Search Site

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

Artificial intelligence will add $10 trillion to global economy: IBM CEO

Arvind Krishna (L), Chairman and CEO of IBM, at a panel discussion with Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications. Emirates News Agency
  • Arvind Krishna, Chairman and CEO of IBM, was speaking at the World Government Summit 2022
  • He warned that the planet lacks skilled people to keep up with the pandemic-induced disruptions

Arvind Krishna, Chairman and CEO of IBM, said that artificial intelligence (AI) will add up to $10 trillion to the global economy in the next decade.

Greater adoption of AI in the UAE could also add up to $200 billion in productivity gains by 2030, Krishna told Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, at the World Government Summit 2022.

The leader of the US tech giant claimed AI would transform the world economy, after warning that the planet lacks skilled people to keep up with the pandemic-induced disruptions caused to workplaces everywhere.

Speaking during a one-on-one panel entitled The Next Big Merger: Governments and Technology, Krishna said: “I fundamentally believe that AI offers over US$10 trillion dollars of productivity to the world.”

He added: “If you think about GDP increase, this could be anywhere between 10, 20, or 30 percent. But we have to do this carefully, we have to harness the skills and deploy it in the right manner.”

Omar bin Sultan said that the UAE’s talent pool would be boosted by India’s decision to set up the first Indian Institute of Technology (IIT) in Abu Dhabi.

The arrival of the prestigious technology school, which has produced some of the world’s leading tech entrepreneurs, is one of the outcomes of the historic India-UAE Strategic Partnership signed in February.