their finances. #BNPL services are particularly appealing to younger generations who prefer cashless transactions and are looking for convenient, interest-free payment options. This shift in consumer behavior is pushing traditional financial institutions to adapt and innovate, ensuring they remain relevant in a market that is increasingly dynamic. Many start-ups are emerging in the sector offering solutions which enhance customer experience and also offer traditional banking solutions. It’s an exciting space to watch and be part of. https://lnkd.in/dVCAHhzt #Fintech #FinancialInnovation #SaudiArabia #DigitalEconomy #Vision2030

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🚀 Tech Insights with Alaa Badokhon, a Saudi Innovator and Founder 🚀 In this episode, I interview Alaa Badokhon a young and inspiring Saudi CEO, innovator, and leader in computer engineering, IoT, AI, and cybersecurity. 🌐 Episode Highlights: Career Journey 🎓: Alaa shares his path from an early interest in computers to a degree in computer engineering at King Abdulaziz City for Science and Technology (KACST) and advanced studies at Case Western Reserve University. AI and Chatbots 🤖: We explore AI's potential to replace traditional podcasts, advancements in AI technology, and the implications of Artificial General Intelligence (AGI). Quantum Computing 🧠: Alaa explains quantum computing's role in enabling AGI, its fundamentals, and future breakthroughs. Cybersecurity🛡️: Alaa offers insights into current internet security and advice on protecting private data on social media. KSA’s Digital Innovations 🌍: Alaa discusses digital innovations in Saudi Arabia, the role of IoT and AI in economic diversification, and fostering a startup ecosystem. Future of IoT and AI 🚗: Alaa looks into the future impact of IoT and AI on urban transportation, autonomous vehicles, and smart cities. Balancing Innovation and Security ⚖️: Alaa emphasizes the need to balance innovation with security measures in technology development. Founding 4DOTs 🚀: Alaa talks about founding 4DOTs to solve mobility issues in Riyadh, focusing on smart parking and journey planning. Advice for Young Professionals🌟: Alaa offers advice for young professionals entering IoT, AI, and cybersecurity, highlighting the importance of understanding market trends and staying adaptable. Conclusion: Thanking Alaa for his insights, I look forward to future collaborations. Stay tuned for more episodes of Tech Insights! Watch the full video here: https://lnkd.in/eSeavEge Check out these shorts: 🤖 AI and IoT hugely affecting the market 🤖 https://lnkd.in/eiDd8Rr5 📶 97% of Riyadh had 5G coverage in 2022! 📶 https://lnkd.in/e3VM6f-z ⚛️ We have to adapt to super fast Quantum Computing ⚛️ https://lnkd.in/e5wCGV43 😂 Alexa and Siri pranking each other 😂 https://lnkd.in/e5Dn8NSR 🌟 Advice for Young Professionals in Technology 🌟 https://lnkd.in/e7sfjbW4 #TechInsights, #AlaaBadokhon, #Innovation, #AI, #IoT, #Cybersecurity, #QuantumComputing, #DigitalTransformation, #StartupEcosystem, #SaudiArabia, #CareerAdvice, #TechLeaders, #SmartCities, #FutureTech, #YoungProfessionals, #TechPodcast, #5GCoverage, #AutonomousVehicles, #TechInnovations

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Is Saudi Arabia’s new entertainment platform a smart move? Saudi Arabia is making a big splash in the entertainment world with a new digital platform. But is this billion-dollar gamble a smart idea? —> Here’s what’s happening: The Federation of Saudi Chambers just announced plans for a platform connecting private entertainment companies across the Kingdom. This could help businesses work together and attract new investments. Currently valued at about $2.32 billion, the market is expected to grow to $3.84 billion by 2028. This platform aligns with Saudi Vision 2030, which aims to diversify the economy beyond oil. By creating a central hub for event planning, Saudi Arabia hopes to draw major international events, making it a key destination for entertainment. As more tourists flock to Saudi Arabia, airlines will need to adapt. Increased visitor numbers will drive flight demand, especially in cities like Riyadh and Jeddah. Airlines may partner with event organizers to offer travel packages that include event tickets and hotels. If the entertainment sector grows at the expected rate of 10.4%, airlines will need to increase flights and capacity. Overall, while this platform is a bold move, it holds potential rewards for both the entertainment and airline industries as Saudi Arabia steps into the global spotlight. What do you think about this move? #Saudi #Vision2030 #Entertaintmentindustry #Global

