We asked our 2020 intake of Technology Pioneers for their views on how technology will change the world in the next five years.
From quantum computers and 5G in action to managing cancer chronically, here are their predictions for our near-term future.
1. AI-optimized manufacturing
Paper and pencil tracking, luck, significant global travel and opaque supply chains are part of today’s status quo, resulting in large amounts of wasted energy, materials and time. Accelerated in part by the long-term shutdown of international and regional travel by COVID-19, companies that design and build products will rapidly adopt cloud-based technologies to aggregate, intelligently transform, and contextually present product and process data from manufacturing lines throughout their supply chains. By 2025, this ubiquitous stream of data and the intelligent algorithms crunching it will enable manufacturing lines to continuously optimize towards higher levels of output and product quality – reducing overall waste in manufacturing by up to 50%. As a result, we will enjoy higher quality products, produced faster, at lower cost to our pocketbooks and the environment.
In 2025, carbon footprints will be viewed as socially unacceptable, much like drink driving is today. The COVID-19 pandemic will have focused the public’s attention on the need to take action to deal with threats to our way of life, our health and our future. Public attention will drive government policy and behavioural changes, with carbon footprints becoming a subject of worldwide scrutiny. Individuals, companies and countries will seek the quickest and most affordable ways to achieve net-zero – the elimination of their carbon footprint. The creation of a sustainable, net-zero future will be built through a far-reaching energy transformation that significantly reduces the world’s carbon emissions, and through the emergence of a massive carbon management industry that captures, utilizes and eliminates carbon dioxide. We’ll see a diversity of new technologies aimed at both reducing and removing the world’s emissions – unleashing a wave of innovation to compare with the industrial and digital Revolutions of the past.
By 2025, quantum computing will have outgrown its infancy, and a first generation of commercial devices will be able tackle meaningful, real-world problems. One major application of this new kind of computer will be the simulation of complex chemical reactions, a powerful tool that opens up new avenues in drug development. Quantum chemistry calculations will also aid the design of novel materials with desired properties, for instance better catalysts for the automotive industry that curb emissions and help fight climate change. Right now, the development of pharmaceuticals and performance materials relies massively on trial and error, which means it is an iterative, time-consuming and terribly expensive process. Quantum computers may soon be able to change this. They will significantly shorten product development cycles and reduce the costs for R&D.
4. Healthcare paradigm shift to prevention through diet
By 2025, healthcare systems will adopt more preventative health approaches based on the developing science behind the health benefits of plant-rich, nutrient-dense diets. This trend will be enabled by AI-powered and systems biology-based technology that exponentially grows our knowledge of the role of specific dietary phytonutrients in specific human health and functional outcomes. After the pandemic of 2020, consumers will be more aware of the importance of their underlying health and will increasingly demand healthier food to help support their natural defences. Armed with a much deeper understanding of nutrition, the global food industry can respond by offering a broader range of product options to support optimal health outcomes. The healthcare industry can respond by promoting earth’s plant intelligence for more resilient lives and to incentivize people to take care of themselves in an effort to reduce unsustainable costs.
5. 5G will enhance the global economy and save lives
Overnight, we’ve experienced a sharp increase in delivery services with a need for “day-of” goods from providers like Amazon and Instacart – but it has been limited. With 5G networks in place, tied directly into autonomous bots, goods would be delivered safely within hours.
Wifi can’t scale to meet higher capacity demands. Sheltering-in-place has moved businesses and classrooms to video conferencing, highlighting poor-quality networks. Low latency 5G networks would resolve this lack of network reliability and even allow for more high-capacity services like telehealth, telesurgery and ER services. Businesses can offset the high cost of mobility with economy-boosting activities including smart factories, real-time monitoring, and content-intensive, real-time edge-compute services. 5G private networks make this possible and changes the mobile services economy.
The roll-out of 5G creates markets that we only imagine – like self-driving bots, along with a mobility-as-a-service economy – and others we can’t imagine, enabling next generations to invent thriving markets and prosperous causes.
Technology drives data, data catalyzes knowledge, and knowledge enables empowerment. In tomorrow’s world, cancer will be managed like any chronic health condition —we will be able to precisely identify what we may be facing and be empowered to overcome it.
In other words, a new normal will emerge in how we can manage cancer. We will see more early and proactive screening with improved diagnostics innovation, such as in better genome sequencing technology or in liquid biopsy, that promises higher ease of testing, higher accuracy and ideally at an affordable cost. Early detection and intervention in common cancer types will not only save lives but reduce the financial and emotional burden of late discovery.
We will also see a revolution in treatment propelled by technology. Gene editing and immunotherapy that bring fewer side effects will have made greater headway. With advances in early screening and treatment going hand in hand, cancer will no longer be the cursed ‘C’ word that inspires such fear among people.
Historically, robotics has turned around many industries, while a few select sectors – such as grocery retail – have remained largely untouched . With the use of a new robotics application called ‘microfulfillment’, Grocery retailing will no longer look the same. The use of robotics downstream at a ‘hyper local’ level (as opposed to the traditional upstream application in the supply chain) will disrupt this 100-year-old, $5 trillion industry and all its stakeholders will experience significant change. Retailers will operate at a higher order of magnitude on productivity, which will in turn result in positive and enticing returns in the online grocery business (unheard of at the moment). This technology also unlocks broader access to food and a better customer proposition to consumers at large: speed, product availability and cost. Microfulfillment centers are located in existing (and typically less productive) real estate at the store level and can operate 5-10% more cheaply than a brick and mortar store. We predict that value will be equally captured by retailers and consumers as online.
One thing the current pandemic has shown us is how important technology is for maintaining and facilitating communication – not simply for work purposes, but for building real emotional connections. In the next few years we can expect to see this progress accelerate, with AI technology built to connect people at a human level and drive them closer to each other, even when physically they’re apart. The line between physical space and virtual will forever be blurred. We’ll start to see capabilities for global events – from SXSW to the Glastonbury Festival – to provide fully digitalized alternatives, beyond simple live streaming into full experiences. However, it’s not as simple as just providing these services – data privacy will have to be prioritised in order to create confidence among consumers. At the beginning of the COVID-19 pandemic we saw a lot in the news about concerns over the security of video conferencing companies. These concerns aren’t going anywhere and as digital connectivity increases, brands simply can’t afford to give users anything less than full transparency and control over their data.
9. Putting individuals – not institutions – at the heart of healthcare
By 2025, the lines separating culture, information technology and health will be blurred. Engineering biology, machine learning and the sharing economy will establish a framework for decentralising the healthcare continuum, moving it from institutions to the individual. Propelling this forward are advances in artificial intelligence and new supply chain delivery mechanisms, which require the real-time biological data that engineering biology will deliver as simple, low-cost diagnostic tests to individuals in every corner of the globe. As a result, morbidity, mortality and costs will decrease in acute conditions, such as infectious diseases, because only the most severe cases will need additional care. Fewer infected people will leave their homes, dramatically altering disease epidemiology while decreasing the burden on healthcare systems. A corresponding decrease in costs and increase in the quality of care follows, as inexpensive diagnostics move expenses and power to the individual, simultaneously increasing the cost-efficiency of care. Inextricable links between health, socio-economic status and quality of life will begin to loosen, and tensions that exist by equating health with access to healthcare institutions will dissipate. From daily care to pandemics, these converging technologies will alter economic and social factors to relieve many pressures on the global human condition.
