“Artificial intelligence and robots will kill many jobs.” It’s a depressingly blunt statement for anyone to make, but even more so as it is the prediction of Jack Ma, CEO of the Chinese online sales giant Alibaba.
The rise of AI – its huge potential and fears over its potentially negative consequences – is just one of the big issues discussed at the World Economic Forum in Davos, along with breaches of personal data and fake news.
But it is probably artificial intelligence and the ability of machines to not only interact with, but manipulate human beings that raises the most suspicion.
Aware of growing governmental and public distrust, the giants of tech are trying to address the issues.
“Technology should always give people new opportunities, not remove them,” Ma said.
But when IBM President Ginni Rometty admits that “100 percent of jobs will be somehow affected by technology,” it might be a tough sell.
It’s not just about jobs.
“People want to trust technology, as long as they know who is behind it,” said Neelie Kroes, now a member of the Open Data Institute, after having been for years the European commissioner in charge of digital issues.
In recent months, US-based Uber, which connects individuals with drivers through an application, found itself in the hot seat after several murders perpetrated by its chauffeurs, notably in the United States and in Lebanon.
“You have to remember that the rating of a driver evaluates his driving but cannot predict if he is a serial killer,” Uber director Dara Khosrowshahi told a panel at this week’s economic gathering in the Swiss resort of Davos.
“In this situation, who is responsible, the individual or the platform?” wondered Rachel Botsman, an expert on the issue and author of the book Who Can We Trust?
Uber is the best-known example of a fast-growing company with a bruised reputation: accused of bad working conditions and sexual harassment it has faced chaotic legal proceedings and massive data piracy, which have sapped the firm.
“For a long time, the answer of many digital companies has been to say: we are only the software, the platform, but technology now penetrates every aspect of our lives, our trades, our homes, our relationships,” said Zvika Krieger, who leads digital projects for the World Economic Forum, the organiser of the Davos meeting.
“Our response is no longer audible,” he said.
In Davos, there was also concern about internet giants hoovering up huge amounts of personal data, sometimes illegally and sometimes sharing it with authorities.
“The danger is that we are too slow and that the world is destroying us while we are still asking who really owns our data,” said German chancellor Angela Merkel during her Davos speech.
In the same way, attitudes towards social networks and search engines are changing.
“The main question is whether Facebook and Google are technology companies or editorial companies, it is a question that remains unresolved,” said Martin Sorrell, CEO of the British advertising giant WPP.
Amid the mistrust, Davos heard unique proposals from the digital world, which mostly rejects too much oversight by governments, believing it would stifle innovation.
Marc Benioff, the outspoken CEO and founder of Salesforce, a major cloud services company, called plainly for more regulation of the sector.
“We’re the same as any other industry,” Mr Benioff told CNBC in Davos.
Much like “financial services, consumer product goods, food – in technology, the government’s going to have to be involved,” he said.
Observers hailed what they saw as a change of heart by the titans of tech.
“Regulatory authorities in Europe have been complaining for years that big digital companies are not responding when they’re called,” said WEF’s Zvika Krieger.
“Let’s say they’re picking up the phone now.”
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Engine: 3-litre twin-turbo V6
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
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.
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
The specs: 2019 Mini Cooper
Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Company%20profile
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
AGUERO'S PREMIER LEAGUE RECORD
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Goals: 127
Assists: 31
Wins: 117
Losses: 33
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
BACK%20TO%20ALEXANDRIA
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