logo
BIBF CEO: Developing national AI talent is a cornerstone for digital-economic transformation

BIBF CEO: Developing national AI talent is a cornerstone for digital-economic transformation

Zawya8 hours ago
Manama – Dr. Ahmed Abdulhameed Al-Shaikh, Chief Executive Officer of the Bahrain Institute of Banking and Finance (BIBF), commended the launch of the National Policy for the Use of Artificial Intelligence, announced by the Information & eGovernment Authority (iGA), and the adoption of the GCC Guiding Manual on the Ethical Use of AI. He affirmed that this national policy represents a significant step in advancing Bahrain's vision to become a digitally empowered, innovation-driven economy.
Dr. Al-Shaikh emphasised that building national capacity in artificial intelligence is a critical enabler of digital transformation. He noted that equipping Bahraini talent with AI-related skills and knowledge is essential to ensure the responsible, secure, and effective application of emerging technologies, in line with the ethical principles outlined in the GCC manual and Bahrain's national frameworks.
He stated: 'The successful implementation of the AI Policy depends not only on regulation and infrastructure, but also on investing in people. At BIBF, we are committed to supporting the national AI agenda by offering academic and professional development programmes in areas such as artificial intelligence, machine learning, and data analytics - ensuring alignment with ethical standards and the future needs of the economy.'
Dr. Al-Shaikh highlighted BIBF's ongoing efforts to develop specialised training programmes and workshops in collaboration with leading global partners. These efforts aim to equip Bahraini professionals with the skills required for the jobs of the future.
Dr. Al-Shaikh noted that over the past two years, the BIBF has implemented a number of national initiatives in this field, including intensive programmes in artificial intelligence in partnership with local and international entities, in addition to 'AI Readiness' programme to train more than 5,000 Bahrainis over the next five years in AI skills and applications.
Concluding his remarks, Dr. Al-Shaikh reiterated the importance of cooperation between government, academia, and industry to achieve the goals of the AI policy. He stressed that public confidence in AI - and its ethical and effective use - is built on education, awareness, and empowerment, all of which remain central to BIBF's mission.​​​​
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

American University of Bahrain supports graduates through collaboration with DOO
American University of Bahrain supports graduates through collaboration with DOO

Zawya

time8 hours ago

  • Zawya

American University of Bahrain supports graduates through collaboration with DOO

Manama: The American University of Bahrain (AUBH) has collaborated with DOO, Bahrain's leading artificial intelligence customer experience company, established by two of the university's own entrepreneurial graduates – Mohamed Alkhabbaz and Ali Altoblani. This collaboration reflects AUBH's continued commitment to empowering alumni-led ventures and embracing forward-thinking technologies that align with the Kingdom's national digital transformation strategy. The collaboration facilitates the deployment of advanced, AI-driven support across AUBH's digital platforms, enabling faster response times, elevating user satisfaction, and greater operational efficiency. Leveraging artificial intelligence technologies, the system can intelligently analyze inquiries and deliver accurate, tailored responses that reflect the specific needs and expectations of users. Mr. Wiliam D. Hurt, chief Operating Officer at the American University of Bahrain, commented: "This collaboration serves as a compelling example of how our graduates are turning academic knowledge into impactful, future-focused ventures. DOO represents the kind of innovation and entrepreneurial spirit we strive to cultivate at AUBH, and we take great pride in this collaboration, which reflects the strength of our academic offerings in technology and reinforces our role in empowering Bahrain's next generation of digital leaders.' Mr. Hurt affirmed that AUBH's commitment to its graduates extends well beyond their academic journey, emphasizing the university's ongoing support to their continued growth and celebrating their entrepreneurial achievements, and added, "The integration of DOO's advanced AI solutions into AUBH's academic and administrative frameworks represents a progressive step in our digital transformation efforts, and we aim to foster similar collaborations with other alumni-led enterprises, recognizing them as proud ambassadors of AUBH's mission and the transformative education it delivers." Mr. Mohammed Alkhabbaz, Co-Founder of DOO, expressed his appreciation for the collaboration, and commented, 'DOO views this collaboration with the American University of Bahrain as the culmination of a journey marked by dedication and perseverance, one that began during our time at the university—an environment that nurtured our ambitions dreams from the very start. This collaboration is a meaningful opportunity to give back to the institution that helped shape our path, by delivering advanced AI solutions that will support AUBH's ongoing growth and ensure it remains aligned with the rapid pace of digital transformation.'

