DEWA hosts the First Trade Trade Day in collaboration with the World Financial Discussion board, for the first time on the planet
HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electrical energy and Water Authority (DEWA), has inaugurated the First Trade Trade Day, hosted by DEWA and organised by the World Financial Discussion board (WEF) for the primary on the planet. That is a part of DEWA’s efforts throughout the 12 months of Sustainability within the UAE, and its strategic partnership with the biggest worldwide organisations. The occasion was attended by HE. Omar Sultan Al Olama, Minister of State for Synthetic Intelligence, Digital Financial system and Distant Work Functions; HE. Khalfan Belhoul, Chief Govt Officer, Dubai Future Basis; and Mirek Dušek, Managing Director, World Financial Discussion board. Round 50 C-level executives from native, regional and international organisations from the federal government and personal sectors attended the occasion, which was held at Armani Resort in Dubai.
A worldwide hub for the 4IR
HE Omar Sultan AlOlama, Minister of State for Synthetic Intelligence, Digital Financial system and Distant Work Functions, emphasised the UAE’s place as a outstanding international hub for fostering Fourth Industrial Revolution options and leveraging them to drive complete digital transformation. This strategic pursuit aligns with the visionary targets of the management, which prioritises the institution of a thriving digital financial system. The UAE’s success on this endeavour is bolstered by a complicated digital infrastructure, together with a supportive regulatory and legislative framework that fosters and catalyzes the expansion of the digital financial system.
Throughout the session discussing the UAE’s imaginative and prescient for the digital financial system, AlOlama highlighted the nation’s ongoing dedication to drive the method of digital transformation. This dedication is demonstrated by means of strategic deal with a number of essential areas, together with skill-building, fostering digital capabilities, selling innovation, fostering entrepreneurship, and supporting digital startups. These efforts goal to facilitate the widespread adoption of digital foundations throughout varied segments of society, alongside a deal with enhancing digital literacy. Recognising the fast development of know-how and the transformative potential of synthetic intelligence options, digital literacy stands as a key precedence within the present period.
Al Olama added that the UAE Authorities reinforces its technique by creating partnerships and establishing cooperative frameworks with governments and establishments worldwide. This goals at facilitating the change of success tales, data, and experiences. Recognising that knowledge-sharing serves as a basic catalyst for the success of initiatives, the UAE locations nice significance on these collaborations in fostering readiness for future.
Strategic cooperation
In his speech, HE Saeed Mohammed Al Tayer recommended the World Financial Discussion board for organising the primary Trade Trade Day, which is a part of the strategic cooperation between DEWA and the World Financial Discussion board. DEWA has partnered with WEF’s Centre for the Fourth Industrial Revolution. It was the primary authorities utility to affix the San Francisco-based centre, which incorporates worldwide organisations, as a part of DEWA’s efforts to maintain tempo with the Fourth Industrial Revolution and develop disruptive applied sciences within the energy and water sector.
Al Tayer famous that the timing of this convention was very acceptable since Dubai is experiencing the constructive aftermath of a exceptional World Expo and DEWA’s success as the biggest utility itemizing on the planet, having attracted over US$ 85 billion in worldwide investor demand, representing an oversubscription of 37 instances. This was carefully adopted by the profitable itemizing of Empower, its majority-owned subsidiary and the world’s No.1 district cooling firm by put in capability,
In his speech, Al Tayer shared DEWA’s technique of transition to inexperienced power, its dedication to superior and progressive applied sciences and leveraging digitalisation alternatives in all enterprise operations, which lie on the coronary heart of DEWA’s exceptional success story. It has helped DEWA to determine world-leading benchmarks in availability, reliability and effectivity of the era, transmission & distribution infrastructure constructed at a price exceeding AED 210 billion.
“With the imaginative and prescient, steerage and limitless help of the sensible management of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE is getting ready to host the biggest worldwide local weather occasion, which is the Convention of the Events to the United Nations Framework Conference on Local weather Change (COP 28) in Dubai Expo Metropolis later this yr. At DEWA, we promote sustainability, innovation and future-shaping in all our tasks and initiatives to realize the targets of the Dubai Clear Vitality Technique 2050 and the Dubai Web Zero Carbon Emissions Technique 2050 that search to supply 100% power from renewables. We imagine that innovation, applied sciences of the Fourth Industrial Revolution, digital transformation and the round financial system will play a key position in reaching this bold objective,” mentioned Al Tayer.
