Global spending on technologies such as augmented reality and virtual reality is forecast to rise almost 78.5 per cent year-on-year to $18.8 billion (Dh69bn) this year, according to the Massachusetts-based International Data Corporation.
The wave of investment being ploughed into the technology is something that has sparked a moral debate within the tech industry. However, it is not the only area of development attracting both scrutiny and funding. Here, The National looks at seven top technology trends set to make waves in the year ahead.
Quantum computing in the spotlight
Although the possibility of a quantum computer was proposed as far back as in 1982, it was only in 2012 the first venture was undertaken to explore commercial uses. Google claimed its Bristlecone computer had reached quantum supremacy — a milestone in quantum computing — in October, but its claim was disputed by IBM and others.
Google's eventual aim is to develop a quantum computer model that will be 100 million times faster than any conventional computer in its labs.
Capable of performing complex calculations in less than fractions of a second, quantum computing could be one of the biggest science revolutions yet.
“Quantum computers could solve problems that would take traditional computers a billion years. The most affected sectors will include technology, financials, healthcare, infrastructure and energy,” a Bank of America Merrill Lynch report released in October said.
Moving to “intellectual digital assistants”
Users are no longer satisfied with just telling assistants — such as Amazon’s Alexa, Google Assistant, Apple’s Siri — what to do. They also want them to automatically execute certain tasks.
2020 will be the year when digital assistants — using artificial intelligence and machine learning — start to understand the context of what users are doing, recommend “potential next steps, identify mistakes and start to engage with users in dynamic conversations”, said Jonathan Wood, Middle East and Africa general manager for New York-headquartered software firm Infor.
Last month, tech giants Google, Amazon and Apple agreed to collaborate to make digital assistants developed by different brands compatible with each other.
The 5G supercycle
"2020 will be the year of the 5G super cycle … and Apple will be the clear winner", Daniel Ives, an analyst at Wedbush Securities, wrote in a note this week.
Investment in 5G technology is set to rise by 90 per cent this year, according to US research firm Gartner. Total revenue from the deployment of 5G infrastructure will reach $4.2bn in 2020, up from $2.2bn last year.
Many smartphone manufacturers such as Samsung, Huawei, LG and OnePlus already sell 5G-enabled phones and Apple is expected to launch 5G iPhones in September.
Consumers to demand more privacy controls
With nearly everything being connected, consumers are facing both security and privacy risks. Industry analysts predict that 2020 will see a growing number of consumers take a stand on their personal data by responding positively to brands that protect their right to privacy.
“Technology companies will continue to be, rightfully, pressured by consumers to properly equip their software and devices to ensure their information is private and protected,” said Chinese technology company Lenovo in one of its recent notes.
Last year, the UAE passed a law that safeguards the health data of patients and placed an onus on companies involved in healthcare, insurance, technologies to make sure information is properly stored and handled.
Mobile cryptocurrency
With more marketplaces supporting cryptocurrency payments, many consumers will make the switch to cryptocurrency accounts accessible by mobile. By 2025, 50 per cent of people with a smartphone but without a bank account will use a mobile-accessible cryptocurrency account, says Gartner.
Ethical AI to reach masses
While AI is here to stay, it does carry “unintended and undesirable biases given it’s created by humans”, Lenovo said in a 2020 tech predictions note last month.
“Due to this, in 2020 and beyond, we will see an increased focus on governance with organisations establishing departments that will be tasked with deploying AI responsibly so that society does indeed benefit from it,” it added.
Many tech companies have already taken steps to address ethical issues in AI application. For instance, Alphabet-owned Google is giving away $25 million to projects that propose ways to use AI in building a more humane society. Microsoft has also committed $115m to an "AI for Good" initiative.
Gaming in the cloud
Consumer appetite for cloud gaming will explode with the creation of new platforms such as Apple's Arcade and Google's Stadia, offering users the option to play games on-demand from virtually anywhere. Consumers would prefer not only to play on their smartphones and tablets but also on their ultra-portable laptops, especially when away from their home console or high-end personal computer geared for gaming.
Last year, Etisalat — the biggest telecoms operator in the UAE — launched the first-ever cloud gaming service to promote e-gaming in the region and encourage non-gamers to join the ecosystem.
UAE currency: the story behind the money in your pockets
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.”
The Laughing Apple
Yusuf/Cat Stevens
(Verve Decca Crossover)
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Killing of Qassem Suleimani
Avatar%3A%20The%20Way%20of%20Water
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJames%20Cameron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ESam%20Worthington%2C%20Zoe%20Saldana%2C%20Sigourney%20Weaver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The years Ramadan fell in May
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
COMPANY%20PROFILE
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WISH
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Jiu-jitsu calendar of events for 2017-2018:
August 5:
Round-1 of the President’s Cup in Al Ain.
August 11-13:
Asian Championship in Vietnam.
September 8-9:
Ajman International.
September 16-17
Asian Indoor and Martial Arts Games, Ashgabat.
September 22-24:
IJJF Balkan Junior Open, Montenegro.
September 23-24:
Grand Slam Los Angeles.
September 29:
Round-1 Mother of The Nation Cup.
October 13-14:
Al Ain U18 International.
September 20-21:
Al Ain International.
November 3:
Round-2 Mother of The National Cup.
November 4:
Round-2 President’s Cup.
November 10-12:
Grand Slam Rio de Janeiro.
November 24-26:
World Championship, Columbia.
November 30:
World Beach Championship, Columbia.
December 8-9:
Dubai International.
December 23:
Round-3 President’s Cup, Sharjah.
January 12-13:
Grand Slam Abu Dhabi.
January 26-27:
Fujairah International.
February 3:
Round-4 President’s Cup, Al Dhafra.
February 16-17:
Ras Al Khaimah International.
February 23-24:
The Challenge Championship.
March 10-11:
Grand Slam London.
March 16:
Final Round – Mother of The Nation.
March 17:
Final Round – President’s Cup.
Company%20profile
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Racecard
5.25pm: Etihad Museum – Maiden (TB) Dh82,500 (Turf) 1,200m
6pm: Al Shindaga Museum – Handicap (TB) Dh87,500 (Dirt) 1,200m
6.35pm: Poet Al Oqaili – Handicap (TB) Dh95,000 (T) 1,400m
7.10pm: Majlis Ghurfat Al Sheif – Handicap (TB) Dh87,500 (D) 1,600m
7.45pm: Hatta – Handicap (TB) Dh95,000 (T) 1,400m
8.20pm: Al Fahidi – Rated Conditions (TB) Dh87,500 (D) 2,200m
8.55pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m
9.30pm: Coins Museum – Rated Conditions (TB) Dh95,000 (D) 1,600m
10.05pm: Al Quoz Creative – Handicap (TB) Dh95,000 (T) 1,000m