Human capital is key to creating knowledge economy

Human capital is key to creating knowledge economy Staff Report/dubai Filed on November 6, 2016 The most critical element for shifting away from hydrocarbons towards a knowledge economy is to build up the human and intelligence capital of a country. If the UAE can continue to provide a stable and open society, it will be able to leverage itself as a gateway connecting the traditional centres of power in the West with the rising East, said Dr Kai L. Chan, economist and distinguished fellow at Insead, advisor to Prime Minister's Office of the UAE/Minister of State Office. Dr Chan spoke to Khaleej Times on the sidelines of the 10th CFO Strategies Forum Mena. "We are moving in a data age which will empower people and generate employment in a very complex world where intelligence capital is very critical." Financial experts, economists and business leaders from around the Mena gathered in Dubai on the first day of the CFO Strategies Forum, organised by business facilitation company Naseba. "The market has undergone rapid changes over the past 12 months. This year, we found that agility, identifying key growth drivers and managing human capital in times of distress were common challenges facing CFOs in the…

Khaleej Times interview on CFO Summit (2016)

The below is my interview with Khaleej Times [video width="640" height="368" mp4="http://www.kailchan.ca/wp-content/uploads/2020/03/KT-Business-Interview_2016.mp4"][/video] ©2020 Galadari Printing and Publishing LLC. All rights reserved

Radio interview with Dubai Eye (FM 103.8) – “Influence & Knowledge”

Economist Kai Chan from INSEAD has been researching which is the world's most powerful language - and its smartest country. The results might not be what you think. Brandy Scott and Malcolm Taylor ask the questions on the Business Breakfast. (Click on picture below for video of the taping.) Copyright © 2016, Arabian Radio Network. All rights reserved.  

UAE EN: Decoding international benchmarking reports

I spoke at the UAE Economics Network at the Canadian embassy in Abu Dhabi on 29 Sep 2016. The title of my presentation was "Decoding global performance indices: The role and merit of 'competitivness' reports in guiding policy in the UAE". The presentation can be found here.

K16: The Emirates’ competitiveness strategy

I spoke at the Kazakhstan Growth Forum 2016 (K16) on the UAE's competitiveness strategy on 21 Sep 2016. The presentation can be found here.

English is the modern lingua franca

English is the modern lingua franca Jessica Hill September 7, 2016 Updated: September 7, 2016 02:36 PM [caption id="attachment_2944" align="aligncenter" width="640"] Dr Kai Chan, a distinguished fellow of Insead, used 20 indicators to measure the five basic opportunities afforded by language. Antoine Robertson / The National[/caption] Imagine an alien landed on Earth wanting to interact with humans. Which language would afford them the best opportunities for interaction and success? That’s the question Kai Chan asked himself when, as an associate fellow of Insead, he wrote his research paper "The Power Language Index". Aiming to pinpoint the world’s most influential and powerful languages, Mr Chan used 20 indicators to measure five basic opportunities afforded by language – geo­graphy, economy, communication, knowledge and media, and diplomacy. It might come as no surprise that English ranked in the top spot, with a score of 0.889 – more than double that of the No 2 ranking, the rising star Mandarin. "This index is a snapshot in time and 16 years ago, Mandarin wouldn’t be anywhere close to where it is now," says Mr Chan. "Going forwards, its numbers will surely increase." Mr Chan, 41, was born to a Chinese peasant family on the streets…

Top three data challenges for the Middle East

Top three data challenges for the Middle East 30 AUGUST, 2016 BY JENNIFER AGUINALDO MEED talks to Kai Chan, economist and distinguished fellow at French business school Insead, on what the Middle East has to address to gain the maximum benefit from Big Data. Big Data requires highly numerate people to work with the data Data must be robust, reliable and correct People, businesses, and governments need to be more curious to use the power of Big Data MEED talks to Kai Chan, economist and distinguished fellow at French business school Insead, on what the Middle East has to address to gain the maximum benefit from Big Data MEED: What are the top three challenges that the Middle East has to address if they were to gain the maximum benefit from Big Data?Kai Chan: One, bringing up the human capital skills that can work with Big Data. Big Data is complex; it requires highly numerate people to work with the data and, more importantly, to understand the data and the insights that will come from asking the right research questions and applying the right theories and mathematical or statistical tests to generate fresh insights that can be used to make…

BCG (Montreal): The UAE’s competitiveness strategy: The use of international benchmarks to guide policy

TITLE The UAE's competitiveness strategy: The use of international benchmarks to guide policy. ABSTRACT  In less than two generations, the UAE transformed itself from an unknown, sparsely-populated desert nation into a globally competitive country that is home to the Arab world's first global city (Dubai). The nation is now a tourism hot spot that is home to several global brands, including Emirates Airlines. The nation is also favourably known for its foresight in developing a large SWF that has been used to spur research and innovation in the country (e.g. Mubadala). The UAE was, on paper, one of the least likely place in the Arab world to become its leading nation. Although hydrocarbon wealth initially catapulted the nation, today it accounts for less than a quarter of its GDP, and just 2 percent of output in Dubai. Underpinning the Emirate's meterioric rise is strategic policy planning by the government through the use of third-party international benchmarks to incentivise both public and private sector stakeholders. Competitiveness KPIs have enabled a high degree of transparency within the UAE, a quality missing from much of the region. Most notably, the nation's strategic development goals (Vision 2021) target outcomes in international competitiveness reports. BIO…

Concordia: Dubai’s competitiveness through international benchmarks

Dubai's competitiveness through international benchmarks (10 Aug 2016) In less than 2 generations, Dubai transformed itself from an unknown, sparsely-populated desert outpost into a global city and tourism hot spot that is home to several global brands, including Emirates Airlines. Dubai was, on paper, the least likely place in the Arab world to become its premier city. Most remarkable about its ascension is that hydrocarbons have played only a secondary role in its development. Today, oil accounts for just 2 percent of its GDP. Underpinning the emirate's meteoric rise is strategic policy planning by the government through the use of third-party international benchmarks to incentivise both public and private sector stakeholders. Competitiveness KPIs have enabled a level of transparency within Dubai, a quality missing from much of the region. What future lies ahead for the emirate as an era of low oil prices depresses the MENA region and as it aspires to transform into a knowledge economy?

Global Finance Magazine July 2016: “Gulf nations must develop soft infrastructure”

Gulf Nations Must Develop Soft Infrastructure Sparkling office towers won’t draw business without the right policies. JULY 22, 2016 Author: MARK TOWNSEND Governments of the six-member Gulf Cooperation Council (GCC) are reacting to the collapse in oil prices in varying degrees, but none can return to the status quo ante of handouts and expensive state-backed subsidies. For years the GCC has lavished billions of dollars on projects, many of which turned out to be white elephants. Perhaps the most vivid example is the 59 mostly empty towers of King Abdullah Financial District in the Saudi Arabian capital, Riyadh. Reportedly costing $7.8 billion, with floor space of more than 3 million square meters, the project is bereft of the investment bankers it sought to attract. For many, the project symbolizes the latent disconnect between the Gulf’s tendency to spend billions on grandiose infrastructure yet overlook the equally important “soft” infrastructure of regulation, governance and human capital. There are, however, exceptions. The Dubai International Financial Centre, which Riyadh was trying to emulate, has managed to set itself apart from other regional competitors and is noted for the quality of its regulation and transparency embedded in a tax-free zone. Although GCC countries have begun…