“Data is energy. We launched the world’s largest carbon-neutral inexperienced Information Centre at Mohammed bin Rashid Al Maktoum Photo voltaic Park beneath our subsidiary, Digital DEWA, as confirmed by Guinness World Data. AI and digital options are the muse for good, safe and sustainable future cities. Good companies adoption by our prospects has reached over 99%, and DEWA was just lately positioned within the prime place of world utilities within the independently ready Digital Quotient Report 2022. Therefore, we see a decisive position for Digital DEWA in shaping a brand new digital future for Dubai. We began utilizing AI in 2017 by growing a roadmap to complement the experiences of our prospects, workers and different stakeholders. We at the moment are working to boost our companies with ChatGPT know-how. DEWA is the primary utility globally and the primary UAE authorities entity to make use of this new know-how,” added Al Tayer.
“DEWA has just lately launched its ‘DEWAVerse’ platform on the Metaverse, being the primary native authorities organisation to serve prospects, workers and members of society innovatively. We imagine this know-how will help the event of tasks that may contribute to enterprise development, improve effectivity, scale back prices and contribute to stakeholder happiness. To boost the operational effectivity and effectiveness of electrical energy and water networks, we now have launched two nanosatellites: ‘DEWA SAT-1’, which is a 3U nanosatellite and ‘DEWA SAT-2’, which is a 6U nanosatellite, as a part of DEWA’s house programme (Area-D). DEWA is the primary utility on the planet to make use of nanosatellites in its operations. We additionally use massive knowledge by means of sensors in solar energy stations that collect real-time knowledge and analyse it along side knowledge from our satellites,” mentioned Al Tayer.
“With the growing challenges related to local weather change, there’s a want for critical international cooperation to guard the atmosphere and pure sources and advance the worldwide sustainability agenda. I’m assured that this discussion board might be an essential milestone in local weather motion, enhancing cooperation, exchanging experiences and greatest practices amongst varied trade sectors, growing new methods to beat present challenges with fashionable applied sciences to create a sustainable world for future generations,” concluded Al Tayer.
Dubai’s and the UAE’s management
HE Khalfan Juma Belhoul, CEO of Dubai Future Basis, emphasised that organising this occasion displays the significance of the strategic partnership between the World Financial Discussion board, and Dubai and the UAE over the previous years. This partnership has led to quite a few international tasks and initiatives, together with the Centre for the Fourth Industrial Revolution UAE (C4IR UAE), which is overseen by DFF. The centre goals to make use of the newest future applied sciences in varied key sectors and change experiences and profitable practices to design a greater future for your complete world.
Throughout his participation within the First Trade Trade Day, Belhoul highlighted probably the most urgent present and future challenges and the potential of adopting metaverse purposes in authorities companies, economies, and communities. He identified the significance of encouraging and supporting the personal sector to contribute extra considerably to the digital and technological transformation at a number of ranges. He additionally showcased the important thing components of Dubai’s and the UAE’s management in adopting and growing future purposes and boosting digital infrastructure to boost readiness for the long run domestically and globally.
Collaboration between authorities and the personal sectors
“Applied sciences corresponding to Synthetic Intelligence and Web3 current enterprise leaders with essential alternatives to remodel industries and tackle important challenges together with local weather change. Realising these alternatives, whereas additionally adequately addressing the attendant challenges and dilemmas, requires shut collaboration between authorities leaders and the personal sector. The World Financial Discussion board gives a platform for such cooperation and dialogue to take form and we’re delighted we have been in a position to make a contribution on this respect right this moment right here in Dubai along with DEWA,” mentioned Mirek Dušek, Managing Director, World Financial Discussion board.
Numerous matters and panel discussions
The First Trade Trade Day featured totally different dialogue panels and workshops on varied matters in AI and digital transformation, with the participation of officers and consultants from native, regional, and worldwide organisations from the federal government and personal sectors. Subjects lined on the occasion included: ‘MENA’s imaginative and prescient for the Digital Financial system’, ‘Digital Transformation in MENA’, ‘Overcoming challenges by means of know-how’, ‘Metaverse – why ought to my enterprise care?’, ‘UAE’s imaginative and prescient for the Metaverse’, ‘Know-how purposes to speed up power transitions in industries’, and ‘Overcoming Challenges: Generative AI’. The First Trade Trade Day additionally highlighted DEWA’s management in digital transformation and the ‘DEWAVerse’ platform it launched as a profitable position mannequin for digital innovation within the utility sector.
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