Business leaders and executives in the UAE are demonstrating unprecedented trust in artificial intelligence (AI), according to new research released by technology services provider Endava. The findings show a sweeping embrace of AI not just for routine tasks, but for decisions that directly impact employees’ careers, finances, and well-being.

A significant 79 per cent of UAE business decision-makers now trust AI to allocate budgets across their organisations, decisions that could directly influence individual compensation. The same percentage expressed confidence in AI’s ability to manage talent, including recruitment, performance evaluation, and redundancy planning. Additionally, 80 per cent of respondents were comfortable with AI overseeing critical health and safety operations within their companies.

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This marks a substantial shift in mindset, indicating a new era where AI is no longer seen as a tool for back-office automation, but as a trusted decision-maker in high-stakes areas.

Beyond business: AI as a life advisor

Remarkably, this trust in AI extends well beyond the workplace. According to Endava’s research, four in five respondents said they would trust fully automated systems to make personal career decisions, from advising on promotions to suggesting salary trajectories and job changes.

The same percentage expressed confidence in AI for personal financial planning, including investments and retirement strategies. Even health recommendations, traditionally the domain of human professionals, saw similar levels of trust.

David Boast, General Manager, UAE and KSA at Endava, believes this reflects more than just technological optimism. “Trust is the critical enabler of any AI strategy,” he said. “The UAE’s clear national vision, its youthful and tech-savvy population, and its digital-first mindset are combining to give organisations a unique opportunity to innovate with confidence.”

While other regions remain cautious, often bogged down by concerns over job displacement and AI ethics, UAE businesses appear ready to move forward boldly, supported by a workforce that is not just accepting of AI, but eager to embrace it.

Designing emotionally intelligent AI

As trust in AI grows, experts say the next step is making systems more emotionally responsive, especially when dealing with sensitive or stressful situations.

“Ultimately, the path to trust isn’t through forcing AI into the foreground, but by designing it to quietly empower the experiences consumers already value,” said Jessica Constantinidis, Innovation Officer – EMEA at ServiceNow. “By embedding AI into service architecture in a way that’s invisible but impactful, organisations in the UAE can deliver emotionally intelligent experiences that meet high expectations, without sacrificing efficiency.”

Despite the growing trust in AI, many consumers still crave human connection. A separate ServiceNow research reveals that 68 per cent of UAE consumers prefer to speak with a real person, not due to a resistance to technology, but because they value empathy and nuance. This preference is especially strong when emotions are heightened, such as during financial disputes or service failures.

The hybrid model: Best of both worlds

The study makes it clear that while customers want fast and efficient service, they also seek reassurance. A full 85 per cent of UAE consumers say they prefer self-service options, yet their confidence in AI remains fragile when it comes to emotionally charged or complex issues.

“The answer lies in embracing a hybrid model,” Constantinidis explained. “AI systems should not be standalone tools but part of a broader support ecosystem. For routine tasks, automation can deliver speed. But during moments of high stress, there must be intelligent pathways to human support.”

For example, AI should be able to detect distress signals, not just through language, but through behavior patterns, such as repeated actions or extended time to resolution. If a customer isn’t getting results within two interactions, the system should seamlessly escalate the issue to a human agent.

“That’s not a failure of AI, that’s smart design,” Constantinidis said. “Too often, companies bolt AI onto existing policies without rethinking the experience. True transformation means reimagining customer support with hybrid experiences built from the ground up.”

Once known primarily for its towering skyscrapers and world-class shopping malls, Dubai has evolved into a multifaceted tourism powerhouse, where history, culture, and sustainability seamlessly blend with luxury.

This transformation is not just reshaping visitor expectations but redefining the very essence of hospitality in the region. Dubai, in particular, is attracting a growing number of visitors eager to explore historical and cultural experiences.

According to data released by the Dubai Department of Economy and Tourism (DET), Dubai welcomed 18.72 million international overnight visitors from January to December 2024, registering a 9 per cent year-over-year (YoY) increase from the previous record of 17.15 million in 2023.

It’s no doubt that Dubai’s strong reputation for safe travel, hosting major international events, and strong government support has contributed to the city’s attractiveness.

This growth is further reinforced by the Dubai Economic Agenda D33 to strengthen further the emirate’s position as one of the best cities to visit, live, and work.

Within this surge in visitor numbers, the hospitality sector faces the challenge of maintaining the right balance between exclusivity and catering to a diverse market. Luxury hotels have always been a significant part of the UAE’s hospitality landscape. However, there is a growing demand for boutique and lifestyle hotels offering unique experiences and personalised services.

