Pakistan IT Industry at Risk: Firewall Causing Mass Exodus of Companies

Pakistan’s burgeoning Information Technology (IT) sector is facing an existential crisis due to the hastily implemented national firewall, according to the Pakistan Software Houses Association (P@SHA). The industry body has issued a dire warning of a mass exodus of IT companies unless the government takes immediate corrective measures.

Ali Ihsan, Senior Vice Chairman of P@SHA, lambasted the government’s decision to impose the firewall without consulting the industry. “The firewall has triggered unprecedented operational disruptions, with prolonged internet disconnections and erratic VPN performance crippling business operations,” he said.

The IT industry, a key driver of Pakistan’s economy, is reeling from the impact. Ihsan estimates financial losses due to the firewall to be around $300 million, a figure that could escalate if the situation persists. Moreover, the opacity surrounding the firewall’s design and objectives has eroded trust among global clients, leading to fears about data privacy and security.

“Clients are looking for reliable partners,” Ihsan stated. “Even if they want to give projects to us due to existing relationships, they prefer not to due to concerns about unreliable connectivity.”

The industry leader emphasized that the firewall is not merely a technical issue but a strategic threat to Pakistan’s economic future. “A mass exodus of IT companies is imminent if we don’t act now,” he warned. “We are at a crossroads, facing a stark choice: to persevere in a hostile environment or seek refuge in more conducive ecosystems.”

P@SHA is demanding an immediate halt to the firewall and a comprehensive review of the government’s cybersecurity strategy. “We insist on a transparent and collaborative approach that safeguards national interests without stifling innovation,” Ihsan said.

The association has urged the government to form a joint committee comprising industry stakeholders to develop a cybersecurity framework that balances national security with the needs of the IT sector. “The internet, its reliability, quality, and throughput are of national interest,” Ihsan added. “Anyone acting against it should review their decisions.”

The IT industry’s contribution to Pakistan’s economy cannot be overstated. It is a major source of foreign exchange and employment, particularly for the youth. The firewall, if left unchecked, threatens to undo years of progress and stifle the sector’s potential.

As the situation worsens, the IT community is watching closely to see how the government responds. The coming weeks will be critical in determining the fate of Pakistan’s IT industry.

Pakistan IT Minister Unveils Digital Initiatives, Addresses Internet Concerns Amid Tech Growth

In a press conference held today, Pakistan’s Minister of State for Information Technology, Shaza Fatima Khawaja, unveiled ambitious plans for the country’s digital future while addressing recent concerns about internet restrictions.

Khawaja firmly denied allegations of government-imposed internet censorship, stating, “I can say under oath that the government of Pakistan did not shut down or slow the Internet.” She attributed recent connectivity issues to technical problems with PTCL infrastructure and widespread VPN usage, which she claimed could impact internet speeds.

The minister announced that Pakistan’s IT exports have reached a record high of over 3 billion rupees this year. “I thank all the boys and girls who made this goal possible,” Khawaja said, highlighting the sector’s growing importance to the national economy.

Key initiatives outlined by the minister include:

  1. The establishment of a Digitization Commission, to be headed by the Prime Minister
  2. Plans to introduce 5G spectrum in 2025
  3. Construction of IT parks in Islamabad and Karachi, with the Islamabad facility expected to create more than 10,000 jobs
  4. A substantial budget allocation of 60 billion rupees for IT development, including 4 billion specifically for training children in IT skills
  5. Partnerships with global tech giants such as Google, Meta, and Microsoft for IT education programs
  6. Implementation of 250 e-employment centers across the country
  7. Development of a comprehensive ecosystem for the gaming industry

Khawaja also revealed plans to introduce coding skills training at the primary school level and mentioned ongoing collaboration with the World Bank on digital transformation projects.

Addressing cybersecurity concerns, the minister stated, “The government is not monitoring anyone. We are only working to prevent harassment on social media and provide safe and secure internet to the people.”

However, Khawaja’s statements noticeably avoided direct mention of the controversial national firewall, which she had previously defended as a necessary cybersecurity measure. This omission has raised questions among critics about the government’s stance on internet freedom.

As Pakistan continues its push for digital advancement, the government faces the challenge of balancing rapid technological growth with concerns over online privacy and freedom of access. The coming months will likely see increased scrutiny of these initiatives as they begin to take shape.

Prudential Partners with Google Cloud to Build the Future of Insurance with AI

Prudential plc (Prudential) and Google Cloud today announced an expanded strategic partnership to build innovative AI-powered products and applications that will help enhance customer, agent and employee experiences. Google Cloud will support Prudential’s new AI Lab – the first partnership of its kind for the insurance industry in Asia and Africa – which will focus on solving business and customer challenges.

