Intelligent CIO Middle East Issue 23 - Page 7

NEWS UAE FinTech start-up Trriple says digital payments will dethrone ‘Cash as King’ Digital payments will dethrone ‘cash as king’ in the Middle East, and boost regional GDP by nearly USD 100 billion, industry experts have announced. As Middle East countries accelerate their digital transformation with nationwide high-speed technology connectivity, one of the biggest benefits will be quick and easy mobile payments. Soon residents will be able to pay for parking tickets and in-store purchases, top up mobile phone minutes and data via mobile apps. Paolo Gagliardi, Chief Business Officer of the UAE-based financial technology start-up Trriple, said: “Once fast, secure, and easy-to-use digital payments become mainstream, that means ‘cash is king’ no more in the Middle East. “Using digital payments, consumers and merchants can save time and money, and gain real-time insights on transaction history and spending trends.” Trriple estimates that about 80% of the UAE’s transactions are done in cash, which can be expensive to process and often inconvenient. However, if the Middle East captured its full digital potential then the region could add USD 95 billion in GDP by 2020, according to a recent report by the consultancy McKinsey. Paolo Gagliardi, Chief Business Officer of the UAE-based financial technology start-up Trriple Cazar to deliver innovative AI recruitment technology with MS Cloud Dubai-based recruitment technology firm Cazar is moving its entire cloud technology to the Microsoft Azure cloud platform. In the past couple of months, Microsoft and Cazar have collaborated closely to migrate the Sniperhire platform and its customers in more than 50 countries over to Azure. During the process Cazar utilised the best of breed PaaS technologies in Azure such as Artificial Intelligence (AI) to drive new services for their customers and product innovation. Guy Rickett, CEO of Cazar, said: “Today’s employers want flexible, mobile technology that is easy to implement and secure and that can evolve with their business.” www.intelligentcio.com Guy Rickett, CEO of Cazar, said: “Today’s employers want flexible, mobile technology that is easy to implement and secure and that can evolve with their business. “Today, Azure is the gold standard in the industry, so it was a natural next step for us. Since our migration, we’ve already seen higher development speeds and reduced time-to-market for new features. “Our partnership with Microsoft allows us to bring key elements of artificial intelligence to our product development plans moving forward. “Through machine learning, language- processing algorithms and the use of chatbots, we can augment employers’ abilities to connect and engage with the right candidates quickly.” According to Accenture, the impact of AI technologies on business is projected to increase labour productivity by up to 40%. INTELLIGENTCIO 7