25 April 2024 11:00 am

How smart technology is helping make sustainable living a reality

Apr 19, 2024

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On Innovation news network Lucy Han of ABB takes us inside a new ‘smart community’ near the Swedish capital of Stockholm, an example of how new advances in energy management and people-focused technology are helping residents directly manage their carbon footprint – while enjoying the very best of modern community living.  It’s all about How smart technology is helping make sustainable living a reality.

© shutterstock/metamorworks

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How smart technology is helping make sustainable living a reality

By Lucy Han

Reducing energy costs is now a leading concern for European residents. Modern dwellers also want better carbon credentials combined with smart technology and home solutions that offer ease of use, access, and control so they can enjoy the very best of energy-smart, high-tech living.

As industrial systems are being digitalised and decarbonised as part of the global clean energy transition, so are residential buildings being transformed. This ushers in a new era of connected communities populated by eco-savvy residents who want to maximise their use of self-generated energy and lead more meaningful lives through engagement with smart technology.

A new nexus of forces is in play here: a shift in the balance of power between the top-down organisation of resources associated with ‘smart cities’ and the bottom-up action from the new generation of ‘smart communities’ popping up worldwide (particularly in Europe). These movements intersect, creating a vision for the energy-efficient communities of the future.

Sustainability, cost-effectiveness, and comfort come at a cost, however. The demands on domestic infrastructure—from heat pumps and electric vehicles to 5G—are escalating, transforming consumer decision-making and consumption habits. Tracking and sharing energy data effectively is a priority.

In this article, we will discuss how the ability to generate and share energy is enabling communities to lower their carbon footprint and energy cost; how everything from washing machines to energy and security systems can now be monitored and controlled via a single mobile app; and how a smart community outside Stockholm is providing a blueprint for clean, collaborative, integrated living.

Sustainable living at the touch of a button

Regarding the future of connected living, COVID-19 effectively condensed decades of social and behavioural change into just a few months. For example, touch-free interfaces for enhanced hygiene began to be integrated into office buildings. At the same time, space management, intelligent lighting and heating, ventilation, and air conditioning (HVAC) solutions will all help improve employee comfort and productivity in a post-pandemic world.

These smart devices can also help homeowners reduce their energy bills, satisfy residents’ demand for flexibility and autonomy, and, critically, reduce the overall carbon footprint of buildings, which, with their high-power demand, account for around 40% of global energy consumption.

A pioneering new project in Sweden featuring ABB Smart Buildings, Samsung SmartThings, and other partners is part of a growing trend of industry organisations collaborating to develop and deploy innovative energy management, energy consumption, and carbon emissions reduction technologies. At the same time, a holistic, user-friendly smart home system boosts comfort and ease of use.

The homes at Brobyholm will be the first buildings in the world to access a single holistic smart home solution, with all products and devices – including the ABB-free@home® smart home system, ABB’s energy distribution and management technology – all connected with Samsung’s SmartThings platform.

All property assets, down to appliances and energy generation, are managed with Internet of Things (IoT) installation, with apps integrated into Brobyholm’s property management platform for holistic management at the community level. Based on the Matter industry standard, energy, motion, and door and window devices are controlled via the Samsung SmartThings app. ABB’s Matter-based Eve devices, which include energy sockets, door and window contacts, and motion sensors, can also be controlled via SmartThings.

The first-of-a-kind integrated system is designed to give residents the flexibility and autonomy they crave by covering every need: security, media, lighting, blinds, door entry, electricity outlets, energy, appliances, heating, ventilation, HVAC, sensors, cameras, TV, and energy management. Using insights derived from the various connected devices on their phones, a new breed of residents can manage their total energy usage—everything from turning off lights remotely to electric vehicle (EV) charging and load management.

Using a separate dashboard, the property operator can even run appliance diagnostics and efficiency maintenance by monitoring and controlling existing appliances in an emergency and informing residents about new devices installed in the unit for added maintenance and operation efficiency.

Brobyholm: a design for life

While we used to think of smart technology only in terms of individual homes, the pace of adoption among multi-dwelling, tower and multi-villa developments is gathering pace. At the new housing development in Brobyholm, the project partners have responded by expanding their vision for smart living from single flats or single house levels to include whole properties and the wider community.

