Abu Dhabi's Bayanat, a geospatial data products and services provider, aims to use artificial intelligence to support the emirate's urban planning agenda, its managing director has said.
The company, which is majority owned by AI and cloud group G42, has a goal of transforming data products into information and providing recurring data-as-a-service products to its clients in the fields of national infrastructure, oil and gas, municipal infrastructure and beyond, Hasan Al Hosani told The National at the Dubai Airshow.
“AI’s impact on the geospatial industry, like all industries, has been and continues to be profound. AI significantly impacts businesses and organisations, from the way we extract insights from geospatial data, to improving data analysis accuracy and enabling real-time analysis,” he said.
“AI creates the pathway for more accurate and timely decision-making in a wide range of fields, from agriculture and urban planning to disaster management and environmental conservation. As AI continues to evolve, its impact on the geospatial industry is likely to become even more significant.”
Bayanat is prepared to collect geospatial data “with unprecedented accuracy and detail” with the expected launch of new satellites and the continuing improvements in its sensor capabilities. This will support Abu Dhabi's autonomous vehicle and smart city programmes, he said.
In May, the company teamed up with Abu Dhabi’s Al Yah Satellite Communications, better known as Yahsat and Iceye, a synthetic radar satellites developer, to build national satellite remote sensing and earth observation capabilities within the UAE.
The first satellite as part of the programme is set to be launched in the first quarter of 2024, Bayanat chief operating officer Abdulla Al Shamsi told The National at the time.
“We expect continued growth in location-based services, particularly in navigation and logistics,” Mr Al Hosani said.
Bayanat is also ensuring the responsible and ethical use of AI in its operations, “to foster trust within the market and uncover the transformative potential that AI holds for all industries”, he said.
“AI is set to revolutionise the way businesses operate, making them more efficient, customer-centric and sustainable.
“Bayanat is developing solutions that optimise route planning, resource allocation, and asset tracking, which can be used for advancements in autonomous vehicles and growing smart cities.”
Bayanat was created following the commercialisation of the UAE's Military Survey Department, a sector of the Armed Forces. It provides national-level mapping and geospatial products and services for the public and private sectors in the UAE. G42 acquired the company in 2020.
The Abu Dhabi government is currently working on the Plan Abu Dhabi 2030 initiative, designed to help the emirate respond to current and future development needs.
Last month, Abu Dhabi also launched the Smart and Autonomous Vehicles Industry cluster at clean energy hub Masdar City, aimed at establishing the emirate as a major centre for the development of high-tech vehicles, to further diversify the economy and create thousands of jobs.
The multi-modal hub is expected to contribute between Dh90 billion and Dh120 billion ($24.5 billion to $32.7 billion) to the UAE's economy and generate up to 50,000 jobs.
Abu Dhabi retained its title as the smartest city in the Middle East and North Africa, and 13th globally, thanks to its digital-first initiatives, according to Switzerland's International Institute for Management Development's Smart City Index for 2023.
The global geospatial analytics market is projected to hit $207 billion by 2030, from an estimated $79 billion in 2023, data from Fortune Business Insights shows.
“Overall, the industry's future is bright, offering not only improved convenience but also substantial environmental benefits for our communities and the world at large,” Mr Al Hosani said.
Bayanat is also continuing to strengthen its several partnerships and collaborations with government agencies, research institutions and private enterprises, both locally and globally, aimed at helping make Abu Dhabi “smarter”, he said.
“As advanced data technology becomes more accessible to both companies and the public, we predict a rise in collaboration among organisations and individuals, allowing for tech adoption and broader co-operation on a global scale.”
Killing of Qassem Suleimani
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
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Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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3.45pm: Handicap (PA) Dh40,000 1,000m
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KILLING OF QASSEM SULEIMANI
KILLING OF QASSEM SULEIMANI
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6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m
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Specs
Price, base: Dhs850,000
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Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
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Killing of Qassem Suleimani
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