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Rishi Sunak eyes AI Summit as chance to reclaim pioneering role for UK


Rishi Sunak has spent months saying he wants the UK to lead the world in developing and regulating artificial intelligence. That strategy is finally taking shape.

The prime minister plans a summit later this year that aims, for the first time, to bring together world leaders and top AI executives in an event that’s supported by Joe Biden. The US president and other G7 leaders, along with tech chiefs including OpenAI chief Sam Altman, Microsoft CEO Satya Nadella, Anthropic’s Dario Amodei and DeepMind CEO Demis Hassabis are expected to be invited, said people familiar with the plans.

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In a sign of Sunak’s vision, officials are eyeing Bletchley Park as a possible venue: the country house between the research hubs of Oxford and Cambridge was where British code-breakers including Alan Turing cracked Germany’s Enigma code during World War II in an early demonstration of computational power.

There is a debate on whether to invite China amid concerns it may be hard to reach agreement with the Asian nation on AI regulation, said the people, who asked not to be identified because the information isn’t public.

At stake is the future of a rapidly-developing area of computing that has the potential to speed up medical diagnoses and cut transport emissions but could also be used for nefarious purposes such as rigging elections and spreading false information. The $40 billion generative AI market could increase 30-fold over the next 10 years, according to estimates by Bloomberg Intelligence.

“The UK is showing that it can have a leadership role between China, the US, and Europe, said Brent Hoberman, co-founder of travel site lastminute.com and tech-focused events business Founders Forum. “It’s not just about reining it in, it’s also about making the UK a center of talent for AI and of adoption.”

For the UK, it’s a rare opportunity post-Brexit to make a mark on the global stage in the development of a truly transformative new technology.

While Sunak has said AI needs “guardrails,” what shape that takes has yet to be defined. Officials familiar with the matter told Bloomberg that areas the UK wants to look at include setting a threshold of computing power — measured in Floating Point Operations Per Second, or FLOPs — above which AI chips would be regulated, and using watermarks to identify material generated by AI.

Also up for discussion is whether and how to monitor who’s buying the most powerful chips from semiconductor design companies such as Nvidia Corp., according to the people. The US is already working to tighten export controls around sales of such chips to China.

The UK government said in a statement that the summit in the fall would bring together “key countries, as well as leading technology companies and researchers, to drive targeted, rapid international action.”
The government is preparing to announce fuller details of the conference, including its date, location, and invitees, in the coming weeks, the people familiar with the matter said.

The summit aims to “create a shared understanding of those risks and a platform for global cooperation on thinking about how to mitigate them,” Entrepreneur First Chief Executive Officer Matt Clifford, who’s helping prepare the summit, said in a Bloomberg Radio interview.

Clifford, who’s also chairman of the Advanced Research and In-novation Agency, the UK’s equivalent to the US Defense Advanced Research Projects Agency, wouldn’t comment on whether China would be invited, but said “in any global technology where you have both global risks and global consequences, it’s going to be important to take a genuinely international perspective.”

Still, there is some wariness about China. A panel of MPs warned earlier this year that China is using both investment and espionage to target telecommunications, artificial intelligence and engineering in Britain.

Sunak, a Stanford graduate who spent years studying and work-ing in California’s Silicon Valley, has vowed to make the UK a science “superpower.” British influence in AI regulation can feed into that even if the UK lacks the economic heft of its allies: its £1 billion plan to bolster domestic semiconductor development, for example, was dwarfed by the US $50 billion and EU’s €43 billion ($47 billion) proposals.

Major AI companies are firmly established in the UK. Alphabet Inc.’s DeepMind has its headquarters in Britain and OpenAI and Anthropic are opening London offices. Home-grown players include Synthesia, Graphcore, and Stability AI.

For now, western governments are feeling around on AI rules. Biden’s administration has asked firms to ensure the technology doesn’t lead to harm, but for now, commitments are voluntary. Congress has spent months trying to better understand AI before drafting any legislation.

The European Union is set to become the first Western govern-ment to regulate AI, with policymakers negotiating legislation potentially by year-end. Even so, it’s unlikely they would take effect for at least a couple of years. Sunak, for his part, has yet to flesh out his proposed guardrails into rules or laws.

China, too, is taking action, trying to balance state control of the technology while allowing its firms to become viable global competitors.