That vision is bold: carbon-free living within a generation in a new ‘exurb’ featuring 500 (eventually reaching 2,000) predominantly single-family homes, where residents are empowered to make energy and carbon savings via enhanced access to fully connected smart home technology.

smart technology
© Shutterstock/Summit Art Creations

To maximise potential, ABB’s InSite energy management system monitors and controls the main electrical assets, including photo voltaic (PV) generation, EV charging, and gas and water, to optimise home energy flows. In addition to the data collected from each household, forecast PV production, grid tariffs and consumption patterns are considered to balance the grid across the entire community through virtual energy sharing – significantly reducing costs for the families living there.

Based on energy data, the InSite energy management system manages loads to maximise the use of self-generated energy. For example, residents’ water tanks can be heated when there is surplus energy generated by solar panels—when solar power is low, devices will run in energy-saving mode. EVs located in designated mobility zones and equipped with ABB Terra AC charger technology can be used for energy optimisation and flexibility via ‘vehicle-to-everything’ technology.

Additionally, as all consumers and producers are connected under one easy-to-use platform, excess power can be sold on the flexibility market, generating income for all the inhabitants in Brobyholm.

The smart homes of the future

To accelerate the transition to net zero, we must consider issues like industry standardisation and regulatory certainty and the accessibility of technology, innovation, financing, and industry skills. The Net Zero Home project in Brobyholm and similar efforts help flesh this out in real time.

Brobyholm is a glimpse into the future of housing and sustainable living. It is made possible thanks to open technology, the adoption of industry standards, and vendors working together to innovate. Through this type of partnership and collaboration, it is possible to leverage cutting-edge technology and innovations that enhance people’s lives and reduce their reliance on precious global resources.

As the world’s demand for electricity grows, Brobyholm is an inspiring example of future-proofing and new thinking – from both project partners and energy consumers – and another exciting step forward in ABB’s ambition to create flexible, future-forward tech solutions.

Exploring the Programmatic Pulse of MENA

Feb 23, 2024

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Are we witnessing the golden age of programmatic advertising in MENA?

How is the space developing in MENA? We take a look at some of the trends, opportunities and challenges.

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Exploring the Programmatic Pulse of MENA

 

by  on 23rd February 2024 in News

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Programmatic’s foray into the Middle East and North Africa presents a unique blend of opportunities and challenges. This evolution is propelled by a confluence of factors: groundbreaking tech advancements, a pronounced shift towards mobile-first strategies, and the critical need to address burgeoning privacy regulations alongside the rich tapestry of cultural nuances unique to the region.

 

 

Programmatic on the Rise in MENA

Industry experts expect programmatic advertising to make up an increasingly important part of digital marketing in the region, with the Middle East and Africa programmatic advertising market expected to grow at a CAGR of 7.89% between 2022 and 2027.

Compared to its global counterparts, MENA’s programmatic advertising landscape is marked by a distinctive blend of growth and opportunity. While regions like North America and Europe have seen programmatic ad spending reach somewhat of a plateau, MENA’s market is experiencing rapid expansion, projected to grow 20% this year alone.

In the digital advertising landscape of the region, several DSPs stand out as most utilised, and are pivotal in shaping the digital advertising strategies across MENA. Leading the pack is Google Marketing Platform, known for its comprehensive suite of advertising tools. Amazon Advertising follows, leveraging its e-commerce insights for targeted ad placements. ADxAD is recognised for its strong presence in Asian and MENA markets, while AdLib DSP distinguishes itself with AI-driven optimisation features. Mediasmart proves to be highly used as it focuses on mobile-first advertising strategies, and Adobe Advertising Cloud offers a cross-channel advertising platform that integrates with Adobe’s suite of marketing tools.

A Mobile-First Approach 

In MENA, the rise of a mobile-first landscape is dramatically reshaping the programmatic advertising arena. This includes food delivery, fitness, finance, shopping, communication, and entertainment. Essentially, if there’s an app for a service, or game, it becomes the initial touchpoint for users in this region.

