The CES in Las Vegas typically draws about 100,000 visitors, and this year AI is likely to be making big headlines. AP Photo
The CES in Las Vegas typically draws about 100,000 visitors, and this year AI is likely to be making big headlines. AP Photo
The CES in Las Vegas typically draws about 100,000 visitors, and this year AI is likely to be making big headlines. AP Photo
The CES in Las Vegas typically draws about 100,000 visitors, and this year AI is likely to be making big headlines. AP Photo

AI and automotive technology expected to take centre stage at CES 2024


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Artificial intelligence and car technology are likely to be the big topics at the CES, the world’s largest consumer electronics show, which begins in Las Vegas on Monday.

The CES typically draws about 100,000 people to see some of the world’s biggest technology firms unveil new gadgets and discuss trends in the industry.

Following the rise of generative AI tools such as ChatGPT and others during 2023, experts are predicting CES 2024 to be replete with AI-powered products as firms big and small look to take advantage of the increased interest in the technology.

Analyst Leo Gebbie, from CCS Insight, said it would be “no surprise” to see “a host of AI-centric devices of all shapes and sizes across the show floor”.

“Exhibitors at CES typically jump on the latest hot topic in tech, and for that reason we expect artificial intelligence to feature heavily across the show floor, with generative AI likely to be the main flavour,” he said.

“Some of the major agenda setters will use the event as a chance to demonstrate broad thought leadership in the exciting area, but we also expect on-device AI to figure prominently, especially as CES has historically been a gadget-centric show.”

These sentiments were echoed by fellow industry analyst Paolo Pescatore, of PP Foresight, who said AI was likely to be the “most discussed term everywhere at this year’s CES”.

“The euphoria around ChatGPT has reignited interest in AI and has been a wake-up call for all … expect developments in this area to heat up and represent a hotbed for innovation as the battle for supremacy among big tech intensifies,” he said.

“We shall no doubt see some interesting products on show as companies experiment with how best to introduce AI assistants and helpers into our everyday lives.”

Mr Gebbie said that AI was also likely to play a part in another key trend of this year’s show – car technology.

“Beyond AI, we expect the automotive sector will have a strong showing … it has become a central pillar of CES in recent years, with established car makers and tech companies using the event to reveal groundbreaking innovations,” he said.

“At CES 2023, Sony announced its entry into the car market in partnership with Honda, and BMW unveiled a concept car wrapped with an e-ink display to allow it to change colour. There were also plenty of developments in electric vehicles from car makers.”

“Hyundai, Kia and Mercedes-Benz are listed as featured exhibitors for this year’s event, alongside companies like Nvidia and Qualcomm, which are focused on powering the connected car experiences of the future,” he said.

“Of course, AI has a role to play here as well, with a continued focus on intelligent and self-driving vehicles. A large share of the Las Vegas Convention Centre is now dedicated to exhibitors focused on connected vehicles at CES, so it should prove fruitful ground.”

Elsewhere, Mr Pescatore said he expected to see traditional consumer electronic devices, such as televisions and smart home appliances, to feature heavily at CES, as they do each year.

“There will be no shortage of TVs with bigger screen sizes dominated by OLED and microLEDs, and we will probably see a bigger focus on 8K than in previous years,” he said.

“Flexible and rollable screens have featured prominently in previous years, and expect the latest edition to be no different. All forms of home appliances will feature, with all providers seeking to own the ‘smartness’ element of technology.”

“Among other things, this will include, but is not limited to, robot vacuums, ice machines, fridges, freezers, washing machines, and other home appliances. The talk is of smarter bedrooms, bathrooms, kitchens, and even gardens with robotic lawnmowers,” he said.

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Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

UPI facts

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Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

THE%20HOLDOVERS
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Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

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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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Goalkeepers: Jack Butland, Jordan Pickford, Nick Pope 
Defenders: John Stones, Harry Maguire, Phil Jones, Kyle Walker, Kieran Trippier, Gary Cahill, Ashley Young, Danny Rose, Trent Alexander-Arnold 
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Forwards: Harry Kane, Jamie Vardy, Marcus Rashford, Danny Welbeck

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Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani

Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh

Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani

Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

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EUROPE:
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USA:
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Children/Young Adult

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Updated: January 10, 2024, 4:04 AM