Latest news with #publicinstitutions
Gulf Business
2 days ago
- Business
- Gulf Business
From potential to policy: How AI can reshape public finance
Image: WAM/ For illustrative purposes Governments worldwide face mounting fiscal pressure: rising debt, volatile revenues, and growing public expectations. Amid this complexity, they are expected to act faster, spend smarter, and enhance trust in public institutions. Artificial intelligence (AI) presents a once-in-a-generation opportunity to redefine how public resources are planned, allocated, and accounted for. Yet its potential in public finance remains largely untapped. Governments are beginning to integrate AI into fiscal operations – from optimising budgets and improving forecasts to automating audits and fraud detection. These early efforts hint at a bigger prize: the strategic use of AI to redesign the fiscal policy cycle itself. The question is no longer whether AI can help, but how fast and how well governments can scale its use responsibly. AI's role in modern public finance AI is transforming how governments manage public finances. It enhances decision-making in fiscal policy and resource allocation, strengthens risk management, streamlines operations, and improves citizen-facing services. By moving beyond simple automation, AI enables real-time data analysis, dynamic resource targeting, and proactive risk identification. These capabilities are already being applied across public finance to support: Macroeconomic and fiscal forecasting: AI is transforming traditional econometric methods by using machine learning (ML) and deep learning (DL) to process vast, unstructured datasets. This improves forecasting accuracy and enables real-time 'nowcasting'. For instance, the Australian Taxation Office uses ML models to forecast tax revenues, while South Korea's Ministry of Economy and Finance produces daily updates on the national treasury balance using AI. In the UAE, the Ministry of Finance is enhancing revenue forecasting and compliance through AI, while initiatives like Smart Dubai embed intelligent tools in services such as digital payments and smart procurement. Budget planning and expenditure monitoring: AI modernises budgeting processes by automating data handling and applying advanced analytics. ML enhances the accuracy of expenditure baselines, supports policy cost estimation, and enables evidence-based fiscal decision-making. For example, the Australian Department of Veterans' Affairs uses predictive models to simulate lifetime fiscal impacts of beneficiaries and assess policy options, while France's DGFiP applies ML to identify municipalities at financial risk, evolving from historical data analysis to predictive forecasting. Public spending reviews: AI is strengthening spending review processes by analyzing large and complex datasets to identify trends, evaluate programme effectiveness, and inform resource reallocation. ML and DL extend beyond traditional analytics to uncover deeper insights and automate recommendations. For instance, the UK Treasury employs HMT-GPT to assess budget proposals and support long-term funding reviews, while Canada's Department of Finance uses AI to evaluate the impact of public spending and guide reallocation decisions. Accounting, control, and fraud detection: AI-driven automation and anomaly detection are making internal financial controls more efficient. Tools using NLP, ML, and DL, can rapidly process documents, identify irregularities, and strengthen oversight. Denmark employs AI to monitor subsidy disbursements and flag anomalies, and the UK applies ML to detect fraudulent benefit claims with improved speed and accuracy. Citizen engagement and service delivery: AI is redefining how public finance institutions interact with citizens. Chatbots and language models enhance accessibility, automate responses, and improve transparency. The U.S. Internal Revenue Service uses AI-powered voice and chatbots to reduce inquiry wait times, while Ireland's Department of Finance uses AI to draft tax manuals and summarize legal documents, making government communication more accessible. These examples underscore AI's growing role across the fiscal value chain, but also reveal a gap: AI is informing decisions, not making them. Why prescriptive AI remains elusive Prescriptive AI – the ability to recommend or make decisions – remains rare in public finance. The reasons are complex: lack of explainability, unclear accountability, and unresolved ethical concerns. Should an AI system decide how public funds are distributed or which programs face cuts? What if its recommendations reflect bias or flawed assumptions? Who is accountable when things go wrong? These are not just technical questions – they are governance questions. Addressing them is key to unlocking AI's next frontier in fiscal policymaking. What's holding AI back? Despite its promise, AI adoption in public finance faces five persistent barriers: Lack of strategic alignment with institutional priorities: Many institutions lack a top-down, structured approach to identifying AI use cases that directly support national priorities or institutional mandates. This leads to fragmented, opportunistic, or siloed implementations and limits the ability to demonstrate strategic value, especially when impact tracking is focused solely on cost or operational efficiency. Outdated infrastructure and fragmented data ecosystems: Legacy IT systems and non-integrated data sources hinder effective AI model development. High-quality, interoperable data is essential but often inaccessible or trapped in bureaucratic systems resistant to integration. These challenges are particularly acute in regions where coordination across