Construction will become a synchronized sequence of manufacturing processes, delivering control, change and production at scale. It will be a safer, faster and more cost-effective way to build the homes, offices, factories and other structures we need to thrive in cities and beyond. As rich datasets are created across the construction industry through the internet of things, AI and image capture, to name a few, this vision is already coming to life. Using data to deeply understand industry processes is profoundly enhancing the ability of field professionals to trust their instincts in real-time decision making, enabling learning and progress while gaining trust and adoption.
Actionable data sheds light where we could not see before, empowering leaders to manage projects proactively rather than reactively. Precision in planning and execution enables construction professionals to control the environment, instead of it controlling them, and creates repeatable processes that are easier to control, automate, and teach.
That’s the future of construction. And it’s already begun.
11. Gigaton-scale CO2 removal will help to reverse climate change
A scale up of negative emission technologies, such as carbon dioxide removal, will remove climate-relevant amounts of CO2 from the air. This will be necessary in order to limit global warming to 1.5°C. While humanity will do everything possible to stop emitting more carbon into the atmosphere, it will also do everything it can in order to remove historic CO2 from the air permanently. By becoming widely accessible, the demand for CO2 removal will increase and costs will fall. CO2 removal will be scaled up to the gigaton-level, and will become the responsible option for removing unavoidable emissions from the air. It will empower individuals to have a direct and climate-positive impact on the level of CO2 in the atmosphere. It will ultimately help to prevent global warming from reaching dangerous levels and give humanity the potential to reverse climate change.
Jan Wurzbacher, Co-Founder and co-CEO of Climeworks
12. A new era in medicine
Medicine has always been on a quest to gather more knowledge and understanding of human biology for better clinical decision-making. AI is that new tool that will enable us to extract more insights at an unprecedented level from all the medical ‘big data’ that has never really been fully taken advantage of in the past. It will shift the world of medicine and how it is practiced.
Improvements in AI will finally put access to wealth creation within reach of the masses. Financial advisors, who are knowledge workers, have been the mainstay of wealth management: using customized strategies to grow a small nest egg into a larger one. Since knowledge workers are expensive, access to wealth management has often meant you already need to be wealthy to preserve and grow your wealth. As a result, historically, wealth management has been out of reach of those who needed it most. Artificial intelligence is improving at such a speed that the strategies employed by these financial advisors will be accessible via technology, and therefore affordable for the masses. Just like you don’t need to know how near-field communication works to use ApplePay, tens of millions of people won’t have to know modern portfolio theory to be able to have their money work for them.
14. A clean energy revolution supported by digital twins
Over the next five years, the energy transition will reach a tipping point. The cost of new-build renewable energy will be lower than the marginal cost of fossil fuels. A global innovation ecosystem will have provided an environment in which problems can be addressed collectively, and allowed for the deployment of innovation to be scaled rapidly. As a result, we will have seen an astounding increase in offshore wind capacity. We will have achieved this through an unwavering commitment to digitalization, which will have gathered a pace that aligns with Moore’s law to mirror solar’s innovation curve. The rapid development of digital twins – virtual replicas of physical devices – will support a systems-level transformation of the energy sector. The scientific machine learning that combines physics-based models with big data will lead to leaner designs, lower operating costs and ultimately clean, affordable energy for all. The ability to monitor structural health in real-time and fix things before they break will result in safer, more resilient infrastructure and everything from wind farms to bridges and unmanned aerial vehicles being protected by a real-time digital twin.
15. Understanding the microscopic secrets hidden on surfaces
Every surface on Earth carries hidden information that will prove essential for avoiding pandemic-related crises, both now and in the future. The built environment, where humans spend 90% of their lives, is laden with naturally occurring microbiomes comprised of bacterial, fungal and viral ecosystems. Technology that accelerates our ability to rapidly sample, digitalize and interpret microbiome data will transform our understanding of how pathogens spread. Exposing this invisible microbiome data layer will identify genetic signatures that can predict when and where people and groups are shedding pathogens, which surfaces and environments present the highest transmission risk, and how these risks are impacted by our actions and change over time. We are just scratching the surface of what microbiome data insights offer and will see this accelerate over the next five years. These insights will not only help us avoid and respond to pandemics, but will influence how we design, operate and clean environments like buildings, cars, subways and planes, in addition to how we support economic activity without sacrificing public health.
16. Machine learning and AI expedite decarbonization in carbon-heavy industries
Over the next five years, carbon-heavy industries will use machine learning and AI technology to dramatically reduce their carbon footprint. Traditionally, industries like manufacturing and oil and gas have been slow to implement decarbonization efforts as they struggle to maintain productivity and profitability while doing so. However, climate change, as well as regulatory pressure and market volatility, are pushing these industries to adjust. For example, oil and gas and industrial manufacturing organizations are feeling the pinch of regulators, who want them to significantly reduce CO2 emissions within the next few years. Technology-enabled initiatives were vital to boosting decarbonizing efforts in sectors like transportation and buildings – and heavy industries will follow a similar approach. Indeed, as a result of increasing digital transformation, carbon-heavy sectors will be able to utilize advanced technologies, like AI and machine learning, using real-time, high-fidelity data from billions of connected devices to efficiently and proactively reduce harmful emissions and decrease carbon footprints.
Despite the accelerating regulatory environments we’ve seen surface in recent years, we are now just seeing the tip of the privacy iceberg, both from a regulatory and consumer standpoint. Five years from now, privacy and data-centric security will have reached commodity status – and the ability for consumers to protect and control sensitive data assets will be viewed as the rule rather than the exception. As awareness and understanding continue to build, so will the prevalence of privacy preserving and enhancing capabilities, namely privacy-enhancing technologies (PET). By 2025, PET as a technology category will become mainstream. They will be a foundational element of enterprise privacy and security strategies rather than an added-on component integrated only meet a minimum compliance threshold. While the world will still lack a global privacy standard, organizations will embrace a data-centric approach to security that provides the flexibility necessary to adapt to regional regulations and consumer expectations. These efforts will be led by cross-functional teams representing the data, privacy and security interests within an organization.
How will technology change the world in the next five years?
It is very exciting to see the pace and transformative potential of today’s innovative technologies being applied to solve the world’s most pressing problems, such as feeding a global and growing population; improving access to and quality of healthcare; and significantly reducing carbon emissions to arrest the negative effects of climate change. The next five years will see profound improvements in addressing these challenges as entrepreneurs, the investment community and the world’s largest enterprise R&D organizations focus on developing and deploying solutions that will deliver tangible results.
While the COVID-19 pandemic has provided a difficult lesson in just how susceptible our world is today to human and economic turmoil, it has also – perhaps for the first time in history – necessitated global collaboration, data transparency and speed at the highest levels of government in order to minimize an immediate threat to human life. History will be our judge, but despite the heroic resolve and resiliency on a country by country basis, as a world we have underperformed. As a global community and through platforms like the World Economic Forum, we must continue to bring visibility to these issues while recognizing and supporting the opportunities for technology and innovation that can best and most rapidly address them.
