economy

Alabar: Montenegro has enormous potential, but capital seeks rules, stability and profitable projects

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The founder of Emaar Properties and one of the most famous investors in the Middle East, Mohamed Alabar, said that the future of business, investment and development is no longer possible without full involvement in artificial intelligence, but also without clear rules, political stability and profitable projects, writes Pobjeda.

Speaking about the rapid development of AI technology, Alabar said that the world is no longer talking only about classical artificial intelligence, but about a new phase – the so-called "agent AI", which, as he explained, does not only serve as a database, but can "think, process, predict and process".

According to him, the possibilities of such systems already seem almost unreal today. He cited the example of technology that can learn someone's thinking style, language, manner of expression and decision-making from years of electronic communication, messages and video meetings, and then automatically communicate on that person's behalf.

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"That's why I advise everyone to stay involved and learn about it. That's the only way to stay relevant in what you do," Alabar said.

He particularly focused on young people, emphasizing that new generations are already deeply immersed in the world of new technologies and that they adapt to changes much more easily than older generations.

"Young people today already live in an AI world. They are connected to what is happening in technology, science, and even politics. That's why I believe in them. They just need to stay connected, keep learning, and keep upgrading themselves week after week, because everything is changing too fast," said Alabar.

He believes that AI will undoubtedly eliminate some existing jobs, but that it will also open up new opportunities and different business models. As an illustration of such changes, he cited his own company, for which he expects business volume and turnover to grow, while simultaneously reducing inventory, precisely thanks to the efficiency brought by new technologies.

Speaking about the construction industry, Alabar said that it was a sector that had been changing slowly for decades, but that robotics and modern manufacturing were now radically changing that area as well. As an example, he cited a 15-story building built by robots in China, transported in containers and assembled in Abu Dhabi in just 12 days.

Such facilities, he said, also bring additional benefits - significantly higher energy efficiency, better air quality, and greater resistance to earthquakes.

"We have to believe in human abilities and in science," Alabar pointed out.

Continuing his presentation, he specifically addressed the countries of the region and the opportunities for partnerships between countries and large investors. He said that it is not possible to attract investors with invitations alone, but that each country must demonstrate that it offers sustainable and profitable projects.

"It all comes down to profitable ventures. You can invite anyone, anywhere, but the first question is whether it is a truly profitable project. And a profitable project implies good rules and regulations, a quality public system, a transparent process, minimal corruption, as well as overall good economic policies and political stability," Alabar stressed.

Speaking specifically about Montenegro, he pointed to the huge untapped potential, especially when it comes to the coast and tourism. Comparing Montenegro to Dubai, he said it is difficult to understand why a country with such a long coastline and close proximity to major European markets does not have many more tourists.

"If I look at Montenegro very simply, you have a huge coastline and you are only an hour away from Italy. In Dubai, we have 25 kilometers of coastline, and you have many times more. And yet, you have about 2.5 million visitors, and we have 20 million. These are basic figures that show how much room for growth there is," said Alabar.

He added that it is precisely from such simple economic indicators that he sees room for development and serious investments, but on condition that there is a clear investment framework.

"I'm an entrepreneur and I see the difference. In the end, it's all a matter of supply, demand and politics," concluded Alabar.

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