This is especially the case for mobile games, where gaming apps claim a 50% share, surpassing the global average of 40%. Programmatic ads across the mobile space, including  rewarded ads, which provide benefits such as in-game currency or access to new levels, continue to enjoy widespread popularity among gaming audiences, with a remarkable 74% of gamers indicating their approval of these advertising formats.

The broader movement towards a mobile-first approach in MENA emphasises the importance of understanding and adapting to the mobile user’s journey. A mobile-first strategy in programmatic advertising within MENA is about more than just technological adaptation; it’s a reflection of a deeper cultural shift towards immediacy and relevance in consumer interactions.

Challenges to Consider 

The specter of ad fraud looms large over the MENA region, casting a shadow on the programmatic advertising industry with estimates suggesting the region incurs around $1 billion in losses annually due to fraudulent activities. Ad fraud manifests in a myriad of deceptive practices, including fabricated impressions and clicks, ad stacking, and bot-driven traffic.

In fact, a study conducted by Forensiq highlighted the severity of the issue, revealing that more than half of the ad impressions within MENA’s programmatic space were deemed fraudulent. Given these challenges, it’s imperative for publishers in the MENA region to adopt and maintain rigorous ad fraud detection and prevention mechanisms.

Navigating the complex landscape of personally identifiable information (PII) usage also poses significant challenges in the MENA region, due to stringent new regulations that limit how brands, agencies, and publishers handle, store, and share PII. Key laws, such as the UAE Data Protection Law (2021), Bahrain’s Personal Data Protection Law (2019), and Saudi Arabia’s forthcoming Personal Data Protection Law (2021), underscore the necessity of consent and privacy in data processing, mirroring GDPR principles.

These regulations complicate traditional programmatic advertising techniques, which rely on third-party tracking cookies for personalised content delivery. As these methods clash with the emerging privacy-first standards, including the impending death of third-party cookies, the advertising sector is looking for alternatives that align with the region’s tightening data privacy framework, affecting countries including Qatar and Egypt as well.

This emergence of privacy-centric measures is supported by the advent of next-generation, privacy-centric marketing technologies. The implementation of such technology, including the promising integration of telco-verified IDs, heralds a significant shift towards more secure and efficient programmatic advertising practices within the region.

Making a Foray into MENA’s Programmatic Landscape

In the evolving digital landscape of the Middle East, publishers, brands, and agencies stand on the cusp of leveraging the region’s digital sophistication. MENA presents strong growth fundamentals for programmatic, with a surge in digital spending and technology adoption among consumers.

As the Middle East’s programmatic advertising sector continues to grow, with spending projected to reach significant figures in the coming years, those who capitalise on this growth will benefit from the vast opportunities presented by the region’s digital maturation.

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Source: ExchangeWire

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Is Your Business Ready for the Programmable World?

Dec 14, 2022

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Information Week Data Innovation queries if your business is ready for the programmable world. 

The programmable world from writing software codes to running machines to computing efficiently would be on the verge of programming the world. It would be a long-drawn effort, the contours and time unknown, but its direction is apparent.
The typical elements of software will become a part of our day-to-day life, bringing control, customization and automation to the increasingly entangled world around us. The experiences would be under your control. How different would it be from the world we live in today?
The image above is Credit: Carloscastilla via Alamy Stock

Is Your Business Ready for the Programmable World?

The programmable world will be a turning point for businesses and society. Businesses that prepare first will be best positioned to succeed.
Marc Carrel-Billiard
Global Lead, Accenture
December 13, 2022

Imagine a world where the environment around you is as programmable as software: a world where control, customization, and automation are enmeshed in our surroundings. In this world, people can command their physical environment to meet their own needs, choosing what they see, interact with and experience. Meanwhile, businesses leverage this enhanced programmability to reinvent their operations, subsequently building and delivering new experiences for their customers.

