logo
HITEK AI unveils innovative AI Hologram Assistant - Middle East Business News and Information

HITEK AI unveils innovative AI Hologram Assistant - Middle East Business News and Information

Mid East Info13 hours ago

Multilingual and interactive digital training solution is set to transform FM training and service support with significant improvements in workforce readiness, operational compliance, safety standards and overall productivity
Dubai, United Arab Emirates: HITEK AI , a pioneering leader in advanced digital facility management solutions, part of the Farnek group of companies, has unveiled its latest innovation, an AI-driven Hologram Digital Trainer designed to transform FM workforce training and operational excellence.
This revolutionary holographic solution integrates cutting-edge artificial intelligence and immersive technology, redefining traditional training methods across multiple industries including mining, oil & gas, manufacturing, healthcare, hospitality, retail, commercial use and aviation.
The HITEK AI Hologram Digital Trainer employs sophisticated AI capabilities, providing interactive and lifelike training experiences. Trainees interact seamlessly with virtual trainers capable of responding to queries in real-time, delivering engaging, personalised training sessions tailored to specific operational requirements. The innovative solution supports multilingual training in both Arabic and English, ensuring broad accessibility and efficient knowledge transfer.
'This AI Hologram Digital Trainer represents a transformative leap in workplace training and operational management,' said Javeria Aijaz, Managing Director of HITEK AI UAE. 'This pioneering technology not only enhances employee engagement and knowledge retention but also significantly boosts operational efficiency by delivering consistent, scalable, and high-quality training experiences.'
Key features of the HITEK AI Hologram Digital Trainer include real-time interactive learning, which employs engaging and responsive holographic trainers providing real-time feedback. Training sessions can also be personalised, with tailored training modules, that can address specific industry needs. Indeed, participants can also raise service requests which are integrated with HITEK CAFM and in the case of hospitality clients, through its dedicated FlexiGuest solution.
Another key benefit is its scalable deployment, which encompasses simultaneous sessions across multiple sites which ensures uniform training standards. These immersive training experiences significantly improve knowledge absorption and subsequent application.
'Organisations adopting our innovative holographic solution can expect significant improvements in workforce readiness, operational compliance, safety standards, and overall productivity,' added Aijaz.
About HITEK AI:
HITEK AI, part of Farnek Group, leads the region with innovative digital facility management solutions leveraging AI, IoT, and cloud technologies, fostering operational excellence and sustainable business practices.
About Farnek:
Farnek is the leading provider of sustainable and technology-driven Facilities Management in the United Arab Emirates. Established in the UAE since 1980, Farnek Services LLC is a Swiss- owned independent total facilities management company. With a skilled workforce of more than 10,000 employees, Farnek delivers professional Facilities Management services across several sectors: Aviation, Hospitality, Banking, Retail, Telecom, Residential, Commercial, Infrastructure, Government, Education, Leisure, and Entertainment.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

HITEK AI unveils innovative AI Hologram Assistant - Middle East Business News and Information
HITEK AI unveils innovative AI Hologram Assistant - Middle East Business News and Information

Mid East Info

time13 hours ago

  • Mid East Info

HITEK AI unveils innovative AI Hologram Assistant - Middle East Business News and Information

Multilingual and interactive digital training solution is set to transform FM training and service support with significant improvements in workforce readiness, operational compliance, safety standards and overall productivity Dubai, United Arab Emirates: HITEK AI , a pioneering leader in advanced digital facility management solutions, part of the Farnek group of companies, has unveiled its latest innovation, an AI-driven Hologram Digital Trainer designed to transform FM workforce training and operational excellence. This revolutionary holographic solution integrates cutting-edge artificial intelligence and immersive technology, redefining traditional training methods across multiple industries including mining, oil & gas, manufacturing, healthcare, hospitality, retail, commercial use and aviation. The HITEK AI Hologram Digital Trainer employs sophisticated AI capabilities, providing interactive and lifelike training experiences. Trainees interact seamlessly with virtual trainers capable of responding to queries in real-time, delivering engaging, personalised training sessions tailored to specific operational requirements. The innovative solution supports multilingual training in both Arabic and English, ensuring broad accessibility and efficient knowledge transfer. 'This AI Hologram Digital Trainer represents a transformative leap in workplace training and operational management,' said Javeria Aijaz, Managing Director of HITEK AI UAE. 'This pioneering technology not only enhances employee engagement and knowledge retention but also significantly boosts operational efficiency by delivering consistent, scalable, and high-quality training experiences.' Key features of the HITEK AI Hologram Digital Trainer include real-time interactive learning, which employs engaging and responsive holographic trainers providing real-time feedback. Training sessions can also be personalised, with tailored training modules, that can address specific industry needs. Indeed, participants can also raise service requests which are integrated with HITEK CAFM and in the case of hospitality clients, through its dedicated FlexiGuest solution. Another key benefit is its scalable deployment, which encompasses simultaneous sessions across multiple sites which ensures uniform training standards. These immersive training experiences significantly improve knowledge absorption and subsequent application. 'Organisations adopting our innovative holographic solution can expect significant improvements in workforce readiness, operational compliance, safety standards, and overall productivity,' added Aijaz. About HITEK AI: HITEK AI, part of Farnek Group, leads the region with innovative digital facility management solutions leveraging AI, IoT, and cloud technologies, fostering operational excellence and sustainable business practices. About Farnek: Farnek is the leading provider of sustainable and technology-driven Facilities Management in the United Arab Emirates. Established in the UAE since 1980, Farnek Services LLC is a Swiss- owned independent total facilities management company. With a skilled workforce of more than 10,000 employees, Farnek delivers professional Facilities Management services across several sectors: Aviation, Hospitality, Banking, Retail, Telecom, Residential, Commercial, Infrastructure, Government, Education, Leisure, and Entertainment.

