Gulf Business Tech - April 2023

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Everything you need to know about ChatGPT-4 and its benefits

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What is the future of NFT-based games?

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Hands-on review: Sony WH-1000XM5 headphones

Cover Story

Mohammed bin Rashid Al Maktoum

A compilation of quotes from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Covering the four main themes of Nation, Leadership, Positivity and Life, this collection of quotes by Sheikh Mohammed defines a major part of his vision and thoughts as a statesman.

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Sony WH-1000XM5 headphone

The fifth generation features improved design and functionality as well as refined sound quality

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Samsung Galaxy A54 5G

The smartphone weighs 202g and features a sleek frame and clean layout

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Freddie N. Colinares freddie@motivate.ae

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POWERING THE FUTURE OF SECURITY

HOW CYBERSECURITY CAN BE A POWERFUL SHIELD AGAINST THREAT ACTORS

WORDS: DIVSHA BHAT

The Gulf Cooperation Council (GCC) countries have been witnessing a rapid digital transformation in recent years, with the widespread adoption of new technologies such as cloud computing, internet of things and artificial intelligence (AI). While this has brought several benefits to businesses and individuals, it has also exposed them to new risks, particularly in the area of cybersecurity. As a result, governments and organisations in the region are focusing on strengthening their cybersecurity defences and developing new strategies to mitigate the risks.

challenge facing organisations is formidable. By bringing together the world’s leading cybersecurity experts and digital trailblazers, Gisec Global paves the way for regional organisations to demystify the complex cyberthreat landscape and unearth real-world solutions from global experts to build cyber-resilient digital businesses.”

RANSOMWARE ATTACKS ON THE RISE

Ransomware attacks are becoming increasingly prevalent, with numerous high-profile incidents occurring in recent years. These attacks involve the malicious encryption of a victim’s data, with the attackers demanding a ransom payment in exchange for the decryption key. The rise of remote work and the increasing reliance on technology has made businesses and individuals more vulnerable to ransomware attacks. Hackers are constantly developing new and more sophisticated techniques for carrying out these attacks, making them more difficult to prevent and mitigate.

BOOSTING CYBER RESILIENCE

One of the key events that reflect the importance of cybersecurity in the region is the Gulf Information Security Expo and Conference (Gisec). The annual event brings together cybersecurity experts, vendors and professionals from around the world to discuss the latest trends and challenges in the field. The event provides a platform for organisations to showcase their products and solutions, and for attendees to network and learn from each other.

The 11th edition of Gisec Global, organised by Dubai World Trade Centre (DWTC) and hosted by the UAE Cybersecurity Council, took place from March 14-16, 2023. The event brought together over 500 cybersecurity firms, 300 InfoSec and cybersecurity experts and 1,000 ethical hackers from around the world. The aim was to explore opportunities and discuss the latest trends and challenges in the field of cybersecurity.

The event saw participation from top technology companies such as Microsoft, Huawei, Honeywell, Cisco and du, among others, who showcased their latest cybersecurity solutions. Additionally, InfoSec companies such as Mandiant, Spire Solutions, Pentera, Edgio, Crowdstrike and more were also present.

Trixie LohMirmand, executive vice president of Events Management at DWTC, said: “The cybersecurity

According to the latest Acronis Cyberthreats Report, in the UAE, targeted organisations lost over $1.4m in ransomware, forcing over 40 per cent of them to shut down. The report also noted that breaches reported in Saudi Arabia, for example, could reach an average of $7m. According to security experts, this is driven by factors such as weak credentials, phishing emails, and unpatched vulnerabilities, which remain the top cyberattacking vectors.

Cyber protection experts from Acronis have warned that AI and machine learning technologies could pose

THE EVENT BROUGHT TOGETHER OVER 500 CYBERSECURITY FIRMS 300 INFOSEC AND CYBERSECURITY EXPERTS 1,000 ETHICAL HACKERS FROM AROUND THE WORLD

Dr Madan Oberoi, executive director for Technology and Innovation, Interpol –Singapore

a big risk to digital ecosystems that are not protected as cybercriminals are likely to take advantage of these new tools to increase the e ectiveness of their assault through cra ting harderto-detect attacks

Meanwhile, Ram Narayanan, country manager at Check Point So tware Technologies – Middle East says that in recent years, the UAE has witnessed a substantial rise in cyberthreats, as attackers employ increasingly sophisticated techniques to gain unauthorised access to networks and systems. “Check Point So tware’s latest threat intelligence report reveals that, over the last six months, an organisation in the UAE has faced an average of 1230 attacks per week, while 83 per cent of the malicious files delivered in the UAE over the last 30 days arrived via email. It is therefore essential for organisations to grasp the significance of staying ahead of the curve and protecting their assets from these threats,” he explains.

