Emaar Properties chairman Mohamed Alabbar has called on businesses to challenge the dominance of global technology giants, arguing that AI could finally break the grip of companies that have spent years dictating the terms on which businesses operate.
Speaking at the Dubai Fintech Summit, Alabbar criticised the market power of Microsoft, Oracle and other technology providers, questioning how businesses could realistically negotiate with suppliers that dominate their respective markets.
He also warned that AI itself could become the next monopoly, with a handful of companies controlling the technology on which the global economy increasingly depends.
“I think we should challenge all of them,” Alabbar said, when asked whether regional businesses should take on established monopolies.
Building noon
The Emaar chairman pointed to his experience building noon, the Middle East e-commerce platform, as an example of why competition matters. More
By Justin Harper Arabian Business