Private Credit: The Middle East's next financial frontier
Private Credit: The Middle East's next financial frontier

Mid East Info

time15 hours ago

  • Mid East Info

Private Credit: The Middle East's next financial frontier

By David Beckett, Head of Origination at SC Lowy Over the past decade, the private credit industry has experienced robust growth, positioning itself as a crucial alternative to traditional bank financing. Now valued at $2 trillion in assets under management as of April 2024, this asset class has become an indispensable part of global capital markets, according to the International Monetary Fund (IMF). Concurrently, the Middle East has grown into an economic powerhouse. The region, especially Saudi Arabia and the UAE, has witnessed transformative economic shifts that have created fertile ground for private credit investment. As these nations diversify their economies and modernize their infrastructures, private credit is emerging as a key enabler of economic growth and a valuable tool for investors seeking high returns in an evolving financial landscape. Private credit is a rapidly growing asset class however this expansion remains heavily concentrated in developed markets. North America dominates with approximately $1.1 trillion in AUM, accounting for about 55% of the global total. Europe follows with roughly 23%. In contrast, Asia represents just 5.7% of global AUM — while the remaining share, covering the Middle East, Latin America and Africa, collectively accounts for less than 3% despite representing nearly 25% of global GDP. Private credit remains significantly underrepresented in the Middle East, accounting for just 0.2% of global assets under management, but this figure belies a rapidly evolving growth story. In Saudi Arabia and the United Arab Emirates, policy reforms, legal overhauls, and ambitious economic diversification plans are laying the groundwork for the region's emergence as a viable, and attractive, destination for private credit investment. Driving investor confidence Saudi Arabia and the UAE have taken major steps to modernize their financial infrastructure, laying critical foundations for private credit. Saudi Arabia's 2018 Bankruptcy Law introduced structured insolvency and restructuring procedures, with over 850 cases processed to date, many under the Financial Restructuring Procedure (FRP). These outcomes are creating legal precedent and boosting investor confidence that distressed situations can be resolved through enforceable, negotiated recoveries. In parallel, the UAE overhauled its bankruptcy framework in 2024, introducing specialized courts, clearer timelines, and formal mechanisms for restructuring and debtor-in-possession (DIP) financing, already tested in landmark cases like Emirates Hospital Group and JBF RAK. Other GCC countries including Bahrain, Kuwait, and Oman are following suit with reforms aimed at improving creditor protection. Meanwhile, financial free zones like ADGM (Abu Dhabi) and DIFC (Dubai) provide international investors with the legal certainty of English common law, arbitration capabilities, and a neutral legal environment, further strengthening the region's appeal for structuring and enforcing private credit deals. India offers a useful point of comparison. Since the introduction of its Insolvency and Bankruptcy Code (IBC) in 2016, the country's private credit market has expanded from under $1 billion to more than $25 billion in AUM. Despite some procedural inefficiencies, the IBC has significantly strengthened creditor rights, attracting both global and domestic private lenders. Analysts forecast this momentum could push India's private credit market to $60-70 billion by 2028, demonstrating how regulatory reform can rapidly scale an alternative credit ecosystem. The GCC, particularly Saudi Arabia and the UAE, appear poised for a similar trajectory with some clear advantages. These markets are well-capitalized, their economic diversification plans are state-backed, and sectors such as infrastructure, tourism, healthcare, digital services, and clean tech are rapidly expanding. This wave of mid-market businesses urgently requires flexible, non-bank financing that traditional lenders, often focused on sovereign or GRE clients, are unable or unwilling to provide. At the same time, local banks are beginning to offload non-performing loan portfolios, signaling the emergence of a more active secondary market for distressed credit. Adding further momentum, regional sovereign wealth funds and family offices are increasingly backing private credit strategies as LPs or co-investors – deepening liquidity and institutionalizing the asset class. Real demand, real collateral While legal reforms provide the foundation, demand-side dynamics in Saudi Arabia and the UAE are equally compelling. In Saudi Arabia, the industrial sector, especially manufacturing, logistics, and downstream petrochemicals, is expanding rapidly, yet traditional banks remain focused on sovereign-led mega projects. Private credit can bridge this gap, funding mid-sized corporates with asset-backed loans that offer downside protection and strong risk-adjusted returns. In the UAE, smaller developers and businesses in real estate, hospitality, and services are underserved as banks hit exposure limits. Private lenders are stepping in with mezzanine and senior-secured loans backed by hard assets. Across both markets, tangible collateral, conservative LTVs, and clearer enforcement mechanisms are creating compelling private credit opportunities with attractive yields and real downside protection. Foundation to frontier The private credit story in the Middle East is still in its early chapters, but the narrative is taking shape. Legal and institutional reforms are aligning with macroeconomic transformation, creating a fertile environment for private credit to scale. If India's experience over the last decade demonstrates how market evolution can accelerate with the right reforms, then Saudi Arabia and the UAE are following a similar, perhaps faster, path. For global and regional investors, the Middle East presents a compelling case: strong macroeconomic backdrop, rising demand for alternative capital, improved legal protections, and untapped market potential. Those who position early may benefit most as the region matures into the next global hub for private credit. ENDS About SC LOWY SC Lowy is a leading alternative asset manager with $1.6 billion in assets under management, specializing in opportunistic credit, special situations, and private credit across Asia Pacific, the Middle East, and Europe. Founded in 2009, the firm operates out of nine global offices with a team of over 50 experienced professionals. At SC Lowy, we leverage our deep market expertise and local presence to overcome barriers to entry in fragmented markets. Our dedicated local teams cultivate long-standing relationships, granting us prime access to untapped investment opportunities. We focus on solid, cash-generating businesses and prioritize capital preservation, with a strong emphasis on downside protection through senior secured lending backed by hard assets. With a proven track record in both private credit closed-end and open-ended funds, SC Lowy is committed to delivering innovative financial solutions that maximize value for our investors. Our approach combines rigorous credit analysis with a focus on mitigating risk, ensuring robust returns while safeguarding capital. For more information, visit