Consequently, Dubai’s hospitality sector is tasked with catering to an ever-evolving visitor profile and adjusting to global uncertainties, such as economic fluctuations and unforeseen disruptions, which affect travel patterns, spending habits, and consumer behavior. Remarkably, Dubai has stepped up to the challenge, reinventing itself and embracing the demand for responsible, curated cultural experiences combined with eco-friendly practices.

A shift to sustainable tourism

The city’s commitment to sustainability is evident as hotels and resorts consider environmental impact in every facet of their operations, including energy-efficient architecture and initiatives aimed at reducing energy and water consumption. This reflects a sense of corporate responsibility but also appeals to the changing preferences of a conscientious global traveler.

More specifically, there is a shift to eco-friendly experiences, like desert resorts and renewable energy projects. Restaurants and food outlets are also adopting eco-friendly practices by incorporating local and organic produce into their menus, supporting sustainable agriculture, and reducing their carbon footprint.

Many hotels and resorts are incorporating wellness-focused amenities and experiences into their offerings to cater to the growing segment of travellers seeking rejuvenation – but with a local touch. In addition, hotels are increasingly looking into healthy food options, fitness classes, spa treatments, and tranquil spaces for relaxation.

Infrastructure investments to support sustainability

Supporting the shift to eco-conscious travel involves investing in the proper infrastructure for it. Dubai is not a stranger to build infrastructure successfully from the ground up, with its hospitality sector playing a crucial role in the city’s tourism success. By the end of December 2024, Dubai’s hotel inventory had expanded to 154,016 rooms across 832 establishments, compared to 150,291 rooms in 2023.

The occupancy rate increased from 77.1 to 77.7 per cent, and the Average Daily Rate (ADR) increased from Dhs654.4 to Dhs666, reflecting the growing demand and the sector’s ongoing contribution to Dubai’s position as a top global destination.

Many of these hotels have embedded technological advancements to enhance the guest experience and support their sustainability ambitions. Data and analytics have become essential tools for hospitality businesses to make informed decisions about everything, from marketing campaigns to menu development.

We now see businesses collecting and analysing data to tap into the workings of customer preferences and trends. Smart hotels that incorporate automation and connectivity to create seamless and intuitive experiences are gaining prominence. This includes offering customised amenities, recommendations, décor, menus, and personalised services based on guest data and preferences. These technology investments have paid off, as KPMG’s latest Dubai Hospitality Report shows that an overwhelming majority, 94 per cent, of respondents were satisfied with their hotel stay in Dubai.

Navigating challenges

Amidst this impressive growth, Dubai’s hospitality sector is navigating a dynamic landscape marked by rising operating costs, increased competition from short-term rentals, and the need for continuous investment in technology and talent. Global economic uncertainty and evolving consumer preferences for sustainability, wellness, and authentic local experiences add a layer of complexity to the hospitality sector.

Additionally, seasonality remains a challenge, as with any market, with fluctuating demand between peak and off-peak months prompting hotels to refine their strategies and optimise operations year-round. Yet, these challenges have become catalysts for innovation, pushing businesses to rethink traditional models, diversify their services, and develop guest experiences beyond the norm.

A bright future ahead

The diversification of Dubai’s hospitality industry is expected to drive it forward in the mid-term. As new types of accommodation, restaurants, and entertainment venues join the mix, this diversification will cater to a wide range of tourists and residents, from budget-conscious travelers to luxury seekers. According to estimates, 11,300 new hotel rooms are expected to open in Dubai by 2027.

Guests are expected to become more price-sensitive. Consequently, hotels will adjust their prices and focus on numbers rather than relying solely on high-spending customers. The price correction could also affect mid-range and budget hotels, reducing their rates to maintain higher occupancy and stay competitive.

Regardless, Dubai’s hospitality industry is poised for continued growth this year. As the city aims to become the world’s most-visited city by 2025, the hospitality sector must think beyond numbers. The future belongs to those who innovate, embrace sustainability, and craft experiences that leave a lasting imprint on travellers’ minds and hearts. The question is: What will this next wave of transformation look like?

The writer is a partner and head of Real Estate at KPMG Lower Gulf.

Sukoon Insurance has acknowledged the latest bulletin issued by S&P Global Ratings, which reaffirmed the company’s stable outlook and solid standing in the market. The report underscores Sukoon’s continued ability to execute its long-term strategic plans and maintain strong financial performance, despite the ongoing CEO leadership transition.

According to S&P, Sukoon is expected to sustain its diversification efforts both within the UAE and internationally, guided by its board of directors. The agency identified several short- to medium-term growth drivers, including initiatives under Sukoon Takaful, the Lloyd’s syndicate 2880, inward treaty reinsurance, individual life insurance, and the Sukoon Workplace Savings Solution, which serves as an end-of-service gratuity programme. The bulletin also noted that Sukoon’s performance in the first half of 2025 exceeded expectations.