agencies remains limited. In the GCC, efforts to unify public finance platforms – often led by sovereign wealth funds or centralised finance ministries – highlight the growing need for shared standards and interoperable systems. Capacity and culture gaps: AI deployment requires more than technical expertise. It demands a culture that embraces innovation and adaptive decision-making. Many institutions lack digital capabilities, face internal resistance to change, or operate within risk-averse environments where experimentation is discouraged. Regional actors such as the Arab Monetary Fund have highlighted the need for stronger institutional coordination and innovation ecosystems to advance digital finance transformation across the Arab region. Ethics, security, and transparency concerns: As AI begins to shape sensitive fiscal decisions, such as allocating benefits or reallocating funds, issues of fairness, legality, and accountability become critical. Without clear rules, AI can produce biased outcomes or breach financial regulations. Weak cybersecurity may expose sensitive fiscal data, threatening national security and eroding trust. Public finance professionals and citizens must understand how AI insights are generated and used. Opaque algorithms or poorly communicated logic risk undermining both legitimacy and public confidence. Absence of robust evaluation and ROI frameworks: AI returns are harder to measure and often intangible in the short term. This makes it challenging to prioritise and scale promising pilots. Without clear methodologies to assess impact – including efficiency gains, accuracy improvements, and equity outcomes – AI programmes struggle to secure sustained funding and political backing. A strategic path forward To move from pilots to purpose-driven AI adoption, governments should focus on five priorities: Anchor AI in core fiscal strategy: Define AI priorities top-down, aligned with institutional and national fiscal and development goals. Focus on areas where AI advances mandates such as revenue mobilisation, spending efficiency, or compliance. Invest in infrastructure and people: Build modern cloud infrastructure, hire skilled data engineers, and provide ongoing training to unlock AI's full value beyond isolated pilots. Strengthen data governance: Establish strong data governance frameworks to improve data accessibility, quality, and interoperability, while safeguarding privacy and promoting ethical use. Measure what matters: Track cost-benefit metrics alongside accuracy, compliance, equity, and public confidence to capture AI's true impact on fiscal management. Embed safeguards: Require model transparency, independent audits, and clear accountability frameworks before AI tools influence high-stakes fiscal decisions. Read: The time to act is now AI is not just a technological upgrade – it is a fundamental shift in managing public finance. Governments that embed it strategically will unlock unprecedented agility, precision, and transparency. Moving beyond advisory roles, prescriptive models can drive smarter, faster, and more accountable policy decisions. But this power demands caution: without rigorous transparency, fairness, and accountability safeguards, such systems risk bias and unintended consequences that could undermine trust. Done responsibly, AI can help governments anticipate shocks, improve policy outcomes, and enhance public confidence. For MENA countries, where fiscal reform and economic diversification are top priorities, the stakes are even higher. With the right investments, governance, and institutional commitment, the region can not only catch up, but lead in shaping the future of public finance. Naman Sharma and Pedro Marques are partners, and Rayane Dandache is a manager at
Forbes
01-08-2025
- Business
- Forbes
Why Unmanaged Network Resources Are A Hacker's Dream
Vincentas Grinius is a tech entrepreneur and cofounder of IPXO, with a focus on internet infrastructure and sustainable digital innovation. Cybersecurity discussions in today's increasingly connected world often emphasize software vulnerabilities, phishing schemes and ransomware threats. However, a more subtle—and equally dangerous—threat lurks beneath the surface: unmanaged digital infrastructure assets that many enterprises, universities and public institutions unknowingly leave exposed. One of the most overlooked assets is IPv4 address blocks—legacy allocations that, if left unmonitored and unnoticed by management systems, provide a hidden playground for cybercriminals to launch attacks, hide their activities and erode trust in internet systems. According to Cybersecurity Ventures, ransomware damages are expected to cost the global economy $275 billion annually by 2031. Organizations must face a new reality: They jeopardize security and value if they aren't actively managing their network resources. The Hidden Risk Of Idle Infrastructure: How Cybercriminals Exploit What We Ignore The IPv4 address space, which was initially distributed freely during the early days of the internet, has become increasingly scarce and valuable. However, many institutions retain large blocks of addresses without active oversight, making them susceptible to hijacking and abuse. IP hijacking occurs when a threat actor illegitimately takes control of an IP address block, often by announcing false routes to internet routers and redirecting traffic meant for the rightful owner. Because these IPs seem valid on the public internet, attackers can use them to send spam, host phishing sites or create botnets—all while staying under the radar. In many instances, the legitimate owner is unaware that their addresses are being exploited. Cybercriminals often scan inactive IP