Good morning, wonderful people. We have a busy issue for you this morning, packed with blockbuster earnings from UAE giants Emirates Group and Adnoc Drilling, plus some big AI news…

WATCH THIS SPACE-

#1- UAE launches new AI model that “outperforms” Meta’s Llama 3: The applied research division of Abu Dhabi’s Advanced Technology Research Council (ATRC), the Technology Innovation Institute (TII), has rolled out its new open-source GenAI model, Falcon 2 series, TII said in a statement.

The series includes two open-source models: Falcon 2 11B, a text-based model, and Falcon 2 11B VLM, the only vision-to-language model capable of converting images into text in the market, according to TII.

Abu Dhabi’s model outperforms big tech’s: The new AI model outperformed Meta’s Llama 3, and was on par with Google’s Gemma, TII says, citing US-based platform Hugging Face. “We were able to achieve way higher performance than a lot of the bigger guys, and at a fraction of their compute and a fraction of their team size,” Faisal Al Bannai, the secretary general of the ATRC, told Bloomberg in an interview.

What can it do? The new VLM model supports English, French, Spanish, German, and Portuguese. “Analyzing an X-ray of someone’s chest, analyzing a document for education, analyzing a construction document — we’re trying to focus on very clear enterprise use cases that can have a serious impact,” Al Bannai said.

What’s next? A third version of the AI model will be launched within the next two months, Al Banni said.

The story also got ink in Reuters.

AND- Core42’s bilingual chatbot is now available on iOS (sorry, Android users): Core42, subsidiary of state AI company G42, has launched a new version of its bilingual chatbot, Jais, as a mobile app on iOS, state news agency Wam reports. The AI model operates using 126 bn Arabic tokens, 251 bn English tokens, and 50 bn code tokens, “rivaling top-performing English language models of a similar size.”

A step towards global AI democratization: “With its Arabic-first approach, JAIS reshapes how bilingual individuals interact with technology, and with JAIS Chat for mobile, we are delivering the next advancement in our mission to democratize AI access for the world,” Chief AI Officer at Core42 Andrew Jackson said.

What’s next? Jais Chat will be updated with features, including document processing, customizable user settings, and voice conversation. Planned updates also include an enterprise subscription model tailored to businesses with specialized advanced features.

Want to try it for yourself? You can download the app without charge here.

#2- Abu Dhabi’s Department of Community Development is set to introduce exclusive benefits for Abu Dhabi citizens nearing marriage under its Medeem Initiative, according to an Abu Dhabi Media Office statement. Members of the Medeem Center will be eligible for the Medeem Exclusive Card, offering benefits from the social initiative Fazaa, including reduced charges on wedding expenses such as venue rentals, music bands, photography, lighting, sound systems, and decorations.

PUBLIC SERVICE ANNOUNCEMENTS-

WEATHER- Brace yourselves for another sweltering hot day, especially if you’re in Dubai — where the mercury is set to hit 41°C before cooling to an overnight low of 31°C. It will be slightly cooler over in Abu Dhabi, where temperatures are expected to hit 38°C, with an overnight low of 28°C.

Dubai’s Roads and Transport Authority (RTA) launched its seasonal network schedule for the summer, which will see all its maritime transport services and lines, including Dubai Ferry, Abra, and Dubai Water Taxi, operating based on an updated seasonal schedule, a statement reads. The network utilizes data to analyze daily passenger patterns according to the season.

DATA POINT-

Dubai saw 11 new hotels open in 1Q 2024, offering up over 1.8k rooms, and bringing the total number of hotels operating in the emirate to 832, according to data from Dubai’s Department of Economy and Tourism. The total number of hotel rooms offered in the emirate rose 1.2% y-o-y to 152.2k.

HAPPENING TODAY-

#1- The Abu Dhabi Global Healthcare Week kicked off yesterday and wraps tomorrow at the Abu Dhabi National Exhibition Centre. Hosted by Abu Dhabi’s Department of Health, the event will bring together around 5k attendees, 100 exhibitors, and 1k delegates specialized in healthcare. Featured topics include AI, biotech, and genomics. You can find the event brochure here (pdf).

HAPPENING THIS WEEK-

#1- US Energy Secretary Jennifer Granholm touches down in the UAE today for her first diplomatic trip to the country, focusing on climate cooperation and energy diversification in the region, Reuters reports citing two Biden administration officials. Granholm will also be heading to Saudi Arabia, with her trip wrapping on Thursday, one of the sources said.

Discussions will cover topics like climate collaboration, energy diversification, and global oil production, though Granholm will reportedly not discuss oil policy during this visit. The visit will also involve participation in a meeting of the Net-Zero Producers Forum, which aims to reduce emissions and advance clean energy initiatives.

What’s the Net-Zero Producers Forum? Launched in 2021, it’s part of a bid to boost cooperation between some of the biggest global oil producers on methane abatement, carbon capture, and use and storage technologies. Founding members include Saudi Arabia, the US, Canada, Norway, and Qatar. The UAE joined the group in 2022. NPF members account for 45% of global oil production and 40% of natural gas production, according to the US Energy Department website.

