Happy Thursday and International Workers’ Day everyone!

DAMAC’s Ali Sajwani urges caution on AI adoption, warning businesses not to rush into firing skilled teams before the tech proves scalable. Meanwhile, PwC is shaking up its Middle East leadership after Saudi Arabia’s Public Investment Fund imposed a one-year advisory ban linked to a Neom-related hiring attempt. Plus, gold prices soar and Careem adds 24-carat coin delivery in Dubai just in time for Akshaya Tritiya.

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Damac’s Ali Sajwani Cautions Against Rushing AI Replacements: “Don’t Fire Your Teams Just Yet”

📰 What is it about?

• Ali Sajwani, Managing Director of Operations, Finance, and Hospitality at DAMAC Properties, has raised concerns about the rapid pace of AI adoption and its impact on skilled labor.

• In a recent statement, he highlighted that professions like engineering and law — with decades of experience behind them — could soon face redundancy due to technological advances.

• Sajwani acknowledged that AI tools are already delivering faster and more insightful outputs than traditional methods in many fields.

💡 Why it matters?

• As companies race to integrate AI for efficiency and cost-cutting, experienced professionals across industries face growing uncertainty.

• High-paying roles, such as lawyers earning AED 100,000 per month, could be threatened by AI models that provide comparable or better results in a fraction of the time.

• Sajwani warned that businesses may be tempted to downsize teams prematurely after seeing AI’s early results — a decision he says could backfire.

• His remarks underscore a critical tension between innovation and employment, especially in sectors that rely heavily on human expertise.

🔜 What’s next?

• Sajwani advised business leaders to run AI systems alongside existing human teams before making workforce reductions.

• Companies should only consider shifting staffing structures once AI proves scalable, reliable, and capable of delivering clear ROI.

• The remarks come amid a broader regional and global debate on responsible AI adoption and the future of work.

ODEUM – A Cutting-Edge Content Studio for All Your Production and Social Media Management Needs

📰 What is it about?

• Odeum, the content studio built for modern media consumption, partnering with brands to deliver tailored content services while also creating original productions under the Augustus Media network.

💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video: Distribution, post-production, production, live streaming, series and show creation, animation, branded content, AI-powered video creation, CGI video creation.

• Social Media: Account takeovers, strategic posts, tactical competitions.

• Copywriting: Branded content hubs, sponsored articles.

• Events: Media partnerships, co-branding, guest list curation, ticket commerce.

• Audio: Podcast production, hosting, voiceovers, audio ads.

• Online Advertising: Programmatic, display, paid social, affiliate marketing.

🔜 What’s next?

• Have a project in mind? Let's make it happen!

• Book a studio or discuss your next big idea with us today.

Follow ODEUM on LinkedIn, Instagram and X.

Markets

Careem Now Delivers 24-Carat Gold to Dubai Homes in Under an Hour

📰 What is it about?

• Dubai-based super app Careem has added a glittering new service: home delivery of 24-carat gold coins, with orders arriving in less than an hour.

• The feature allows users to purchase up to AED 10,000 (approx. $2,723) worth of physical gold per order.

• The gold is supplied and certified by Tanishq, the flagship brand of India’s largest jeweler, Titan Company.

• The campaign coincides with Akshaya Tritiya, a Hindu festival associated with prosperity and gold purchases.

💡 Why it matters?

• Indians represent roughly one-third of the UAE’s population, and gold buying is deeply rooted in cultural traditions — especially during religious festivals like Akshaya Tritiya.

• The offering positions Careem to tap into the spending power of the UAE’s 3.5+ million Indian expats, just as gold prices surge to historic highs.

• Gold has rallied 25% year-to-date, driven by central bank demand, investor flight to safety, and growing concerns over global markets — reaching a record $3,500 per ounce last week.

• Careem, backed by Emirates Telecommunications Group, Uber, and its co-founders, is steadily evolving into a dominant “everything app” for daily services in the region.

🔜 What’s next?

• While Careem did not comment on the expansion, this move signals further diversification of its platform beyond ride-hailing and food delivery.

• With gold delivery now part of its portfolio, Careem may look to deepen its presence in fintech and luxury consumer services.

• If successful, this offering could trigger copycat services from competitors or even a broader trend of super apps entering the precious metals market in the Gulf.

PwC Reshuffles Middle East Leadership After Saudi Arabia Imposes Advisory Ban

What is happening?

• PwC is overhauling its senior leadership in the Middle East following a one-year advisory ban imposed by Saudi Arabia’s powerful Public Investment Fund (PIF).

• Key exits include Mohamed ElBorno (Head of Assurance) and Emma Campbell (Head of Partner Affairs), who have stepped down as part of the firm's internal response.

• The ban was triggered by PwC’s attempt to recruit Jason Davies, a high-ranking executive from Neom — the $500 billion mega-project overseen by the PIF.

• While the advisory ban remains in place until February 2026, it does not affect PwC’s auditing services in the Kingdom.

Why it matters:

• Saudi Arabia is a crucial market for PwC, employing more than 2,000 staff across key cities, and contributing to the firm’s $2.5 billion Middle East revenue in FY24.

• The move signals a growing assertiveness by Saudi authorities in policing foreign consultancy behavior and safeguarding strategic talent.

• It reflects a broader push under Vision 2030 to reduce reliance on foreign advisors and build stronger local expertise in key sectors.

• The high-profile nature of the Neom project makes the situation even more sensitive, placing pressure on firms working with or around the PIF.

What’s next?

• PwC is expected to continue internal restructuring to realign its operations with Saudi Arabia’s expectations and rebuild trust with key government stakeholders.

• The firm will maintain its auditing business in the Kingdom while being barred from new advisory and consulting contracts until early 2026.

• The incident could set a precedent for how Saudi Arabia handles similar conflicts with other global consulting firms, potentially reshaping the regional advisory landscape.

🔍From Smashi Business’ Desk

• Sudan’s beloved Baraka Biscuits are now also being made in Egypt.

• “Q1 2025 was a real test of operational readiness — and our teams delivered,” said Majed Al Joker, COO, Dubai Airports.

• Dubai Founder says daughter earned AED 500 from her gig and got a masterclass in entrepreneurship.

🔍In other news…

• Wynn Al Marjan to create over 7,500 jobs as large-scale recruitments begin from next year.

• Underground train planned for Dubai’s future $35 billion Al Maktoum International Airport.

• Deal signed to develop Trump-branded golf club, villas in Qatar.

• Trump Firm Sells Dubai Penthouses for $20 Million in Gulf Push.

• Jeddah Season Takes Part in Arabian Travel Market 2025 in Dubai.

• Warner Bros. Discovery will hold initial team meetings with recent affiliate OSN Streaming from Dubai to determine the type of original content it will invest in.

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