Launching later this year, the AI Lab is designed to accelerate Prudential’s adoption of machine learning, AI and generative AI (gen AI), while also driving progress towards Prudential’s strategic priorities of:

  • Delivering a better customer experience;
  • Driving technology-powered distribution; and
  • Improving access to affordable, quality healthcare

The Lab will provide Prudential’s 15,000 employees with a new sandbox environment and step-by-step process for turning their ideas into scalable AI products and applications. This includes access to leading large language models, advanced and secure gen AI and data analytics solutions, and end-to-end Cloud provision. The partnership presents an opportunity to shape the future of AI in life and health insurance.

Supported by Google Cloud’s deep expertise in health-focused AI, the Lab will initially prioritize ways of using AI to provide improved access to quality healthcare, while supporting agents’ ability to deliver a seamless and personalized customer experience. The Lab will also focus on using AI to improve operating processes – with the goal of delivering a better experience for customers, agents and employees alike, and driving new, bottom-line efficiencies.

Anil Wadhwani, Chief Executive Officer, Prudential plc, said: “Prudential is committed to leveraging technological innovation to create value for all our stakeholders. We are actively using data, advanced analytics and AI to create an exceptional customer and agent experience – while helping us work smarter and faster. Our expanded partnership with Google Cloud will unlock the innovation and creativity of our 15,000 employees and increase our speed to market, particularly in health insurance, where we see tremendous growth opportunities. By deepening our collaboration, we will build the future of insurance for our customers.”

Thomas Kurian, CEO, Google Cloud, said: “Generative AI represents a significant opportunity to drive innovation in the insurance industry. Our collaboration with Prudential and the launch of its AI Lab will help to reimagine customer experiences, optimize operations, and unlock new growth possibilities. Google Cloud is committed to providing the AI and data analytics capabilities, as well as the expertise needed to support Prudential’s vision for the future of insurance.”

Based in Singapore, the AI Lab will also partner with institutes of higher learning, research centers, promising start-ups and AI experts. This launch deepens the working relationship between Prudential and Google Cloud that was established in 2019. With the aim of driving better insurance, health, and financial outcomes across Asia and Africa, both organizations have been collaborating on digital transformation initiatives that have the potential to benefit millions globally.

LMKT Leads Pakistan’s Incubation Landscape, Wins Back Operations of NICs Karachi and Peshawar

LMKT, Pakistan’s leading technology company, is thrilled to announce that it will be continuing its role as the operator of Ignite-funded National Incubation Centers (NICs) Peshawar and Karachi. This brings back the total count of LMKT-operated NICs to three, the largest of any other private organization in the Country.

In this renewed commitment with MOITT and Ignite, the Company will further its mission to empower Pakistani entrepreneurs and propel the nation’s vibrant startup ecosystem to even greater heights.

Over the past six years, LMKT’s incubation network across Pakistan has yielded remarkable results. LMKT-operated NIC Karachi, NIC Peshawar, and NIC Hyderabad have become the cornerstones of the national startup ecosystem. Together, the centers have incubated over 600 startups, facilitated the creation of over 1 million jobs, and helped raise investments exceeding PKR 16 billion. These figures solidify their positions as leading incubators and accelerators in Pakistan.

Looking ahead, the company will leverage its experience to propel both NICs to even greater heights.

In this mission, LMKT is joined by many esteemed partners such as YB Group one of Pakistan’s largest conglomerates; Orbit Startups, a renowned international investment accelerator and the Pakistan’s most active VC; as well as Accelerate Prosperity, IM | Sciences, and Sybrid to empower the next generation of Pakistani entrepreneurs.

“We are excited to renew our collaboration with Ignite for the operations of NIC Karachi and NIC Peshawar,” said CEO LMKT Atif Rais Khan. “LMKT’s proven track record in both centers, as well as NIC Hyderabad, demonstrates our commitment to empowering Pakistani entrepreneurs. We are excited to build upon this success by fostering innovation in key sectors, providing world-class support through our partners, and helping our startups achieve global recognition.”

“It is fantastic to continue our partnership with trusted collaborators for another five years. We are excited to witness the emergence of more startups focusing on Industrial Automation, FinTech, Cyber Security, and women-led ventures. Together, we will further strengthen Pakistan’s innovation landscape,” said CEO Ignite.

“We believe a nation’s prosperity is inextricably linked to its capacity for innovation. As a cornerstone of this country’s economy, we recognize our duty to cultivate a thriving startup ecosystem that is able to nurture the next generation of entrepreneurs and propel our country into a future of unparalleled progress,” said Mr. Ali Sohail Tabba of Lucky Landmark, a consortium member with LMKT in NIC Karachi.