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“The S&P Global Ratings statement is a strong testament to the fundamental strength of our business and the clear vision of our long-term strategy,” said Hammad Khan, Sukoon’s interim CEO and chief financial officer. “Our first-half performance, with a 20 per cent growth in insurance revenue and a 52 per cent increase in net profits, demonstrates the resilience and effectiveness of our team and business model. We are fully committed to building on this momentum and are confident in our ability to deliver continued value for our customers, partners, and shareholders.”

S&P also credited the company’s transformation to the leadership of Jean-Louis Laurent Josi, who took over as CEO in 2018. Under his direction, Sukoon underwent significant changes, including a corporate rebranding, the acquisition of Sukoon Takaful, and the successful integration of life insurance portfolios from Generali and Chubb in the UAE.

For the first half of 2025, Sukoon reported robust financial results, with insurance revenue reaching Dhs3.1bn and net profits climbing to Dhs192m. S&P Global Ratings assessed the company as having strong potential to maintain sustainable and profitable growth moving forward.

From its new headquarters in Dubai, Nasdaq-listed VEON is steering a bold transformation: from a traditional telecom operator to a digital ecosystem powerhouse.

With operations across Pakistan, Bangladesh, Kazakhstan, Ukraine, and Uzbekistan — markets home to more than 500 million people — VEON is delivering services that go far beyond connectivity.

Under CEO Kaan Terzioğlu’s leadership, the company is targeting 50 per cent of its revenue to come from non-telecom digital services within the next three years, leveraging local talent, language-first AI, and inclusive platforms to drive impact.

We spoke with Terzioğlu about VEON’s digital strategy, its move to the UAE, and the vision behind creating “digital nations”.

You moved VEON’s headquarters to Dubai last year. What was the rationale?

The move was driven by Dubai’s operational excellence, especially during the post-COVID recovery. Its global connectivity, safety, and pro-business environment made it the right fit.

By December 2024, we had officially completed the relocation. Today, VEON is the largest Nasdaq-listed company headquartered in Dubai, and we’ve successfully recruited global talent attracted to the UAE’s lifestyle and infrastructure.

VEON operates in some of the world’s most complex markets. How do you ensure business continuity and growth?

We operate in frontier markets with significant potential: Pakistan, Bangladesh, Kazakhstan, Ukraine, and Uzbekistan. These regions are underserved in areas like financial inclusion, education, and healthcare.

Our strategy is to deliver relevant, localised digital services. We maintain a unified strategic vision but empower local execution — each operating company has its own board and independent directors to ensure governance and responsiveness.

Give us more details about VEON’s financial and entertainment services, especially in markets like Pakistan, and how these contribute to financial inclusion and community progress?

In our operating countries, more than one in three people has never had a bank relationship, over 60 per cent don’t have a credit card, and over 70 per cent haven’t had a line of credit. This creates a huge opportunity for financial inclusion.

In Pakistan, our JazzCash digital wallet handles over 10 per cent of the country’s GDP transactions, reaching over 20 million people monthly from a customer base of 50 million.

We issue 141,000 loans daily. These are small loans, like $30 for a taxi driver to fix a tire or a housewife to buy flour to sell cookies. These enable communities to progress and be financially included. We will deploy financial services in all our countries, with success in Pakistan and Kazakhstan.

We have 160 million telecom customers, 40 million monthly financial services customers, and an additional 40 million consuming entertainment services.

Tamasha is Pakistan’s number one OTT platform with 22 million monthly users, and we have similar platforms like Toffee in Bangladesh and Kino in Uzbekistan.

Our philosophy is simple: our countries are data-producing, and it’s vital to process this data locally to create digital services, jobs, and taxes.

We must stop selling raw data and instead provide relevant digital services: financial services, entertainment, education, and healthcare.

Can you elaborate on your transformation into a digital ecosystem operator?

In Pakistan, through our subsidiary Jazz, we operate JazzCash, the country’s leading mobile wallet with nearly 20 million active users and over 171,000 merchant partners. It processes micro loans daily.

We also offer Tamasha, Pakistan’s leading OTT streaming platform with over 22 million monthly active users, and Garaj, our enterprise cloud and cybersecurity platform.

In Bangladesh, our brand Banglalink has launched Toffee, an ad-supported OTT platform with millions of users.

In Uzbekistan, Beeline Uzbekistan runs the Kino streaming service, while Beeline Kazakhstan offers Beeline TV and educational tools built with our in-house tech company QazCode.

