Scalo Technologies

GenAI is forecast to contribute between US$2.6 trillion and US$4.4 trillion annually to global GDP by 2030, with a new, smarter chatbot helping the private and public sectors boost customer service, improve efficiency and cut costs. Agentic AI can understand complex questions, provide accurate answers, and solve problems on its own, as highlighted in an interesting new executive playbook from PwC. It says that investments in GenAI are expected to triple from $40 billion in 2023 to over $140 billion by the end of the decade.

UAE companies are experiencing a surge in demand for artificial intelligence expertise, but many are being held back by a shortage of skilled employees, according to a new SAP survey. The all industry study says 84% of UAE companies plan to hire specialised AI staff within the next 15 months, 57% have already implemented AI training and a further 35% plan to do so in the next 15 months. Meanwhile, 43% of decision makers say a lack of skilled employees is a key challenge to implementing AI. #artificialintelligence #AI #UAE https://lnkd.in/dpPXMZsa

The UAE is using artificial intelligence to reinforce cloud seeding efforts in order to boost rainfall and address water scarcity, the National Centre of Meteorology has revealed. After investing heavily in tech to secure its water supply, increasing rainfall annually by a minimum of 15%, the country is now using AI to predict the best times and locations for cloud seeding. #artificialintelligence #AI #cloudseeding #waterscarcity https://lnkd.in/ddw3jhju

I’m pleased to be joining the line-up of speakers for The Bitcoin Mena Conference taking place in Abu Dhabi next month. It will be particularly interesting to take part in discussions on the role of Bitcoin mining in balancing the electricity grid, and developing green energy sources. #bitcoinmining #greenenergy

The number of MENA gamers is expected to grow to 83.7 million in 2028, making it the second fastest-growing region, both in terms of revenue and number of players, according to a new report. Spending on gaming in Saudi Arabia, the UAE and Egypt, valued at $1.92 billion in 2023, is expected to increase by 8.2% to $2.08 billion this year and reach $2.87 billion in 2028, says the study by global advertisement firm Dentsu. #gaming #gamingindustry https://lnkd.in/dQwqCy2p

ADNOC has launched a groundbreaking artificial intelligence solution for the energy sector in what the company says is a major milestone in its journey to becoming the industry’s most AI-enabled company. #artificialintelligence #largelanguagemodel #technology https://lnkd.in/dQkYUWTt

The world’s top football clubs are increasingly using artificial intelligence in their bid to gain a competitive edge. So, could AI ultimately produce a Champions League or Ballon d'Or winner? Multiple Portuguese champions Benfica are among the clubs who use AI to track player movements and analyze game footage to identify strengths, weaknesses, and potential improvements. This data-driven approach helps them develop young talent and make strategic decisions. AI is also automating tasks like analyzing set pieces, freeing up coaches and analysts to focus on more valuable tasks. https://lnkd.in/dax6ktyB

While AI tools are now established as a big part of modern business operations, large language models can create problems by generating false information. Researchers have come up with a time saving solution. The phenomenon known as ‘hallucination’ by LLMs means that users have to become fact checkers, spending a lot of time verifying information which may sound impressive, but is often incorrect or unsupported. Now an MIT research team has developed a tool that helps users easily check the accuracy of the information, reducing verification time by about 20%, identifying errors in a variety of day-to-day business situations. #artificialintelligence #largelanguagemodels #LLMs

Saudi Arabia has taken another step towards positioning itself as a global artificial intelligence hub, with a new initiative to build a strong pipeline of global early-stage AI start-ups. The venture capital arm of oil giant Saudi Aramco has dedicated $100 million to invest in early-stage artificial intelligence start-ups, and appointed an advisory board consisting of global leaders in AI to steer the plan. #artificialintelligence #startups https://lnkd.in/dhp_uMWC

Young players from toddlers age up are driving growth in the global video game market, which could climb by 6% a year to reach $257 billion by 2028, a new study shows. Almost 80% of 2-to-18-year-olds are gamers, and they spend 30% of their entertainment time gaming, in the process re-shaping the industry, reveals the Bain & Company report. It says other key themes that game developers and publishers, device makers, and marketplace operators should take note of are: • gaming is about more than gameplay • gamers are cocreating the experience • they want to play across platforms and devices • gaming IP is taking share in other media.