The internet of things (IoT) has been spoken about widely in recent months. It’s a conversation that is being led by technology companies who see its potential, but for people, businesses and governments across the Middle East and the world, it’s important that we demonstrate the disruptive capabilities and advantages it offers.
What we know is that IoT is taking us to a more efficient, more intelligent, happier place – featuring streamlined services and greater control of one’s own time through networked objects (or things).
Recalibrating the notion of dialogue, IoT will allow people to enjoy an exchange with physical things. Imagine the time you’d save if city centre parking spaces could communicate with you in advance of your arrival. Or think of the money you’d save if your washing machine or air-conditioning could respond when energy costs were low.
To take the idea further, IoT is about integrating our hand-held devices with the tasks, services and possessions that directly and indirectly affect our existence.
And like all great innovations, necessity is its driving force. Global population expansion and urbanisation trends are driving solutions that ensure that our cities remain hubs for enterprise and sustainability.
Powered by IoT, the smart city will feature intelligent buildings, roads and public transport systems that are connected to each other and people through sensors. This real-time information exchange will save people time, lessen environmental impact and create value for businesses.
The headquarters of the Abu Dhabi Investment Council features an intelligent outer casing that senses sunlight and responds by blocking direct light. This is a great example of how a smart building can reduce energy consumption.
Another great example is Monaco. The densely populated principality known as much for traffic and congestion as glamour and celebrity, is exploring the full potential of IoT.
Called Monaco 3.0, the pilot project aims to demonstrate – and fully realise – the competitive advantage of a smart city, delivering commercial benefits to businesses and social benefits to citizens. It hopes to offer a blueprint for smart cities and elevate the principality as a model for future urbanisation.
Similarly, Dubai has a great opportunity to demonstrate leadership in this field.
As the UAE continues its journey of reinvention beyond oil to a future defined by knowledge, technology and innovation, its agility and enterprise may prove to be one of the most compelling economic success stories of our time.
The recent Government Summit was further evidence of this transition in action.
Time and again, the leadership of the UAE has emphasised its commitment to investing in human capital – a strategy designed to deliver long-term opportunity, prosperity and security.
IoT is the framework upon which the pledge to introduce smart services, smart cities and a sustainable future can be built.
“In 50 years, when we might have the last barrel of oil, the question is: when it is shipped abroad, will we be sad?” asked Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, during his keynote address at the summit. His response was that if the UAE continues to make smart investments in strategic sectors, that moment will be one of celebration rather than sadness.
Technology investment, network availability and clear vision are key ingredients to the IoT ecosystem that technology experts envision.
And, in what is the UAE’s year of innovation, I am confident the country will continue to make the strides required to realise its smart ambitions.
Volker Bischoff is the general manager and vice president for Robert Bosch in the Middle East
UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Results
6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m
Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).
7.05pm: Maiden (TB) Dh165,000 (D) 1,400m
Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.
7.40pm: Maiden (TB) Dh165,000 (D) 1,600m
Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.
8.15pm: Handicap (TB) Dh190,000 (D) 1,200m
Winner: My Catch, Pat Dobbs, Doug Watson.
8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.
9.25pm: Handicap (TB) Dh190,000 (D) 1,600m
Winner: Golden Goal, Pat Dobbs, Doug Watson.
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KILLING OF QASSEM SULEIMANI
Sanchez's club career
2005-2006: Cobreloa
2006-2011 Udinese
2006-2007 Colo-Colo (on loan)
2007-2008 River Plate (on loan)
2011-2014 Barcelona
2014–Present Arsenal
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
Company profile
Name: The Concept
Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal
Based: Abu Dhabi
Founded: 2017
Number of employees: 7
Sector: Aviation and space industry
Funding: $250,000
Future plans: Looking to raise $1 million investment to boost expansion and develop new products
Honeymoonish
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More from Aya Iskandarani
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
WTL%20SCHEDULE
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Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Company%20Profile
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