Dubai Centre for Family Businesses Boosts AI Skills of Next-Gen Leaders through GenAI Masterclass
Held under the umbrella of Dubai Chambers, the GenAI Masterclass brought together 24 young participants as part of the Next-Gen Family Businesses Training Programme. The interactive session aimed to deepen understanding of generative AI and its potential to drive innovation, efficiency, and sustainable growth within family-owned companies.
The training focused on real-world applications of AI technology, offering practical examples and tailored strategies relevant to Dubai's dynamic business landscape. Participants explored how AI can support long-term success while staying aligned with traditional family business values.
Launched in collaboration with PwC, the broader Next-Gen programme is designed to equip future leaders with the digital, technical, and leadership skills needed to navigate evolving global challenges and ensure the longevity of their enterprises.
The Dubai Centre for Family Businesses was established in May 2023 to support the growth and sustainability of the emirate's family business sector. Working alongside both public and private partners, the centre provides targeted support and initiatives to strengthen this key pillar of Dubai's economy.
News Source: Dubai Media Office
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
2 days ago
- Khaleej Times
Is artificial intelligence a game changer for GCC wealth management?
The GCC is particularly well poised to become a global leader in AI-driven wealth management, thanks to its robust AI ecosystems and visionary government investments. With the UAE and Saudi Arabia leading the charge, the region is not just embracing AI, it's shaping its future. According to a recent PwC report, AI could contribute up to $320 billion to the Middle East economy by 2030 . Microsoft's recent $1.5 billion investment in G42 , and their launch of the Responsible AI Foundation with the Mohammed bin Zayed University for Artificial Intelligence , suggest that world-leading corporations recognise that, where AI is concerned, the GCC is the place to be. Despite the region's immense private wealth, 70 per cent of it is managed offshore, leaving vast untapped potential. This gap represents both a challenge and an opportunity. By 2030, an estimated $1 trillion in assets is expected to be transferred generationally in the Middle East , presenting a unique opportunity for firms to capture younger, tech-savvy clients. For forward-thinking wealth management firms, this is a critical chance to redefine the industry and capture a new era of clients who are attracted to advanced digital solutions. As mainstream AI evolves from the generative models we've come to know through Chat GPT and DeepSeek to so-called 'agentic AI', we're witnessing a leap from creating to doing. This generation of AI doesn't just provide information or text, it can make decisions and execute actions as sophisticated assistants to enhance client and employee experiences. For advisers, AI assistants can streamline workflows and enhance expertise. They provide tailored information, build and optimize personalised portfolios, and identify actionable insights for clients—from portfolio adjustments and relevant products to emerging investment themes. They also save time by automating tasks like client meeting preparation, ensuring advisors can focus on strategic decision-making. For the less experienced, these tools accelerate access to professional knowledge, while seasoned advisors benefit from deeper market insights, client data analysis, and decision support. Together, this creates a world-class financial workforce ready to meet modern demands. For clients, AI assistants empower better financial decision-making. They improve financial literacy by explaining complex concepts, offering personalised recommendations, and providing updates about their portfolios and relevant opportunities through conversational interactions. This not only enhances individual outcomes but also strengthens the region's financial ecosystem, reinforcing the UAE's leadership in digital transformation and position as a global wealth management hub. This is not to mention that, through digital channels, AI-powered platforms increase accessibility, enabling financial institutions to reach and empower underserved segments and in turn increase investment, especially in GCC markets if regional firms pioneer the transition. With such transformative possibilities at hand, integrating AI into the core of wealth management will be essential to unlocking its full potential. Whether through retrofitting existing systems or launching new AI-native models, both approaches offer distinct advantages—and the opportunity to redefine the industry. For established firms and incumbent business models, integrating AI into their operations will result in greater operational efficiency and enhance their services while maintaining the human touch that is so vital in this industry. Meanwhile, firms that proactively re-invent their business models can embed AI at the core of their operations, enabling them to offer unparalleled services and gain market share from competitors who are slower to adapt. Whether AI is a game-changer leaves little doubt. Be it integration or recreation, both transformative approaches provide GCC wealth management firms with the opportunity to not only benefit themselves but redefine the economics of wealth management. With AI's ability to serve a larger client base with enhanced services at lower costs, the $8 trillion of private wealth that exists within the Middle East, Africa, and South Asia, and the UAE's already sizeable influx of high-net-worth individuals (HNWIs) only growing , incumbents that innovate stand to both pioneer and profit. By embracing proven AI technologies, GCC wealth managers have the opportunity to not only close the gap with global peers and bring more private wealth onshore but also to set new global standards for AI-driven wealth management. This shift has the potential to transform the wealth management landscape—both in the GCC and beyond. The writer is Chief AI Officer at Alpheya, a wealthtech platform.
