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Google finally reveals chat AI plans with Search

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Google chief executive officer Sundar Pichai has addressed some of the persistent queries from the world on integration with conversational artificial intelligence (AI) features into the most used search engine, especially after Microsoft stole a march over using chatGPT with its Bing offering.

When asked why the company did not release a chatbot earlier, Pichai said Google was still trying to find the right market. Nevertheless, Pichai’s proposal to integrate conversational AI into Google’s search engine could revolutionise the way we interact with the internet.

In an interview with the Wall Street Journal, Pichai stated that AI advancements will enhance Google’s ability to answer a variety of search queries. “Will people be able to ask questions to Google and engage with LLMs (large language models) in the context of search? Absolutely,” Pichai said.

Pichai also dismissed reports that chatbots posed a threat to Google’s search business, which accounts for more than half of the company’s revenue. He proposed tapping Google’s lead in developing computer programs called LLMs in the search function. LLMs can process and respond to natural-language prompts with human-like prose, allowing users to ask follow-up questions to their original queries.

Google is testing several new search products and has begun testing new AI features within Gmail and other work-related products. Pichai revealed that Google Brain and DeepMind would work together more closely to build large algorithms to improve Bard. Like Microsoft, Google aims to use its investment in AI models to win wider business.

Pichai is dealing with one of the biggest threats to Google’s core business in years as he also faces pressure to cut costs. In January, Alphabet disclosed it would slash 12,000 jobs or 6% of staff. Microsoft expects to generate $2 billion in revenue for every percentage point it gains in the search market, of which Google has a more than 90% share.

With Google and Microsoft competing in the race to develop the best AI-powered search engine, the future of search technology looks exciting.

Google’s shares traded higher by 2.37% at $107.44 on Thursday.

Business

Sheikh Mohammed announces new UAE Ministry of Foreign Trade and renames Ministry of Economy

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In a major UAE government move, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, has announced the creation of a new Ministry of Foreign Trade and renamed the Ministry of Economy to the Ministry of Economy and Tourism.

Taking to the social media platform X, Sheikh Mohammed said the decisions were made in consultation with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE.

“Brothers and sisters, after consultation with my brother, the President of the State, may God protect him, and with his approval, we announce today several changes in the UAE government as follows: The Ministry of Foreign Trade was established in the UAE government and the name of the Ministry of Economy is changed to Ministry of Economy and Tourism,” the Dubai Ruler wrote in his post.  

Key announcements include:

  • The establishment of a new Ministry of Foreign Trade, with Dr. Thani Al Zeyoudi appointed as the minister.
  • The Ministry of Economy is now renamed the Ministry of Economy and Tourism, to reflect its broader scope. Abdullah Bin Touq Al Marri will continue to lead it.
  • The National Artificial Intelligence System will become an advisory member of the Cabinet, starting January 2026. It will also join the Ministerial Council for Development and the boards of all federal entities and government-owned companies.

The integration of AI into key decision-making bodies aims to enhance policy efficiency, provide real-time technical advice, and support future-focused governance across sectors.

Sheikh Mohammed emphasised that the move aligns with the UAE’s ongoing commitment to innovation, agility, and strategic leadership at all levels of government.

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Real estate

Abu Dhabi launches smart platform to boost real estate investment and speed up construction approvals

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Real estate investors in Abu Dhabi have a new reason to celebrate. The Department of Municipalities and Transport (DMT) has launched Binaa, an AI-powered digital platform that promises to slash building permit approval times by up to 70 per cent and reduce unnecessary construction costs, making the emirate even more attractive for real estate development and investment. 

Unveiled during the Abu Dhabi Infrastructure Summit, the goal of Binaa is to dramatically reduce red tape, speed up approvals, and modernise how building projects are reviewed and managed.

What Binaa Means for You:

  • Up to 70 per cent faster permit approvals
  • Simplified process for private villa construction
  • Real-time tracking for architects, contractors, and homeowners
  • Minimises the cost and environmental impact of over-designed plans
  • Supports full coordination across 15 plus government entities

Smarter Construction, Powered by AI

Binaa uses AI, Building Information Modelling (BIM), and virtual/augmented reality to help spot design inefficiencies and ensure buildings meet safety and sustainability codes. It can also simulate site inspections using 3D overlays, making it easier to spot errors before they become costly construction issues.

During Phase 1, the platform will focus on private villas, which account for around 20,000 applications annually. Future phases will expand to larger developments.

One Platform, Endless Possibilities

Binaa offers a single digital window for managing the entire building process. It allows instant collaboration between consultants, project owners, and government agencies.

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Business

UAE Central Bank keeps interest rate steady at 4.40%

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The Central Bank of the UAE (CBUAE) has announced that it will maintain its Base Rate at 4.40%, following the US Federal Reserve’s decision to leave its Interest Rate on Reserve Balances (IORB) unchanged.

The Base Rate is applied to the Overnight Deposit Facility (ODF) and serves as a key benchmark for short-term interest rates in the country’s financial system.

In line with this, the CBUAE also confirmed that the borrowing rate for short-term liquidity from the central bank will remain 50 basis points above the Base Rate, applicable across all standing credit facilities.

What does this mean?
Anchored to the US Fed’s IORB, the UAE’s Base Rate reflects the overall monetary policy stance and helps set the floor for overnight money market interest rates, ensuring stability in the financial sector.

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