UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

Enhancing Collaboration in Advanced Technology: A Conversation with Elon Musk on AI and Innovation.

Elon Musk is an innovator and entrepreneur whose focus is the development of cutting edge technology and particularly Application Intelligence (AI). Today's discussion revolved around understanding the dynamics of change in artificial intelligence with ways of improving teamwork in that field. Musk is also known for coming up with some mega ideas and even more mega strategies so it was not surprising that the call for global cooperation in use of AI was made to avoid disorganized competition of nations and industries that would ultimately waste a lot of resources and fail to solve the key issues of the 21st century. That vision which is his echoes with the increasing understanding that in order to tap the capabilities of AI, proactive implementation of these capabilities is of collective, rather than individual, nature.

A focal point of the discussion was the ethics of AI and its development. As Musk pointed out, AI is more than a device, it is a way of thinking that will change business, economies and even relationships. Nevertheless, given the right alliances and governance, this force might be abused and/or produce adverse effects. In our collective dream lies the aspiration, to design and create ethically sound AI systems that will serve to uplift humanity. All of us concurred that it was essential that global policies and structures be put in place as regards to the technology, so that its advancement is beneficial, to all areas of sector healthcare, education, energy, and even transport.

As we look ahead, we realize that the potentials that AI presents are limitless. All that remains is availing our vast resource base and intelligence and there will improvement in mechanization, output as well as tackling of challenges. While we have a common vision of the future, which includes the evolution of AI from being a mere tool for developing new solutions to addressing the seemingly intractable problems, we appreciate the call for cooperation, as expressed by Musk, even more. It is this vision that motivates us to deploy AI along with other instruments for the purpose of promoting social and economic inclusion, and global development. This being the case interview with Elon Musk, enhances our belief that there is going to be cooperative AI development that will in shapes that are accommodating to everyone.

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