 

URDU 

 ایل ایم کے ٹی نے نیشنل انکیوبیشن سینٹرزکے آپریشنز دوبارہ جیت لیے

اسلام آباد( )  ایل ایم کے ٹی نے اگنائٹ کے اشتراک سے نیشنل انکیوبیشن سینٹرزکو پشاور اور کراچی میں جا ری رکھنے کا اعلان کر دیا ۔ اس کے بعد ایل ایم کے ٹی سے چلنے والے این آئی سی ایس کی تعداد تین ہو جا ئے گی ۔ کمپنی پاکستانی کاروباریوں کو بااختیار بنانے اور ملک کے متحرک اسٹارٹ اپ ایکو سسٹم کو مزید بلندیوں تک لے جانے کے اپنے مشن کو آگے بڑھائے گی۔اس موقع پر سی ای او LMKT عاطف رئیس خان نے کہا کہ ہم نیشنل انکیوبیشن سینٹرکراچی اورنیشنل انکیوبیشن سینٹر پشاور کے آپریشنز کے لیے اگنائٹ کے ساتھ اپنے تعاون کی تجدید کیلئے پرجوش ہیں۔دونوں مراکز کے ساتھ ساتھ نیشنل انکیوبیشن سینٹرحیدرآباد میں LMKT کا ٹریک ریکارڈ پاکستانی کاروباریوں کو بااختیار بنانے کے ہمارے عزم کو ظاہر کرتا ہے۔ہم کلیدی شعبوں میں جدت   کو فروغ دینے، اپنے شراکت داروں کے ذریعے عالمی سطح کی مدد فراہم کر ینگے۔ کمپنی دونوں نیشنل انکیوبیشن سینٹرزکو مزید بلندیوں تک لے جانے کے لیے اپنے تجربے سے فائدہ اٹھائے گی۔قابل اعتماد شراکت داروں کے ساتھ مزید پانچ سالوں تک اپنی شراکت کو جاری رکھنا خوش آئند ہو گا ۔ گذشتہ چھ سالوں کے دوران، پاکستان بھر میں LMKT کے انکیوبیشن نیٹ ورک نے شاندار نتائج حاصل کئے ہیں۔ اس موقع پر سی ای او اگنائٹ نے کہا کہ ہمیں یقین ہے کہ کسی ملک کی خوشحالی اس کی ٹیکنالوجی کی صلاحیت سے جڑی ہوئی ہے۔ پا کستان کی معیشت کے سنگ بنیاد کے طور پر ہم ایک جدید ترین سٹارٹ اپ ماحولیاتی نظام کو فروغ دینے کو شاں ہیں جو کاروباری افراد کی مدد سے ملک کوآگے بڑھا سکے۔نیشنل انکیوبیشن سینٹر کراچی میں LMKT کے کنسورشیم کے رکن اور لکی لینڈ مارک کے علی سہیل ٹبہ نے بھی اس موقع پر خطاب کیا

Best Regards,

Muhammad Sagheer | Sr.Media Manager 

C: +92 332-2470909

How to Start a Business in Dubai: A Comprehensive Guide

Dubai, a global business hub known for its strategic location, world-class infrastructure, and business-friendly environment, offers immense opportunities for entrepreneurs and investors. The city’s diverse economy, modern amenities, and robust legal framework make it an ideal destination for starting a business.

If you’re considering how to start a business in Dubai, this comprehensive guide will walk you through the essential steps and considerations to get started.

1. Research and Choose Your Business Activity

The first step in starting a business in Dubai is to decide on the type of business activity you want to engage in. Dubai offers a wide range of opportunities across various sectors, including trade, tourism, real estate, finance, and technology. Conduct thorough market research to identify the demand, competition, and potential for growth in your chosen industry. It’s crucial to select a business activity that aligns with your skills, experience, and passion.

2. Select a Business Jurisdiction

Dubai offers three main business jurisdictions: Mainland, Free Zone, and Offshore. Each jurisdiction has its own set of regulations, benefits, and requirements. Understanding the differences between these options is essential for making an informed decision.

Mainland

  • Businesses in the Mainland can operate anywhere in the UAE and conduct business with the local market.
  • Mainland companies require a local sponsor (UAE national) who holds at least 51% of the shares, except in certain industries where 100% foreign ownership is allowed.
  • Mainland companies have access to government contracts and are subject to UAE commercial laws.

Free Zone

  • Free Zones are designated areas that offer tax exemptions, full foreign ownership, and simplified customs procedures.
  • Businesses in Free Zones can only operate within the Free Zone and conduct business internationally.
  • Each Free Zone has its own regulatory authority and specific industry focus.

Offshore

  • Offshore companies are primarily used for international business and asset management.
  • They cannot conduct business within the UAE but can open bank accounts and own property.
  • Offshore companies offer privacy and minimal reporting requirements.

3. Choose a Business Structure

The choice of business structure depends on your business activity, ownership preferences, and operational requirements. Common business structures in Dubai include:

 

  • Sole Proprietorship: Owned by a single individual with full control and liability.
  • Limited Liability Company (LLC): A popular structure for businesses with multiple shareholders, offering limited liability protection.
  • Branch Office: A branch of an existing foreign company operating in Dubai.
  • Free Zone Company (FZC): A company registered within a Free Zone with 100% foreign ownership.

