Data analytics is “taking over the world,” according to Emaar founder Alabbar.
In particular, Alabbar was referencing the role that analytics has played in fine tuning the customer experience at Dubai Mall, in the UAE, noting that the technology has already given Emaar insights on how to develop its mall infrastructure.
Alabbar’s comments were made during a lunch briefing held by the Future Investment Initiative Institute.
“I believe the world is getting smarter … If you look at the Middle East you see change. Politics is all about collaboration, all above forgiveness,” Alabbar said.
The global economy has experienced a long period of instability over the past few years. The return to normality from the Covid-19 pandemic has been mainly coloured by continued supply chain disruption and rising inflation, with many businesses and investors turning to the Arabian Gulf as an area of stability.
“Smart people understand that the world is not stable … The world will continue to be unstable,” Alabbar said.
The billionaire was also very bullish on the importance of young people to the world, commenting: “My gut feel is that young people will save the world … the abilities of the next generation are incredible.”
On the future of the global economy, Alabbar believes the US will continue to play an important role, noting it is “an integral part of the world order.”
However, global politics will increasingly move towards a multi-polar world, according to Alabbar, with China and the US competing. This situation will be positive for the Middle East, as the two global powers compete for business, he said.
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