Issue 115: The Key to Great Governance
Welcome to Backstory, a weekly newsletter turning global technology shifts into a three-minute read. This week, we’re thinking about governance. – Mary Ames, Director of Strategy
THE BIG TAKE
The Key to Great Governance
There is one thing that innovation countries have in common. That’s nimble legislative environments that can change or adapt laws designed to spur innovation. From small countries like Estonia to the UAE, technology-forward countries eager to boost innovation regularly update their legal systems to ensure that government is helping rather than hindering growth. The past year has been an example of this principle in the UAE.
A host of new laws. Myriad new laws will be introduced in the UAE this year. They are designed to modernize the legal system and attract new businesses while strengthening tourism. From updates to family laws to new safety nets for workers, the new laws represent some of the most significant legal changes in the country’s history. They couldn’t have come at a better time, as the Gulf region is experiencing a boom of economic interest spurred by the continued opening of Saudi Arabia’s economy and the sustained spike in oil prices.
Growing business. Small states and how they function is a topic of ongoing fascination for Backstory. While global superpowers like the US and China continue to dominate the world economy, we feel that the most exciting developments are happening on the periphery. Again, the UAE is a beautiful example of this idea in action. In a remarkably short period, the UAE has become one of the beacons of the developing world. It is a hive of innovation for the new breed of technology characterizing our rapidly changing global economy. The country demonstrates how society can innovate on the world stage by updating key legislation and legal frameworks. The future is unfolding before our eyes.
QUOTE OF THE WEEK
“All sorts of things can happen when you’re open to new ideas and playing around with things.”
– Stephanie Kwolek, Chemist
CHART OF THE WEEK
We are looking at the Gulf economic climate in this week’s chart of the week. Companies are flocking to the Middle East to raise capital, just as they did in 2008. Saudi Arabia is one of the clear winners in this new rush to the region.
OUR VIEWS THIS WEEK
The future of digital culture: Writing in The National, Xische’s director of strategy, Mary Ames, addressed the question of digital culture. We’ve all experienced the power of technology, from Zoom calls to the ability to stream millions of hours of content during a crisis. We’ve also read about the myriad privacy issues surrounding platforms like Zoom. The challenge is striking the right balance between innovative technology and data privacy; the perfect time is now.
Taking flight: It’s safe to say that the world is finally back to normal. This means that more of us are jumping on airplanes than ever. To say that the airline industry had a rough year would be an understatement, but now that people are flying again, we decided to take stock of the sector and chart where the next innovations will take shape. Here’s a hint: we are about to see supersonic airplanes running on clean biofuel. Exciting times are ahead!
SPOTTED ELSEWHERE
New year, new tech trends. As we kick off 2023, it’s time to consider the tech trends that will define the new year. The Washington Post put together one of the best lists of what to look for. Among their top picks are more metaverse integration, the breakdown of “walled gardens,” streaming services shake-ups, and more improvements to AI platforms. Oh, and this year might really be the year of the robot. It’s going to be a wild one!
Time is an illusion. Ever thought that time was a construct? Well, you aren’t alone, and you might not be wrong. In this fascinating piece from NPR, researchers discuss the latest developments in our understanding of time. Time itself might be an illusion that can be stretched at the far reaches of the universe. Pretty far out.
QUICK HITS
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