Furthermore, Huawei said that ransomware attacks share some important key features from a service perspective: “Ransomware spreads quickly, leaving little time for administrators to respond once an attack begins. Microso t found that ransomware can penetrate a system to obtain permissions in just 45 minutes.”

“The number of ransomware variants increased by 98 per cent between 2021 H2 and 2022 H1, making it very di cult to detect and respond to covert and new attacks quickly and effectively,” the company states.

Enterprise businesses feel the impact of ransomware attacks more acutely

than other types of users, as it normally takes a long time to restore services a ter an attack and data o ten cannot be restored at all. This leaves enterprises in urgent need of effective end-to-end protection as traditional ransomware protection solutions simply cannot compete with these challenges.

Cybersecurity firms at the event shed light on how keeping your so tware and operating systems up to date with the latest security patches is one of the best ways to prevent ransomware attacks.

They also noted that it is important to regularly back up the data to an external source and test the backups to ensure that they can be successfully restored in case of an attack. Furthermore, educating employees on how to recognise and avoid phishing emails and suspicious attachments can help to prevent ransomware attacks caused by human error. Additionally, implementing strong access controls and restricting administrative privileges can limit the impact of any potential attacks.

“2023 is a crucial year for chief information security o cers (CISOs) as they face a complex and dynamic threat landscape in addition to developing strategies to manage business-critical initiatives such as securing work-from-anywhere, enabling digital acceleration, staying ahead of increased cyber risk, and supporting sustainability goals. Our aim is to help them address these challenges, provide insight, best practice, and demonstrate how Fortinet can help them stay ahead of the curb,” observes Alain Penel, regional vice presidentMiddle East and Turkey at Fortinet.

COMMUNITY OF ACTION

Meanwhile, top regional and global information security o cers discussed creating a ‘community of action’ and chalked out strategies to help digital businesses in the region build cyberresilience at the Gisec CISO Circle, part of Gisec Global.

Held on day two of the event under the theme of ‘Building a united cyber frontier’, the CISO Circle agreed that collaboration and information sharing within the cybersecurity industry is critical to tackling cybercrime.

Since its launch last year, the CISO Circle has brought together likeminded security experts from diverse sectors to exchange insights on tackling

Gisec Global is a key platform for industry leaders to meet and discuss cybersecurity challenges as we face an increasing number of cyberattacks and see the nature of threats changing due to digital transformation”

MAKING IT VERY DIFFICULT TO DETECT AND RESPOND TO NEW ATTACKS QUICKLY AND EFFECTIVELY

THE NUMBER OF RANSOMWARE VARIANTS INCREASED BY 98 PER CENT BETWEEN 2021 H2 AND 2022 H1

Ram Narayanan, country manager at Check Point Software Technologies

Alain Penel, regional VP - ME and Turkey

cybersecurity challenges and address critical priorities reinforcing business, economic and national security agendas. The panellists at this year’s CISO Circle included Dr Mohamed Al-Kuwaiti, head of the UAE Cybersecurity Council, Dr Aloysius Cheang, CSO, Huawei Middle East and Central Asia and Hadi Anwar, chief cyber defence officer, CPX.

Addressing the CISOs in his keynote speech, Dr Al-Kuwaiti, stressed the importance of collaborations based on the values of trust and transparency to achieve the common goal of building better cyber resilience.

The UAE Cybersecurity Council showcased its National Security Operations Centre (NSOC), with Dr Al-Kuwaiti highlighting its importance, stating: “We cannot control what we cannot measure, and we cannot measure without having that visibility, and the NSOC brings us that visibility.”

GLOBAL POLICE METAVERSE

The popularity of the metaverse has prompted numerous companies to invest in the development of their own metaverse platforms, driving the growth of the industry. At Gisec Global, Dr Madan Oberoi, executive director for Technology and Innovation at Interpol, Singapore, unveiled the first Global Police Metaverse - a virtual platform designed specifically for the global law enforcement community.

“Like all other ever-evolving technologies, the metaverse represents unique opportunities and challenges for law enforcement,” said Dr Oberoi.

“We, therefore, need to understand what harm can occur in or through the metaverse. These include offences that mirror existing criminal threats like crimes against children, harassment, cybercrime, and fraud. At the same time, the metaverse will generate new forms of crime – called meta crimes – such as Darkverse or 3D virtual property crimes or harm to and misuse of avatars.”

HACK-O-SPHERE

Gisec Global hosted the first edition of the Hack-OSphere event which witnessed participation from more than 1,000 ethical hackers in the world. The event also observed the inaugural CyTaka World Cyber Championship, delivered by Israel-based CyTaka in partnership with the UAE Cybersecurity Council and CyberGate.

Meanwhile, hardware hacker, tech wizard and author, Joe ‘Kingpin’ Grand, explained to the audience his hardware hacking mindset and showed live demonstrations of some of the more common hacking techniques.