For many publishers in the Middle East region, Nabd – the largest personalized Arabic news aggregator – has become the number one source of referrals to their portals, exceeding Social Media networks, as a traffic source.
“In BBC Arabic, we consider our partnership with Nabd to be the most valuable and important of all our digital partnerships. This reflects the growing importance of news aggregators and the position of Nabd as a market leader. Our partnership with Nabd has enabled us to widen our reach and gain a new perspective of our audience needs”, says Mohamed Yehia, Head of daily output at BBC.
In its efforts to support its partners, the local, regional and international publishers, Nabd has launched a dedicated portal for publishers, enabling them to obtain and analyze detailed insights about their content, engagement, and users in Nabd.
“NABD is one of the top sources of traffic for RT Arabic. During the last 3 months NABD replaced Twitter as the second-best source of traffic from social media to the website”, says Maya Manna, Editor-in-Chief at RT Arabic.
Today, Nabd is considered by over 1,000 premium Arabic publishers, as a corner stone in their content distribution strategy, since it enables them to reach and tap into a massive audience, and continuously engage with them.
“We extremely value and enjoy our strategic partnerships with publisher partners. Such partnerships have empowered us to achieve our mission of supporting quality journalism in our region, and delivering relevant premium Arabic content for the Arabic audience globally”, says Mazen Singer, Chief Strategy Officer at Nabd.
Nabd is a Personalized Arabic Content Reader, enabling Arab users across the globe to stay up-to-date with their favorite topics on the go. Today, Nabd reaches over 20 million users, generating over 1.6 billion page views every quarter, making it the biggest Arabic app globally. It is currently available for iPhone, iPad, and Android devices.
The UK Labour Party is promising to provide free broadband internet to every British household by 2030 if it wins the 2019 election. To do this, the party would nationalise the broadband infrastructure business of BT and tax internet giants like Google and Facebook. Whatever you think of this plan, it at least reflects that the internet has become not only an essential utility for conducting daily life, but also crucial for exercising our political rights.
In fact, I recently published research that shows why internet access should be considered a human right and a universal entitlement. And for that reason, it ought to be provided free to those who can’t afford it, not just in the UK, but around the world.
Internet access is today necessary for leading a minimally decent life, which doesn’t just mean survival but rather includes political rights that allow us to influence the rules that shape our lives and hold authorities accountable. That is why rights such as free speech, free association, and free information are among the central rights included in the UN’s Universal Declaration of Human Rights. And, crucially, everyone needs to have roughly equal opportunities to exercise their political rights.
Before the internet, most people in democracies had roughly equal opportunities to exercise their political rights. They could vote, write to newspapers or their political representative, attend public meetings and join organisations.
But when some people gained internet access, their opportunities to exercise political rights became much greater compared to those without the internet. They could publish their views online for potentially millions of people to see, join forces with other people without having to physically attend regular meetings, and obtain a wealth of previously inaccessible political information.
Today, a large proportion of our political debates take place online, so in some ways our political rights can only be exercised via the internet. This means internet access is required for people to have roughly equal opportunities to make use of their political freedoms, and why we should recognise internet access as a human right.
As a human right, internet access should be “free” in two ways. First, it should be unmonitored, uncensored, and uninterrupted – as the UN’s General Assembly has demanded in a non-binding resolution in 2016. Second, governments should guarantee a minimally decent infrastructure that is available to all citizens no matter how much money they have. This means funding for internet access should be part of minimum welfare benefits, provided without charge to those who can’t afford to pay for it, just like legal counsel. (This is already the case in Germany.)
A political goal
In developing countries, digital infrastructure reaching everyone might be too expensive to guarantee immediately. But with the required technology becoming cheaper (more people on the planet have access to a web-capable phone than have access to clean water and a toilet), universal access could first be guaranteed via free wifi in public places. Supply can start off in a basic way and grow over time.
Should everyone in Britain have free broadband in their homes? There are many good reasons to provide the best possible internet access to everyone, such as increasing economic productivity, sharing prosperity more evenly across the country, or promoting opportunities for social engagement and civic participation. And, as such, free broadband for all may be a worthy political goal.
But what is most important is ensuring that everyone has the kind of internet access required for roughly equal opportunities to use their political freedoms. Guaranteed internet access should be considered a human right in our virtual world, whoever ultimately pays the bills.
EF Education First (EF): MENA Countries Ranked for English Proficiency by Global Index of 100 Countries shows clearly that the ranking of each country has if only culturally, little to do with, as it were, its specific historical track record. The top ten middle eastern countries are as follow.
RIYADH, Saudi Arabia, Nov. 12, 2019 / PRNewswire/ — EF Education First released the ninth annual edition of its EF English Proficiency Index (EF EPI), analyzing data from 2.3 million non-native English speakers in 100 countries and regions, including Saudi Arabia, Egypt, the UAE, and other Arab countries. The Netherlands topped this year’s index, placing Sweden, last year’s top-scorer, in the second position.
In the MENA region, Bahrain scored the highest. However, the region has continued to lag behind the other regions of the world. The index has also found that in the MENA region, young adults have a somewhat similar English proficiency level as adults over 40 years of age. This suggests that English instruction in the region’s schools has not been evolving over the years. The results have also shown a great convergence in the levels of proficiency among adults in the region, with only 9 scores separating Bahrain, MENA’s best achiever, from the weakest performing country, Libya.
The EF EPI has shown a direct relationship between the average per capita income and standard of living in a country, and the average proficiency in the English language among its adults. Moreover, with exports accounting for nearly 20 per cent of world trade output, adopting English as a language of communication will further reduce costs for businesses and governments. These findings indicate the potential returns of investing in English instruction to qualify the young human capital in MENA for the major economic transformations that the region is witnessing.
In speaking about Saudi Arabia, EF Education First‘s country manager in the Kingdom, John Bernström, said: “This year’s ranking arrives as Saudi Arabia’s Vision 2030 and its National Transformation Program are in full swing to transform the Kingdom’s economy. As the country invests tremendously in the education and training of its youthful human capital, our report aims to assess how local English language proficiency fits within this frame and what are the best methods to optimize it in the future”.
The EF EPI is based on test scores from the EF Standard English Test (EF SET), the world’s first free standardized English test. The EF SET has been used worldwide by thousands of schools, companies, and governments for large-scale testing.
The EF English Proficiency Index for Schools (EF EPI-s), a companion report to the EF EPI, was also released with the index. The EF EPI-s examines the acquisition of English skills by secondary and tertiary students from 43 countries.
EF Education First is an international education company that focuses on language, academics, and cultural experience. Founded in 1965, EF’s mission is “opening the world through education.” With more than 600 schools and offices in over 50 countries, EF is the Official Language Training Partner for the Tokyo 2020 Olympic and Paralympic Games.
Mark Anthony Karam in an October 21, 2019, article that is a response to his “Does micro-mobility have a place in the GCC?” elaborates on possibilities of moving around obviously the plush urban centres of the GCC. But only during certain times of the year unless a personalised Air Conditioning apparatus is provided with the ‘cyacle’. The image above is credit to The National.ae .
