Latest news with #RashitMakhat
Khaleej Times
2 days ago
- Business
- Khaleej Times
Too much AI control now can be a risky business, tech entrepreneur says
As artificial intelligence becomes more embedded in everyday business in the UAE, what are the dangers of giving it too much control? While AI is dramatically speeding up workflows and delivering big efficiencies, experts are warning that relying on it too heavily, too soon, could backfire. Recent insights show that AI works best as a support tool, not a decision-maker. When businesses let machines steer strategy, hiring, or customer service without human oversight, the risks are real. Tech investor and entrepreneur, Rashit Makhat, is among those urging caution on the grounds that, while AI can crunch data and offer options in seconds, it doesn't yet understand people, context, or consequences. 'In today's business environment, the human touch matters more than ever,' says Makhat, Director and co-founder of UAE tech venture company, Scalo Technologies. 'AI will transform business, make companies faster, smarter, and more efficient, and no-one wants to be left behind. 'But while AI can draft entire business plans in moments, unlike humans, it doesn't think. It doesn't feel. It doesn't understand people. If businesses forget that, they could be heading for trouble'. The idea of machines running entire industries is not new. But what are the consequences, when we take AI out of the lab and into the boardroom? Harvard Business Review watched a series of executive team meetings at an $85 million revenue Austrian company. They found that what makes AI a valuable team member is that it helps execs see more options. And it provides information quickly to speed up decisions. 'AI worked best when guided by humans, supporting but not replacing, decision-making,' said Makhat. 'The best ideas came when the AI prompted executives to think differently. When they did, they made better choices. AI wasn't the leader - it was the assistant.' The experiment can't disguise AI's broader impact on corporate decision-making. Some experts predict it could soon run entire departments, or even whole companies. But problems can occur when people treat AI like it's already in charge. In February, three lawyers in a lawsuit against Walmart were fined $5,000 by a US judge in Wyoming for citing fake cases generated by AI. The judge said they had a duty to check their sources were real. Reuters also reported that over the past two years, more US judges have raised concerns or disciplined lawyers for using AI-generated cases and quotes in court. 'The most successful companies aren't those that rush to adopt every new technology,' says Makhat. 'They're the ones that mix innovation with human intelligence. Startups, in particular, must be extra careful. AI should sharpen human judgment, not take its place.'
Mid East Info
2 days ago
- Business
- Mid East Info
Too much AI control now can be a risky business - Middle East Business News and Information
Tech entrepreneur Rashit Makhat says the human touch is still vital to reach the best decisions Dubai, UAE, 5 June 2025: As artificial intelligence becomes more embedded in everyday business in the UAE, what are the dangers of giving it too much control? While AI is dramatically speeding up workflows and delivering big efficiencies, experts are warning that relying on it too heavily, too soon, could backfire. Recent insights show that AI works best as a support tool, not a decision-maker. When businesses let machines steer strategy, hiring, or customer service without human oversight, the risks are real. Tech investor and entrepreneur, Rashit Makhat, is among those urging caution on the grounds that, while AI can crunch data and offer options in seconds, it doesn't yet understand people, context, or consequences. 'In today's business environment, the human touch matters more than ever,' says Makhat, Director and co-founder of UAE tech venture company, Scalo Technologies. 'AI will transform business, make companies faster, smarter, and more efficient, and no-one wants to be left behind. 'But while AI can draft entire business plans in moments, unlike humans, it doesn't think. It doesn't feel. It doesn't understand people. If businesses forget that, they could be heading for trouble'. The idea of machines running entire industries is not new. But what are the consequences, when we take AI out of the lab and into the boardroom? Harvard Business Review watched a series of executive team meetings at an $85 million revenue Austrian company. They found that what makes AI a valuable team member is that it helps execs see more options. And it provides information quickly to speed up decisions. 