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Thank you Asharq الشرق for hosting me to share my insights related to Boeing strike that began last Friday, a company that has already suffered a myriad of problems in the last five years... Collaboration and long-term resilience are definitely more critical than ever. https://lnkd.in/ehZQbMTQ The Boeing strike adds more pressure to an aerospace supply chain and would cause additional delay in deliveries of jets promised to airlines, cutting off Boeing's primary source of cash. The expected recovery will take up to a decade to fully recover from COVID-19 disruptions. Production delays and challenges for smaller suppliers could worsen, impacting the entire industry, including for airlines expecting aircraft deliveries already delayed many times, for the Boeing B777X as one of the example. 1BlueHorizon Group HOOKS Strategy & Innovation Blanc Azur EditionsBoeing Defense, Space & Security ATR EY-Parthenon TBS Education #boeing #resilience #strategicresilience #resilience #corporateresilience #strategicmanagement #strategy #transformation #restructuring #turnaround #uae #dubai #aviationindustry #aviation #emirates #airlines #aerospace #aerospaceindustry #supplychain #aerospacesupplychain #flying #passion #aerospaceanddefense #airlineeconomics #airlinestrategy #1bluehorizon #1bhg #onebluehorizon #blancazureditions #revuevolavoile #iimb #hooks

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Food security is among the biggest threats to life on Earth ⤵️ https://lnkd.in/dzGWfitX Building a forward-thinking company isn't just about fast sales... It's about purpose-driven growth, which is often slow and painful. Building jalebi has helped me find my purpose as a founder who cares deeply about humanity and helping improve circumstances for all. In my career, I've had the pleasure of working with many impact-focused companies and roles, such as Acumen. Now, to be at the helm of a company being recognized for our effort to drive change using impact as our speartip is nothing short of a privilege. Building a company that prioritizes food waste through inventory optimization helps us to establish a baseline for how responsible consumption can impact not only UN SDG goals 2, 8, 9, 11, 12, 13 (if you don't know them, look them up or ask Priya Sarma ✅), but also define ESG prerogatives for our customers and partners around the world. Join us 🍔 ----- #ClimateAction #Sustainability #jalebi #Deloitte #SDG #ESG #Impact

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#AmazonAlexa shows 90% growth in #Saudi Arabia and #UAE connected devices, with #Alexa users connecting more than 6 million devices in 2023! Saudi Arabia and the UAE are becoming bigger users of #smarthome devices, according to new figures from Amazon. A total of six million smart devices in the two countries connect to Amazon's famous virtual assistant, Alexa. Amazon says that more users are turning to Alexa to control lighting, air conditioners, TVs and cameras - among the most popular smart home devices categories. During 2023, Alexa users in KSA and UAE initiated nearly 130 million smart home actions and over 100 million requests to listen to music, Quran and podcasts, totaling more than 70 million hours of listening. Smart devices are enhancing lifestyles Throughout 2023, Alexa turned the lights on and off over 24 million times in homes across the UAE and KSA. Customers in these two countries turned to Alexa nearly 9 million times to control their air conditioners only by using their voice, the second-most frequently used device category. Amazon says there was a +50% YoY increase in smart home customers in 2023 vs 2022, with a +90% YoY increase in number of smart home devices connected to Alexa. Users from the Middle East usually have multiple compatible devices connected to Alexa, demonstrating the growing adoption of voice-enabled home automation. Read the full press release: https://lnkd.in/dTUGVNNu Check out the 𝗠𝗶𝗱𝗱𝗹𝗲 𝗘𝗮𝘀𝘁 𝗔𝗜 𝗡𝗲𝘄𝘀 𝗠𝗶𝗻𝘂𝘁𝗲 𝘍𝘓𝘈𝘚𝘏 𝘉𝘙𝘐𝘌𝘍𝘐𝘕𝘎 for #Alexa! https://lnkd.in/dgTsukBR 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘴𝘦𝘦 𝘈𝘓𝘓 𝘮𝘺 𝘧𝘶𝘵𝘶𝘳𝘦 𝘱𝘰𝘴𝘵𝘴? 𝘊𝘭𝘪𝘤𝘬 🔔 𝘰𝘯 𝘮𝘺 𝘱𝘳𝘰𝘧𝘪𝘭𝘦 𝘱𝘢𝘨𝘦. Want to receive my weekly news digest straight to your inbox every Thursday morning? https://lnkd.in/dij4qFi5 Trying to position your tech venture as a leader in its space? That's what I do! https://lnkd.in/dwQ5JMtm #MiddleEastAINews [ 100% 𝘏𝘶𝘮𝘢𝘯 𝘊𝘳𝘦𝘢𝘵𝘦𝘥 ] [ 𝘐𝘮𝘢𝘨𝘦: Raf Fatani Ph.D. د/ رافد بن امين فطاني, 𝘈𝘭𝘦𝘹𝘢, 𝘈𝘮𝘢𝘻𝘰𝘯 | 𝘊𝘳𝘦𝘥𝘪𝘵: 𝘈𝘮𝘢𝘻𝘰𝘯 ]