With the rest of the world continues to see the micro-mobility sector enjoy growing success, could we see a similar success in the GCC?
Micro mobility was an ideal solution to the last-mile issue in countries like China or the US
The GCC might not be as ideal for a replicated success
There are several factors today that pose obstacles impeding its growth
Micro mobility, which involves light-weighted means of transportation like electric scooters and bikes for short trips, usually in urban areas, has continued to grow internationally. Countries like China, the United States and many EU nations are finding great success with this novel sector, which builds on many of the concepts of the sharing economy that innovators like Uber brought into the mainstream.
Lime and Bird, US rivals in the sector, reached unicorn status in a handful of years each since their founding. One of the reasons for their sudden success is that they solved the long-standing last-mile issue, capitalizing on a neglected market gap.
The GCC goes mobile Today in the GCC, some are attempting to solve this last-mile problem as well. Earlier this year, Careem announced that it had acquired Abu Dhabi bikeshare startup Cyacle, which would add a micro-mobility offering to their services. Launched in December 2014, Cyacle is a fully-automated docked bike-share service currently operating in Abu Dhabi. Stations run 24-hours a day via an app, a touch screen kiosk and docking system that releases bikes using a ride code or a member key.
At the time, Careem had also announced that it was partnering with Dubai’s Roads and Transport Authority (RTA) to install 350 bike docking stations across the Emirates, where citizens would have access to 3,500 bicycles to bike share.
Another firm, Dubai-based Arnab Mobility, is also providing a similar service.
“Global cities are currently trying to find solutions to the global warming problems mainly caused by fossil fuel vehicles,” Dr. Dheeraj Bhardwaj, Group CEO of Arnab Mobility, tells Gulf News. He ponders an age-old question: “Also, city inhabitants and visitors struggle with first/last mile transportation, congestion and expenses. How efficient is it for a one-ton hulk of metal to take one person two to three miles? Conventional transportation systems are currently insufficient with people dealing daily with traffic, a lack of parking spaces, as well as long walks from bus stops and metro stations.”
Yet, while these solutions offer a service on par with international counterparts, it is important to remember the financial, cultural, and climate situation of the region.
Firstly, it is important to remember that the GCC region is known for its oil-derived wealth, with many nationals owning multiple vehicles and often employing personal drivers to help family members commute. Secondly, travel distances for major outings are already quite short.
“With urbanization on the rise, the majority of trips people take fall within the category of micro-mobility and thus are prime candidates for bike and scooter usage. In the US, for instance, roughly 60% of all trips are 5 miles or less,” CBinsights explains.
One of the reasons micro-mobility solutions are so attractive abroad is because of their perceived value for the service provided. Instead of paying a whopping fee for a taxi get you across 4 city blocks in New York, a US citizen would opt to rent a Lime scooter for a fraction of the cost. In the GCC, with its small-sized nations, large roads and affordable taxi services, this is not yet a problem. The countries in the region, save for Saudi Arabia, are sometimes comparable to entire Western cities in size. Bahrain, for example, has an area of 765.3 km², which is half the size of London (1,572 km²).
Therefore, from a financial and spatial perspective, micro-mobility services might struggle.
Then arises the issue of culture perceptions. While women have been driving for more than a year now in Saudi Arabia for example, breaking gender bias and perception is still an ongoing challenge. The country is certainly moving towards progress, but micro-mobility firms will have to consider this nonetheless. Also, consider that environmental awareness and consideration only just recently began to receive mass attention in the region in the past few years. Getting people to opt for bikes over a more convenient car ride will still prove a struggle.
Finally, and perhaps the most glaring of the issues plaguing micro-mobility companies in the region, is the climate and weather. The GCC is infamous for its scorching desert sun and sweltering heat. While public transportation like the Dubai metro or public buses offer some reprieve from the heat with their AC units, an e-scooter or bike doesn’t. When it’s 50 degrees Celsius outside and you need to just get home after a long day at work, a taxi or Uber, even for the higher fee, will prove the go-to choice. That remains the sector’s greatest obstacle. How it addresses it is still in question.
Mark Anthony Karam has 4 years of experience in the field of visual and written media, having earned his Masters degree from the UK. You can get in touch with him here: email@example.com
With regional governments now set to reduce oil dependency through policy and regulation change, the Industrial Revolution 4.0 and the phenomenon of the Internet of Things (IoT) is now rife among all sectors in the region, added the report from MEED, a leading business intelligence provider.
Organizations are on board to make structural changes through the usage of advanced and innovative technology. But while many of the innovations that promise to shape the region in the coming years are still new, and sometimes experimental, others are widely known, even if not yet in common use.
MEED looks at 10 technologies set to transform the Middle East over the next decade.
Grid-scale batteries to enable energy diversification
Global investment in high-capacity batteries is transforming the market for renewable energy. The large-scale adoption of alternative energy has long been hampered by the unreliable, inflexible nature of its major sources, the wind and sun. The problems caused by intermittent energy production can only be solved by developing effective storage solutions; batteries that can store energy at peak production times for later deployment.
A significant drop in the prices of lithium and vanadium – essential battery components – in addition to improvements in battery efficiency, are enabling large scale adoption of energy storage facilities.
Abu Dhabi’s recent launch of the region’s first Grid-Scale Battery Deployment and the world’s largest Virtual Battery Plant is indicative of the region’s commitment to diversifying its energy supply.
Digital payment – fintech
The initial caution of governments in GCC to digital payments and financial technology (fintech) is beginning to abate and the first online payments were made across the region in 2018, following a series successful trials of the technology that persuaded authorities to relax regulation. With limited access to banking facilities, an estimated 86 per cent of adults in the region (Reuters) do not have a bank account. This, coupled with an increase in the mobile phone capabilities makes the Mena market a real opportunity for fintech investment. Research company Mena Research Partners estimated the fintech market in the Mena region to be worth $2 billion in 2018 and it is expected to reach $2.5 billion by 2022.
There is a growing realisation that complex systems such as oil fields, electricity grids, building sites and entire cities can be managed more effectively if siloed data can be combined on a single platform. New remote sensor technology can provide critical real-time data, allowing managers to make quick, informed decisions and increasingly intelligent software is being developed to automate complex processes. Internet of Things (IoT), which is a convergence of technologies such as remote sensors, machine learning and real-time analytics, is central to the development of these smart, digital ecosystems.
The GCC has been a global frontrunner in the uptake of autonomous driving, with UAE leading the way. The Dubai Future Foundation in partnership with Dubai Roads and Transport Authority (RTA) launched the Dubai Autonomous Transportation Strategy which aims to make 25 per cent of Dubai transportation autonomous by 2030, saving $6 billion annually. The RTA is currently conducting tests to decide the winners of the Dubai World Challenge for Self-Driving Transport, which are focused on the provision of first/last Mile transportation.
5G supporting the new digital ecosystem
In May this year, Emirates Telecommunication Company, Etisalat, launched the region’s first 5G enabled smartphones. The new 5G networks transfer data 20 times faster than 4G, have a bigger capacity, are more reliable. This vital development is needed to support the emerging ecosystem of digital technologies including IoT, smart cities, cloud computing and autonomous vehicles. According to Globaldata, the number of mobile network subscriptions in the Mena region is expected to be 15.8 million by 2023.
