Closing Remarks

[Music] good afternoon your excellencies ladies and gentlemen I'm really pleased to be here Linda this is so beautiful I'm really honored for those words um such a beautiful things to introduce me here and but it's not not strange from you I really honored for the kind words you have mentioned today and I'm really very pleased to be at the um um ad ad for the invitation of adjm at the resolve um to do the closing Mark I've been following up the speakers I have um mik my colleagues here been since in the morning I was driving from by and I've been getting a notes of everything's being said this morning to be up to date on um very complex very interesting speaking that have covered number of very very very important issues uh I hope that I could live to the standard that Linda had set up for me before I get on the podium to to today and speak to you my name is Assam altimimi and the chairman of um um altim and Company at local established Law Firm which I proudly continue to work for I've been a lawyer for 40 years um in the UA and I have witnessed so many things that has evolved uh in the UA in the legal profession business insurance banking the setup of adgm the IFC and also the evolvements of the UAE legal system um it's unbelievable Journey uh it will not take me the the few minutes I I'm going to talk to you to share with you some of the things that happens in the UAE that makes me very proud of this nation however I'll share with you some of the thoughts that issues has been discussed today in terms of um courts litigations environmental issues AI which is really a very current and important issues and it surprised me sometimes how politicians in particular politician takes it so lightly and I think the problem that I see when I watch cop 28 or 25 or 26 is that fight that intelligent people who specialize on the area have to drill the these ideas through politicians who trying to avoid the issues it reminds me many years ago when I basically goes to the authority here and it's my job today is extremely easy to try to talk about the legal system the judicial system and if you talk about from I gather from the token that that you had today and mik my colleagues has reported very well on it they seems to be around the words seriously around the world four top enforement issues on the agenda is the legal system which involve of course courts and rule of law which we all today witnessing the challenges with its all of One AI uh environmental issues with regard to the carbon and then the emerging the merging of new countries around the world and this is what we witness in today the changes that's happening around the world I read a book maybe 12 years ago and I was very happy in reading it I think it was written by um um an editor one of newspapers in New York Washington is basically and some of you may have read it basically it says talked about the word being flat the word flat that's the name of the book and every time I actually see what's happening around the world today I actually that it comes to me that words because he was talking about how basically the word has lost the Competitive Edge and literally all countries today knew the ingredients everybody can be competitive everybody can manufacture car everyone can basically attract investor to their countries production but when I look about this when I remember about the title of the book something else basically goes to my mind today the word today is not only flat it's flat and Tangled um um and Tangled in so many ways and and and in different things um whether the conflict we seeing around the world which affecting affecting all of us and I think will continue to affect all of us the until things settled and this is partly happened because of the bad management from the top countries around the world or the small countries around the world badly managed issues and um but also uh it's it's going to affect many things around the world it's to already have affected um as we all witness the rule of law um around the world it's made all the international institutions irrelevant um and it's made it's also um we need to look at um whether there is a chance to re revamp um um these International institutions whether the United Nation or others and the same politician I've been talking about is the abstract to all these changes and renov renovation so what's What's um relevant to us today here it's extremely relevant because for any investors in my opinion in the future and I've stood around and I I and I said it if you want to know what's going to happen around the world in the future you need need to look at that in the eyes of 15 or 16 years old boy or girl you need to see what those people looking at the words how they operate and what their Ambitions and the way basically they use technology I see people a lot of people talks about Ai and applied Ai and I'm not an AI dis experts but through my life I I start um um uh understand that sometime when I help help my wife cooking and I understand how much salt I could put in the mail and how much basically oil I can put it for the male to come out as a good male so I am a good judgment of ingredients for the ingredients to come successful one and today many countries talk about AI including courts countries and I'll tell you the problem that I personally share I will share with you my thought that I having with the way that um States reflecting on II um the first which is the simple things is the over regulations usually you have an over regulations for two reason either because because the person is uninformed or because he's scared and it surprised me today why if AI is an international idea that apply for the the whole Nations internationally why Europe Africa America Middle East do not regulate the same AI rules everywhere why we would need a set of rules for Europe set of rules for America set of rules for Africa and set of rules for nothing that's itself going to create a hall in the AI system because we all know that if you're going to create an AI rules for Europe they were going to have a big hole in the system elsewhere with the technology and the speed with the internet and with the way things are happening people basically going to use AI elsewhere um in a in a different way and they will be a different provider elsewhere um leaving it for Europe and America to and again it's basically buzzle me is the not only the failure of of of of of um um um um politician is also um um is the inexperience it's what's all AI is going to do to us in in the future and that's exactly my next Point whatever I seen P AI applied um anywhere I think people misjudge how how important this subject is they actually think this is only another um data Pro processing system that can basically speed the process of giving calculating 1 plus two 1+ 1 is two which is