4. Register Your Business Name

Choosing the right business name is crucial for branding and legal compliance. The name should reflect your business activity and be unique. It must also adhere to the naming conventions set by the Department of Economic Development (DED) or the relevant Free Zone authority. Avoid using offensive or religious terms, and ensure that the name is not already registered by another company.

5. Obtain Initial Approval

Once you’ve decided on your business activity, jurisdiction, and structure, you need to obtain initial approval from the relevant authorities. This approval confirms that your business activity is permissible in Dubai. For Mainland businesses, the DED is the primary authority, while Free Zone authorities handle approvals for businesses within their jurisdictions.

6. Draft and Notarize the Memorandum of Association (MOA)

The Memorandum of Association (MOA) is a legal document that outlines the company’s structure, objectives, and ownership details. For Mainland businesses, the MOA must be notarized and signed by all shareholders. Free Zone companies have a similar document, known as the Articles of Association (AOA). The MOA or AOA is a crucial document for company registration and must comply with UAE laws.

7. Secure a Business License

Obtaining a business license is a critical step in starting a business in Dubai. The type of license you need depends on your business activity and jurisdiction. The main types of licenses include:

  • Commercial License: For trading activities.
  • Professional License: For professional services and consultancy.
  • Industrial License: For manufacturing and industrial activities.

Mainland businesses must obtain their licenses from the DED, while Free Zone businesses must apply to the relevant Free Zone authority. Offshore companies are registered through offshore registrars.

8. Choose a Business Location

Selecting the right location is essential for your business’s success. Dubai offers a variety of commercial spaces, from modern office buildings to industrial warehouses. Your choice of location will depend on your business activity, target market, and budget. Consider factors such as accessibility, amenities, and proximity to clients and suppliers.

9. Open a Corporate Bank Account

A corporate bank account is necessary for managing your business finances and transactions. Dubai has a wide range of local and international banks offering corporate banking services. To open a bank account, you will need to provide the necessary documentation, including your business license, MOA, and passport copies of the shareholders. Choose a bank that offers the services and features that best suit your business needs.

10. Hire Employees and Arrange for Visas

If your business requires employees, you’ll need to comply with Dubai’s labor laws and regulations. This includes obtaining work visas and permits for foreign employees. The number of visas you can apply for depends on your business activity, size, and location. Mainland companies must follow the UAE labor laws, while Free Zone businesses adhere to the regulations of their respective Free Zone authorities.

11. Comply with Tax and Regulatory Requirements

Dubai offers a favorable tax environment, with no personal income tax and a low corporate tax rate. However, businesses must comply with other tax and regulatory requirements, such as VAT registration and reporting. It’s essential to stay informed about any changes in tax laws and regulations to ensure compliance.

12. Launch and Promote Your Business

Once you’ve completed all the necessary steps, you’re ready to launch your business in Dubai. Develop a marketing and promotional strategy to attract customers and build your brand. Leverage digital marketing, social media, and networking events to increase your visibility and reach.

 

Conclusion

 

Starting a business in Dubai offers numerous opportunities for growth and success. With its strategic location, business-friendly environment, and robust infrastructure, Dubai is an ideal destination for entrepreneurs and investors. By following the steps outlined in this guide and seeking professional advice when needed, you can navigate the process of setting up a business in Dubai with confidence and ease. Whether you’re launching a startup or expanding an existing enterprise, Dubai’s dynamic market and supportive ecosystem provide a fertile ground for your business ambitions.

Mashreq Business Online: Transforming Banking for Modern Enterprises

In today’s fast-paced business environment, efficient financial management is crucial for success. Mashreq, one of the leading banks in the UAE and the Middle East, offers a state-of-the-art digital banking platform known as Mashreq Business Online. This platform provides businesses with a comprehensive suite of online banking services designed to simplify and streamline financial operations. In this article, we’ll explore the features, benefits, and impact of Mashreq Business Online on modern enterprises.

What is Mashreq Business Online?

Mashreq Business Online is a secure and user-friendly digital banking platform that offers a range of financial services tailored to the needs of businesses. It enables companies to manage their accounts, transactions, and other banking activities efficiently from a single online portal. The platform is accessible via web and mobile devices, ensuring businesses can conduct their banking activities anytime and anywhere.

Key Features of Mashreq Business Online

Mashreq Business Online is packed with features that cater to the diverse needs of businesses, from small enterprises to large corporations. Here are some of the key features that make it an indispensable tool for modern businesses:

1. Account Management

With Mashreq Business Online, businesses can easily manage multiple accounts, view real-time balances, and access detailed transaction histories. The platform provides a centralized view of all accounts, making it easy to monitor and control finances.

2. Payments and Transfers

The platform simplifies payments and transfers, allowing businesses to execute local and international transactions with ease. It supports various payment methods, including SWIFT, IBAN, and UAE Direct Debit. Additionally, businesses can set up standing orders and schedule future payments, ensuring timely transactions and better cash flow management.