“Cyberattacks are continuously evolving,” said Grand. “Complex attacks such as fault injections and sidechannel analysis, which were earlier limited to mostly those with knowledge in engineering, are now more common.” Grand added that it is, therefore, important for organisations to have proper mitigations in place to tackle these attacks. “With the knowledge of hardware hacking, organisations can get into the mindset of an attacker and make their products more secure.”

Going ahead, Gisec Global looks forward to continue to play a significant role in bringing together cybersecurity professionals to display latest technology, debate new threats and exchange information and best practices. The conference will also provide a platform for networking and collaboration, helping to advance the field of cybersecurity in the Gulf region and beyond.

GISEC GLOBAL HOSTED THE FIRST EDITION OF THE HACKO-SPHERE EVENT WHICH WITNESSED PARTICIPATION FROM OVER 1,000 ETHICAL HACKERS IN THE WORLD

Dr Mohamed Al-Kuwaiti, head of the UAE Cybersecurity Council

UNLOCKING THE CREATIVE ECONOMY

THE METAVERSE ISN’T JUST A NEW WAY OF SOCIALISING AND CREATING CONTENT

With the rise of new digital assets in recent years, the creative economy has entered a pivotal phase. Independent artists and entrepreneurs that produce digital content – such as podcasts, videos and webinars, distributing them through various online platforms, and operating in the “creator economy” – are fuelling its expansion. Many people have turned what used to be a side hustle into a lucrative career, o ering them the greater flexibility to pursue their passions while maintaining a work-life balance.

The metaverse o ers a natural fit for creators, as it allows them to design their own virtual spaces where their communities can connect, hang out and access the creator directly. One of the most exciting aspects of the metaverse is its ability to transport audiences to incredible virtual spaces where performers can showcase their talents in ways that were previously impossible. The popularity of metaverse concerts featuring names like Travis Scott and Ariana Grande in Fortnite in the

Gary Knight, CEO, WOLF (The World’s Online Festival)

West, and Ragheb Alama and Saad Lamjarred in MetaBoundless in MENA, has begun to show what is possible.

But the metaverse is not just for established artists – it also provides emerging talents with a unique opportunity to hone their skills and get a taste of performing for massive audiences in 3D. The pressure of being judged on their appearance or physical setting is removed, leaving creators free to focus solely on their audio within the immersive 3D environment.

By presenting fresh potential for decentralisation and altering the paradigm of content creation, this technology is set to radically redesign the creative economy. With this level of accessibility and personalisation, creators might indeed become even more powerful, enabling them to monetise their work and engage with their fans in innovative ways.

The metaverse isn’t just a new way of socialising and creating content; it sets up a whole new economy. With the integration of emerging tech concepts such as crypto and decentralised platforms, it provides the groundwork to empower individuals to profit from their work without having to rely on massive tech corporations. This shi t is opening up alternative pathways for creators to earn money and become independent entrepreneurs. In addition, new platforms are emerging, giving performers the freedom to set their own terms for accessing exclusive content and taking a larger share of the profits.

As the popularity of the metaverse grows, it will reshape the creator economy into a multibillion-dollar industry, surpassing its present market size of $104bn, ushering in a new age in content production.

The opportunities for creators in the metaverse include o ering exclusive merchandise and running giveaways during their performances and selling ownership of specific virtual items to fans.

To fully leverage the potential of the metaverse, creators must be skilled in designing captivating spaces or hiring top-notch designers to ensure their virtual environments are eye-catching enough to attract visitors and build a large audience – unless they are able to perform in predesigned environments such as we are building in Wolf VR. The ability to monetise their content is also crucial, and creators can explore innovative ways to reward fans for their loyalty.

Countries such as the UAE and Saudi Arabia are competing to be at the forefront of the metaverse, with cities such as Dubai who have developed their metaverse strategy, in an e ort to become leaders in the

burgeoning metaverse economy. It is crucial for these nations to provide the infrastructure required to sustain the emergence of the metaverse. This involves working with technology platform providers, performers and talent academies to build the necessary building blocks for these new 3D experiences to flourish.

As the groundwork is laid, metaverse companies can leverage these opportunities to establish the Arab countries as hubs for earning a living from the emerging 3D metaverse economy. By employing creators and technologists as sta or freelancers in these territories, these countries can attract talent, generating economic growth as these individuals spend their earnings within the country.

The trajectory of the metaverse over the past year indicates that the short-term future involves consumers obtaining virtual entertainment from a variety of different niche platforms rather than a single, monolithic metaverse environment. Over the next one or two decades, we will likely see the interoperability of consumers being able to jump from one platform to another, taking their avatars, owned digital items and social connections with them with ease. This will require further decentralisation as big businesses learn to share data and revenue to prioritise the user experience, with their own interests coming second to attract fertile ground for growth. The companies that succeed will be those that put their users and customers first, give the talents more say and ownership, and embrace this new mindset.