Gulf Today
3 days ago
- Gulf Today
Dubai-Beijing Business Seminar explores avenues of cooperation
Dubai Chambers has successfully organised the Dubai–Beijing Business Seminar with the goal of enhancing trade and investment partnerships, building new economic opportunities between Dubai and Beijing, and fostering bilateral cooperation across diverse sectors. Hosted at Dubai Chambers' headquarters in partnership with the China Council for the Promotion of International Trade – Beijing, the seminar was attended by a Chinese delegation led by Sima Hong, Vice Mayor of Beijing, together with Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism. The event welcomed 130 business leaders, officials, and representatives of the private sector from both markets. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated: 'We remain committed to deepening economic and investment ties between Dubai and Beijing across a broad range of sectors. As part of these efforts, we are continuing to support the Chinese business community in capitalising on the significant opportunities Dubai offers as a gateway for regional and global expansion. Strengthening partnerships and driving collaborative initiatives between our business communities remains a key priority.' Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, delivered a comprehensive presentation during the seminar showcasing Dubai's economic landscape and competitive advantages for businesses and investors. The presentation also covered joint business opportunities between Dubai and China, as well as promising sectors for trade and investment cooperation. The seminar highlighted the growth of trade between Dubai and China. Non-oil bilateral trade reached a value of approximately AED 296.3 billion during 2024, achieving annual growth of 19%. By the end of June this year, more than 6,000 Chinese companies were registered as active members of Dubai Chamber of Commerce, underlining the growing interest in Dubai as a global business destination. The depth of Dubai–China ties is also reflected in Dubai Chambers' decision to host the first international edition of the Dubai Business Forum in China, which took place in Beijing in August 2024. Held under the theme 'China, Dubai and Beyond: Igniting Global Trade and Investment,' the event showcased Dubai's competitive advantages, strategic initiatives, and investment-ready opportunities for the Chinese and global business communities. On the sidelines of the forum last year, Dubai Chambers signed a Memorandum of Understanding with the China Council for the Promotion of International Trade – Beijing to support the expansion of trade relations and strengthen bilateral ties between the business communities in both markets to advance their shared goals. In May, Dubai Chambers has announced that it will organise the Dubai Business Forum – China in Beijing from 21st to 22nd August this year. The event will be the first in a series of international editions of the forum, which will be hosted in prominent financial and business cities around the world to highlight the promising opportunities created by the Dubai Economic Agenda (D33). The initiative comes as part of the chambers' ongoing efforts to encourage foreign direct investment, support the objectives of the Dubai Economic Agenda (D33), and consolidate Dubai's position as a leading global business destination. By hosting the Dubai Business Forum – China, Dubai Chambers aims to showcase the diverse investment opportunities available in the emirate, attract multinational companies and fast-growing startups from China to Dubai, and support Chinese investors and companies in establishing impactful partnerships with their counterparts in the emirate, as well as drive growth in bilateral trade and investments. The event will feature a variety of sessions and panel discussions focusing on key sectors that align with Dubai's economic agenda, including the digital economy, healthcare, finance, retail, tourism, travel, and real estate. Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber, commented, 'Dubai has established a reputation among the global business community as one of the world's leading destinations in terms of creating opportunities and building fruitful partnerships. The emirate is continuing to enhance its position as an attractive choice for international investments due to its numerous competitive advantages, close relationships with countries across the globe, and world-class business environment, which offers ideal conditions for growth and expansion.' He added, 'By organising the forum, Dubai Chambers has succeeded in creating an impactful platform that will further strengthen the emirate's position as a leading global hub for business, trade, and investments. China is the ideal destination to launch the first international edition due to its key role in the global economy as a centre for industry, commerce, and advanced technologies, as well as the well-established and growing economic relations between Dubai and China at all levels.'Agencies
