Maryam Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, at the World Economic Forum annual meeting. Photo: World Economic Forum
Maryam Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, at the World Economic Forum annual meeting. Photo: World Economic Forum
Maryam Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, at the World Economic Forum annual meeting. Photo: World Economic Forum
Maryam Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, at the World Economic Forum annual meeting. Photo: World Economic Forum

UAE’s digital transformation has put country on the map - and saved billions, minister says


Daniel Bardsley
  • English
  • Arabic

The UAE government's forward-thinking digital strategy has helped to save billion of dollars, boost efficiency and make the country a prime destination for top talent in advanced technology and artificial intelligence, an Emirati minister said.

Maryam Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, told delegates at the World Economic Forum that the country had become one of the most advanced in the world when it came to digitalisation, thanks to being years ahead of schedule in harnessing online services.

Its proactive approach has set the country up for further innovation. The forum heard the adoption of AI was set to lead to more changes in how government services were delivered.

Speaking during a panel discussion titled Governments, Rewired, Ms Al Hammadi said the modernisation of governments and how they delivered services was “a necessity for government to be relevant, competitive and effective”.

“That’s why in the UAE we embarked on the modernisation journey very early, two decades ago, where we started with the digital transformation, mobile and smart services,” she said. “The result is that now, in the UAE, 99 per cent of our government service is digitally transformed. We have 90 per cent satisfaction among our citizens, we have 100 per cent of our citizens living in the UAE having a digitally unified number where they can access most of the government services and some of the private services.

“We have also a federal saving of around $4 billion. Our IT infrastructure is ranked first globally and we are also ranked first globally on internet speed. We are third globally in attracting AI talent. We are fourth globally in the number of foundational AI models released.”

But she said government modernisation was not simply about digital transformation and it also involved widespread legislative reform to develop regulations that attracted “talented people, entrepreneurs”.

“In four years, 80 per cent of the federal laws have been changed,” she said, referring to updated legislation on e-commerce that has resulted in the country becoming home to more than 24,000 companies in that sector.

World Economic Forum - in pictures

Revolution ahead

In total, the UAE has more than 1.2 million registered companies, with many others set to be registered, Ms Al Hammadi said. Former UK prime minister Tony Blair told the session that the adoption of AI would enhance the way government services were delivered and could save money.

“This instrument, if properly used, will transform everything,” he said. “We’re going to be able to use AI, particularly generative AI, to improve efficiency. That means you can spend less, tax less and deliver greater efficiency.”

Former British prime minister Tony Blair at the World Economic Forum in Davos, Switzerland. AFP
Former British prime minister Tony Blair at the World Economic Forum in Davos, Switzerland. AFP

He said governments were currently “in the foothills of this revolution”, but that making use of the technology would require close collaboration between the public and private sectors.

“The public sector will always be slower than the private sector to catch up, but we should try to accelerate that process,” he said.

In another example of how the UAE is harnessing the power of technology, Mariam Almheiri, Head of the International Affairs Office at the Presidential Court, spoke of the way the authorities are using AI to help smallholders to improve their crop yields.

It could offer useful advice for improving yields in the UAE’s climate, she added.

During a panel discussion titled Breaking Down Food, Ms Almheiri said “one of the most exciting” innovations being introduced by the government was the use of the generative AI technology ChatGPT for food and agriculture. The move was first revealed at the Cop29 climate summit in Azerbaijan in November.

“We eventually want to get this to the smallholder farmers so that they have their agricultural advisers in their pockets,” she said, referring to the way the technology could be delivered using smartphones.

A final version of the technology, known as Chag because it combines ChatGPT and agriculture, should be available in May, said Ms Almheiri, who served previously as minister for climate change and environment and minister of state for food and water security.

“Innovation is key to breaking the food system that we’re unfortunately in,” Ms Almheiri added.

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
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
UAE currency: the story behind the money in your pockets
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.

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Updated: January 24, 2025, 7:11 AM