A day after Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, pledged that the UAE would be the country in the world fastest to recover from the Covid-19 pandemic, Dubai opened its first major in-person event of the year.
Gitex Technology Week kicked off on Sunday when thousands of socially distanced visitors descended on the Dubai World Trade Centre.
Strict protocols did little to take away from the shine of the impressive exhibition, which put on show the very best in future technologies.
The opening day featured dart-throwing robots, AI artists, autonomous vehicles and humanised androids.
Here, The National picks five of the coolest exhibits on show this year.
All about air travel – Hyundai Uber
We could not visit Gitex without mentioning a flying taxi. Taking centre stage in the main hall of the exhibition centre was the Hyundai Uber, an air taxi that can travel at speeds up to 290kph.
The imposing vehicle, which can carry up to four passengers and the pilot, was unveiled earlier this year in Las Vegas.
Although still in its concept stage, the electric aircraft is designed with a cruising altitude of about 300 metres. And with between five and seven minutes of recharging, the flying Uber could travel up to 100 kilometres.
The model is designed to take off vertically, transition to wing-borne lift in cruise mode, then transition back to vertical flight to land. Visitors to Gitex were even given a virtual reality experience of what a trip on board the future of aerial ride sharing would be like.
Meet Adran, the humanised robot
A trip to Gitex would not be complete without a face-to-face meeting with a lifelike robot.
Meet Adran, a blue humanoid developed using advanced software, sensors, artificial skin and animatronics. He may not be as sophisticated as Sophia, the robot that addressed the UN General Assembly, but he is just as charming.
If you need advice about what to check out at this year’s exhibition, he is your go-to robot man.
Described as a human from the future, his backstory is quite unique. A 37-year-old from London, he claims to travel back and forth between Mars and Earth as an interplanetary tele communicator. What that means exactly, we have yet to figure out.
Although his voice was powered by a human being at Gitex, his software gave a glimpse into the awe-inspiring potential of AI and robotics – and his unique exterior makes for a great selfie.
A supercar with a difference
Drawing the crowds this year was the BMW vehicle collection at the Etisalat stand. Visitors were given a sneak preview of the Vision M Next, the latest vision vehicle by BMW. The sleek design, complete with scissor doors, gave car enthusiasts a sporty glimpse into the future of luxury mobility.
The hybrid vehicle, which is still in its concept stages, would be able to accelerate from 0-100kph in 3.6 seconds. It can operate as fully electric or petrol and differs from other electric cars by offering users an acoustic soundscape like a traditional sports car.
A vending machine that comes to you
True to form, Huawei had a host of exciting products on show. One that impressed us was the autonomous vehicle that brings snacks right to you. Fun fact: two of these roaming vending machines are already in operation in the city, close to Dubai Mall.
Operated by Neolix, a Chinese tech company, the driverless vehicles are designed for last-mile deliveries.
The small, refrigerated machine operates through a mapping system that means it does not need to be controlled by a driver. A single battery charge lasts up to six hours and it has the ability to stop at different points depending on demand. The driverless vehicle travels below 20kph and is fitted with four sensors at the front and four at the back to avoid collisions with obstacles and people.
On the side of the vehicle is a tablet that allows customers to select their product of choice, be it a bottle of water or can of fizzy pop, and make contactless payments.
Feel the music
They say music is food for the soul, but for the deaf community it is often an experience lost. Not any more.
On display this year is the SoundShirt, a haptic wearable device that allows deaf users to feel music on their skin.
Designed by fashion tech company Cutecircuit, the SoundShirt brings music to life using a series of haptic sensors built into the material.
Whether a heavy metal classic or an orchestral masterpiece, the sound shirt lets users get fully immersed in music through a number of vibrations that follow the beat of the chosen track.
The wireless and lightweight garment looks like a piece of active wear and retails at about $700 (Dh2,700). There are 28 micro-actuators embedded in the fabric of the garment, which receive the sound wirelessly and in real-time as touch data.
Killing of Qassem Suleimani
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S23%20ULTRA
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%206.8%22%20edge%20quad-HD%2B%20dynamic%20Amoled%202X%2C%20Infinity-O%2C%203088%20x%201440%2C%20500ppi%2C%20HDR10%2B%2C%20120Hz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%204nm%20Qualcomm%20Snapdragon%208%20Gen%202%2C%2064-bit%20octa-core%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F12GB%20RAM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20128%2F256%2F512GB%2F1TB%20(only%20128GB%20has%20an%208GB%20RAM%20option)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2013%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20quad%2012MP%20ultra-wide%20f%2F2.2%20%2B%20200MP%20wide%20f%2F1.7%20%2B%2010MP%20telephoto%20f%2F4.9%20%2B%2010MP%20telephoto%202.4%3B%203x%2F10x%20optical%20zoom%2C%20Space%20Zoom%20up%20to%20100x%3B%20auto%20HDR%2C%20expert%20RAW%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%208K%4024%2F30fps%2C%204K%4060fps%2C%20full-HD%4060fps%2C%20HD%4030fps%2C%20full-HD%20super%20slo-mo%40960fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2012MP%20f%2F2.2%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%205000mAh%2C%20fast%20wireless%20charging%202.0%2C%20Wireless%20PowerShare%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%205G%2C%20Wi-Fi%2C%20Bluetooth%205.2%2C%20NFC%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3B%20built-in%20Galaxy%20S%20Pen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESIM%3A%3C%2Fstrong%3E%20single%20nano%20%2F%20nano%20%2B%20eSIM%20%2F%20nano%20%2B%20nano%20%2B%20eSIM%20%2F%20nano%20%2B%20nano%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20cream%2C%20green%2C%20lavender%2C%20phantom%20black%3B%20online%20exclusives%3A%20graphite%2C%20lime%2C%20red%2C%20sky%20blue%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh4%2C949%20for%20256GB%2C%20Dh5%2C449%20for%20512GB%2C%20Dh6%2C449%20for%201TB%3B%20128GB%20unavailable%20in%20the%20UAE%3C%2Fp%3E%0A
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.”
