Sharakah explores AI’s role in SMEs at 19th INSME Conference in Berlin

Muscat:  Oman’s top SME development company, Sharakah, recently took part in the 19th INSME annual meeting in Berlin, Germany. The event delved into the relationship between small and medium-sized enterprises (SMEs) and artificial intelligence (AI). Deliberations at the meet focused on the benefits of AI adoption for businesses and employees and shed light on the associated risks and challenges of implementation for SMEs.

The meeting was organised by the International Network for Small and Medium Enterprises, [ INSME], a legally recognised non-profit organisation headquartered at Rome, Italy and operating under the guidance of the Organisation for Economic Co-operation and Development (OECD). Building on this, INSME provides an extensive range of services to assist its members in reaching their objectives more effectively. The network facilitates cross-border connections and collaborations, enhancing the capabilities and reach of its members.

Members and participants from more than 34 countries were present at the meeting.

Sharakah Senior Project Executive Rawan Al Nazwani participated in the event titled “Digital Transformation for Future Success in SMEs.” The session delved into the critical role of AI-driven digital transformation in shaping the future of SMEs. It highlighted real-world success stories of AI implementation that emphasised the human element, acknowledging that workers are the backbone of innovation, rather than just technology.

Ali Ahmed Muqaibal, CEO of Sharakah said, “The meeting armed SMEs with the knowledge to navigate the benefits and risks of AI, covering key areas such as automation for increased productivity and the importance of ethical use. It focused on how AI can offer competitive advantages through data-driven decisions and contribute to long-term cost savings in areas like supply chain management. The deliberations also touched on the need for skilled personnel and user-friendly AI tools, as well as the role of AI in risk mitigation, scalability, and sustainability.”

He added, “We were honoured to participate in this esteemed event, which we view as an invaluable platform for exchanging knowledge and expertise in the SME sector with international organisations. This occasion held the promise to be transformative for SMEs that stand to gain from knowledge shared and a range of innovative products and services.”

About Sharakah

Sharakah, among Oman’s first SME development initiatives has been fostering the entrepreneurial spirit since 1998 when it was incorporated by a Royal Decree No. (76/98). Since its inception, Sharakah has provided support to a substantial number of projects in different sectors through awareness, training programs, financial support, consultation services and more. Playing a strategic role in the SMEs ecosystem in the Sultanate and making a positive impact is Sharakah’s vision, and its strategies revolve around the objectives of benefitting the Omani SME sector.