ranges, using them for various malicious activities. Spam distribution remains one of the most common threats: A 2023 report by Statista indicates that spam emails constituted approximately 45.6% of global email traffic. The U.S. and China have emerged as the primary sources of spam emails, sending close to 8 billion spam emails each day per country. Hijacked IP addresses frequently create new, seemingly clean environments to send these messages before detection systems can respond. Phishing campaigns continue to grow, too. The Cybercrime Info Center reported over 1.8 million unique phishing attacks between May 2022 and April 2023, many of which rely on hijacked or misused network blocks to avoid early detection. Botnet hosting also thrives on unmanaged infrastructure. According to Spamhaus, botnet command-and-control servers increased by 16% in Q4 2023, illustrating how cybercriminals exploit abandoned address space to carry out malware and ransomware campaigns. The command-and-control infrastructure for ransomware is especially concerning. The FBI reported a 9% rise in ransomware attacks on U.S. critical infrastructure in 2024, frequently facilitated by compromised or hijacked networks that lack active oversight. Even cryptocurrency fraud is driven by hijacked resources. The FBI's 2023 Internet Crime Report revealed that cryptocurrency-related fraud caused losses exceeding $5.6 billion, a 45% increase from the previous year, as criminals exploited compromised infrastructure to host phishing websites and steal assets. These realities underscore a hard truth: Unmanaged infrastructure isn't just wasted; cybercriminals actively weaponize it. Leasing As A Security Strategy The traditional view of leasing IP addresses focuses on monetization. However, leasing can also act as a strong security mechanism. When an IP block is actively leased through a trusted, structured platform, it's: • Continuously monitored for abuse patterns and dips in reputation. • Protected by know-your-customer (KYC), anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) processes that screen lessees before allocation. • Secured with automated blacklisting detection and rapid incident response protocols. • Actively validated in routing systems, making unauthorized hijacking attempts considerably more difficult. Instead of remaining idle and exposed, the resource becomes a managed and monitored part of the global internet fabric. A New Model For Digital Asset Stewardship Every organization with internet-facing infrastructure must reconsider its stewardship model. It's no longer sufficient to secure servers and patch software—proactive management of network resources has become integral to the cybersecurity mandate. Practical steps forward: • Audit your IPv4 and network assets. Understand exactly what you own, where it's located and if it's in use. • Secure dormant resources. Consider collaborating with reputable leasing platforms that emphasize security, compliance and abuse prevention. • Align IT, finance and cybersecurity teams. Ensure that digital asset management is collaborative, not isolated. • Monitor continuously. Establish real-time visibility over leased or unused space to quickly identify anomalies. Inaction is no longer harmless; it's a liability. Stewardship Or Exposure—The Choice Is Clear The digital economy rewards those who actively manage and optimize their resources. Just as businesses protect financial assets and intellectual property, they must also secure and enhance their network resources. The days of neglecting idle IP address blocks without repercussions are over. Cybercriminals are aware of this. Forward-thinking institutions recognize it. Now, the broader enterprise and public sectors must catch up—or risk facing the consequences. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Zawya
30-07-2025
- Business
- Zawya
Kuwait government launches full review of public projects and contracts
KUWAIT CITY - In a move to enhance transparency, efficiency, and oversight, the Kuwaiti government has initiated a comprehensive inventory of all ongoing and planned projects and contracts across ministries and public institutions. The initiative aims to closely monitor implementation mechanisms and evaluate the progress of infrastructure and service-related developments. According to informed sources, all government ministries and relevant entities have been instructed to promptly prepare detailed lists of active construction projects — ranging from administrative buildings to public service facilities — as well as their associated contracts. Ministries are also required to submit the latest monthly progress reports for these projects. The directive, described as a key regulatory and oversight measure, includes the preparation of a full register of existing maintenance contracts across all ministries and institutions. Sources noted that this initiative is designed to establish a centralized, accurate database that will support informed decision-making, help assess execution quality, and detect any implementation shortcomings or project delays. In addition to active projects, the government has also asked for comprehensive documentation of upcoming construction projects that ministries and government bodies intend to carry out. These should include proposed timelines and implementation frameworks. Officials stated that the broader goal is to promote inter-agency coordination in order to eliminate duplication, prevent overlapping responsibilities, and ensure effective planning and resource allocation. The review marks a significant step toward bolstering accountability and strategic planning across Kuwait's public sector infrastructure and service initiatives.