In Kazakhstan, QazCode developed a Kazakh-language large language model (LLM) and an AI-powered tutoring assistant that helps school students learn, self-assess, and even earn certifications.

VEON is also active in digital healthcare. Tell us more about that.

In Ukraine, our operating company Kyivstar runs the Helsi platform, which reaches around 28 million users. It offers telemedicine, diagnostics, and medicine delivery. Especially during the crisis, it has been critical in maintaining access to healthcare.

We see platforms like Helsi as essential in redefining what a telecom company can be, delivering real-world impact beyond data and voice.

How do digital services reflect on your revenue mix?

Digital services account for around 15 per cent of our revenue today and are growing by about 1 per cent per quarter.

Our goal is to reach 50 per cent digital revenue within the next three years. We’ve built three technology development companies — QazCode in Kazakhstan, plus teams in Uzbekistan and Ukraine, which allow us to create apps and platforms in-house and at scale.

What’s your approach to AI and local-language innovation?

Global AI platforms often overlook languages like Kazakh, Uzbek, or Bangla. That’s where we step in.

In Kazakhstan, QazCode developed a Kazakh-language large language model (LLM) and an AI-powered tutoring assistant that helps school students learn, self-assess, and even earn certifications.

We’re pushing for digital sovereignty — tools built by locals, for locals.

Are you eyeing expansion into new markets?

Yes, in two ways. First, we want to serve our diaspora. Millions of Pakistanis and Bangladeshis live in the GCC, the UK, and beyond — these are future users of our digital finance or healthcare services.

Second, we see potential in markets like Iraq and Syria, where we would consider expansion when regulatory clarity and stability improve.

What are the leadership values that drive VEON and your personal philosophy?

Everything we do is rooted in purpose and clarity. Purpose means using our platform to improve lives, be it enabling a small loan, delivering a medical consultation, or helping students learn.

Clarity means being decisive, especially in complex environments. Combined, these principles ensure our teams stay focused and ethical while delivering at scale.

In the blink of an eye we have made it to the first half of 2025, and Dubai’s real estate market is not only outperforming expectations – it’s evolving with a deeper sense of purpose.

We saw nearly 99,000 property transactions in just six months, a record-breaking number that speaks volumes about investor confidence. But what fascinates me more than the data is the shift in mindset. Behind those transactions are people asking questions that go far beyond square footage and ROI. They’re asking about where to raise their children, how the healthcare system functions, and what kind of life they can build here. That tells me this market is growing in maturity, not just volume.

Buyers today are far more diverse nationally, financially, and emotionally. I’ve met families from across Europe – Germany, Portugal, Spain, France, the Netherlands – many of whom had never previously considered Dubai. What’s changed? It’s not just about opportunity anymore; it’s about lifestyle, stability, and the genuine intention to make Dubai a long-term home.

This shift isn’t confined to residential property alone. For the first time in nearly twenty years, I’ve had the opportunity to launch off-plan commercial buildings in Motor City, JVC, and Business Bay.

The response has been electric. Entrepreneurs are looking for practical, well-sized Grade A spaces to set up businesses here. It’s clear that Dubai’s reputation as a commercial hub is being translated into real, bricks-and-mortar investment.

The question that often follows such growth is whether prices will correct itself. My honest opinion? Yes, but modestly, and selectively.

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Prime and emerging areas will remain robust due to limited supply and sustained demand, especially as Dubai’s population nears the 4 million mark and continues rising. Where we might see softening is in less strategic locations or from developers who have failed to deliver on promised lifestyle value. There’s been some buzz about a slight dip in off-plan activity, but this is not a downturn – it’s a recalibration.

Not all families moving to Dubai are looking for ready homes – they’re taking the time to rent, understand communities, and buy with more clarity.

Meanwhile, off-plan options remain attractive to international buyers dealing with cross-border finance limitations, thanks to flexible payment structures. Both segments are strong, just driven by different needs.

Finally, the recently announced First-Time Home Buyer initiative is a game-changer. This new approach aims to make property ownership more accessible for residents by offering priority access to new launches, preferential pricing, and flexible payment plans. Eligible buyers – UAE residents over 18 who don’t own freehold property in Dubai – can also benefit from tailored mortgage solutions and interest-free installments on registration fees.

It’s a brilliant move toward encouraging homeownership among mid-income residents and cultivating long-term stability. I see this resonating not just with young professionals but with families exploring how to support their adult children onto the property ladder.

It’s another example of how Dubai is proactively shaping a market that’s resilient, inclusive, and ready for the future.

So yes, the numbers are thrilling, but the real story is quieter and more powerful – it’s the story of people choosing to stay, to build, and to belong. That’s what makes Dubai’s real estate scene in 2025 not just impressive, but profoundly meaningful.