3. Trade Finance Services

Mashreq Business Online offers a range of trade finance services, including letters of credit, guarantees, and trade loans. These services help businesses manage their international trade transactions, mitigate risks, and optimize working capital.

4. Payroll Solutions

The platform provides efficient payroll solutions, enabling businesses to disburse salaries to employees quickly and securely. It supports Wages Protection System (WPS) payments, ensuring compliance with UAE labor laws and regulations.

5. Customizable Dashboard

The customizable dashboard allows businesses to personalize their online banking experience. Users can arrange widgets, set up alerts, and create shortcuts to frequently used features, providing a tailored experience that meets their specific needs.

6. Reporting and Analytics

Mashreq Business Online offers comprehensive reporting and analytics tools. Businesses can generate detailed reports on account activities, transactions, and cash flow. These insights help companies make informed financial decisions and plan for the future.

7. Multi-User Access

The platform supports multi-user access, allowing different team members to access the system with specific roles and permissions. This feature enhances security and ensures that sensitive financial information is only accessible to authorized personnel.

Benefits of Mashreq Business Online

Mashreq Business Online offers numerous benefits that make it an invaluable tool for businesses of all sizes. Some of the key advantages include:

1. Convenience and Accessibility

The platform provides 24/7 access to banking services, allowing businesses to manage their finances from anywhere in the world. The availability of mobile banking ensures that companies can stay connected to their accounts even while on the go.

2. Efficiency and Time Savings

Mashreq Business Online streamlines banking operations, reducing the need for manual processes and paperwork. Businesses can perform transactions, manage accounts, and access information quickly and efficiently, saving valuable time and resources.

3. Enhanced Security

Security is a top priority for Mashreq, and the platform incorporates robust security measures to protect sensitive financial information. Features such as multi-factor authentication, encryption, and secure login processes ensure that business data remains safe and secure.

4. Cost-Effectiveness

By reducing the need for physical visits to the bank and minimizing paperwork, Mashreq Business Online helps businesses cut down on operational costs. The platform’s efficient payment and transfer capabilities also reduce transaction fees and other banking expenses.

5. Better Financial Control

The platform’s comprehensive reporting and analytics tools provide businesses with valuable insights into their financial activities. This enhanced visibility allows companies to make informed decisions, optimize cash flow, and improve overall financial management.

Impact on Modern Enterprises

Mashreq Business Online has a significant impact on modern enterprises, enabling them to adapt to the digital age and stay competitive in an increasingly globalized market. The platform’s advanced features and benefits support businesses in achieving their financial goals, enhancing efficiency, and reducing costs.

In addition, Mashreq Business Online fosters innovation by providing businesses with access to cutting-edge digital banking solutions. As companies increasingly embrace digital transformation, the platform ensures they have the tools and resources needed to navigate the complexities of the modern financial landscape.

Conclusion

Mashreq Business Online is a comprehensive digital banking platform that empowers businesses with the tools and services they need to succeed in a rapidly changing world. With its user-friendly interface, advanced features, and robust security, the platform offers unparalleled convenience, efficiency, and control over financial operations. As businesses continue to embrace digital solutions, Mashreq Business Online remains a trusted partner, helping them navigate the future of banking with confidence and ease.

Etisalat Business: Empowering Enterprises with Cutting-Edge Solutions

In the dynamic world of telecommunications, Etisalat stands as a global leader, renowned for its innovative solutions and commitment to excellence. Established in 1976, Etisalat has grown to become one of the largest telecommunications companies in the Middle East, Asia, and Africa. The company’s business arm, Etisalat Business, offers a comprehensive suite of services tailored to meet the unique needs of enterprises across various industries. In this article, we explore the range of offerings provided by Etisalat Business and how they empower businesses to thrive in a digital age.

Comprehensive Communication Solutions

Effective communication is the backbone of any successful business. Etisalat Business offers a range of communication solutions designed to enhance connectivity, collaboration, and customer engagement. These include:

1. Voice and Data Services

Etisalat Business provides robust voice and data solutions, including fixed-line and mobile services. With high-speed internet, reliable voice services, and flexible data plans, businesses can maintain seamless communication with employees, partners, and customers. The company’s advanced network infrastructure ensures minimal downtime and superior service quality.

2. Unified Communications

Unified Communications (UC) solutions offered by Etisalat Business integrate various communication channels—such as voice, video, messaging, and conferencing—into a single platform. This integration enables businesses to streamline internal and external communication, improve productivity, and enhance customer experiences. Etisalat’s UC solutions are scalable and customizable, catering to the specific needs of different enterprises.

3. Cloud Telephony

Cloud telephony services by Etisalat Business enable businesses to manage their communication systems through the cloud. This eliminates the need for traditional phone systems and hardware, reducing costs and simplifying maintenance. Cloud telephony solutions offer features like call routing, interactive voice response (IVR), and call analytics, helping businesses manage customer interactions efficiently.

