Khaldoon Al Mubarak, group chief executive of Mubadala Investment Company, said the Abu Dhabi company has $330 billion in assets under management. Bloomberg
Khaldoon Al Mubarak, group chief executive of Mubadala Investment Company, said the Abu Dhabi company has $330 billion in assets under management. Bloomberg
Khaldoon Al Mubarak, group chief executive of Mubadala Investment Company, said the Abu Dhabi company has $330 billion in assets under management. Bloomberg
Khaldoon Al Mubarak, group chief executive of Mubadala Investment Company, said the Abu Dhabi company has $330 billion in assets under management. Bloomberg

Mubadala to have an AI member on its investment committee in 2025


Deena Kamel
  • English
  • Arabic

Abu Dhabi's Mubadala Investment Company, which has $330 billion of assets under management, plans to have an artificial intelligence member as a consultant on its investment committee starting next year, as it seeks to be at the forefront of the technology.

The emirate's investment arm will incorporate AI in every aspect of its operational model, including corporate, administration, accounting and investment, its chief executive and managing director Khaldoon Al Mubarak said on Friday during the closing session of the Milken Institute Middle East and Africa Summit held in Abu Dhabi.

"We at Mubadala are going to be on the frontier side of AI-enablement in our way of doing business next year...by the end of 2025, in everything we do, AI is going to be fully ingrained," he said.

"Starting in January 1, I've given that deadline, our first investment committee in the new year will have an AI member with us... not in decision-making for the time being, but a consultative co-pilot that has the Mubadala DNA we've been developing over the last year, that is able to support our decision-making in terms of due diligence, analysis and assessment and a perspective on every decision we're going to make."

The AI-enabled operations will elevate Mubadala to "a different place" and the company is "willing to take a bit of risk, for lack of a better word, in terms of how we're going to play with this to get ourselves smarter and smarter in that space".

Mubadala made investments worth Dh89 billion in AI, technology, digital infrastructure, life sciences and clean energy last year. Photo: Mubadala Investment Company
Mubadala made investments worth Dh89 billion in AI, technology, digital infrastructure, life sciences and clean energy last year. Photo: Mubadala Investment Company

Mubadala, which invests on behalf of the Abu Dhabi government, is at the centre of the emirate’s efforts to diversify its revenue base and generate income from sources other than oil. Its interests span six continents and include the aerospace, semiconductors, metals and mining, renewable energy, oil and gas, and petrochemicals sectors.

Mubadala – which has reached $330 billion of assets under management today, up from $200 million when it first started 20 years ago – is "zooming in" on key sectors that will be growing in the future including AI, technology, financial services, life sciences and healthcare, Mr Al Mubarak said.

Private credit is another area that the company is focusing on. Credit is "another ... very clear growth area that we are going to continue to invest in. It has done very well for us," he said, adding that Mubadala has an exposure to the asset class of almost $20 billion.

In terms of geographies, Mubadala is eyeing growth in Asia, given the massive expansion in their populations and youth demographics.

"South-east Asia, and Asia in general, we're underinvested in that. We need to [invest] because that's where the growth is," Mr Al Mubarak said.

India's population of 1.4 billion people, including a large proportion of youth under 15 years old, is also a major focus area for Mubadala and the UAE that take a long-term view of investments, Mr Al Mubarak said.

“You have to take a very strong view on India, you have to take a strong view on South-East because that's where growth is, that's where the populations are growing."

Mubadala is also considering how to tap into the African market.

“We have to figure out how we are going to invest in Africa and how we are going to create value in a way that matches our risk profile. That is a nut that we have not yet cracked but we’re gonna have to figure it out," Mr Al Mubarak said.

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The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

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The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

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Transmission: 9-speed auto

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The specs
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The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

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A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
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  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
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  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
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  • Mortgages with better interest rates, faster approval times and reduced fees
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  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
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World Test Championship table

1 India 71 per cent

2 New Zealand 70 per cent

3 Australia 69.2 per cent

4 England 64.1 per cent

5 Pakistan 43.3 per cent

6 West Indies 33.3 per cent

7 South Africa 30 per cent

8 Sri Lanka 16.7 per cent

9 Bangladesh 0

Updated: December 06, 2024, 1:19 PM`