Already, nearly 80% of executives surveyed believe that programming the physical environment will emerge as a competitive differentiation in their industry. An early example of what’s to come in this space is Amazon’s Sidewalk service. For years, Amazon deployed hundreds of millions of Echo, Ring and Tile products in neighborhoods worldwide. Sidewalk creates a Bluetooth network that can extend connectivity up to half a mile beyond Wi-Fi range and lets anyone with compatible devices connect. If your dog escapes, a Tile tracker on its collar could stay connected thanks to Sidewalk bridges from your neighbors’ homes. This approach of connecting existing IoT devices to create instant smart neighborhoods hints at the power that connecting other, even more sophisticated technologies will soon unleash.

Leading enterprises will be at the forefront of the programmable world, tackling everything from innovating the next generation of customizable products and services, to architecting the hyper-personalized and hyper-automated experiences that shape our future world. Organizations that ignore this trend, fatigued from the promise of IoT, will struggle as the world automates around them. This will delay building the infrastructure and technology necessary to tap into this rich opportunity, and many organizations may find themselves playing catchup in a world that has already taken the next step.

Preparing for the Programmable World

To begin building a new generation of products, services, and experiences in the physical world that meet our new expectations for digital conveniences, enterprises will need a deep understanding of three layers that comprise the programmable world:

1. The connected. The connected devices that enable seamless interaction with our surroundings: IoT and wearables today, ambient computing and low latency 5G-based devices tomorrow.

2. The experiential. Digital twins of the physical world that provide real-time insights into environments and operations and which transform peoples’ experiences within them.

3. The material. A new generation of smart, automated manufacturing alongside innovations like programmable matter and smart materials; programmable matter can — as the phrase suggests — be “programmed” to change its physical properties upon direct command or by sensing a predetermined trigger.

Becoming a leader in the programmable world requires wide-ranging experimentation and continuous development across these three layers. Companies that achieve “full stack” programmability will blaze a trail, so it’s important for this journey to start as soon as possible. We recommend that organizations begin addressing the following as a priority:

  • Level up the connected layer. 5G will be a game-changer in terms of speed and low latency, but rollouts are still in early days. This presents an opportunity for organizations to pilot new use cases that leverage 5G capabilities, so that they can hit the ground running when it’s more broadly available.
  • Get involved with industry-wide alliances. Industry alliances will shape the development of new technology standards for the programmable world. Businesses that take part in these alliances will help ensure that the world evolves in a way that benefits their customers. From an interoperability perspective, this could mean participating in ecosystem-wide efforts to set standards for how devices connect and communicate.
  • Bridge the digital and physical worlds. All businesses should now consider building digital twins. Even without the full maturity of the programmable world, these platforms provide significant operational and competitive advantages to companies today. Over time, digital twins will become the engine for every enterprise’s programmable world strategy, letting them invent products, design experiences, and run their businesses in ways that would once have been unimaginable.
  • Innovate in the right areas. Start by looking at where purely digital or purely physical experiences have yet to excel. For instance, apparel shopping comes with major pain points both in person and online (e.g., limited selections and wait times in store vs. difficulty finding the right size/style online). Virtual dressing rooms using AR filters and 3D avatars are a perfect solution, enabling online customers can try on items before they buy. Similarly, physical dressing rooms can be enhanced with improved lighting and interactive screens, so shoppers can get more out of trips to the store.
  • Explore future materials technologies. Partnerships with start-ups and universities are a good way to stay right at the forefront of real-world technology innovation. For instance, a team of researchers at MIT’s Center for Bits and Atoms published their work around four new material subunits called voxels. Researchers believe voxels could be programmed into certain combinations to create objects that change and respond to the environment around them – like airplane wings that shapeshift in response to different air conditions — and they believe tiny robots could be used to assemble, disassemble, and reassemble the voxels into a nearly limitless variety of objects.

The programmable world promises to be the most disruptive turning point for business and society in decades. Soon, we will live in environments that can physically transform on command and which can be customized and controlled to an unprecedented degree. With these environments, a new arena for innovation and business competition will be born. Businesses that prepare first, will be best positioned to succeed.

IT Leadership & the Strategic CIOAI/Machine Learning
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Open banking makes MENA an oasis of financial opportunities for investors

Mar 24, 2022

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Why and how does open banking make MENA an oasis of financial opportunities for investors? Maddyness answers quite elaborately as follows.