Digital Transformation and IT Solutions

In the digital era, businesses must leverage technology to stay competitive and agile. Etisalat Business offers a range of IT solutions that facilitate digital transformation and empower businesses to harness the power of technology.

1. Cloud Services

Etisalat Business provides cloud solutions that enable businesses to store, manage, and access data and applications securely over the internet. With options for public, private, and hybrid cloud solutions, companies can choose the best fit for their needs. Cloud services offer scalability, flexibility, and cost-effectiveness, allowing businesses to scale their IT infrastructure as needed.

2. Cybersecurity Solutions

As cyber threats become increasingly sophisticated, protecting sensitive data and systems is paramount. Etisalat Business offers comprehensive cybersecurity solutions, including threat detection, network security, and data encryption. These services help businesses safeguard their digital assets, ensure compliance with regulations, and build trust with customers.

3. Managed Services

Etisalat Business provides managed IT services, allowing businesses to outsource their IT operations to a team of experts. This includes network management, infrastructure monitoring, and IT support. Managed services help businesses focus on their core activities while ensuring their IT systems run smoothly and efficiently.

4. Internet of Things (IoT)

Etisalat Business offers IoT solutions that enable businesses to connect and monitor devices, collect data, and automate processes. IoT applications span various industries, including manufacturing, healthcare, transportation, and agriculture. By leveraging IoT technology, businesses can improve operational efficiency, reduce costs, and enhance customer experiences.

Empowering SMEs and Large Enterprises

Etisalat Business caters to the needs of both small and medium-sized enterprises (SMEs) and large corporations. The company’s solutions are designed to be scalable and adaptable, making them suitable for businesses of all sizes and industries.

1. SME Solutions

For SMEs, Etisalat Business offers cost-effective solutions that enable them to compete with larger enterprises. These include flexible communication plans, cloud services, and digital marketing tools. By providing access to advanced technology, Etisalat Business helps SMEs enhance their operations, reach new markets, and drive growth.

2. Enterprise Solutions

For large enterprises, Etisalat Business offers comprehensive solutions that address complex IT and communication needs. This includes global connectivity, data center services, and advanced cybersecurity measures. The company’s expertise and infrastructure enable large enterprises to optimize their operations, improve efficiency, and innovate.

Commitment to Innovation and Excellence

Etisalat Business is committed to driving innovation and delivering excellence in every aspect of its services. The company continuously invests in research and development, network infrastructure, and emerging technologies. This commitment ensures that businesses have access to the latest tools and solutions, helping them stay ahead in a rapidly evolving digital landscape.

Conclusion

Etisalat Business is a trusted partner for enterprises seeking to leverage technology and communication solutions to achieve their business objectives. With a comprehensive suite of services, from voice and data to cloud and cybersecurity, Etisalat Business empowers companies to navigate the challenges of the digital age. As a leader in the telecommunications industry, Etisalat Business continues to set the standard for innovation and excellence, helping businesses thrive in an increasingly connected world.

What is Medical Imaging Technology – Guide to Modern Diagnostic Tools

Medical imaging technology has revolutionized the field of healthcare, providing doctors and healthcare professionals with the ability to see inside the human body without the need for invasive procedures. This remarkable technology plays a crucial role in diagnosing and treating a wide range of medical conditions. In this article, we will explore what medical imaging technology is, the different types available, and how it impacts patient care.

Understanding Medical Imaging Technology

Medical imaging technology encompasses various techniques and tools used to create visual representations of the interior of a body for clinical analysis and medical intervention. These images help healthcare providers diagnose diseases, monitor the progress of medical conditions, and guide surgical procedures. The primary goal of medical imaging is to obtain detailed and accurate images that can reveal abnormalities, injuries, or changes within the body.

Types of Medical Imaging Technology

Several types of medical imaging technologies are commonly used in healthcare settings, each with its unique applications and advantages:

1. X-ray Imaging

X-ray imaging is one of the oldest and most widely used forms of medical imaging. It uses a small amount of ionizing radiation to produce images of the body’s internal structures, particularly bones. X-rays are commonly used to detect fractures, infections, tumors, and dental issues. Advanced forms of X-ray imaging, such as computed tomography (CT) scans, provide cross-sectional images for more detailed analysis.

2. Ultrasound Imaging

Ultrasound imaging uses high-frequency sound waves to produce real-time images of organs, tissues, and blood flow within the body. It is a non-invasive and safe method widely used in obstetrics for monitoring fetal development, as well as in cardiology, abdominal imaging, and musculoskeletal assessments. Doppler ultrasound, a specialized technique, measures the speed and direction of blood flow.

3. Magnetic Resonance Imaging (MRI)

MRI uses a strong magnetic field and radio waves to create detailed images of soft tissues, such as the brain, spinal cord, muscles, and joints. MRI is particularly valuable for diagnosing conditions affecting the central nervous system, such as brain tumors, multiple sclerosis, and spinal cord injuries. It does not use ionizing radiation, making it a safer option for imaging certain parts of the body.

