In 2024, amid our post-brick-and-mortar retail, smartphone-obsessed digital world, signs, or at least digital signs, will play a bigger role than ever in terms of influencing our purchases and overall decisions.
That's according to Nita Odedra, strategy director for Blue Rhine Industries, a Dubai-based system integrator for digital signage and customer passenger experiences.
Gone are the days of neon and light bulb-illuminated signs, and in are the days of organic light-emitting diode (OLED) screens with sensors that potentially work in tandem with the smartphones in the pockets of millions of customers.
"There's a transition coming that will bring both mediums together," Ms Odedra said, referring to physical retail stores and screens.
"We've seen this transition in the UAE especially, where you have these flagship stores where there's less product on display, but there's more experiences viewable on screens."
Sustainable design and technology
Although LED and OLED screens already consume far less power than traditional signs and monitors, as more businesses and entities strive to reduce their carbon footprint and potentially achieve net-zero goals, Ms Odedra said signage technology will push the envelope on existing OLED designs to help make that possible.
Sensors in and near the screens and monitors will play a bigger role, she said.
"The sensors would trigger content to display only when someone is in close proximity in a store," she said.
"You're also going to have screens contained in housing that's more eco-friendly," she added, noting the plastic that generally surrounds the screens.
Software that allows for the remote monitoring of signage too will play an increasingly important role.
Zayed International Airport is an example of what to expect in terms of demand for sustainable signage.
"They wanted to reduce energy consumption as much as possible ... so we designed something custom made, not only in the form of the LEDs, but also to reduce energy consumption," she said.
Gesture control
Patent filings and plentiful prototypes suggest that interactive store sign experiences based on gesture control will also begin to hit a stride in 2024, said Ms Odedra.
Such technology will enable customers to interact with screens in stores without touching them, heightening the overall shopping experience with the wave of a hand.
She added that some of those signs will also be transparent.
"We've partnered with a company called Ameria AG," she said. "And there's this clear screen that's in between two poles ... able to track gestures."
In a social media post, Ameria AG explained the technology and what it might accomplish.
"This futuristic technology opens up a world of possibilities for interactive presentations, gaming, retail experiences, and so much more," the Instagram post from the company reads.
Similar signage technology and shopping experiences were also previewed back in 2022 at Dubai's Mall of the Emirates, through a partnership between Cisco and Majid Al Futtaim.
Ms Odedra said with the technology quickly evolving and prices coming down, gesture-controlled sign experiences will soon become more prevalent as well.
"It's a Minority Report experience," she said, referring to the sci-fi film.
Augmented reality and hyper-personalised experiences
Although it doesn't fall squarely into the realm of traditional signage, Ms Odedra said that retail stores will be increasingly using the smartphone screens carried by customers for augmented reality experiences that will help to inform purchasing decisions.
"You could hover your phone over a screen or a mannequin, and it could give you information on that product," she said. Proximity sensors and various beacons, which are increasingly being showcased at industry trade shows, will also be a part of the shopping experience, potentially making for more dynamic content that is displayed on screens throughout the store.
"What you see [on the screen] might be hyper-personalised based on your interests," she said.
Digital billboards will also be increasingly reliant on sensors and data that is contingent on things such as weather and events.
"If you're somewhere in the UK where it's not so sunny all the time, on those sunny days, you might suddenly see an advertisement for ice cream or air con units," she said.
Billboards and signs might also be able to use automatic number-plate recognition and facial recognition to help display relevant information depending on what cars are driving by or who is walking near screens and digital signs, Ms Odedra said.
"It would be a seamless and intuitive experience," she said.
Las Vegas Sphere will inspire new ideas
For a good portion of 2023, The Sphere, an auditorium and entertainment venue in Las Vegas managed to make headlines for its technological prowess as it took the title of being the world’s largest spherical structure with a 16k-resolution wraparound LED screen that measures 15,000 square metres.
To make a splash in Las Vegas, known for its bright and plentiful lights, was no easy feat, but it was the culmination of a trend that had been building momentum.
"Burj Khalifa was an innovator in this respect," she said, referring to the illumination on the façade of the Dubai buildings, showing various videos and commemorating important moments with pictures or symbols.
"And if you look at the UAE skyline overall, you have these building facades that light up as well," she added.
However, she cautioned that while The Sphere might look impressive from afar, the exterior, up close, looks more ambiguous and is not as pleasing to the eye.
"If you're walking close to it on the street, it's not exactly clear what you're looking at," she said. "The lights on the exterior are spaced apart when you're close ... but it looks great from afar or from a plane."
Still, it is a safe bet that we will see more exteriors of buildings with lighting that can be customised and yield viral content designed to be recorded and shared on mobile devices, she said.
"We're actually ahead of the curve," Ms Odedra said, referring to the Mena region's use of the screens on the exoskeletons of buildings.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
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Fuel consumption: 7.8L/100km
Price: from Dh94,900
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UAE currency: the story behind the money in your pockets
Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
The years Ramadan fell in May
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
THE SPECS
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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