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‏🚀Unlocking the Future of Work in Saudi Arabia with Generative AI! 🇸🇦 ‏A recent study highlights the transformative potential of generative AI in Saudi Arabia: 1. Economic Potential: Generative AI could unlock up to USD 133.6 billion in productive capacity in Saudi Arabia’s private sector, equivalent to the size of its manufacturing industry. 💰 2. Workforce Transformation: The study estimates that 70% of the workforce could use generative AI in 5-20% of their daily activities, enhancing creativity and efficiency. 🤖 3. Policy Recommendations: To fully realize these opportunities, the report suggests equipping the workforce with future-ready skills and establishing strategic policy frameworks to support AI adoption. 📚 4. Strategic Importance: The report emphasizes the need for collaboration between government, private companies, and academic institutions to drive innovation and ensure AI advancements align with national priorities. 🚀 Economic Boost: Generative AI ‏Read the full report to learn more: [The Economic Impact of Generative AI Use: The Future of Work in Saudi Arabia](https://lnkd.in/djTi2YrY) ‏#AI #GenerativeAI #FutureOfWork #SaudiArabia #Innovation #Productivity

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SAUDI EXPORTS and Alibaba have signed an MoU aimed at enhancing the access of Saudi products to global markets. This strategic partnership is set to open new avenues for Saudi businesses to reach international consumers, leveraging Alibaba’s extensive e-commerce platform. This collaboration signifies a major step forward in diversifying the Saudi economy and promoting the Kingdom’s high-quality products around the world. By tapping into Alibaba’s global reach, Saudi exporters can expand their market presence, increase their competitiveness, and drive sustainable growth. I believe this partnership can significantly boost our international trade footprint. This is a wonderful opportunity for businesses to harness the power of digital platforms and embrace global commerce. #SaudiExports #GlobalMarkets #Alibaba #Ecommerce #Trade #EconomicGrowth #SaudiArabia

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"For Mubadala’s next act, Ajami is seeking to milk his tech connections to put more money directly into startups. At the same time, Mubadala is increasingly using its clout to encourage Western companies and investors to deepen their ties to the UAE’s tech ecosystem, part of the country’s broader push to diversify its economy away from oil. For Ajami, 49, the goal is for Mubadala—a term that means “exchange” in Arabic—to one day be mentioned in the same breath as Sand Hill Road’s most vaunted investment firms. “The way founders speak about Sequoia—why not, 20 years from now, won’t they speak that way about Mubadala?” asked Ajami. Ajami has a ways to go before he gets Mubadala there. Mubadala has stumbled badly in Europe as it has tried to employ a strategy similar to the one it used to break into the U.S. The companies it has backed in Europe have performed so poorly that Mubadala has put Jonno Elliott—who joined the firm in 2022 after leading VC investments at Virgin Management Ltd.—in charge of salvaging its portfolio of companies from the region, according to a person who spoke to Elliott. Among some European investors and founders, it has developed a reputation for aggressive tactics that could impact its ability to invest in top European companies in the future. And while plenty of tech investors speak highly of Mubadala, many of them are eager to curry favor with the deep-pocketed firm so it continues to invest in their funds, especially in the current dismal fundraising environment for VC firms. Privately, after singing the praises of Mubadala as a limited partner, many venture capitalists have also said its direct investments in startups don’t carry the weight of other investors’ bets. Sovereign wealth funds just don’t have the track record of picking winners that VC firms do, those critics say. Still, Mubadala has had some notable successes. Ajami and his lieutenants have helped it buy shares in buzzy companies like SpaceX, Waymo, Klarna, Brex, Chime, pharmaceuticals company Recursion and AI infrastructure company Crusoe Energy Systems, among others. Mubadala Capital, the VC and private equity arm of the sovereign wealth fund, oversees a $24 billion pool of capital with 180 employees spread across several offices, including in London, New York and San Francisco, which hosts a tech team they first established in 2017. Mubadala is also continuing to plow money into other VC funds. Its portfolio includes Altimeter Capital Management, Greenoaks Capital, Iconiq Capital, Dragoneer Investment Group, 8VC, Marcelo Claure’s Bicycle Capital, DCVC, Haun Ventures, Arch Venture Partners, Clocktower Group, Radical Ventures and a handful of emerging managers, like a new $30 million seed fund called Nebular, according to several people familiar with these funds." https://lnkd.in/gnyGdbg3

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