The International Consumer Electronics Show last month in Las Vegas showcased the latest trends in consumer technology such as connected cars, Ultra HD TVs, smart home appliances and 3D printing.
However, none came close to creating as much buzz or attracting more attention than so-called wearables.
According to IDC (where I am a research director), this technology can be divided into three categories: complex accessories, smart accessories and smart wearables.
• Complex accessories are connected devices designed to operate partially independently from other devices, but are only fully operational when connected to a smartphone, tablet or PC. This category includes fitness trackers such as the Nike Fuel Band and the Fitbit, which are well established and commonly adopted devices.
• Smart accessories are devices that allow the installation of third-party applications such as Twitter and Instagram, but depend on other connected devices – usually smartphones or videogame consoles – to work. Smartwatches such as Samsung's Galaxy Gear fall under this category, as do smart glasses such as the Oculus Rift.
• Finally, we have smart wearables – computing devices that can function completely independently of any other devices. Google Glass is in this category.
Smart glasses can fall under any of those three categories. They can also be split into two distinct areas: augmented reality (AR) glasses and virtual reality (VR) glasses. AR glasses allow us to expand the world we see. Through their lenses, we can get additional information of our surroundings, such as weather and landmark information, walking or driving directions to a destination we can visualise, text translations for store and road signs, or train and flight schedules.
While wearing such devices we could also record or photograph whatever we see.
As AR glasses are constantly connected to the internet, they offer the potential to give their users immediate access to all kinds of data, serving as knowledge-expansion devices. When combined with the profiling capabilities currently being developed by several companies including Google and Facebook, they will, at some point, enable us to shop smarter. For example, while facing a store in a shopping mall, we can get instant information about what goods it offers, whether we have shopped there before, what it was that we bought and, based on our history of purchases and current store promotions, suggestions of things for us to buy at that moment.
However, if we extrapolate these capabilities a bit further, there may soon come a day when we’ll face another person and their complete profile will pop up in front of our eyes. This will, at the very least, change the present concept of “first impression”, as we’ll get to know far more about a person we are meeting for the first time than just our current visual-based gut feeling. The ability of recording or photographing anything in front of our eyes also brings to mind privacy concerns.
Google has made a point of creating visual indicators to let others know that the wearer of a Google Glass is either recording a movie or taking pictures at a given moment. However, how likely is it that people walking or playing around someone wearing Google Glasses, or any other AR glasses, will notice such indicators?
And than there are the VR glasses: headgear that allow users to have a more immersive experience of movies and video games. They range from personal movie viewers such as Sony's HMZ-T3 headset to more sophisticated gaming-focused devices such as the Oculus Rift, which offers its users stereoscopic 3D views and low-latency 360-degree head tracking that allow them to seamlessly look around a virtual world as they would in real life. As well as the Oculus Rift, many other revolutionary devices are soon to be launched into the consumer market, such as Avegant's Glyph, which is said to be part Google Glass, part Oculus Rift and part Beats by Dre. Apple is also said to be working on its own VR eyewear, though IDC doesn't expect a launch anytime soon. Actually, according to IDC's Consumer Technology Predictions for 2014, it is very unlikely that even iWatch – Apple's own smartwatch – will be announced this year.
In further developments, Sony and Microsoft are expected to launch their own VR devices for their PS4 and Xbox One consoles. It is anticipated that Microsoft's smart glasses will operate similarly to Google Glass, and they are said to be in only the very early prototype stages of development. PS4's VR headset is rumoured to launch within the year, and different sources speculate that it will use PS4's new stereo camera for head tracking and that its accuracy and resolution are to be higher than those of the Oculus Rift.
With the advances in gaming technology and the current state of high-resolution visuals, high-fidelity sound, and gamer interaction, virtual reality is the obvious next stage, and the gaming platform that offers it first will have a big advantage over the others.
In times when social media has already reduced human face-to-face interaction, we can already speculate that VR glasses and their immersive experiences will see our family members living in their own individual worlds inside our living rooms. We will be together, but living more separate lives than ever before.
Luckily, a recent IDC Connected Consumer Survey has indicated that, while wearable devices such as smart glasses have the potential to be a game-changing category on the level of smartphones, they are not yet ready for prime time in 2014 as there are still numerous tech limitations and the level of consumer interest is not yet very high.
The consumers surveyed still have many concerns relating to the cost and ease of use of such devices, and have very little understanding of their value proposition. Even though they expect companies such as Apple, Google, Microsoft, Samsung and Sony to offer trustworthy wearable devices in the near future, these companies will need to work hard on educating most consumers to understand the advantages of adopting such devices. Until then, our concerns around lack of privacy and isolation can wait a little.
Adriana Rangel is the SIS Research Director at IDC Middle East, Africa, and Turkey
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
More on Quran memorisation:
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.”
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla
Verdict: Three stars
The most expensive investment mistake you will ever make
When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.
“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.
This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).
Age
|
$250 a month
|
$500 a month
|
$1,000 a month
|
25
|
$640,829
|
$1,281,657
|
$2,563,315
|
35
|
$303,219
|
$606,439
|
$1,212,877
|
45
|
$131,596
|
$263,191
|
$526,382
|
55
|
$44,351
|
$88,702
|
$177,403
|
Results
%3Cp%3E%3Cstrong%3EStage%207%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20%E2%80%93%203hrs%2029min%2042ses%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%20%E2%80%93%2010sec%3Cbr%3E3.%20Geoffrey%20Bouchard%20(FRA)%20AG2R%20Citroen%20Team%20%E2%80%93%2042sec%3Cbr%3E%3Cstrong%3EGeneral%20Classification%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders%20%E2%80%93%2059se%3Cbr%3E3.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20%E2%80%9360sec%3Cbr%3ERed%20Jersey%20(General%20Classification)%3A%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EGreen%20Jersey%20(Points%20Classification)%3A%20Tim%20Merlier%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EWhite%20Jersey%20(Young%20Rider%20Classification)%3A%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EBlack%20Jersey%20(Intermediate%20Sprint%20Classification)%3A%20Edward%20Planckaert%20(FRA)%20Alpecin-Deceuninck%3C%2Fp%3E%0A