Dr Patrick Noack is an executive director at the Dubai Future Foundation
November 09, 2021
The Matrix is here. I’ll pull some strands together and I think you’ll agree.
Exhibit 1: the metaverse. That digital space where much of our lives may be lived is becoming a reality. In due course, built by technology giants like Facebook (sorry, Meta), Tencent, Snap and Microsoft, the metaverse will combine digital with virtual reality. Things like non-fungible tokens, digital currencies and experiences will be available to buy from the corporations from which we regularly buy goods and services in the "real" world. Nike, for example, indicated its intent to make and sell virtual branded sneakers and apparel in a recent trademark application.
Exhibit 2: neural interfaces. I have written about these before. These are technologies that connect our brains to digital devices. There have been massive strides relatively recently as well-funded private sector startups have joined the field and made significant progress in connective hardware and our understanding of parts of the brain. Some of such startups were acquired by established tech players. Specifically, Facebook purchased Ctrl-Labs in late 2019. Separately, US-based scientists reported in early October their success in mapping all of the brain cells associated with movement – the motor cortex.
Exhibit 3a: our bodies. These can be understood as a neural interface – a device that allows our brains to interact with the world. It is a biological interface, capable of taste, touch, hearing, smell and vision. In due course the neural interfaces from Exhibit 2 should plug straight into our brains and be capable of replicating the sensations of the functions of the body.
We could pause our consuming and gas-emitting bodies only to re-awaken them in a world where solutions were found and implemented.
Exhibit 3b: our brains. It appears that neurons, which fire the brainwaves to produce our thoughts and feelings, do not age quite like the rest of us. In 2013, neuroscientists at Yale University demonstrated that mice's brains were able to live twice as long as their bodies. Our own minds, scientists suspect, can also survive far longer than our bodies.
Pulling these exhibits together, it is not difficult to see how, in decades or centuries to come, our brains alone, without the need for bodies, are fully connected to a life-like virtual world.
With my sci-fi cap on, it’s not hard to imagine a battery of jars housing our connected brains. The space to hold the sum total of humanity’s brains would not need to be that much, either as each jar would need to be less than 20 centimetres on each side.
Just imagine: with good enough neural interfaces, we would not even know that we were body-less, because all experiences feel so “real”. This, moreover, would be quite an ecological solution to life, while allowing our lives to be so much longer.
Our life as a metaverse-connected-brain-in-a-jar would not be passive.
We would work, code, harvest, produce and consume, as much as we are now and billions of times more. But without the commute. Our interaction with AI and software would be much closer and more seamless, as there would be parts of the metaverse maintained and serviced by programmes. We might not even know they were programmes, so good is their probability-driven, machine-learning-based, rational decision-making.
But, most importantly: would we want that? Is this imagined way of life a dystopia or a utopia?
Consider this: given the choice, none of us would have decided 20 years ago to want to interact with one another onscreen, be exposed to divisive fake news or really care about some influencer’s opinion about hedgehog-flavoured crisps.
Dystopia is only possible if we make it so – and I acknowledge we appear more than capable.
But the brain-powered metaverse could also be a form of collective intelligence used for good. We could come together to solve problems that affect all of humanity. We could pause our consuming and gas-emitting bodies only to re-awaken them in a world where solutions were found and implemented. Virtual reality and remote machine operation would be our tools and means to improve the world and fix what’s broken. People – their brains – could be kept safe until the world is a better place. It could be like landing on a new planet that’s fit for living.
I am not advocating a collective move to living in a jar. Far from it.
In keeping with the mandate of the Dubai Future Foundation, I am saying that we need to anticipate technologies that may have an impact on our lives. We must anticipate the combination of emerging technologies: the metaverse will not exist in isolation, like neural interfaces will co-exist with other technologies.
I see these coming together and I see the opportunity and the obligation to provide a steer towards the common good.
We live in an era of stupendous innovation and today’s reality is unfamiliar to people of two generations ago. We are not on autopilot to a future decided by tech developers. We can shape the future to our needs and a radically different future ahead, that of ditching our bodies and unleash our brains to solve the problems of the planet, may be one of the options ahead.
There is always the option of settling on another planet, shipping ourselves there and hoping that it will sustain us long enough. But there surely must be a better, third way, which may simply mean that we will anticipate the implications of the Matrix and decide against developing it altogether. Developing a technology that has no clear social benefit, and doing so simply because we can profit, should not be reason enough.
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
Favourite things
Luxury: Enjoys window shopping for high-end bags and jewellery
Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount
University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China
Masters: Studying part-time for a master’s degree in international business marketing in Dubai
Vacation: Heads back home to see family in China
Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
PREMIER LEAGUE FIXTURES
All times UAE ( 4 GMT)
Saturday
West Ham United v Tottenham Hotspur (3.30pm)
Burnley v Huddersfield Town (7pm)
Everton v Bournemouth (7pm)
Manchester City v Crystal Palace (7pm)
Southampton v Manchester United (7pm)
Stoke City v Chelsea (7pm)
Swansea City v Watford (7pm)
Leicester City v Liverpool (8.30pm)
Sunday
Brighton and Hove Albion v Newcastle United (7pm)
Monday
Arsenal v West Bromwich Albion (11pm)
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
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.”
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples. Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts. Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.