UAE pupils are being offered the opportunity to gain experience in jobs of the future, including in artificial intelligence and cryptocurrency, under a new internship scheme.
Pupils aged 13 to 20 across the Emirates can secure virtual internships at major global companies such as HSBC, Uber, Weiss Asset Management, KPMG and Dentons.
The programme is being operated by UAE higher education consultancy firm, Crimson Education.
It is just the latest initiative aimed at preparing the UAE's next generation of workers for an ever-changing employment landscape.
Soraya Beheshti, the regional director for Crimson Education, said there was a gap in the market when it came to young people being able to access internships in emerging technologies.
“We believe that young people tend to get sidelined a lot because of age, and tend to be told that your age is really a limitation, you shouldn't be working, you shouldn't be doing this, you're not experienced enough, you have to pay your due,” said Ms Beheshti.
“We want young people to feel like they really do and should have a place at the table. They are often the main consumers of a lot of tech start-ups. So, we wanted to create that infrastructure.”
Crimson Education provides training, which is required by the companies in order for them to take on the young interns.
The cost of the training varies on a case-by-case basis, depending on how much support the intern needs, but can be as much as up 4,900 (Dh18,000) for the most extensive training, Crimson Education said.
Ms Beheshti said the scheme offers a rare opportunity to garner experience at global firms.
“Typically, these firms do not employ high school pupils as interns because these are some of the most competitive firms in the world.”
Siddhant Tandon, a 17-year-old Indian pupil at Dubai International Academy, is currently doing an internship with PWC Australia, which he secured through a competition organised by Crimson Education.
“Every pupil should have at least one internship before entering college to know what the workplace is like,” said Siddhant.
“These internships are very helpful. School gives you the theoretical knowledge you would need, but doesn't give you the more practical and useful knowledge for life that internships give you.
“I definitely think artificial intelligence and cryptocurrency is a good way to go as a student to explore the FinTech field … I think that's definitely the future.”
Weiss Asset Management, a global investment manager in the US, has committed to hiring the top interns as paid analysts.
KPMG, which offers financial services around the world, will offer an internship covering digital strategy, cybersecurity and tech consulting.
Y Combinator, an American technology start-up accelerator is also providing internships covering cryptocurrency under the scheme.
Students would focus on three core competencies. The first is is cryptocurrency, offering an overview of how the sector works. The second takes in blockchain, with the third focusing on entrepreneurship.
The digital currency continues to grow in prominence across the globe, including in the UAE.
In October, The National reported that Dubai expects more than 1,000 cryptocurrency businesses to be operational this year, as it accelerates efforts to boost its digital economy.
Free zones in Dubai and Abu Dhabi have put in place an advanced framework to encourage entrepreneurs in the crypto sector to set up exchanges while laying out rules to protect consumers.
“Five years ago you wouldn't see people coming to Dubai to do the cryptocurrency business … we're open-minded, and we're willing to change regulations with reason,” said Dr Marwan Al Zahrouni, chief executive of the Dubai Blockchain Centre, at the time.
Cryptocurrency trading has fast become a lucrative job, although it is not without its risks due to the inherent volatility of the financial market.
About 4 per cent of 6,741 people in the US said they had quit their jobs at some point over the past year due to the financial freedom gained from investing in cryptocurrencies, according to a survey by online polling app Civic Science in November.
Twenty-seven per cent of participants said they resigned from jobs that paid less than $25,000 a year, while 37 per cent left jobs with salaries of about $50,000, the survey found.
Pioneering school offers support
Abu Dhabi's coding school, 42 Abu Dhabi, is proving popular with a new generation of learners eager to be equipped with the tools needed to thrive in the digital age.
The school, which has no classrooms or teachers, opened in October and has the capacity to fill 1,000 fully funded places for courses of up to three years.
Students sharpen their programming skills through internships, projects, games and peer-to-peer learning.
Huawei, Du, Microsoft, Intel and Oracle are offering internships to students at 42 Abu Dhabi.
The UAE's National Programme for Artificial Intelligence has held a series of AI camps to help equip young people with key skills.
The third such camp, held in September, was supported by major organisations such as Facebook, Microsoft, Huawei, Careem, SAP and other AI-specialist companies.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
SPECS
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Brief scores:
Juventus 3
Dybala 6', Bonucci 17', Ronaldo 63'
Frosinone 0
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
More from Neighbourhood Watch:
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
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
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Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara
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
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
COMPANY%20PROFILE
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SPECS
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Coming soon
Torno Subito by Massimo Bottura
When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.
Akira Back Dubai
Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as, “an innovative Japanese cuisine prepared with a Korean accent”.
Dinner by Heston Blumenthal
The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems.
'C'mon C'mon'
Director:Mike Mills
Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman
Rating: 4/5
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
UAE currency: the story behind the money in your pockets
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