4. Computed Tomography (CT) Scan

CT scans use X-rays and computer technology to create cross-sectional images of the body. They provide more detailed information than standard X-rays and are used to diagnose conditions such as internal injuries, cancers, and vascular diseases. CT angiography, a specialized form of CT, visualizes blood vessels and helps assess conditions like aneurysms and blockages.

5. Nuclear Medicine Imaging

Nuclear medicine imaging involves the use of small amounts of radioactive materials, known as radiotracers, to visualize the function of organs and tissues. Positron Emission Tomography (PET) and Single Photon Emission Computed Tomography (SPECT) are common nuclear medicine techniques. They are used to diagnose conditions such as cancer, heart disease, and neurological disorders by assessing metabolic activity and blood flow.

6. Mammography

Mammography is a specialized form of X-ray imaging used to examine breast tissue. It plays a critical role in the early detection and diagnosis of breast cancer. Digital mammography and 3D mammography (tomosynthesis) offer enhanced imaging capabilities, allowing for more accurate detection of abnormalities.

Impact on Patient Care

Medical imaging technology has significantly improved patient care in several ways:

  1. Early Diagnosis: Imaging technology enables early detection of diseases and conditions, often before symptoms appear. Early diagnosis can lead to more effective treatment and better outcomes.
  2. Precision in Treatment: Imaging guides surgeons and physicians during procedures, ensuring precision and minimizing risks. For example, real-time imaging during surgery allows for more accurate removal of tumors and reduces damage to surrounding tissues.
  3. Non-Invasive Assessment: Many imaging techniques are non-invasive, reducing the need for exploratory surgeries and minimizing patient discomfort.
  4. Monitoring Progress: Imaging allows healthcare providers to monitor the progress of diseases and the effectiveness of treatments. This is particularly important in chronic conditions like cancer and cardiovascular disease.
  5. Personalized Medicine: Advanced imaging techniques can provide detailed information about an individual’s unique anatomy and physiology, enabling personalized treatment plans tailored to the patient’s specific needs.

Conclusion

Medical imaging technology has transformed healthcare by providing valuable insights into the human body without invasive procedures. From X-rays to MRI, these technologies play a vital role in diagnosing, treating, and monitoring various medical conditions. As technology continues to advance, medical imaging will undoubtedly become even more precise and effective, further enhancing patient care and improving outcomes.

What Is Cutting Edge Technology? Everything You Need to know

In today’s rapidly evolving world, the term “Cutting Edge technology” is often used to describe the latest and most advanced technological innovations. But what exactly does this term mean, and how does it shape our future? In this article, we’ll explore the definition, examples, and impact of Cutting Edge technology on various industries and everyday life.

Cutting Edge Technology

Cutting Edge technology refers to the most advanced, innovative, and groundbreaking developments in technology. These technologies often push the boundaries of what’s possible, offering new capabilities and solutions that were previously unattainable. They are typically at the forefront of research and development and are characterized by their novelty, efficiency, and potential to disrupt existing markets and industries.

Characteristics of Cutting Edge Technology

  1. Innovation: Cutting Edge technologies often introduce novel solutions or approaches, offering new ways to solve problems or enhance existing processes.
  2. Efficiency: These technologies typically improve efficiency, speed, or accuracy, making them more effective than previous iterations or alternatives.
  3. Disruption: Cutting Edge technologies can disrupt established industries by providing better solutions, creating new markets, or rendering old methods obsolete.
  4. Scalability: They often have the potential for widespread adoption and scalability, making them accessible to a broader audience over time.
  5. Interdisciplinary: These technologies often result from interdisciplinary collaboration, combining insights from various fields such as artificial intelligence, biotechnology, and material science.

Examples of Cutting Edge Technologies

  1. Artificial Intelligence (AI): AI is revolutionizing industries by enabling machines to learn, reason, and make decisions. From self-driving cars to personalized recommendations, AI is reshaping our daily lives and business processes.
  2. Blockchain: Beyond cryptocurrencies, blockchain technology is being utilized for secure and transparent record-keeping in industries like finance, supply chain, and healthcare.
  3. Quantum Computing: Quantum computers leverage the principles of quantum mechanics to perform complex calculations at unprecedented speeds, potentially solving problems that classical computers cannot.
  4. Biotechnology and Genetic Engineering: Advances in biotechnology, such as CRISPR gene editing, are opening new possibilities for treating genetic disorders and enhancing agricultural practices.
  5. Augmented Reality (AR) and Virtual Reality (VR): AR and VR are transforming entertainment, education, and training by creating immersive and interactive experiences.
  6. Internet of Things (IoT): IoT connects everyday devices to the internet, enabling real-time data collection and communication, from smart homes to industrial automation.

Impact on Industries and Society

Cutting Edge technologies are reshaping industries, creating new business models, and transforming the way we live and work. In healthcare, for example, AI-driven diagnostics and personalized medicine are improving patient outcomes. In manufacturing, automation and robotics are increasing efficiency and reducing costs. In finance, blockchain is enhancing security and transparency.