'AI worked best when guided by humans, supporting but not replacing, decision-making,' said Makhat. 'The best ideas came when the AI prompted executives to think differently. When they did, they made better choices. AI wasn't the leader – it was the assistant.' The experiment can't disguise AI's broader impact on corporate decision-making. Some experts predict it could soon run entire departments, or even whole companies. But problems can occur when people treat AI like it's already in charge. In February, three lawyers in a lawsuit against Walmart were fined $5,000 by a U.S. judge in Wyoming for citing fake cases generated by AI. The judge said they had a duty to check their sources were real. Reuters also reported that over the past two years, more U.S. judges have raised concerns or disciplined lawyers for using AI-generated cases and quotes in court. 'The most successful companies aren't those that rush to adopt every new technology,' says Makhat. 'They're the ones that mix innovation with human intelligence. Startups, in particular, must be extra careful. AI should sharpen human judgment, not take its place.' Ends
Khaleej Times
29-04-2025
- Business
- Khaleej Times
Middle East tech startups advised to raise their game as competition intensifies
Middle East tech startups have been warned to raise their game as global competition heats up across the region, particularly in the UAE and Saudi Arabia, where an influx of international founders is redefining the landscape. With Dubai firmly positioned as a magnet for international tech talent and Abu Dhabi emerging as one of the region's fastest-growing startup hubs, posting a 28% increase in ecosystem value last year, founders are under growing pressure to prove their worth in an increasingly selective investment climate. Saudi Arabia, meanwhile, continues its rapid rise as a startup powerhouse, backed by Vision 2030 and government initiatives that are attracting both local and overseas companies aiming to tap into the Kingdom's evolving digital economy. Rashit Makhat, Director and co-founder of Scalo Technologies, the UAE tech venture company, says this fast-changing environment means founders must not only demonstrate strong business models and scalable ideas, but also show resilience, adaptability, and deep market understanding. 'Entrepreneurs can no longer rely on a good idea alone,' says Makhat. 'They need a clear plan to scale their business. They must demonstrate a deep understanding of their market, and that their product or service can not only survive, but thrive, in a rapidly changing economic landscape. Today's investors are more cautious, prioritizing startups with proven track records, scalable business models, and clear paths to profitability. Entrepreneurs must focus on building a strong brand, creating a loyal customer base, and demonstrating their ability to adapt to market changes.' He points to the success of regional startups like eyewa, the Middle East's largest online eyewear retailer, as an example of the level of maturity and clarity investors now expect. The company raised $100 million in Series C funding towards the end of last year to expand R&D, talent acquisition, and retail presence. 'This highlights how selective investors are becoming' said Makhat. 'Only startups with a clear value proposition, a solid business model, and a strong potential for growth, can attract significant funding.' To help startups succeed and stay ahead, he recommends five key principles: • Motivation: Having a strong reason for starting your company can help you stay motivated. • Intuition: While data and numbers are important, sometimes you need to trust your gut. Your intuition can help you make good decisions, especially when things get tough. • Courage: The tech world is full of risks and uncertainties. You need to be brave and willing to take chances to succeed. • Foresight: It's important to think about the future and be prepared for what's to come. This means staying up-to-date on trends and technology. • Inspiration: Building a successful company can be inspiring, but it's also important to be inspired by others. Look for role models and mentors who can help you on your journey.