Shift away from traditional fuel sources to free up crude oil for higher value products and export sees an increase in demand for alternative energy sources. One of the most promising alternative fuels is hydrogen, which can be produced using solar photovoltaic technology. This will be showcased at Expo 2020 by the use of fuel-cell vehicles that run on hydrogen generated at a solar-driven hydrogen electrolysis facility at Mohammed bin Rashid Solar Park.
Using AI to make the most of VR and AR
Initially gaining popularity through the gaming industry, augmented and virtual reality (AR and VR) are increasingly being used for training, marketing and problem-solving. VR systems can have powerful applications when combined with artificial intelligence (AI). For example, it could be possible to develop a microscope that can highlight cancerous cells or the dashboard of a vehicle that can detect hazards and alert the driver using signals on the dashboard.
Electrification of transport
Electric Vehicles (EVs) potentially are among the most transformative of all emerging technologies, delivering a change as significant as the move from horse-drawn carts and internal combustion engines in the early 2oth century. While electric milk floats and golf buggies have been widely used since the middle of the 20th century, huge leaps forward in battery capacity and materials technology have brought EVs to the edge of becoming mainstream modes of transport.
Their benefits in terms of reducing carbon emissions and energy conservation could be huge. Technical challenges ranging from development of electricity charging infrastructure through to battery capacity and safety capabilities remain to be overcome however before EVs they will become our primary mode of transport.
By 2025, the global 3D printing market is expected account for an annual spend of over $20bn.The Middle East is recognising the potential of additive manufacturing, with Dubai leading the trend with its3D printing strategy, announced in April 2016, which set the ambitious target of all constructing 25 per cent of new buildings using additive manufacturing. The sectors that could see the most benefit from the technology are healthcare – for joints, teeth, medical and training equipment, aerospace, consumer manufacturing and construction.
Food security – Vertical farming and hydroponics
Increasing population, extreme climate conditions and political and economic instability are putting food security in the Middle East high on the political agenda. With the region importing over 50 per cent of its food, governments are looking to boost local production using soil-free methods of farming that are 70 per cent more water efficient than traditional methods and use fewer chemicals. New, vertical farming techniques that require less space can be adopted in urban areas to bring production closer to the consumers.
With these new technological trends disrupting the market, Meed has introduced the third edition of the MEED awards, assessing companies on their initiatives in becoming more technologically advanced. Powered by Parsons (strategic construction partner) and Acwa Power (official power & water partner) the MEED awards is due to close its submission deadlines by the end of this week. – TradeArabia News Service
A new study shows 15m Facebook subscribers in the MENA region; a big increase in Arabic language users. In fact, it was found that not only this platform does help socialise but does also contribute above all to informing on the goings-on in any particular country and/or intercountry affairs.
There are more subscribers to Facebook in the Middle East and North Africa (MENA) than there are copies of newspapers circulated in the region, a new report has said.
The study by Spot On Public Relations said Facebook has more than 15 million users in the region, while the total regional Arabic, English and French newspaper circulation stands at just under 14 million copies.
“Facebook doesn’t write the news, but the new figures show that Facebook’s reach now rivals that of the news press,” said Carrington Malin, managing director of Spot On Public Relations.
“The growth in Arabic language users has been very strong indeed: some 3.5 million Arabic language users began using Facebook during the past year, since the introduction of Arabic support and we can expect millions more Arabic language users to join the platform,” he added.
Five country markets in MENA now account for some 70 percent of Facebook users – Egypt, Morocco, Tunisia, Saudi Arabia and the UAE, the report added.
The study said only 37 percent of Facebook users in the Middle East are female compared with 56 percent in the US and 52 percent in the UK.
Egypt’s 3.5 million Facebook subscribers helped to make North Africa the largest Facebook community in MENA accounting for 7.7 million out of a total of 15 million MENA users.
It added that 33 percent of the UAE’s population uses Facebook and it also now stands as the country’s second most visited website after google.ae, according to websites ranked by Alexa.com.
Some 68 percent of Facebook users in the UAE are over 25 years old, flying in the face of perceptions that social media is a ‘generation Y’ phenomenon.
However, much of Facebook’s growth across the rest of the region has been driven by the under 25s, the report said.
Over 48 percent of Facebook subscribers in Saudi Arabia are under 25 years old, with an equal split between English and Arabic users.
However, about three times the number of Arabic users have joined Facebook in Saudi over the past year, compared with the number of English language users.For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
AMEInfo Staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.
Over 50% of the population are active internet users, a number that is expected to rapidly increase by the year 2030, as per Admitad’s 2nd annual industry report outlining e-commerce trends in Egypt.
Though only 15% of online users in Egypt shop online, the populous is becoming progressively approachable in online communications
The e-commerce market in the MENA Region is expected to reach $28.5 billion by 2022
“Despite the low rate of internet users currently, we are seeing an exponential growth in the e-commerce market in Egypt” – Artem Rudyuk, Head of Admitad MENA
Admitad MENA, a branch of the Global Affiliate Network Admitad, has released its second annual industry report that has comprehensively researched the increasing growth of e-commerce and online users across Egypt. Although the internet is only used by half the population of Egypt, it is still developing at an exponential rate. In fact, by the number of users alone, Egypt ranks first in the whole MENA region. By the year 2030, the growth of e-commerce in the country is expected to be remarkable – the road map includes improved Internet Networks (5G) and the opening of more than 4000 post offices for logistical convenience to aid this active development.
In a recent report by PHD Egypt, Nour Saleh evidently notes how the Egyptian government is getting involved at all levels to increase awareness of the vast opportunities that digitization can bring to the country overall. As Egypt ventures the translation of their public sector and economy towards a digital platform, the availability of data is voluminous. The country is making prominent efforts to simplify mundane tasks and provide a smooth pathway into a digital era, including encouraging businesses to equip this transformation.
An analysis by Bain & Company estimates that the e-commerce market in the MENA Region is expected to reach $28.5 billion by 2022. As this industry continues to rise, even the small pool of internet users in Egypt is impressively active. Today, a vast majority of Egyptian people rely on social media communities, Facebook being at the top to search for information on goods and where they can find the best deals. Though only 15% of online users in Egypt shop online, the populous is becoming progressively approachable in online communications and are therefore being profoundly influenced by recommendations. Through this conscious endeavour, Egypt is proving that today is the best time to be in the e-commerce market in the MENA Region and advertisers need to start getting ready for an era of digitization.
“Despite the low rate of internet users currently, we are seeing an exponential growth in the e-commerce market in Egypt. As governments get involved and aim to simplify these processes through the addition of updated logistics and easy bank processes, we are already seeing a rise in advertisers penetrating the Egyptian market and expect to see this continue. There is no doubt that more advertisers in Egypt will start to embrace digital transformation very soon and we are seeing many of them jump onto the bandwagon already!” – Artem Rudyuk, Head of Admitad MENA
Entrepreneur Middle East‘s Education Tech published this fantastic story on May 14, 2019, on a certain Hadi Partovi who “Having built (and funded) great startups, this entrepreneur and investor opens up on his mission to teach kids how to code.“
Sitting in a corner of The Third Line Gallery in Dubai’s arts district of Al Serkal Avenue, Hadi Partovi, a tech entrepreneur and angel investor known for his early bets on Facebook, Dropbox, Airbnb, and Uber, is quietly tapping away on his laptop prior to an invite-only fireside chat organized by VentureSouq, a Dubai-based early-stage equity funding platform.