exactly not and that's when I think even the courts that I work with the judicial I know that Minister today addressed you in the morning about the use of AI and I've been telling them that this is scratch in the surface it's totally nothing because really the AI could help countries hospitals people just imagine today and again we need to look at it in the eyes of the 15 and 16 years old boy or girl to understand how the AI is going to be serve them in 20 30 years it is it is more than just basically taking my car to the garage and and and and today I have to examine it and try to tell me okay you need to change an oil or change your brakes in the future the AI in my car is going to tell me okay your car is due for service you need to change your Brak or the diagnosis of your car need to but that's not the AI we will need to talk about um in in the future it's much Beyond this and until in my opinion people comprehend that it is beyond processing and uh calculating and try to analyzing things then I think countries succeed and I'm really very proud of Abu dby in particular in the United Arab Emirates and things I'm actually as crazy as he is El Musk I actually like him um because I actually think he knows um what's all about and and and when it comes to AI he's just ahead of everything else the way and as you probably heard UA has established a wonderful um um partnership with Microsoft and g42 and adnoc to create a platform for for the ey because they I tell you what they recognize they recognize that this is the future they recognize that any country want to do this requires as we learned from our speaker huge power to run um um um those servers and recognize um um that the talents that needed be be beh behind it and at the same time it's relevant what our speaker here has talked about today is the clean energy so if you combine all this together the clean energy that's the UA trying to drive behind the AI to get the AI to works with um carbon um um um sufficient process to reach clean um um um energy in the future to support the the projects which they establishing with Microsoft and g42 and adnoc uh it will give you an idea how politician and countries really should come about their thoughts when it comes in combining these three things together um um um the future of their Nations and the EV evolving of the country the use of AI and the power behind it and the clean energy which support it because it's a fact small countries um they cannnot um um um establish on own than AI efficient AI system because of the power and if you're going to give them to use the carbon then they basically let go everything against what the words and that's why this initiative is not only in my opinion is good for the uee but is is good for the words and looking again at the um um um judicial system and the courts arbitration institutions the good things about again Court institutions arbitration dispute resolution and I some some of my colleagues all throughout the day establish how important this whether on the class actions or on on on on on on um um um transactional mergers and acquition and or or different dispute that may have arise on on on on the issues discussed but I really truly believe if that's if courts around the world including the UAE if they don't starts adopting to um um the AI system the way it should be the train is going to leave leave leave the station on them and and if you continue to believe in the arbitration system and that's very interesting in impartation I want to spend one minute boring you with arbitration institution today there is about four or five major International arbitration institution and when I talking about the words flats and people understanding the ingredients all the institutions are copying from each other so the rules are all the same they are almost the same institutions the only thing managed difference between one institution and another whether it's the IC lcia sayak Abu Dhabi daak Dubai is the way they manage your case the internal administrator of the manage case managers internally and if you understood and you comprehend and this is very important for you to comprehend as a as an arbitration institution that your case managers could be actually a system rather than an individual um you will be totally ahead of the game if you adopt AI into these institutions then you'll basically there to stay and succeed I have um colleagues in my firm used to come to me in the firm in the nice words that Linda has spoken about the firms and tell me Asam what's keep you Sleepless at night I tell him one thing and I'm really very nervous about this all the time I'm always nervous that the words around me move faster than the firms internally because that will make us Irrelevant in a very short period of time and I think this is a a very important talks that arbitration institutions and courts needs to um um discuss internally among themselves uh are they moving enough to the speed of Microsoft to the speed of Ellen musk to the speed of um um um Google or not because if they answer this question they realize how behind they are and how irrelevant they might be in the future because that's a fact it is just there in front of you are you and we already have we' seen and again I believe it's a scratch in the the service AI moving and trying to decide on mediation which is very good for mediation today because it's it's neutral and mediation doesn't give any conclusion and I AI has been very effective in trying to tell people I looked at your case I think you have these weaknesses you should settle I look at the case you have a wonderful case but yeah you can you you can analyze this but again that's crash in the in in the service and I think institutions um courts including in my opinion Linda adgm Court um um um and I think and the nice thing about abudhabi we have um the resources and the talents who's been um um invited from abroad to help us with our AI developments to try to change the culture um I Heard um um um Mr uh um Sultan jabas said a wonderful word once about Ai and I really think this is something we all think about it um he said we don't talk about AI as artificial intelligence he said we talk about that about AI is artificial [Music] um um I I wrote it down actually somewhere um um because I wanted to remember it for you because I think it's a very applied intelligence rather than artificial intelligence it's something that you apply to your organization every day and part of your growth process and that's I think countries institutions and and and and and and businesses should look at the our artificial intellig intelligence when they come to apply for it as far as the uh talk that I've heard which very interesting and I really enjoyed uh the sessions that I I I catched up with on the um energy um I'm actually with all the