Economic growth in the MENA – Middle East and North Africa – region is on the rise, with Gulf countries leading the charge. The pace of innovation in places such as the UAE and Saudi Arabia is attracting foreign investment at a rapid rate, which, combined with dedicated tech programmes and an increasingly skilled workforce, sees the region stand out on a global front.

Although MENA’s escalating influence is widely known, it’s not necessarily talked about for facilitating financial progress in particular. Nonetheless, that’s about to change. In the past decade, the region has carefully cultivated a fertile soil that’s ready to flower. And it’s starting to blossom thanks to technological advances driving concepts like open banking that have the power to transform our financial future forever.

The UK’s longstanding relationship with MENA

It’s safe to say that the extensive opportunities haven’t gone unnoticed in Britain. Over several decades, the UK has maintained strong business ties and fostered stable relationships with MENA countries. For example, the UK has consistently been one of the largest investors in the global hub city of Dubai. So, with such a strong history, why is now an especially opportune moment to take notice of Middle East fintechs?

The transformation of the financial ecosystems in the region is certainly clear. MENA’s finTech sector is growing rapidly, with a compounded annual growth rate of 30%, paving the way for it to become a leading destination for digital financial activities in the very near future. 

However, there is still plenty of room to maximise MENA’s full financial potential. The great disruptor of open banking (not to mention the even more progressive world of open finance) will be a driving force in attracting British investors to the region.

MENA as an emerging hotspot for investment

Before discussing the opportunity for fintechs, let’s take a step back. Why is there an opportunity in the first place?

The region’s demographics should enthuse any investor looking for innovation. The MENA population is one of the youngest globally, with an estimated 60% of the population under 30. Much of the region’s youth are also motivated to embrace new ways of thinking and leverage digital technologies to improve both their own lives and those of their communities. Internet penetration in MENA is one of the world’s highest. 

Furthermore, the local population has proved willing to adopt digital solutions for their financial needs. According to research by Deloitte in 2020, 82% of customers in the Middle East are eager to start using fintech solutions, which coincides with the rise of a cashless economy.

Savvy entrepreneurs are already stepping up everywhere to capitalise on this market demand. Backed by the financially progressive infrastructure – which provides fintechs with regulatory support and government incentives – the fintech sector in the region has a very high growth rate. The UAE has become a hive of fintech activity – 465 fintechs there are set to generate over $2B in investment capital funding in the upcoming year, compared to merely $80M five years ago. 

Open banking as the game changer

MENA is ready for disruptive innovations, which open banking can plentifully provide. Regulated access for fintechs to use financial data in order to provide solutions to a hungry audience will drive significant and sustainable economic growth. Consumers want more freedom to handle their finances and there is a need for better banking solutions, such as instant access to money and fully digitised payments.

Open banking makes all of this possible and more when banks, fintechs and even telcos work together to improve their products and put the customer in control. Against this backdrop, everyone can benefit if we move quickly to meet demand.

The emergence of a solid regulatory framework

We’re seeing MENA tread in the footsteps of the UK when it comes to regulating open banking. The PSD2 directive, which kicked off the concept in the UK, informs much of MENA’s recent developments in terms of its financial ecosystem. In Europe, the regulatory framework proved successful in levelling access to the financial services market and promoting the role of non-traditional financial institutions. As a result, the framework enhanced competition between financial service providers and provided consumers with better financial tools. 

Similar regulations are shaping the evolution of MENA’s financial landscape, offering security for investors while remaining flexible enough to stay relevant in the face of constant technological development. Although the regulations differ across jurisdictions, making it potentially challenging for fintechs to scale throughout the region, any obstacles are well worth overcoming. 

How to navigate your fintech journey in MENA

Considering the whole picture, MENA should get your attention as a rising star of the global financial scene. It is easy to see how becoming part of an emerging, but promising ecosystem yields tangible benefits for investors.

To comply with the regional frameworks and regulations, interested parties should seek local experts who know which paths to travel and how to traverse them. The rise of open banking is already a fundamental factor driving MENA’s financial environment forward, and its growth will only increase. As opportunity knocks, it’s better to be at the front of the queue than at the end of it.  

Justin Henry is executive director at KMMRCE Pay.