The aim of Sunak’s summit is “not to say that the UK has the right solution, which it wants the rest of the world to adopt,” said Clifford. “It’s to provide a platform for the conversation about what needs to be global and international and where will domestic regulation be enough.

Read more:

White House guidelines for Artificial Intelligence aim to mitigate harm

A look at how Europe is building artificial intelligence guardrails

EU seeks global standards for artificial intelligence, civil rights groups fret

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fischer Shares Insights on the Future of Construction at the International Expert Forum

The fischer Group of Companies, a renowned German multinational manufacturer
specializing in fastening products for the construction and DIY industry, hosted its second
International Expert Forum (IEF) at the H Hotel, Sheikh Zayed Road, Dubai. The event
gathered industry leaders, partners, and experts to explore advancements in construction,
focusing on sustainability, innovation, and digital transformation.
The forum emphasized fischer’s commitment to sustainable construction practices. Attendees
were introduced to the company’s latest eco-friendly solutions, aligning with global efforts to
reduce the environmental impact of the industry.”We are thrilled to host the IEF in Dubai, a
city recognized for its forward-thinking growth” said Dr. Ronald Mihala from fischer
“fischer is dedicated to driving the future of construction through innovation, digitalization,
and sustainability.”
Operating through 52 subsidiaries with over 4,700 employees, fischer reaffirmed its
commitment to sustainable growth and international expansion. A key focus of the forum was
innovation and digitalization as the future drivers of construction, with speakers discussing
cutting-edge technologies and their applications.Highlights included:

 Dr. Ronald Mihala and Dr. Oliver Geibig on BIM Integration: They showcased
how fischer leverages Building Information Modeling (BIM) to improve
collaboration, minimize waste, and streamline project management globally.

 Prof. Konrad Bergmeister on The Future of Construction: Emerging technologies
were discussed as the catalysts for safer, more efficient, and sustainable construction
environments.

 Prof. Ashraf Biddah and Dr. Máté Tóth on Repair & Strengthening of
Structures: Prof. Biddah presented innovative methods for rehabilitating aging
infrastructure. Dr. Tóth introduced fischer’s carbon fiber-based solutions, highlighting
the REINFORCE-FIX software for optimized retrofitting.

The forum also unveiled fischer’s latest products, designed to meet the industry’s evolving
needs with a focus on sustainability, efficiency, and advanced technology integration. The
event underscored fischer’s role as a global leader, committed to providing forward-thinking
solutions for the challenges of tomorrow.

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Shurooq’s beachfront project Ajwan Khorfakkan attracts strong investor interest at Sharjah Investment Forum 2024

The Sharjah Investment and Development Authority (Shurooq)
showcased its key projects, including Ajwan Khorfakkan, Maryam Island, and Sharjah Sustainable
City, at the 7 th edition of the Sharjah Investment Forum held on 18-19 September, under the
patronage of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme
Council and Ruler of Sharjah.
During the forum, a key highlight was the exhibit featuring Shurooq’s residential project Ajwan,
located in the picturesque city of Khorfakkan. With its strategic location, breathtaking views of the
Gulf of Oman, and majestic mountains, the project seamlessly blends natural beauty with elegant
living spaces.
During the two-day forum, Shurooq’s exhibit garnered significant interest from investors seeking
projects with strong ROI potential and desirable locations for holiday homes or weekend retreats.
Ajwan aims to create a thriving community, offering a blend of hospitality, retail, residential, and
entertainment options, all designed to cater to families and those in search of memorable
experiences.
H.E. Ahmed Obaid Al Qaseer, Chief Executive Officer of Shurooq, said: “We are delighted to see
growing interest in our projects such as Ajwan at the Sharjah Investment Forum 2024. As one of our
flagship projects, Ajwan stands out due to its thoughtful design and prime location, making it one of
our most appealing beachfront developments. Beyond being a significant investment opportunity,
what I value most about this project is its serene environment, which is thoughtfully designed to
promote peace, positivity, and well-being for its residents. Diverse projects such as Ajwan, Sharjah
Sustainable City, and Maryam Island—each designed to elevate the standards of sustainable and
luxury living in Sharjah—show how Shurooq supports Sharjah’s strategic vision. The forum provided
a valuable opportunity for Shurooq to showcase our commitment to developing impactful,
sustainable projects that enhance quality of life while also creating attractive investment
opportunities for investors from different parts of the world.”
Over the past months, Ajwan has garnered significant investor attention primarily due to its key
features, including competitive prices, high-quality living, a strategic location, and attractions for all
ages. Its residential buildings, Al Joon and Saahil, with captivating views, have become so popular
that only a few units are left for sale. The project also features a first-of-its-kind waterpark in the
eastern region of the UAE and is just a 5-minute drive from Khorfakkan’s main attractions such as
the waterfall and amphitheater.
Ajwan’s first phase consists of 79 units, with two-bedroom apartments ranging from 127 to 231 m²
and prices starting from AED 1,899,000. The three-bedroom apartments, ranging from 168 to 289
m², are offered at a starting price of AED 2,099,000. The three-bedroom duplex apartments measure
235 to 275 m² and start from AED 3,799,000. Four-bedroom apartments extend over 225 to 369 m²,
with prices beginning at AED 2,799,000. The four-bedroom duplex apartments cover 272 to 312 m²