He is here, wearing his signature baseball cap, to present Code.org, a Seattle-based education non-profit dedicated to expanding access to computer science in schools around the world, of which he is the founder and CEO. The main reason for founding this global social-impact initiative is his belief that mastering computer science is no less than a life-giving skill.
Sonia Weymuller, Founding Partner of VentureSouq, introducing Hadi Partovi at a VSQ Talks event at The Third Line Gallery in Dubai.
Yet, before we expand on that, I decide to focus on his approach to investing in early-stage tech startups, knowing that I will hear something different from a phrase that gets thrown around by every startup investor out there: “I invest in people, not ideas.” Partovi also has a people-first investment philosophy; however, not only can he specifically point out to what “investing in people” actually means for him, but he can even measure it.
The Partovi twins, Hadi and his brother Ali, currently the founder and CEO of Neo, a community of young engineers and the world’s top programmers, were jointly investing in startup founders for 17 years (since 2018, they have decided to focus on individual investments), but only in those who passed their coding test. It started with the founders of Dropbox, Partovi explains. “The best tech companies don’t hire a single technical person without putting them through a lot of tests, so why would an investor consider giving hundreds of thousands of dollars without even one test to show that they can do something?” he says. “Most VCs don’t do this because they themselves don’t know the technology, so they just think whether they like the idea or not, and they just take it for granted that a person can do it. If you look at the companies that have succeeded, the idea often isn’t unique, it’s the execution.” He points out that Google was not the first search engine company, Facebook was not the first social networking platform, and Microsoft was not the first company building an operating system- but what set all three of them apart was having the strongest engineers on board.
The Partovi brothers know this from their own entrepreneurial experience. Partovi may come across as being humble, quiet, and almost reticent, but he is a man who was part of the team that founded and sold Tellme Networks, a voice recognition software developer, to Microsoft for US$800 million in 2007. A decade earlier, in 1998, Ali Partovi was a co-founder of LinkExchange, an internet advertising company, that also got acquired by Microsoft for $265 million. The brothers’ website has a page listing their 34 ongoing investments, which include Airbnb, Classpass, and Uber, and 23 successful exits: Dropbox (IPO), Facebook (IPO), and Zappos (acquired by Amazon), to name just a few. If you scroll down this page, you will also find a list of 10 of their unsuccessful investments, and Partovi is open to say that there had been a few bruises before the brothers developed their investment muscle. “I did invest in a bad idea when I liked the person, but if I look at all my investments, the worst ones were the cases where I liked the idea but I didn’t like the entrepreneur, and also there are investment decisions that I chose not to invest even though I liked the entrepreneur,” he says. “And, I’ve made other mistakes too, such as when one of my college classmates wrote to me in 1998, saying that he had just joined a group of friends from his graduate program to start a company, and he was like, ‘They are the smartest people I know.’ I remember thinking that nobody needs another search engine, and that I wouldn’t invest in this company, that he was just the first employee, and that it was going to be a complete failure. Turned out that the company was Google, and he was their first employee and the Chief Technology Officer. He was also in the top of my class in computer science at Harvard. So, if I could go back and invest in all the best computer scientists I had graduated with, I would have made a lot more money, although I have done well, but I wouldn’t have missed the opportunities like this one.”
A key element of his stressing the importance of the engineering talent is that it was a key factor in how the Partovi brothers came to be where they are today. Born in Tehran, Iran, the twins taught themselves to code on a Commodore 64, which has fueled their passion for programming ever since. The family fled to the US in 1984, following the Iranian Revolution in 1979. Upon earning a master’s degree in computer science from Harvard University, Hadi Partovi rose up the executive ranks at Microsoft, before he went about launching his own startups. And now, he believes that every young person around the world deserves to be propelled forward in life by learning this specific skill. “This is a story about opportunity, and how we can expand who has access to that opportunity, what the jobs of the future will look like, and how we can ensure that everyone gets an opportunity,” Partovi says, on why he advocates computer science training, and why Code.org provides coding curriculum for schools around the country. “In the world of accelerating technological change, the most important thing everybody can learn is how to adapt to new technology. Many schools teach technology, but they teach kids how to use it, whereas we want to teach them how to create technology. And learning to create technology is important, not only because it leads to an opportunity, and not only because of the future of the job market, but because for kids, it’s fun and it teaches them creativity. Creativity is such a natural human desire, something that drives adults, and especially youth, but it doesn’t really exist in the school system.”
Since launching in 2013, Code.org has created the most broadly used curriculum platform for K-12 computer science in the United States. Its computer science classes have reached 30% of American students, while its Hour of Code initiative, a global campaign offering a one-hour introduction to computer science, has reached 10% of students around the world. Furthermore, the Code.org team informs that the nonprofit has more than 100 international partners and supports 63 languages in 180+ countries, with students having created 35 million projects on the platform. Importantly, they also state that 48% of Code.org students are underrepresented minorities. In addition to all of this, Partovi is a firm believer that among the future codingskilled founders tackling the world’s biggest problems, we will see many more women than today. According to a teacher survey by Code.org, 46% of users on the company’s Code.org Studio are female. “There is a misconception that this is for boys not for girls, which is totally not true,” Partovi says. “When girls reach 13 or 14, and if they haven’t tried computer science yet, there are too many other things to do and a pressure to be cool, and that this is not cool for them, because of that social stereotype that this is for boys. So, as a girl, if at 13, you haven’t tried it yet, you have to go against that social stereotype. However, for a boy, the social stereotype is that this is for you, that’s fine. It’s hard to go against the social stereotype for anybody, but it is especially hard for a 13-year-old, when you’ve just started learning how to be secure yourself.” To illustrate, Partovi mentions that Google search results for “software engineers” will mainly show the images of men, whereas the results for “students coding” will show men and women in almost equal numbers.
When it comes to other misconceptions about learning computer science, Partovi mentions the notions people falsely have about its scope and complexity. “I’ve probably made this worse, because of the name of our non-profit, but computer science is more than coding,” he says. “Code.org is about a whole bunch of fields that all are technical, and they are all part of computer science, and I believe that all of them belong in primary and secondary education. Just like you think of science, science has biology and chemistry and physics; you don’t teach just one of them.” Partovi adds, “The other misconception is that this is just for rocket scientists. People imagine that computer science is as hard as calculus, but they don’t realize that six-year-olds can start learning it. If you think about math, first grade math is easy, but 12th grade math could be more difficult, and university math is extra hard. Computer science is the same, the first-grade level of stuff is very easy.”
For all these reasons, Partovi, despite coming across as a quiet man, is ready to make some noise with the recent announcement of the single largest expansion of Code.org’s computer science curriculum. Code.org’s Computer Science (CS) Fundamentals course, geared toward primary school, will be translated into the 10 most widely spoken languages in the non-profit’s database – Chinese (traditional and simplified), French, Italian, Japanese, Korean, Polish, Portuguese, Spanish and Turkish- while it will also offer a new offline version of CS Fundamentals to empower schools in low- and no-bandwidth environments to teach computer science to all students.