Khaleej Times
3 days ago
- Khaleej Times
AI, climate resilience could boost Mideast GDP by $232b: PwC
Strategic adoption of artificial intelligence (AI) and bold action on climate resilience could boost the Middle East's gross domestic product by as much as $232 billion by 2035, according to new research by PwC. The report identifies the UAE as a key driver of this transformative growth, thanks to its early investments in AI infrastructure, strong climate commitments, and leadership in renewable energy. Titled Value in motion: The Middle East's time to lead is now, the PwC report outlines three future economic scenarios for the region, showing how decisive leadership in AI and sustainability can unlock a new era of tech-enabled prosperity. Under the most ambitious outlook, regional GDP could reach $4.68 trillion by 2035, compared to $3.57 trillion today — an increase of over $1.1 trillion. However, this optimistic trajectory hinges on two critical levers: widespread, responsible AI adoption and a proactive approach to climate adaptation. Without intervention, the region could suffer a GDP hit of up to 13.9 per cent due to escalating climate risks such as extreme heat, water scarcity, and flooding. On the flip side, PwC's modelling shows that AI alone could contribute 8.3 per cent to GDP growth through productivity gains across sectors. The UAE, already recognised for its forward-looking digital agenda, is positioning itself as a pioneer in this dual transformation. Home to the world's first Ministry of Artificial Intelligence and one of the lowest-cost renewable energy ecosystems globally, the UAE is uniquely placed to lead the convergence of digital and sustainable development. Stephen Anderson, chief strategy and technology officer at PwC Middle East, emphasised that the coming decade will test the region's readiness to embrace profound structural change. 'As the dynamics of the 'three tomorrows' unfold — technology disruption, climate urgency, and cross-sector transformation — they will reshape the Middle East's economy,' he said. 'To stay ahead, businesses and governments must act with pace, purpose, and partnership.' The research introduces a new framework centered on what PwC calls 'domains of growth' — interconnected ecosystems that move beyond traditional sectors and reflect how societies will meet core human needs in the future. These include how we move, build, fuel, care, compute, and connect. In this context, the UAE's multi-sectoral initiatives — from AI-powered healthcare and autonomous transport to clean hydrogen and 5G infrastructure — offer a real-time blueprint for regional reinvention. Dr Yahya Anouti, partner at Strategy& and PwC Middle East's sustainability platform leader, stressed the importance of balancing AI scalability with energy availability. 'A critical factor will be how effectively the region aligns the cost and scalability of AI with the availability of clean energy to power it. This balance is essential as AI demand accelerates at an unprecedented pace,' he noted. The report argues that the Middle East — especially countries like the UAE and Saudi Arabia — can not only adapt to emerging global shifts but lead them, if they align institutional innovation, private-sector reform, and talent development. Governments are urged to reconfigure ministries to meet evolving societal needs — such as establishing departments focused on mobility, care, or digital governance — and to create public funds aimed at fast-tracking AI adoption. Analysts noted that businesses in the region are encouraged to localise supply chains, redesign operating models for a low-carbon digital economy, and form cross-sector partnerships. Academic institutions are also called on to develop future-ready talent by embedding AI, climate studies, and entrepreneurship into their curricula while fostering applied research. The UAE's recent moves reflect this holistic approach. In May, the government unveiled plans to deploy AI across education, logistics, and public safety. Simultaneously, Abu Dhabi is ramping up investment in clean hydrogen, while Dubai has launched initiatives to equip one million people with AI skills by 2030. Global tech firms are also taking note. Microsoft, Google, and Amazon Web Services have all expanded their cloud infrastructure in the UAE, citing the country's stable regulatory environment and clean energy availability as decisive factors. With AI data centers requiring immense energy input, the UAE's solar and nuclear assets offer a sustainable edge. The report underscores that while the opportunity is vast, the clock is ticking. The Middle East's path to $4.68 trillion in GDP by 2035 is not guaranteed — but it is within reach, if nations seize the moment. 'The value is already in motion,' the PwC report concludes. 'Now is the time to act.'