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Fintech offers transformative change for financial services

Feb 2, 2022

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Arab News published article by JARMO T. KOTILAINE is an eye-opener on the currently trendy of the ongoing rush towards another type of gold. Digital this time and not good old solid bars. Does Fintech offer transformative change for financial services? Would the MENA Region be the next Fintech hub? Would it be sustainable? Let us find out.

Transformative change for financial services through Fintech

Fintech has become one of the catchwords of our time, shorthand for creative innovation and potentially transformative change in the way financial services are provided. It has spawned a multitude of start-ups and pushed many incumbent financial institutions to review their operating models.

The restrictions on economic activity during COVID-19 further validated and popularized many of these new ideas, as more and more people resorted to home delivery, touchless payments, and other solutions that reduced physical contact.

Technological change proved effective in driving the growth of disruptive innovators, protecting — or even increasing — the margins of banks, and allowing many companies to generate profits at a time when their survival was threatened.

To what extent, though, have we truly unleashed the transformative potential of fintech? Better payment systems and digitalized transactions are important, but ultimately represent the application of digital technology to something that was happening already.

A very different situation occurred in some developing countries where the rise of fintech has become a potent tool for financial inclusion as new providers have levered widely available mobile telecommunications technology to compensate for the shortcomings of formal financial intermediation in a widely accessible, low-cost manner.

Of course, some of this has been seen in the Gulf, in the form, for instance, of new mechanisms for the remittance payments of unbanked laborers.

How could fintech deliver even more? The true promise of technology stems from its ability to lower costs and boost transparency. Meaningful progress in these areas can deliver substantial benefits in terms of increasing access to finance and of doing so more cheaply.

Many countries have now capitalized on open banking to foster more competition among lenders. Technology can be used to allow customers to compare services and products between banks. This is pushing service providers to compete on price and quality.

Technology can also make it easier to structure complex transactions and products which can not only reduce their prices but also helps broaden the range of available solutions.

Digitalization is reducing the cost and time of on-boarding new bank customers. By decentralizing financial service provision, technology is enabling more business ventures and projects to raise capital through novel mechanisms such as crowdfunding.

Transparency is an issue of particular importance and potential. Perhaps the most profound change delivered by digital technology stems from the ease with which data can be collected and analyzed. This matters because informational asymmetries have been among the main factors restricting access to capital.

Central banks have used sometimes cumbersome regulatory and reporting requirements as a way of addressing the problem. Risk managers at banks are often forced to cite limited or unverifiable information as an argument for restricting access to credit or for pushing up their cost.

In principle, technology could be used to obviate some of the tasks currently pursued through regulation and supervision by making it easier to gain access to all the relevant data more accurately and swiftly. It should also make it easier and faster for customers to build reliable credit profiles which could be used to assess their eligibility for different products.

Again, open banking is being used by more and more lenders to access customer data and evaluate their financial history through hard data rather than assumption or generalization on the basis of potentially inaccurate or misleading applications.

Easy access analytics can help customers make more informed and efficient decisions. For instance, more investment platforms now provide access to a wide-range of investment options on a global scale, along with analytics on their performance and risks. They have reduced the costs of trading and dramatically boosted the speed of execution. Such platforms can also be used to build financial literacy, for instance through tools for financial projections or scenarios.

Of course, technology cannot overcome human myopia and wishful thinking. The way forward must be to build ways that properly account for data privacy and security. Today, though, the technological toolkit is more versatile than ever.

Progress is already helping us reimagine financial service provision, but much more is both needed and possible. Virtually every independent assessment of the financial services sector in the Gulf comments on constraints on access to capital, which in turn limit financial inclusion, economic diversification, and business growth.

Making the most of the opportunities presented by technology is thus not only a business opportunity but a chance to drive the economic paradigm shift, whose success, in large part, hinges on financial services. With governments repositioning themselves, the core task of financial institutions, the pooling and efficient allocation of capital, will matter more than ever. Doing it faster, more accurately, and for more customers will be an important driver of success.

• Jarmo Kotilaine is an economist and strategist focusing on the Gulf region. He writes on issues ranging from economic development to changes within the corporate sector.

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