Egyptian entrepreneur and engineer Mohamed Aboul Naga Nagaty shared his thoughts, saying that 50,000 or 100,000 Egyptian Pounds isn't enough to kickstart a business in Egypt. He explained that while this amount might get you started in e-commerce, it's simply not enough to set up a full-fledged company.
He added that today, starting a project typically needs investments between 1.5 and 2 million EGP. His advice? Look into partnerships instead of going solo, so you and your partners can combine your skills and experiences.
During his appearance on the 'Kelma Akheera' program on ON TV, Aboul Naga highlighted how artificial intelligence is rapidly taking over every part of our lives. He pointed out that the world is going through a massive change that will directly affect the job market and economy in the next few years.
He believes Egypt has a fantastic chance to dive deep into AI. How? By launching initiatives to teach as many young people as possible how to use this 'superpower.' He stressed that keeping up with global tech trends isn't just a choice anymore; it's absolutely essential.
Aboul Naga noted that it will take a long time for Egypt to reach the global AI influence of countries like the United States or China. Still, he emphasized how important it is for Egypt to become a producer in this field, even if it doesn't achieve the same level of technological power right away.
Nagaty also issued a warning: some traditional jobs, especially those in call centers, could disappear within the next ten years. This is all thanks to our growing reliance on AI technologies and smart systems.
He mentioned that AI products and services are pretty affordable right now, but their prices might go up in the future. That's why learning these tools early on is key to using them effectively, saving time, and cutting costs.
Finally, he had a strong message for young people: if you refuse to adapt to fast-paced technology and developments, you'll find yourself out of a job. He put it simply: 'Whoever resists technological development will stay home, and artificial intelligence is the language of the future for every single field.'
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