Moreover, these technologies are also influencing social and ethical considerations. As AI becomes more integrated into our lives, questions around privacy, security, and employment arise. The rapid pace of technological change can also lead to a digital divide, where access to Cutting Edge technology becomes a critical issue.

Conclusion

Cutting Edge technology represents the forefront of human innovation and creativity. It encompasses a wide range of fields and has the potential to revolutionize industries, improve quality of life, and address global challenges. As we continue to explore and develop these technologies, it’s essential to consider their ethical implications and ensure that they benefit society as a whole. The future promises exciting advancements, and staying informed about Cutting Edge technology is key to understanding and shaping the world of tomorrow.

Backbase deepens commitment to Vietnam with launch of first global AI Center of Excellence in Ho Chi Minh City

Veteran banking leader Chris Shayan appointed as Head of AI to enhance AI capabilities across customer lifetime value in the Engagement Banking Platform

HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 31 July 2024 – Backbase, the global leader in Engagement Banking, announces the establishment of its first global Center of Excellence (COE) focused on Artificial Intelligence (AI) in Ho Chi Minh City, Vietnam. The COE will serve as the development hub for Backbase’s AI banking solutions worldwide and will be led by Head of AI Chris Shayan, a former CXO at Techcombank and HDBank.

Backbase’s strategic decision to establish this COE in Vietnam underscores its commitment to Asia. Vietnam is pegged as the fastest growing digital economy in Southeast Asia and recognized for its rapid digital transformation, innovative spirit, and growing pool of talent. Asia is a core region for Backbase and Vietnam has become one of the fastest growing markets in Asia, with key banks including Techcombank, TPBank, ABBANK, and OCB driving digital transformation through the Backbase Engagement Banking Platform.

The Center of Excellence is strategically located near Saigon Center in District 1, occupying an entire floor dedicated to advancing AI development. The COE will bring together a talented team of engineers specializing in web, mobile, backend, AI, machine learning, and large language models (LLM), fostering rapid AI development and innovation.

Chris Shayan, an industry veteran in AI and digital transformation, brings his vision and expertise to drive this initiative in Vietnam, where he has resided for more than a decade. According to Shayan, the COE’s first product launch is targeted within 6 months of its establishment, reflecting Backbase’s confidence in a rapid development cycle.

“Vietnam is a crucial part of our global strategy. Having managed an 800-person team, of which 99% were Vietnamese, I can personally attest to the remarkable potential of Vietnamese talent in technology and innovation,” Shayan stated. “At this stage, our focus for the COE is to harness this talent pool to create world-leading AI capabilities that help banks solve business problems on a global scale, leveraging the wealth of knowledge and experience from Backbase’s portfolio of banks and tech experts.”

Before joining Backbase, Shayan led digital transformation initiatives as Techcombank’s Chief Technology Officer, achieving benchmark-setting results in just 9 months. In addition, as the Chief Digital Officer at HD Bank, he led a transformation that saw 4x customer growth under his leadership.

“The Center of Excellence will harness AI to deepen the value our customers can obtain from the Backbase Engagement Banking Platform, by increasing customer usage and servicing experience, as well as provide access to analytics for informed decision-making. The Center of Excellence aims to vertically integrate AI to uplift customer lifetime value and accelerate development and deployment of products for banks to have access to AI-driven features soon,” adds Shayan.

A forecast by McKinsey predicts that generative AI has the potential to create up to $340 billion in value for banks, while still in the nascent stages of AI development in the region. The CoE will prioritize practical AI applications to enhance business outcomes, rather than focusing solely on R&D efforts. The goal is to create AI capabilities that accelerate customer lifetime value and engagement, integrating these solutions seamlessly on top of Backbase’s existing architecture.

Vietnam as a growing hub for Backbase

Backbase’s annual flagship conference, ENGAGE, will take place in Ho Chi Minh City on September 11 – 12 this year. Core leadership team members, including the CEO, CPO, CTO, and Product Directors, will gather to share the latest global insights and unveil new technological innovations. A key highlight of this year’s conference will be the focus on AI and the new Center of Excellence. With the theme “Banking Reinvented,” the ENGAGE Asia 2024 will feature a wealth of content, from go-live success stories to pioneering achievements in digital banking and transformation. These presentations and use cases will showcase the real-world progress of Asian banks that have boldly embraced customer-centric approaches. Banking leaders from across Asia are invited to join this impactful event.

Vietnam is growing to be a key hub for teams to come together from all across the Southeast Asian region and beyond. Through its investments in Vietnam, Backbase is set to redefine the boundaries of AI in the banking sector, driving innovation, customer engagement, and business growth for banks globally.

Recent press releases on awards and go-live with Backbase’s Vietnam customers

Backbase
Backbase is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.
The issuer is solely responsible for the content of this announcement.

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