Expanding into the MENA region is on Partovi’s agenda too. He says, “There are already 500,000 students and about 20,000 teachers in the Arab world using Codeiorg, despite it, for now, being only in English language and only on internet connected computers, meaning that we haven’t done almost any work to overcome the obstacles in the region, we haven’t properly transitioned into Arabic, we don’t yet support use on disconnected computers, we don’t yet work well on smartphones and tablets. Most of the students are in private schools or international schools, because they are using it in English, but it shows that the interest in what we do is already high.”
Region by region, Partovi hopes to achieve Code.org’s mission of changing the educational system, making computer science a permanent part of school curricula. “The education establishment especially doesn’t recognize that this is a field that is as fundamental as mathematics or science,” Partovi says. “Everybody understands that technology is the future, nobody needs to be explained that, and nobody needs to be explained that there is money in technology, and that it is changing everything. What people don’t realize is that when you start learning the alphabet, you can also simultaneously start learning computer science. Nobody questions why we are teaching math or science, but what they do question is whether they should teach computer science. They are not even asking whether they should also teach computer science.”
However, some of Silicon Valley’s most prominent leaders did not need much persuasion- so far, Code.org has been backed by Amazon, Microsoft, Facebook, the Bill and Melinda Gates Foundation, PricewaterhouseCoopers, Infosys Foundation USA, and many others. Furthermore, Partovi recently helped Pope Francis to write a line of code for an app, during an event organized by the Scholas Occurrentes foundation in Vatican City. “Computer science belongs in primary and secondary schools as a fundamental thing, not just for the students who want to become coders, but for those who want to become lawyers, nurses, farmers, because understanding technology is going to be important,” Partovi concludes. “It’s because building the creativity that computer science teaches will be important, and learning the digital skills that will be required in every career will be important. The biggest obstacle for us is this education administrative mindset. Individual teachers and parents recognize this, but nobody thinks that this should be a part of schools. They want their own child to learn to code, and they don’t think about why schools are not teaching it.”
The most recent manifestation of their widespread use could be assessed as resulting in amongst many things, the calm and easy dethroning of two of North Africa’s long-endured head of states. Their current and discrete assignments appear to be concerned with the complete disposal of the out-dated support systems. One thing is sure in that without these Social Media’s deep penetrations in the region, none of this youthful regeneration could be obtained or at least at such low price.
What is the most popular channel in Saudi Arabia and how many young people still use Facebook? Here are some key facts about one of the most youthful regions on the planet
This article is authored by Damian Radcliffe, the Carolyn S. Chambers professor of journalism at the University of Oregon and Payton Bruni, a journalism student at the University of Oregon’s School of Journalism and Communication, who is also minoring in Arabic Studies.
Since the Arab Spring, there has been increased interest in the role that media, and in particular social media, plays in the region. Our recent report, State of Social Media, Middle East: 2018 explored this topic in depth. Here we outline the implications our research has for journalists.
News consumption for Arab youth is social media-led
“Like their peers in the West, young Arabs today are digital natives,” said Sunil John, founder and CEO of ASDA’A Burson-Marsteller, which produces the annual Arab youth survey.
“Young Arabs are now getting their news first on social media, not television. This year, our survey reveals almost two thirds (63 per cent) of young Arabs say they look first to Facebook and Twitter for news. Three years ago, that was just a quarter.”
According to Arabian Business, content creators with more than 10,000 YouTube subscribers enjoy “free access to audio, visual and editing equipment, as well as training programmes, workshops and courses. Those with more than 1,000 subscribers will have access to workshops and events hosted at the space.”
In most countries, Facebook has yet to falter
The social network now has 164 million active monthly users in the Arab world. This is up from 56 million Facebook users just five years earlier.
Interestingly, in contrast to many other markets, 61 per cent of Arab youth say they use Facebook more frequently than a year ago, suggesting the network is still growing.
Egypt, the most populous nation in the region with a population of over 100 million, remains the biggest national market for Facebook in the region, with 24 million daily users and nearly 37 million monthly mobile users.
Saudi Arabia is a social media pioneer
“In 2018, YouTube upstaged long-time leader Facebook to become the most popular social media platform in Saudi Arabia,” reported Global Media Insight, a Dubai based digital interactive agency.
Data shared by the agency showed YouTube has 23.62 million active users, in the country, with Facebook coming in second with 21.95 million users.
Alongside this, although there are about 12 million daily users of Snapchat in the Gulf region (an area comprising Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman) a staggering 9 million of these are in Saudi Arabia (compared to 1 million in UAE).
A complicated relationship with platforms
Despite YouTube’s wide popularity in the MENA region, the company faced some pushback in the past year, after the network was accused of removing online evidence of Syrian chemical attacks.
Meanwhile, YouTube suspended accounts belonging to Syria’s public international news organisation (SANA,) the Ministry of Defence, and the Syrian Presidency “after a report claimed the channels were violating US sanctions and generating revenue from ads,” Al Jazeera reported.
More generally, social networks have a complicated relationship with the region, with service blocks, or the banning of certain features (such as video calling) being relatively common place, and both news organisations and individuals, can fall foul of greater levels of government oversight.
Derogatory posts have resulted in deportations of residents from UAE, while in 2018, the Egyptian government passed legislation categorising social media accounts with more than 5,000 followers as media outlets, thereby exposing them to monitoring by the authorities.
To find out more, download the full study State of Social Media, Middle East: 2018 from the University of Oregon Scholars’ Bank, or view it online via Scribd, SlideShare, ResearchGate and Academia.Edu.
I can still recall my surprise when a book by evolutionary biologist Peter Lawrence entitled “The making of a fly” came to be priced on Amazon at $23,698,655.93 (plus $3.99 shipping). While my colleagues around the world must have become rather depressed that an academic book could achieve such a feat, the steep price was actually the result of algorithms feeding off each other and spiralling out of control. It turns out, it wasn’t just sales staff being creative: algorithms were calling the shots.
This eye-catching example was spotted and corrected. But what if such algorithmic interference happens all the time, including in ways we don’t even notice? If our reality is becoming increasingly constructed by algorithms, where does this leave us humans?
Inspired by such examples, my colleague Prof Allen Lee and I recently set out to explore the deeper effects of algorithmic technology in a paper in the Journal of the Association for Information Systems. Our exploration led us to the conclusion that, over time, the roles of information technology and humans have been reversed. In the past, we humans used technology as a tool. Now, technology has advanced to the point where it is using and even controlling us.
We humans are not merely cut off from the decisions that machines are making for us but deeply affected by them in unpredictable ways. Instead of being central to the system of decisions that affects us, we are cast out in to its environment. We have progressively restricted our own decision-making capacity and allowed algorithms to take over. We have become artificial humans, or human artefacts, that are created, shaped and used by the technology.
Examples abound. In law, legal analysts are gradually being replaced by artificial intelligence, meaning the successful defence or prosecution of a case can rely partly on algorithms. Software has even been allowed to predict future criminals, ultimately controlling human freedom by shaping how parole is denied or granted to prisoners. In this way, the minds of judges are being shaped by decision-making mechanisms they cannot understand because of how complex the process is and how much data it involves.
