Celebrating Our Milestone

Happy Wednesday

In today's newsletter I will share some of my observations on Big Data and AI, past, present and future.

Milestone Achieved This Month!

As we reach August, I’m excited to reflect on a significant milestone for Onyx Data . This month marks a pivotal moment in our journey as we expand our presence in the UAE, a long-held goal of mine.

While many may expect constant change and growth in business, I believe in the power of focusing on what we do best—delivering exceptional data solutions to our clients. Our status as a Microsoft Fabric Featured Partner has further solidified our commitment to excellence in the Middle East.

This August, I invite you to join us as we celebrate this achievement and continue our dedication to providing outstanding service.

Balancing Innovation and Oversight

As Artificial Intelligence (AI) continues to transform industries across the Middle East, the regulatory landscape is evolving to keep pace. This newsletter explores the latest developments in AI regulation and policy in the region, highlighting key initiatives and approaches adopted by countries like the UAE and Saudi Arabia.

The Middle East is embracing a "soft law" approach, with countries issuing guidelines and principles rather than strict regulations. The UAE has established its AI strategy for 2031 and released AI Ethics and Principles, while Saudi Arabia has created the Saudi Data & AI Authority (SDAIA) to develop policies and standards. Recent data protection laws in several Middle Eastern countries are shaping the regulatory framework for AI.

The Dubai International Financial Centre has introduced pioneering regulations on processing personal data via AI systems. As generative AI gains prominence, the need for comprehensive AI policies and regulations is becoming more urgent. The region is poised to see further developments in AI governance as it balances fostering innovation with ensuring responsible AI deployment.

Global AI Companies Unite for Historic Safety Commitments at AI Seoul Summit

A historic agreement has been reached among 16 leading AI companies from North America, Asia, Europe, and the Middle East, committing to safety standards in AI development.

This landmark decision was announced during the AI Seoul Summit on May 21, 2024, and builds on previous commitments made at the Bletchley Summit.

Key points:

• Companies to publish safety frameworks for frontier AI models

• Agreement to halt development if risks can't be mitigated

• Focus on accountable governance and transparency

• Establishment of global standards for AI safety

• Future discussions planned for AI Action Summit in France, 2025

• Represents a crucial step in responsible AI development

This agreement represents a crucial step towards ensuring that AI technologies are developed responsibly, balancing innovation with safety and ethical considerations.

How AI Can Vastly Improve Your Productivity!

AI has helped us to work more efficiently!

I have collaborated with Champion Speakers for an insightful video discussing how AI can significantly enhance productivity. Join me as we explore the transformative power of AI in optimising workflows and achieving more in less time.

Check out this exclusive interview which I'm featured in!

Trend Spotlight For This Week

AI Statistics And Trends In 2024

The UK's artificial intelligence (AI) landscape is experiencing unprecedented growth, with the market value soaring to ￡16.8 billion and projected to reach ￡801.6 billion by 2035.

Recent data reveals a 600% increase in AI companies over the past decade, with one in six UK organizations now employing AI technologies.

Key highlights:

• 68% of large companies have adopted AI, compared to 33% of medium-sized and 15% of small companies
• AI contributed ￡3.7 billion to the UK economy in 2022
• The UK boasts an AI workforce of over 360,000
• London leads as the primary hub for AI startups, hosting industry giants like DeepMind

Government support remains strong, with ￡2.3 billion allocated to AI initiatives since 2014 and plans for a ￡900 million investment in a cutting-edge supercomputer. However, concerns persist among 59% of Brits, primarily regarding AI dependence and job displacement. As the UK cements its position as an AI powerhouse, balancing innovation with ethical considerations will be crucial for sustainable growth in this rapidly evolving sector.

Read more in the full article here.

This edition is sponsored by Packt

You can find the Microsoft Power BI Cookbook here: Convert raw data into business insights with updated techniques, use cases, and best practices.

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