and are available from AED 4,199,000. The project is slated to
be completed in the last quarter of 2026.

During the forum, Shurooq also showcased its Maryam Island project—a mixed-use development
featuring 20 residential buildings comprising over 3,500 homes. Spread over a massive 3.3 million sq.
ft. area, the waterfront destination will offer unrivaled vistas of Al Mamzar Beach and Al Khan
Lagoon. The project is due for completion in 2026.
In addition, visitors to Shurooq’s exhibit learned about Sharjah Sustainable City, the first sustainable
master-planned residential community developed by Shurooq in partnership with Diamond
Developers. This development has become one of the most sought-after residential communities,
nearly sold out with only a few villas remaining. It recently surpassed AED 2.5 billion in sales across
all four phases, with the final phase scheduled for completion in 2025.
Organized by the Sharjah FDI Office (Invest in Sharjah), under the theme ‘A Futuristic Vision for
Smart Economies,’ this year’s forum featured over 80 renowned global experts and included
workshops, panel discussions, and keynote speeches. The forum discussed the role of investments
and capital in directing AI systems to support global growth and enhance efficiency, flexibility, and
inclusiveness across various sectors, including real estate.

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Estithmar Holding Lists the First Corporate Sukuk in Qatari Riyals on London Stock Exchange

Estithmar Holding celebrated this morning the listing of its first Sukuk in Qatari Riyals on
London Stock Exchange, at the Stock Exchange’s headquarters. This is the first time that London
Stock Exchange has witnessed listing in Qatari riyals.
The market open ceremony for the listing of Estithmar Holding Sukuks was attended by Eng.
Mohammed bin Bader Al-Sada, Group CEO of Estithmar Holding, in addition to key executives
from the company, Mr. Shrey Kohli, Head of Debt Capital Markets and Issuer Services in
London Stock Exchange, members of the LSE team, and a group of media representatives.
The ceremony was also attended by representatives of the joint lead managers of the issuance
and Qatari financial institutions; Mr. Mohammed Ismail Al-Emadi, CEO of Lisha Bank, Mr.
Ahmed Hashem, acting CEO of Dukhan Bank, Mr. Akber Khan, acting CEO of Al Rayan
Investment and Mr. Haithem Katerji, CEO of The First Investor. The ceremony was attended
also by Mr. Charbel AbuCharaf, Managing Partner, White and Case Qatar in addition to
representatives of legal and consultancy firms.
Estithmar Holding recently announced its successful issuance of the first corporate Sukuk
denominated in Qatari Riyals, worth QAR 500 million, with an annual profit rate of 8.75%. This
issuance is the inaugural tranche of Estithmar Holding’s QAR 3.4 billion Sukuk program which
earned great interest from investors and governmental and non-governmental institutions. The
list of investors included banks, insurance companies, and asset management companies.
Commenting on the event, Eng. Mohammed bin Badr Al-Sada, CEO of Estihtmar Holding,
highlighted the significance of the listing to the Qatari economy, “This issuance demonstrates
confidence in Qatar's robust economy and highlights the ability of the Qatari private sector to
expand both domestically and internationally, with support from government initiatives that
create a seamless environment where companies can develop and thrive.”.
Al-Sada also pointed out the importance of the issuance as a milestone for the company: “Today
Estithmar Holding operates in 7 countries across four sectors and the Sukuk program we have
listed on the London Stock Exchange is a key component of our growth strategy and will
facilitate further expansion and value creation.”.

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