Fintech PR
H.E. Omar Sultan Al Olama Highlighted AI Governance and Regulations in the UAE
Expand North Star hosted an unfiltered panel discussion to challenge the conventional narratives surrounding unicorn companies
Asian founders explored how increasing public-private partnerships are driving the growth of next-generation startups
DUBAI, UAE, Oct. 17, 2023 /PRNewswire/ — The rapidly evolving AI industry poses a challenge for regulators as they seek to foster public trust and confidence in AI while promoting innovation and competitiveness for local industry. A session titled ‘Leaders of Change Through the AI Lens’ underscored the potential impact of AI and the need for its regulation, on Day 3 of Expand North Star, hosted by the Dubai Chambers of Digital Commerce and organised by the Dubai World Trade Centre.
His Excellency Omar Sultan Al Olama, Minister of State for Digital Economy, Artificial Intelligence and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy, revealed that the UAE Government has launched a program in partnership with Oxford University, to educate public officials on how to govern artificial intelligence, how to audit AI systems, and help explore use cases.
H.E. Al Olama said regulations must be adapted to specific countries, noting that the challenges facing the USA vary from those in the UAE, Japan, China or England. To prevent technology from harming the public, the world must agree on a regulatory baseline, where legislation is possible, and how it can be implemented.
Other panelists included Mohamed Gouled, Vice President of Industries, International Finance Corporation, US, and Emad Mostaque, Co-Founder and CEO, Stability AI, UK. Conscious of AI’s immense power, the panelists stressed the need for AI regulation. However, the speakers also acknowledged the technology’s vast potential to change and uplift the world, highlighting how various AI use cases can elevate small businesses and developing countries.
Exploring the Entrepreneurial Journey with Founders
Startup success stories are a business and tech media staple. But behind the glowing media reports is the hard work required to get there. Entrepreneurs need grit, patience, and perseverance to overcome obstacles and failures. Startups are for those who dare to challenge the status quo and create something new.
Expand North Star hosted an unfiltered panel discussion to challenge the conventional narratives surrounding unicorn companies. The panel featured prominent speakers from across the globe, including Rohit Chennamaneni, Founder at Darwinbox; Ramakant Sharma, Founder of LivSpace; Sebastien Borget, Co-founder & COO of The Sandbox; Dr. Milkayel Vardanyan, Co-Founder & CPO, Picsart; Dan Westgarth, Co-founder & COO, Deel; and Melvyn Lubega, Founder & Director, Go1, and was moderated by Nic Watson, CEO, Udrive.
During the discussion, the panelists shed light on the triumphs and challenges of building and scaling a business. They highlighted the importance of properly valuing startups, influenced by customer activities and external market factors. Various obstacles were addressed, including long hours and constant toil that negatively affect the founders’ and employees’ well-being. The speakers told of corporate and personal upheaval as their businesses scaled, requiring continuous reinvention to maintain growth.
Asian Startup Scene: A Success Story
With its large population, history of entrepreneurship and public and private sector support for entrepreneurs, the Asian tech scene has never been this vibrant. Expand North Star had a Spotlight Asia focus on Day 3, hosting an engaging panel discussion titled ‘Exploring Ecosystems in Emerging Markets’. The panelists discussed the measures needed to propel future growth in the region’s startup landscape and an analysis of how increasing public-private partnerships are driving growth for next-generation startups.
Among the panelists were Ashok Kurian, Business Development & Startup Lifecycle Programs, Kerala Startup Mission; Ehantha Sirisena, CEO of KBSL, Sri Lanka; Naeem Zamindar, Founder, Neem, Pakistan; and Rezwanul Haque Jami, Head of Commercial Strategy, Ministry of ICT, Bangladesh.
The speakers noted that the challenges facing Asian countries present tremendous opportunities. Education, infrastructure, healthcare and more are all rich targets for transformation. Government bodies in the continent are adopting new disruptive technologies, including from startups. The speakers commended organizers for putting together prominent events, such as Expand North Star, essential to exploring international markets.
Hosted by the Dubai Chamber of Digital Economy, Expand North Star marks its largest-ever edition this year, from October 15-18, 2023, at its new Dubai Harbour venue. GITEX GLOBAL 2023 and Expand North Star bring together 1,800 startups from 100-plus countries at the Middle East’s biggest iconic superyacht hub. More than 1,000 investors with a combined total of over US$ 1 trillion under management are in Dubai, rapidly emerging as the heart of the world’s digital economy. This mega gathering of next-gen companies also features three themed sub-events targeting specific sectors: Fintech Surge, the Future Blockchain Summit, and Marketing Mania.
Information for journalists:
Register as press here.
Press information and photographic material:
[Media Center]
On social media:
Facebook
Twitter
Instagram
LinkedIn
Youtube
Hashtag:
#ExpandNorthStar
About Dubai World Trade Centre (DWTC):
A global business facilitator since 1979, Dubai World Trade Centre (DWTC) is home to region’s leading purpose-built convention and exhibition centre. DWTC provides a platform for connecting people, products, innovation and ideas from around the world through a dynamic calendar of international trade exhibitions and its own roster of sector leading mega events. As a designated free zone, complemented by award-winning commercial real estate, DWTC plays an integral role in Dubai and the region’s growth story with an estimated total economic output of AED 200 Billion, attracting over 30 million business visitors to Dubai over the past four decades.
Photo: https://mma.prnewswire.com/media/2249759/AI_Governance_Regulations_UAE.jpg