BIBF CEO: Developing national AI talent is a cornerstone for digital-economic transformation
BIBF CEO: Developing national AI talent is a cornerstone for digital-economic transformation

Zawya

time8 hours ago

  • Zawya

BIBF CEO: Developing national AI talent is a cornerstone for digital-economic transformation

Manama – Dr. Ahmed Abdulhameed Al-Shaikh, Chief Executive Officer of the Bahrain Institute of Banking and Finance (BIBF), commended the launch of the National Policy for the Use of Artificial Intelligence, announced by the Information & eGovernment Authority (iGA), and the adoption of the GCC Guiding Manual on the Ethical Use of AI. He affirmed that this national policy represents a significant step in advancing Bahrain's vision to become a digitally empowered, innovation-driven economy. Dr. Al-Shaikh emphasised that building national capacity in artificial intelligence is a critical enabler of digital transformation. He noted that equipping Bahraini talent with AI-related skills and knowledge is essential to ensure the responsible, secure, and effective application of emerging technologies, in line with the ethical principles outlined in the GCC manual and Bahrain's national frameworks. He stated: 'The successful implementation of the AI Policy depends not only on regulation and infrastructure, but also on investing in people. At BIBF, we are committed to supporting the national AI agenda by offering academic and professional development programmes in areas such as artificial intelligence, machine learning, and data analytics - ensuring alignment with ethical standards and the future needs of the economy.' Dr. Al-Shaikh highlighted BIBF's ongoing efforts to develop specialised training programmes and workshops in collaboration with leading global partners. These efforts aim to equip Bahraini professionals with the skills required for the jobs of the future. Dr. Al-Shaikh noted that over the past two years, the BIBF has implemented a number of national initiatives in this field, including intensive programmes in artificial intelligence in partnership with local and international entities, in addition to 'AI Readiness' programme to train more than 5,000 Bahrainis over the next five years in AI skills and applications. Concluding his remarks, Dr. Al-Shaikh reiterated the importance of cooperation between government, academia, and industry to achieve the goals of the AI policy. He stressed that public confidence in AI - and its ethical and effective use - is built on education, awareness, and empowerment, all of which remain central to BIBF's mission.​​​​

Complex but critical: The GCC's shift to defined contribution plans
Complex but critical: The GCC's shift to defined contribution plans

Khaleej Times

time9 hours ago

  • Khaleej Times

Complex but critical: The GCC's shift to defined contribution plans

As the employment landscape across the Gulf Cooperation Council (GCC) grows and matures, it's imperative that the retirement systems which supports workers across the region grow too. It's increasingly clear that the traditional end-of-service gratuity (EOSG) model that has long underpinned retirement benefits in GCC countries must adapt as the region seeks to position itself as a magnet for global talent and investment. That means embracing Defined Contribution (DC) plans that align with international best practices and the expectations of a globally mobile workforce. The push for reform is gaining momentum. A 2024 survey by Smart found that 60 per cent of expatriates in the UAE, Saudi Arabia, and Qatar feel current EOSG payments fall short of meeting their retirement needs as it can be challenging for financial planning due to a lack of transparency. This sentiment underscores the importance of reforms to maintain the region's attractiveness to international talent – many of whom will have come from regions where DC models are widely available, if not the norm. Encouragingly, reforms are underway. In the UAE, the Dubai International Financial Centre's DEWS plan has already replaced EOSG with a regulated, employer-funded DC scheme. Not only this, but in late 2023, the UAE's Cabinet introduced a voluntary pension savings programme, allowing employers in the private sector and free zones to contribute a monthly percentage of salaries to licensed investment funds. These contributions are protected from employer insolvency and designed to outpace inflation. In the UAE at least, these early signs show us that clear transition is underway – and is likely to soon become much more widespread. Indeed, the situation is similar in other Gulf countries. Bahrain now requires monthly employer contributions to be managed by its Social Insurance Organisation. Oman's Social Protection Law signals a future move to a savings-based system. Saudi Arabia still largely operates under the traditional model, but leading companies are developing their own corporate savings schemes to stay ahead of the curve. Qatar, too, is likely to prioritise funded alternatives as it expands its retirement coverage beyond local nationals. A tipping point is likely to come when a sufficient number of products are in market. As more financial institutions increase their capabilities in the region, it's likely that would fundamentally shift how retirement is funded across the GCC and governments may mandate participation. We've seen this upscaling of firms' activity and resources in the Gulf region – including for our own operations. However, this transformation won't be without challenges. Regulatory harmonisation across GCC countries is complex, with each jurisdiction operating under different labour laws. Yet we know that consistency – across products, regulatory standards, etc. – is key to ensuring savers are empowered to arrive at the best outcomes. To realise this, we'll need to see legal reforms and cross-sector collaboration, factors which can ultimately lay the groundwork for consistent, transparent DC frameworks. For employers, a DC system brings new responsibilities — notably, regular contributions and administration oversight. But the long-term benefits, including improved talent retention and workforce satisfaction, outweigh the costs. And governments can support the transition by offering flexible contribution structures and incentives. Ultimately, the transition to DC systems is not just a financial reform; it's a social one. It's about ensuring that the region's workers — who have helped build the Gulf's economic success — can look to the future with confidence. The Gulf region needs to move towards a retirement system that's modern, relevant, and worthy of its global ambitions, supported by an expanding, sophisticated financial services industry across regional hubs. The writer is head of investment strategy and research, MEA, State Street Investment Management.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store