negativity about the environments and the Eng I'm very optimistic um and the reason I'm optimistic I think there there's serious players who want to see changes and there's a serious players who want to apply changes and I really love the attitude of the UAE I truly love um um it is an admission that we are a carbon country is an admission that yes we have a carbon so we're not in denial but I'm doing something about it um and and and it's the worst thing to be in the defensive side of things um and you do changes and try to make the changes and I think the UA attitude with regard to renewable energy has has been this way yes we are a carbon country I think it is a problem and I'm not denying it and I'm doing something about it and I think this is the great things if all countries around the world will acknowledge these facts that that you have a problem you need to do anything about it and as you know and you hear it in the news every day a lot of people is denial a second things that basically keep me sleepless at night is being in denial it's the worst thing that you could have in in in life in any organization again and I actually believe those who are making the changes will be U um um in in in a in a um a good lead and a good example to follow for many many countries when it comes to the environmental changes and I'm actually despite whatever you hear and the negativities and I'm really glad about Miss Lee that I um talking about the fact that they're going to scrap scrap the um big papers because that's exactly the what the things that we don't need we don't need this big reports and big analysis and big uh things um that's only published and the facts is is total to to totally different um I want to also talk about um in in my final stand here before leaving you too too long here because I know that it is I'm the closing speaker on a long day um but I want to congratulate the aggm on this uh Finance week I really very impressive I took a walk this morning it's is I want to congratulate adgm and the government of ab and all the partners for what they doing here is that um the role that the adgm and thefc courts and the UA judicial system has has played I think again one of the things that um the UA judicial system is recognizing for sure they're not in denial they KN KN knew there is a big weakness in the UA judicial system and they could not fix it and it's still not fixed it's improved a lot and the Minister of Justice if he stood before you he's very genuine person and he probably the best Minister we ever had in the ministry and seriously and they working very hard to improve in the judicial system and changing the process the Manpower the talent the professional but I can tell you for sure I've been practicing glor here for 40 years we probably have um the best independent judicial system in the world um the best in judicial system Independence in the word I as a lawyer try to influence it sometime Tred to push things around sometimes and I failed and in many way um because it's very independent uh despite who your client is u in the case so part of the recognition in the UAE of the changes that's need to happen they established the the the adgm courts and basically the DFC courts and again I challenge any country in the world they have the courage of basically curving part of their land and saying on this land you're going to apply an English law and you're going to bring English judges to decide on this land I think in some countries they're probably going to have a revolution if they did this um but the UAE did this to um create the environmental until the judicial system on the main ground get up to standard they have created a Judicial System that's suitable for international investors that speaks the same language as their documents that English judges that they experience English judges that common law judges they come in to deal with these cases and they allowed U people to opt in in those Jud judicial system and provide and I must say I'm extremely proud of having to stand before those courts and works with them um for the Lo for the cases I win all the cases I lose sometimes um um for the professional ethics and the standard that adgm court and the DFC Court uh has done and I think I'm also again a Believer it's very difficult for any countries U to do it but the UAE with that vision and that determination and I really want to cont congratulate the aggm for the um what I call it is the um um the the the judicial system um that they have created here and the service they provided and for everything that was talked about this morning whether the um class actions the um the mergers and Acquisitions the businesses that they going to invest here the AI contract the copyright the treadmarks the patents all these complex issues um we already geared here in the uee to deal with at the adgm or the IFC courts with qualified judges to deal to deal with those um and I'm I'm sure um things will will will even be better with the initiative that you having an applying te technology um as I said I'm not a government person I'm very independent um but I um am very impressed of the way that this country has evolved and have progressed and I really um believe um a lot of things yet to come and I hope that among yourself and whoever in this room and people who's out side if you're going to think of applying artificial intelligence don't you waste your money and changing a small server in your firm because that's waste of money um you need to go big and you need to understand um the future again in the eye of a 16 or 15 years old young talented person to apply this um um technology and I think we could benefit extremely a lot whether on the judicial system arbitration medical lawyering and I've heard today in the statement that people said about 30 jobs um were were were not there um um 30 30 years ago and I agree with that statement actually what of the speakers mentioned this morning um but also with the what what I saying with artificial intelligence I'm very optimistic istic about the fact that um there are many other jobs will be created I'm actually on I actually believe it's the other wayse around you heard that today our speakers and the problems going to be created and the issues if anything we probably need more lawyers um around in the future um to deal with all these issues and the challenges we facing facing whether with with with intellectual property issues or with with other issues of of of challenges that people people need so the opportunity there the future there and I hope that the words would recognize this and um um the conflict around us that basically will will will go go away soon and I'm sure this is all an evolving a few new words that's that's going to settle somewhere somewhere and we hopefully we all be part of it thank you very much [Music]