Trade Arabia
24-04-2025
- Business
- Trade Arabia
Middle East tech startups told to raise their game
Middle East tech startups have been urged to raise their game as competition heats up across the region, particularly in the UAE and Saudi Arabia, where an influx of international founders is redefining the landscape. With Dubai firmly positioned as a magnet for international tech talent and Abu Dhabi emerging as one of the region's fastest-growing startup hubs, posting a 28% increase in ecosystem value last year, founders are under growing pressure to prove their worth in an increasingly selective investment climate, says an expert. Saudi Arabia, meanwhile, continues its rapid rise as a startup powerhouse, backed by Vision 2030 and government initiatives that are attracting both local and overseas companies aiming to tap into the Kingdom's evolving digital economy. Rashit Makhat, Director and co-founder of Scalo Technologies, the UAE tech venture company, says this fast-changing environment means founders must not only demonstrate strong business models and scalable ideas, but also show resilience, adaptability, and deep market understanding. 'Entrepreneurs can no longer rely on a good idea alone,' says Makhat. 'They need a clear plan to scale their business. They must demonstrate a deep understanding of their market, and that their product or service can not only survive, but thrive, in a rapidly changing economic landscape. 'Today's investors are more cautious, prioritizing startups with proven track records, scalable business models, and clear paths to profitability. Entrepreneurs must focus on building a strong brand, creating a loyal customer base, and demonstrating their ability to adapt to market changes.' He points to the success of regional startups like eyewa, the Middle East's largest online eyewear retailer, as an example of the level of maturity and clarity investors now expect. The company raised $100 million in Series C funding towards the end of last year to expand R&D, talent acquisition, and retail presence. 'This highlights how selective investors are becoming' said Makhat. 'Only startups with a clear value proposition, a solid business model, and a strong potential for growth, can attract significant funding.' To help startups succeed and stay ahead, he recommends five key principles: • Motivation: Having a strong reason for starting your company can help you stay motivated. • Intuition: While data and numbers are important, sometimes you need to trust your gut. Your intuition can help you make good decisions, especially when things get tough. • Courage: The tech world is full of risks and uncertainties. You need to be brave and willing to take chances to succeed. • Foresight: It's important to think about the future and be prepared for what's to come. This means staying up-to-date on trends and technology. • Inspiration: Building a successful company can be inspiring, but it's also important to be inspired by others. Look for role models and mentors who can help you on your journey. - TradeArabia News Service
Mid East Info
23-04-2025
- Business
- Mid East Info
Middle East Tech Startups warned to raise their game as competition intensifies - Middle East Business News and Information
Tech investor Rashit Makhat says entrepreneurs can no longer rely on a good idea to succeed Dubai, UAE: Middle East tech startups have been warned to raise their game as global competition heats up across the region, particularly in the UAE and Saudi Arabia, where an influx of international founders is redefining the landscape. With Dubai firmly positioned as a magnet for international tech talent and Abu Dhabi emerging as one of the region's fastest-growing startup hubs, posting a 28% increase in ecosystem value last year, founders are under growing pressure to prove their worth in an increasingly selective investment climate. Saudi Arabia, meanwhile, continues its rapid rise as a startup powerhouse, backed by Vision 2030 and government initiatives that are attracting both local and overseas companies aiming to tap into the Kingdom's evolving digital economy. Rashit Makhat, Director and co-founder of Scalo Technologies, the UAE tech venture company, says this fast-changing environment means founders must not only demonstrate strong business models and scalable ideas, but also show resilience, adaptability, and deep market understanding. 'Entrepreneurs can no longer rely on a good idea alone,' says Makhat. 'They need a clear plan to scale their business. They must demonstrate a deep understanding of their market, and that their product or service can not only survive, but thrive, in a rapidly changing economic landscape. 'Today's investors are more cautious, prioritizing startups with proven track records, scalable business models, and clear paths to profitability. Entrepreneurs must focus on building a strong brand, creating a loyal customer base, and demonstrating their ability to adapt to market changes.' He points to the success of regional startups like eyewa, the Middle East's largest online eyewear retailer, as an example of the level of maturity and clarity investors now expect. The company raised $100 million in Series C funding towards the end of last year to expand R&D, talent acquisition, and retail presence. 'This highlights how selective investors are becoming' said Makhat. 'Only startups with a clear value proposition, a solid business model, and a strong potential for growth, can attract significant funding.' To help startups succeed and stay ahead, he recommends five key principles: Motivation: Having a strong reason for starting your company can help you stay motivated. Having a strong reason for starting your company can help you stay motivated. Intuition: While data and numbers are important, sometimes you need to trust your gut. Your intuition can help you make good decisions, especially when things get tough. While data and numbers are important, sometimes you need to trust your gut. Your intuition can help you make good decisions, especially when things get tough. Courage: The tech world is full of risks and uncertainties. You need to be brave and willing to take chances to succeed. The tech world is full of risks and uncertainties. You need to be brave and willing to take chances to succeed. Foresight: It's important to think about the future and be prepared for what's to come. This means staying up-to-date on trends and technology. It's important to think about the future and be prepared for what's to come. This means staying up-to-date on trends and technology. Inspiration: Building a successful company can be inspiring, but it's also important to be inspired by others. Look for role models and mentors who can help you on your journey.
