London is fast becoming a global centre for AI development and business, a major tech conference in the UK capital was told on Monday.
Over the past decade, the total value of London's tech ecosystem has surged from $70 billion in 2014 to $621.5 billion in 2023, the Global Startup Ecosystem Ranking 2024 launched at London Tech Week on Monday said.
Ranking alongside New York and just behind Silicon Valley standing at No 1, London is established as Europe's premiere tech hub. The report said London is now home to 103 unicorn businesses, and has seen an 800 per cent rise in venture capital investment over the past decade, reaching a total of $107 billion invested. Tech ventures invested $12 billion in London in 2023.
Mayor Sadiq Khan told London Tech Week the city has “unique strengths” and was “fast becoming one of the most important centres for AI businesses globally”.
Alex Kendall, the founder of the autonomous driving firm Wayve, told conference delegates that London was a “tech superpower”, and that “having global ambitions is important”.
AI would “transform robotics” and “we are going to need robots that can make decisions for themselves”, he added.
More than 45,000 people are expected over the next three days at Tech Week, which includes keynote speeches, panel discussions and fringe events.
Twice as many visitors as last year are predicted, with hundreds of exhibitors packed into London's Olympia exhibition centre looking to show their wares and network with other tech companies.
Chief executives and chief technology officers from some of the world's biggest technology companies said the next few years will be transformative, not just for the tech sector but for society as a whole.
“As we think about AI’s potential in the year ahead, decisions made by all of us will shape the future and the headlines that will happen in the next 12 months,” said Clare Barclay, the chief executive of Microsoft UK.
“I think it’s one of the most remarkable times we have in the tech sector. We really are on the cusp of the next era.”
AI was very much the focus of the opening sessions and panels, with questions being asked around the current viability and take-up of the technology by businesses.
“There is commercial value in AI and it can be done safely and ethically,” said Nicola Hodson, IBM's chief executive for the UK and Ireland.
“AI will add $4.4 billion a year to global GDP. The AI industry will outstrip the UK economy by a trillion dollars within six years.”
'Utterly breathtaking'
Ms Barclay described the developments in AI as “utterly breathtaking” and pointed out that a third of Europe's AI start-up companies were in the UK.
“Linked to this, there's an influx of investment and venture capital into the UK that's fuelling growth,” she said.
“AI cloud technologies could add up to £550 billion [$700 billion] to the UK's GDP by 2035 and [the country] is now ranked third in the global AI-readiness index.”
Much was made of AI's potential to heighten productivity for companies, with one statistic highlighting that for every pound companies spend on AI and upskilling, they are seeing about £5 returned in terms of value created.
While the potential for AI to enhance economic growth is clear, Ms Hodson also pointed out that AI needs to “be trusted” and that the development of it needs to remain open.
“An open approach means more eyes on the code and encourages collaboration,” she said.
Many of the speakers talking about AI made much the same point that artificial intelligence is a future that is sprinting towards the present.
“Computing power continues to be almost unlimited,” said Mark Chaban, general manager of customer success and innovation at Microsoft.
“When you think about the scale of laws in terms of these deep neural networks, it really broke Moore's law in terms of computing power doubling every 12-18 months.
“What we're seeing now is the training of the large language models are doubling every six months and quadrupling in terms of their power and capability.”
Netherlands v UAE, Twenty20 International series
Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen
Tuesday, August 6 – Third T20i, Voorburg
Thursday, August 8 – Fourth T20i, Vooryburg
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
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MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham 0-1 Ajax, Tuesday
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Game is on BeIN Sports
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
RIDE%20ON
%3Cp%3EDirector%3A%20Larry%20Yang%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jackie%20Chan%2C%20Liu%20Haocun%2C%20Kevin%20Guo%3C%2Fp%3E%0A%3Cp%3ERating%3A%202%2F5%3C%2Fp%3E%0A
Essentials
The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
PLAY-OFF%20DRAW
%3Cp%3EBarcelona%20%20v%20Manchester%20United%0D%3Cbr%3E%0D%3Cbr%3EJuventus%20v%20Nantes%20%0D%3Cbr%3E%0D%3Cbr%3ESporting%20Lisbon%20v%20Midtjylland%20%0D%3Cbr%3E%0D%3Cbr%3EShakhtar%20Donetsk%20v%20Rennes%20%0D%3Cbr%3E%0D%3Cbr%3EAjax%20v%20Union%20Berlin%0D%3Cbr%3E%0D%3Cbr%3EBayer%20Leverkusen%20v%20Monaco%20%0D%3Cbr%3E%0D%3Cbr%3ESevilla%20v%20PSV%20Eindhoven%0D%3Cbr%3E%0D%3Cbr%3ESalzburg%20v%20Roma%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
STAGE 4 RESULTS
1 Sam Bennett (IRL) Deceuninck-QuickStep - 4:51:51
2 David Dekker (NED) Team Jumbo-Visma
3 Caleb Ewan (AUS) Lotto Soudal
4 Elia Viviani (ITA) Cofidis
5 Matteo Moschetti (ITA) Trek-Segafredo
General Classification
1 Tadej Pogacar (SLO) UAE Team Emirates - 12:50:21
2 Adam Yates (GBR) Teamn Ineos Grenadiers - 0:00:43
3 Joao Almeida (POR) Deceuninck-QuickStep - 0:01:03
4 Chris Harper (AUS) Jumbo-Visma - 0:01:43
5 Neilson Powless (USA) EF Education-Nippo - 0:01:45
MEDIEVIL%20(1998)
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
ENGLAND%20SQUAD
%3Cp%3E%3Cstrong%3EGoalkeepers%3C%2Fstrong%3E%20Pickford%20(Everton)%2C%20Pope%20(Newcastle)%2C%20Ramsdale%20(Arsenal)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDefenders%3C%2Fstrong%3E%20Chilwell%20(Chelsea)%2C%20Dier%20(Tottenham)%2C%20Guehi%20(Crystal%20Palace)%2C%20James%20(Chelsea)%2C%20Maguire%20(Man%20United)%2C%20Shaw%20(Man%20United)%2C%20Stones%20(Man%20City)%2C%20Trippier%20(Newcastle)%2C%20Walker%20(Man%20City)%3Cbr%3E%3Cbr%3E%3Cstrong%3EMidfielders%20%3C%2Fstrong%3EBellingham%20(Dortmund)%2C%20Gallagher%20(Chelsea)%2C%20Henderson%20(Liverpool)%2C%20Maddison%20(Leicester)%2C%20Mount%20(Chelsea)%2C%20Phillips%20(Man%20City)%2C%20Declan%20Rice%20(West%20Ham)%3Cbr%3E%3Cbr%3E%3Cstrong%3EForwards%20%3C%2Fstrong%3EFoden%20(Man%20City)%2C%20Grealish%20(Man%20City)%2C%20Kane%20(Tottenham)%2C%20Rashford%20(Man%20United)%2C%20Saka%20(Arsenal)%2C%20Toney%20(Brentford)%3C%2Fp%3E%0A
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
if you go
The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles.
Killing of Qassem Suleimani
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
'Operation Mincemeat'
Director: John Madden
Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton
Rating: 4/5
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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