#2- Dubai will host The Airport Show from today through to Thursday, 16 May at the Dubai World Trade Center. The event brings together airport suppliers, airport service providers, aviation executives, and regional decision makers to explore current innovations and new technologies.

#3- Seamless Middle East kicks off today at the Dubai World Trade Center, and run until Thursday, 16 May. The three-day event includes a conference welcoming over 500 speakers to cover the latest trends, market disruptors, and technologies in digital commerce, and a multi-brand exhibition hosting over 700 exhibitors in the digital commerce industry.

#4- The Gulf Petrochemicals and Chemicals Association Supply ChainConference kicks off on Wednesday and will wrap on Thursday, 16 May, at the Address Sky View Hotel in Dubai. The conference will bring together industry players under the theme Harnessing Connectivity for a Sustainable Tomorrow, discussing supply chain connectivity and AI integration in the industry.

#5- The Acres Real Estate Exhibition is set to kick off on Thursday, and will run until Sunday, 19 May, at the Dubai World Trade Center. The event will gather leading property developers, investors, brokers, and experts, to showcase the latest projects and technologies in the real estate industry.

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OUR NEXT CONFERENCE IN CAIRO-

Foreign investors are falling in love with Egypt again… Foreign investors we speak with (debt, equity, and strategic alike) have growing appetite for Egypt. They’re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that’s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: It’s a massive consumer opportunity and a regional export hub of tomorrow.

The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: Spark conversations about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy — and provide an early, actionable roadmap for those who are “long Egypt.”

We’ll be talking with you about the agenda over the coming couple of weeks. It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow’s opportunities — and who aren’t afraid to answer some tough questions.

*** Interested in attending? Tap or click here to let us know. Seating is limited.

THE BIG STORY ABROAD-

It’s a really, really tech-heavy morning in the business press: Reviews are out for the iPad Air and iPad Pro models that Apple announced last week, ChatGPT maker OpenAI released a voice-assistant-like product that will chat with you in the (unauthorized, dystopian) voice of Scarlett Johansson in Her.

Up first: the Google I/O developer conference starts this morning. The Mountain View company is expected to announce (you guessed it) a new AI-powered voice assistant and a bunch of other Android goodies.

Consider it the prelude to a few very tech-heavy weeks: Microsoft’s Build conference runs next week (21-23 May) and could see Redmond announce an AI-powered search app based on ChatGPT, and then all eyes turn to Cupertino for Apple’s WWDC, at which the tech giant will unveil new versions of its various operating systems with plenty of AI baked in. Pundits will be watching to see how much of the AI goop Apple layers onto its OSes is homegrown and how much is licensed from ChatGPT or Google — it’s in talks with both.

Meet Her: OpenAI is actually calling it Chat-GPT4o (the letter ‘o’ at the end, not a zero) and it lit our X and Threads on fire for sounding exactly like Scarlett Johansson in Her, a movie in which a character falls in love with an AI voice assistant. You chat with GPT4o using your voice — and it can turn on your device’s camera to have a look around if it’s relevant to your ‘conversation.’ And unlike the current incarnation of Siri, it appears pretty seamless.

You can try it now for yourself: Head here to learn more or listen to a demo. If you already have a subscription to ChatGPT and have it running in a browser, do a hard refresh and then hit the dropdown menu on the top left to choose ChatGPT-4o.

The story is everywhere: The Verge | Financial Times | Wall Street Journal | Reuters | CNBC

You can already feel the ennui in this CNBC headline: AI may not replace you, but someone who uses it can — here’s the No. 1 skill you need to stay relevant.

REVIEWS- So, should you buy a new iPad? Will the device be transformed in a few weeks’ time by the unveiling of a new iPadOS that makes it as Mac-like as the new keyboard case now on sale for the Pro model? In search of answers, we bring you:

CLOSER TO HOME- Israeli troops have been let loose in both the north and south of Gaza and Israel has proposed that the Palestinian Authority should run the Rafah border crossing, which Israeli troops took over last week.

CIRCLE YOUR CALENDAR-

TheMiddle East Petroleum and Gas Conference is set to take place from 20-22 May in Dubai, hosted by the Emirates National Oil Company and under the organization of S&P Global Commodity Insights. The theme of the conference is “Evolving Core Energy Markets within a Sustainable Landscape.”

The International Exhibition of National Security and Resilience2024 Conference is happening on 21-22 May 2024 at Adnec Abu Dhabi, coinciding with the International Exhibition of National Security and Resilience, Wam reports. The conference is set to gather top CEOs, leaders, and experts from different fields to discuss security challenges and promote strategic partnerships.

The Dubai Business Forum in Beijing, China is set to take place between 21-22 August, Wam reports. Hosted by Dubai Chambers, the event aims to attract foreign direct investments by presenting investment prospects.

The Mohammed Bin Rashid Space Center is set to host Geo-Spatial Week from 6-11 April 2025 in Dubai with the International Society for Photogrammetry and Remote Sensing, according to a Dubai Media Office statement. The week-long event will welcome experts in photogrammetry, remote sensing, and spatial sciences.

The Global Wish summit is set to take place from 3-4 June 2025 in Abu Dhabi, after Make-A-Wish International selected the emirate to host its annual conference, Wam reports. The forum seeks to fulfill the wishes of children with life-threatening illnesses.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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