Malaysia's National News Agency Joins International Media Cooperation through TV BRICS
Malaysia's National News Agency Joins International Media Cooperation through TV BRICS

See - Sada Elbalad

time2 days ago

  • See - Sada Elbalad

Malaysia's National News Agency Joins International Media Cooperation through TV BRICS

Yara Sameh TV BRICS is expanding its network of partners in ASEAN countries and has begun cooperation with Malaysia, according to TV BRICS. The Malaysian National News Agency, Bernama, has joined the information exchange through the TV BRICS International Media Network. At the 28th St. Petersburg International Economic Forum (SPIEF), an agreement on joint work was signed by Ivan Polyakov, Chairman of TV BRICS, and Nur-ul Afida Kamaludin, CEO of Bernama. The partners' cooperation will be aimed at strengthening ties between BRICS and ASEAN countries in the field of mass communications and forming an objective international agenda. With the assistance of TV BRICS, Malaysia will gain access to the latest news from other countries from primary media sources and will be able to promote its own content abroad. "Apart from providing services to its clients using wires, Bernama also provides news broadcasts through its own BERNAMA radio and television channel, which operated 24 hours a day as well as its social media platforms. Bernama prioritises collaboration with international news agencies to ensure that its content can reach audiences on various platforms at the regional and global levels," she added, "This partnership reflects Bernama's ongoing commitment to building an international media network that supports balanced reporting, promotes intercultural dialogue and expands its reach to the BRICS region and beyond" said CEO of Bernama Nur-ul Afida Kamaludin. Bernama, Malaysia's National News Agency, was established in 1968. Its headquarters are located in Kuala Lumpur. Bernama, which includes the portal, the 24-hour Bernama TV channel and BERNAMA radio, specialises in socio-economic and political topics and is the main source of information in Malaysia. It operates in Malay, English, Chinese, Tamil, Arabic, and Spanish. Bernama has a network of partners in all ASEAN countries and other Asian states, as well as in Europe and the United States. "The TV BRICS International Media Network supports and regularly covers Malaysia's active participation in organisations such as ASEAN and BRICS. We also note the important contribution of Bernama News Agency in promoting the potential of Malaysia and ASEAN countries in the global information space. I am confident that the information partnership between Bernama and TV BRICS will contribute to further rapprochement between the peoples of our countries in the interests of global stability, the development of multilateral cooperation in the field of culture, sustainable economy, scientific, and industrial cooperation," said Chairman of TV BRICS Ivan Polyakov. Malaysia became the 27th country to officially join the international information exchange through TV BRICS, with the media network's information presence reaching more than 80 countries. In May 2025, Malaysian Prime Minister Anwar Ibrahim gave a big exclusive interview to the TV BRICS International Media Network at the 16th International Economic Forum "Russia – Islamic World: KazanForum." read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store