In the job market, excessive reliance on technology has led some of the world’s biggest companies to filter CVs through software, meaning human recruiters will never even glance at some potential candidates’ details. Not only does this put people’s livelihoods at the mercy of machines, it can also build in hiring biases that the company had no desire to implement, as happened with Amazon.
In news, what’s known as automated sentiment analysis analyses positive and negative opinions about companies based on different web sources. In turn, these are being used by trading algorithms that make automated financial decisions, without humans having to actually read the news.
In fact, algorithms operating without human intervention now play a significant role in financial markets. For example, 85% of all trading in the foreign exchange markets is conducted by algorithms alone. The growing algorithmic arms race to develop ever more complex systems to compete in these markets means huge sums of money are being allocated according to the decisions of machines.
On a small scale, the people and companies that create these algorithms are able to affect what they do and how they do it. But because much of artificial intelligence involves programming software to figure out how to complete a task by itself, we often don’t know exactly what is behind the decision-making. As with all technology, this can lead to unintended consequences that may go far beyond anything the designers ever envisaged.
But the algorithms that amplified the initial problems didn’t make a mistake. There wasn’t a bug in the programming. The behaviour emerged from the interaction of millions of algorithmic decisions playing off each other in unpredictable ways, following their own logic in a way that created a downward spiral for the market.
The conditions that made this possible occurred because, over the years, the people running the trading system had come to see human decisions as an obstacle to market efficiency. Back in 1987 when the US stock market fell by 22.61%, some Wall Street brokers simply stopped picking up their phones to avoid receiving their customers’ orders to sell stocks. This started a process that, as author Michael Lewis put it in his book Flash Boys, “has ended with computers entirely replacing the people”.
The financial world has invested millions in superfast cables and microwave communications to shave just milliseconds off the rate at which algorithms can transmit their instructions. When speed is so important, a human being that requires a massive 215 milliseconds to click a button is almost completely redundant. Our only remaining purpose is to reconfigure the algorithms each time the system of technological decisions fails.
As new boundaries are carved between humans and technology, we need to think carefully about where our extreme reliance on software is taking us. As human decisions are substituted by algorithmic ones, and we become tools whose lives are shaped by machines and their unintended consequences, we are setting ourselves up for technological domination. We need to decide, while we still can, what this means for us both as individuals and as a society.
AMEInfo published this Expert opinion on how, on August 28, 2018, the Middle East construction looks bad on paper as narrated by Stephan Degenhart, Managing Director at Drees & Sommer Middle East, a leading European consulting, planning and project management enterprise .
“One of the main causes of poor efficiency in the construction industry is a majority of industry players still depend upon paper documentation, such as supply-chain orders, design drawings and daily progress reports to keep track of current processes and deliverables.”
Without digitization, significant delays can be incurred when sharing information.
Relying on paper trails to share documents increases the risk of data being exposed to human error when being captured and analyzed. It is important this is properly managed as detailed performance analytics can help avoid future issues.
Due to the vast amount of information that is processed throughout the duration of a project and the time it takes for a document to change hands, paper trails are notorious for slowing down and hindering the efficiency of processes. This leads to disagreements between clients, developers, and contractors, highlighting an impending need for digitized project-management and solutions to aid collaboration and mobility. A greater uptake of digitization will lead to project management in the construction industry having increased access to mobile-enabled field supervision, digital project planning, digital budgeting and the efficient management of documents across the entire scope of a project.
Digitisation in project management allows for smoother and more efficient processes on site, resulting in significant time and financial savings. For example, a recent study by the consulting firm, Roland Berger, found construction workers only devote 30% of the time to their principal activity. The remaining 70% is consumed by other errands such as looking for materials, transporting materials to complete a job and cleaning up on-site. Introducing digital tools can help streamline these processes and mitigate the loss of both time and financial resources onsite and throughout the construction process. Materials and equipment can be tracked at the click of a button and manpower allocated where and when they are needed.
Software has been developed to ease processes such as the delivery of building materials to the site, ensuring they arrive precisely when they are needed. Storage needs can be significantly reduced as a result. Smart, connected construction machinery can help optimize the utilization of workers and construction vehicles, ensuring certain jobs are not over-allocated with human or technical resource – another common issue digitization has helped many developers overcome.
To support digitization as a growing trend in modern construction, certain technology has already been developed to help locate products and materials. This enables construction workers to devote more time to their principal activity rather than engaging in time-wasting activities that can cause delays to the entire project. Products fitted with RFID2 technology can be identified using magnetic fields. These products can also be registered and scanned, which creates transparency regarding the whereabouts of machinery and human resources on site.
Recent research by McKinsey & Company found construction is currently one of the Middle East’s least digitized industries. The sector stands to achieve significant benefits by adopting technologies that increase productivity as digital collaboration tools, which could raise productivity by as much as 15% and reduce project costs by up to 45%.
Of course, an important tool being used by many in the digitization of the construction industry is Building Information Modeling (BIM). The main benefits presented by using BIM include: minimized planning errors, timely calculation, quantified extra costs and alternative strategies. BIM also provides a digital simulation of the entire project before the first brick is even laid. Due to rapid technological advances and the rate at which the global construction industry is becoming digitally orientated, the absence of digitization is very likely to result in companies falling far behind their more digitally-inclined competitors. Tools such as BIM include all parties involved in the project, from the initial planning phase of the construction process through to completion. This makes processes and responsibilities transparent and comprehensible for everyone, contributing to the efficient implementation of the entire construction process.
The McKinsey & Company study also found 75% of those companies adopting BIM reported a positive return on their investment. The same report found companies who had adopted BIM reported shorter project life cycles and savings on paperwork and material costs. Given these benefits, a number of governments, including those in Britain, Finland, and Singapore mandate the use of BIM for public infrastructure projects.
As the UAE transitions towards a knowledge-based economy, the construction industry is also evolving, so projects can be executed smarter and more efficiently than ever before. By implementing digital methods in project management, construction companies will be able to gain an edge, boosting productivity and efficiency. Conversely, companies that prefer to stick to older more traditional methods are likely to be overtaken due to lower quality of projects they are able to deliver, as well as the inevitable delays to match the standards set by their competition.
UAE companies that choose to adopt and implement these approaches will have to initiate a major shift in their internal planning, design, procurement and construction processes. Investments will need to be made into automation and an effective supply-chain system to ensure streamlined and on-time transportation of materials to the construction site. Companies that decide to integrate their supply chains will also have to plan for other manufacturing-related investments to stay ahead of the curve.
BIM is already much more than a software: as it changes the way people collaborate and the coordination processes, the digital revolution encompasses so much more than software and programmes. Digitisation means digitally enhancing everything that can be improved or optimized. It is easy to use digital tools to manage people and track customer relationships, but the real challenge is changing the way people work. In order for the Middle East’s construction industry to keep pace with international markets, digitization needs to start from the inside, processes need to be revolutionized step-by-step, people need to be trained and there needs to be a shift in thinking towards a more digitized future. This will pave the way for a more productive, cost-efficient, profitable and technologically-driven regional construction industry.
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