Yahoo
30-06-2025
- Business
- Yahoo
Why the traditional college major may be holding students back in a rapidly changing job market
Colleges and universities are struggling to stay afloat. The reasons are numerous: declining numbers of college-age students in much of the country, rising tuition at public institutions as state funding shrinks, and a growing skepticism about the value of a college degree. Pressure is mounting to cut costs by reducing the time it takes to earn a degree from four years to three. Students, parents and legislators increasingly prioritize return on investment and degrees that are more likely to lead to gainful employment. This has boosted enrollment in professional programs while reducing interest in traditional liberal arts and humanities majors, creating a supply-demand imbalance. The result has been increasing financial pressure and an unprecedented number of closures and mergers, to date mostly among smaller liberal arts colleges. To survive, institutions are scrambling to align curriculum with market demand. And they're defaulting to the traditional college major to do so. The college major, developed and delivered by disciplinary experts within siloed departments, continues to be the primary benchmark for academic quality and institutional performance. This structure likely works well for professional majors governed by accreditation or licensure, or more tightly aligned with employment. But in today's evolving landscape, reliance on the discipline-specific major may not always serve students or institutions well. As a professor emeritus and former college administrator and dean, I argue that the college major may no longer be able to keep up with the combinations of skills that cross multiple academic disciplines and career readiness skills demanded by employers, or the flexibility students need to best position themselves for the workplace. I see students arrive on campus each year with different interests, passions and talents – eager to stitch them into meaningful lives and careers. A more flexible curriculum is linked to student success, and students now consult AI tools such as ChatGPT to figure out course combinations that best position them for their future. They want flexibility, choice and time to redirect their studies if needed. And yet, the moment students arrive on campus – even before they apply – they're asked to declare a major from a list of predetermined and prescribed choices. The major, coupled with general education and other college requirements, creates an academic track that is anything but flexible. Not surprisingly, around 80% of college students switch their majors at least once, suggesting that more flexible degree requirements would allow students to explore and combine diverse areas of interest. And the number of careers, let alone jobs, that college graduates are expected to have will only increase as technological change becomes more disruptive. As institutions face mounting pressures to attract students and balance budgets, and the college major remains the principal metric for doing so, the curriculum may be less flexible now than ever. In response to market pressures, colleges are adding new high-demand majors at a record pace. Between 2002 and 2022, the number of degree programs nationwide increased by nearly 23,000, or 40%, while enrollment grew only 8%. Some of these majors, such as cybersecurity, fashion business or entertainment design, arguably connect disciplines rather than stand out as distinct. Thus, these new majors siphon enrollment from lower-demand programs within the institution and compete with similar new majors at competitor schools. At the same time, traditional arts and humanities majors are adding professional courses to attract students and improve employability. Yet, this adds credit hours to the degree while often duplicating content already available in other departments. Importantly, while new programs are added, few are removed. The challenge lies in faculty tenure and governance, along with a traditional understanding that faculty set the curriculum as disciplinary experts. This makes it difficult to close or revise low-demand majors and shift resources to growth areas. The result is a proliferation of under-enrolled programs, canceled courses and stretched resources – leading to reduced program quality and declining faculty morale. Ironically, under the pressure of declining demand, there can be perverse incentives to grow credit hours required in a major or in general education requirements as a way of garnering more resources or adding courses aligned with faculty interests. All of which continues to expand the curriculum and stress available resources. Universities are also wrestling with the idea of liberal education and how to package the general education requirement. Although liberal education is increasingly under fire, employers and students still value it. Students' career readiness skills – their ability to think critically and creatively, to collaborate effectively and to communicate well – remain strong predictors of future success in the workplace and in life. Assuming the requirement for students to complete a major in order to earn a degree, colleges can also allow students to bundle smaller modules – such as variable-credit minors, certificates or course sequences – into a customizable, modular major. This lets students, guided by advisers, assemble a degree that fits their interests and goals while drawing from multiple disciplines. A few project-based courses can tie everything together and provide context. Such a model wouldn't undermine existing majors where demand is strong. For others, where demand for the major is declining, a flexible structure would strengthen enrollment, preserve faculty expertise rather than eliminate it, attract a growing number of nontraditional students who bring to campus previously earned credentials, and address the financial bottom line by rightsizing curriculum in alignment with student demand. One critique of such a flexible major is that it lacks depth of study, but it is precisely the combination of curricular content that gives it depth. Another criticism is that it can't be effectively marketed to an employer. But a