Yesterday, Meltwater a social media monitoring & media Intelligence company held an event called #OutsideInsight – How AI is Transforming Corporate Decision Making. Meltwater helps companies grow and build brands by listening, understanding, engaging and bench-marking their customers, markets and social business communities.
The company was founded in Oslo, Norway, by Jørn Lyseggen, in 2001 having headquartered in San Francisco, California and offices across Europe, North America, Asia/Pacific, Middle East, Australia, and Africa.
First half of event was dedicated to the best seller Amazon book Outside insight by Jørn Lyseggen CEO of Meltwater. Second half was panel discussion and FAQ about AI and its adoption by UAE government specially Dubai.
This event was arranged at The Rove Hotel in Downtown Dubai, guest Panelists included:
|Hans Henrik Christensen
Director DTec – The Dubai Silicon Oasis Authority
|Dr. Davide D’Aprile
Project Director – Smart Dubai’s
Founder – Dubai Angel Investors
Tech expert, mentor and Innoopolis founder
Jorn Lyseggen a research scientist in artificial intelligence and machine vision says he felt they were drowning in information and manually it was simply too time-consuming and hard to make a sense. The obvious answer to this problem was a software so he could track and analyse all available information automatically.
That is how he started Meltwater with his friend and coffee machine on board in Oslo Norway, with starting capital of $15,000. His vision was, when executive and decision maker arrive with his cup of coffee on the desk. Their software would welcome them with summary of what had happened around the world in last 24 hours in simplest possible form about the competitors, key clients and own brand.
Meltwater processes upto 100 million documents and 2 trillion searches, aggregated from multiple sources such as news, blogs, feeds, social media to provide real-time analysis. This analysis gives a summary about brand perception, client satisfaction, industry trends and competitive intelligence.
Business Paradigm (Current v/s New)
During the event Jorn explained the current paradigm and New paradigm for executive to look for.
For current paradigm Data source is internal and focus is on own company due to this analytic lag, and the sequence or cadence is monthly or quarterly this all results in reactive operation.
In New paradigm Data source is external and focus should be on industry due to this analytic would leading rather than lag behind, so the sequence or cadence would be shifted to real-time this all will allow proactive operation mode.
Smart Dubai 2021
Smart Dubai initiative is transforming many things in State, also government claims the city has transformed itself into a model smart city. This step revolutionising the way government delivers the services to its people by launching over 100 smart initiatives and more than 1000 smart services in less than three years.
Smart Dubai has announced an ambitious roadmap to prepare Dubai so it embrace the future and emerge as a world-leading city by 2021.
Government aim to make Dubai the happiest city on earth by embracing technology innovation making Dubai a more seamless, safe, efficient and personalised city experience for all residents and visitors.
Smart Dubai envisions a city where all its resources are optimised for maximum efficiency, where services are integrated seamlessly into daily life, where government protect both people and information — creating the most enriched life and business experience possible for all.
DTEC & AI
One of the modern initiative towards technological advancement in UAE is Dtec (Dubai Technology Entrepreneurship Centre).
It is a technology, entrepreneurial and innovation hub that accommodates hundreds of startups and SMEs from more than 60 countries.
More than a simple co-working space, Dtec also houses its own incubator, which offers venture capital seed stage funding.
Not only this but Dtec offers networking, training and social events to help kick start the business and build the collaborations and knowledge. Its partner network includes Microsoft, Intel, du, Thomson Reuters, Dubai Chamber and Alibaba Cloud, and VISA.
Quotes from Panelist Discussion
Artificial Intelligence is not intelligent, it is just statistics and manipulation of data.
– Jorg Lygessen
If innovation will wait for regulation, there will be no innovation.
– Hans Henrik Christensen
AI can help to invest and manage the investment and ensure optimal outcome via success of startup
– Anvita Varshney
We need very sophisticated solutions which usual comes from startups
– Dr. Davide D’Aprile
Listen the below discussion of panel about AI and its influence