Mubadala’s CEO affirms from Davos that artificial intelligence will globally reshape business and employment beyond expectations.
Khaldoon Al Mubarak, CEO of Abu Dhabi’s sovereign wealth fund Mubadala, expressed his belief that the world has yet to grasp the scale of the radical transformation artificial intelligence will bring to all aspects of life. In an interview with CNBC on the sidelines of the World Economic Forum in Davos, Al Mubarak emphasized that smart technologies will redraw the global economy and alter traditional working methods and productive sectors in ways many did not expect.
Al Mubarak points out that the risks lie in the fading of routine jobs and the shift toward new skills that require a deep understanding of artificial intelligence and its connected technical infrastructure, such as data centers and the production of electronic chips necessary to run intelligent systems. Mubadala, which manages assets worth $330 billion, has established investment alliances focused on supporting artificial intelligence projects, including the investment fund MGX, which global investors have joined. Mubadala is also participating in OpenAI’s latest funding rounds, valued at $6.6 billion.
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According to Al Mubarak, Abu Dhabi aspires to be among the leading global centers for technological innovation, relying on plans to build massive data centers and develop the electronic chip industry. International companies such as Microsoft have expressed a desire to invest in Mubadala’s projects, paving the way to make the United Arab Emirates a hub for launching the new generation of cloud computing and artificial intelligence services.
Last year, Microsoft announced a $1.5 billion investment in the UAE-based company G42, aiming to expand cloud computing capabilities and provide broader opportunities for developing artificial intelligence technologies in the region. The agreement received special attention from US authorities due to its connection to supplying advanced chips used to operate massive data centers, raising security concerns among some lawmakers in Washington.
Although Al Mubarak expresses optimism regarding global demand for artificial intelligence technology, his remarks also hint at the risks of economic imbalance it might cause, especially as a large portion of business transitions to automated systems. However, he views this as an opportunity to benefit from investments in sectors supporting digital infrastructure, such as energy production, data transmission systems, and the creation of software tools capable of keeping pace with these shifts.
In the geopolitical context, Al Mubarak confirms that the UAE will continue investing in China, despite hints of a returning trade war or new tariffs under the Trump administration. He points out that the Chinese economy, as the second largest globally, still enjoys strong demand and a massive population base, alongside financial markets achieving notable growth rates, such as the Shanghai and Hong Kong stock exchanges. Nevertheless, Al Mubarak acknowledges the need for further reforms in the Chinese market, particularly to support middle-class consumption and boost investor confidence.
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On the other hand, Al Mubarak stresses that creating a “soft landing” for any international trade tensions, including those that the US administration might revive, is crucial to avoiding market disruption. He believes that prudent policies and constructive dialogue among major economic powers are the way to minimize risks and support stability.
Ultimately, Abu Dhabi is moving forward with its strategy to develop an integrated artificial intelligence ecosystem, betting on technologies that Al Mubarak believes will be the cornerstone of the global economy over the next decade. With massive investments poured into infrastructure and innovation, the Emirati capital could become a regional model for how to integrate technology into developmental plans. However, achieving this vision requires careful handling of privacy, security, and global partnership challenges that the increasing use of artificial intelligence may impose.