customized major can be clearly named and explained to employers to highlight students' unique skill sets. Further, as students increasingly try to fit cocurricular experiences – such as study abroad, internships, undergraduate research or organizational leadership – into their course of study, these can also be approved as modules in a flexible curriculum. It's worth noting that while several schools offer interdisciplinary studies majors, these are often overprescribed or don't grant students access to in-demand courses. For a flexible-degree model to succeed, course sections would need to be available and added or deleted in response to student demand. Several schools also now offer microcredentials– skill-based courses or course modules that increasingly include courses in the liberal arts. But these typically need to be completed in addition to requirements of the major. We take the college major for granted. Yet it's worth noting that the major is a relatively recent invention. Before the 20th century, students followed a broad liberal arts curriculum designed to create well-rounded, globally minded citizens. The major emerged as a response to an evolving workforce that prioritized specialized knowledge. But times change – and so can the model. This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: John Weigand, Miami University Read more: Will the 'right' college major get you a job? Why do we need the humanities? Some want to get rid of college majors – here's how that could go wrong John Weigand does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Zawya
09-06-2025
- Business
- Zawya
Kuwait's new law sets deadline, penalties for unpaid service fees
Kuwait - In a move aimed at tightening fiscal discipline and ensuring the effective recovery of dues, the Kuwaiti government has issued Decree-Law No. 75 of 2025 concerning the collection of fees and financial costs for the use of public facilities and services. The law introduces a framework to govern the financial relationship between ministries, public institutions, and beneficiaries of state-provided services, reinforcing the principle that public utilities—ranging from electricity and water to telecommunications and transport—are not free but must be paid for under regulatory and administrative mandates. Core Provisions and Mechanisms Automatic Service Suspension and Installment Flexibility Under Article 1, if a debtor (whether an individual or a private legal entity) fails to pay dues within 30 days of notification, the concerned ministry or public body may temporarily suspend services. This suspension is lifted automatically through the government's digital systems once the outstanding amounts are paid. The law allows for installment-based repayments for those financially unable to settle the dues in one go, pending approval from the creditor. However, failure to adhere to the installment plan leads to its cancellation and the immediate initiation of debt recovery procedures. Mandatory Grievance Process Before Legal Action To prevent unnecessary litigation, Article 2 mandates that any individual disputing the suspension of services or the calculation of dues must first file a written grievance with the concerned authority. A response must be issued within 30 days. If no response is given, it is considered a rejection. Only after this process can a lawsuit be filed—within 30 days of either the rejection notice or the lapse of the response period, whichever comes first. Priority Lien on Debtor's Assets In a bold move to secure state revenues, Article 3 grants government creditors a statutory lien over all assets—movable and immovable—owned by the debtor. This gives the state legal priority in recovering its dues ahead of other creditors. Immediate Enforcement of Debt Recovery Article 4 elevates any official debt document or collection decision issued by a government entity to the status of an 'executive instrument.' This means the state can enforce collection directly without the need to go through lengthy court proceedings, following the procedures of Kuwait's Civil and Commercial Procedures Law. Ten-Year Statute of Limitations with Interruptions Article 5 introduces a 10-year statute of limitations for fee collection, starting from the due date or the end of the relevant fiscal year for annual fees. Crucially, this limitation can be interrupted by any official notice from the creditor that includes the outstanding amount and a request for payment, effectively restarting the clock on the limitation period. Judicial Fees Exempted Article 6 clearly states that the new law does not apply to judicial fees, which remain governed by Kuwait's Judicial Fees Law No. 17 of 1973. Rationale Behind the Legislation The explanatory note accompanying the law clarifies that the government's decision stems from widespread abuse of the existing system. Many beneficiaries of public services—including water, electricity, communications, and municipal services—have delayed or avoided payments, thereby burdening the state financially. This law is not meant to serve merely as a budgetary resource measure, but as a strategic tool for ensuring the efficient management of public utilities and discouraging negligence by debtors. It aims to restore the financial discipline required for a sustainable public service framework. Moreover, the government recognizes that some debts have accumulated to levels beyond immediate payment. By permitting structured payment plans, the law seeks to offer a balanced approach—enforcing payment obligations while recognizing genuine financial hardship. Implementation Timeline Article 7 mandates that ministers shall enforce the law within their jurisdictions, and it will come into effect three months from the date of its publication in the Official Gazette. Decree-Law No. 75 of 2025 marks a pivotal shift in Kuwait's approach to public service fee collection. By combining legal enforcement with digital automation, flexible repayment options, and judicial safeguards, the law positions the state to better protect public funds while promoting accountability among service users. It's a clear message that the era of unchecked fee evasion is coming to an end. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