THE POPULARITY OF METAVERSE CONCERTS FEATURING NAMES LIKE TRAVIS SCOTT AND ARIANA GRANDE IN FORTNITE IN THE WEST, AND RAGHEB ALAMA AND SAAD LAMJARRED IN METABOUNDLESS IN MENA, HAS BEGUN TO SHOW WHAT IS POSSIBLE

The metaverse is not just for established artists – it also provides emerging talents with a unique opportunity to hone their skills and get a taste of performing for massive audiences in 3D. The pressure of being judged on their appearance or physical setting is removed, leaving creators free to focus solely on their audio within the immersive 3D environment”

WHAT IS CHATGPT-4 AND HOW TO USE IT?

HERE’S EVERYTHING YOU NEED TO KNOW

Learning is the process of acquiring knowledge, skills, and understanding through study, experience, or teaching. It is an essential part of human development, allowing individuals to adapt, grow, and succeed in their personal and professional lives. Effective learning involves active engagement, critical thinking, and continuous practice, and it can take place in a variety of settings, including classrooms, workplaces, and informal environments.

Technology refers to the application of scientific knowledge for practical purposes. It encompasses a broad range of tools, techniques, and processes that have revolutionized the way humans live, work, and communicate. From smartphones to artificial intelligence, technology has transformed almost every aspect of our lives, and its impact continues to grow rapidly.

Beauty is a subjective concept that encompasses a wide range of aesthetic qualities. It refers to a sense of pleasure or satisfaction that arises from visual, auditory, or sensory experiences. Beauty can be found in nature, art, music, people, and more, and it often inspires emotions such as joy, awe, and wonder. It is a complex and culturally specific idea that varies across individuals and societies.

It’s been a mere four months since artificial intelligence company OpenAI unleashed ChatGPT and – not to overstate its importance – changed the world forever. In just 15 short weeks, it has sparked doomsday predictions in global job markets, disrupted education systems and drawn millions of users, from big banks to app developers. But now it’s goodbye to ChatGPT and hello ChatGPT-4 –an even more powerful tool, sure to send even bigger ripples across the world. So what is GPT-4, how powerful is it, and how can you use it? Find out more...

Let’s start with the name. The Chat section speaks for itself – a computer interface you can interact with – while GPT-4 is short for “generative pretrained transformer 4.” That means it’s the fourth iteration of the OpenAI so tware that has analysed vast quantities of information from across the internet in order to determine how to generate human-sounding text and give users detailed responses to questions.

How does ChatGPT-4 differ to its predecessor?

Anyone who has researched ChatGPT will know its limitations. It’s been criticised for giving inaccurate answers, showing bias and for bad behaviour – circumventing its own baked-in guardrails to spew out answers it’s not supposed to be able to give.

The argument has been that the bot is only as good as the information it was trained on.

OpenAI says it has spent the past six months making the new so tware safer. It claims ChatGPT-4 is more accurate, creative and collaborative than the previous iteration, ChatGPT-3.5, and “40 per cent more likely” to produce factual responses.

What else can it do?

One of ChatGPT-4’s most dazzling new features is the ability to handle not only words, but pictures too, in what is being called “multimodal” technology. A user will have the ability to submit a picture alongside text – both of which ChatGPT-4 will be able to process and discuss. The ability to input video is also on the horizon.

What are its limitations?

Like its predecessor, ChatGPT-4 isn’t too hot at reasoning on current events, given that it was trained on data that existed before 2021. OpenAI said in a blog post that the latest iteration “still has many known limitations that we are working to address, such as social biases, hallucinations, and adversarial prompts.”

How can I use ChatGPT-4?

Most people can give basic ChatGPT a whirl by signing up with OpenAI, although restrictions apply in some countries and territories around the world. But the newest version is currently only being o ered to ChatGPT Plus subscribers for $20 a month and as an API tool for developers to build into their applications. In the future, you’ll likely find it on Microso t’s search engine, Bing. Currently, if you go to the Bing webpage and hit the “chat” button at the top, you’ll likely be redirected to a page asking you to sign up to a waitlist, with access being rolled out to users gradually.

Who is using ChatGPT-4 right now?

Morgan Stanley is using it to organise wealth management data, payment company Stripe is testing to see whether it can help combat fraud, and language-learning app Duolingo is incorporating it to explain mistakes and to allow users to practice real-world conversation.

ONE OF CHATGPT-4’S MOST DAZZLING NEW FEATURES IS THE ABILITY TO HANDLE NOT ONLY WORDS, BUT PICTURES TOO, IN WHAT IS BEING CALLED “MULTIMODAL” TECHNOLOGY. A USER WILL HAVE THE ABILITY TO SUBMIT A PICTURE ALONGSIDE TEXT – BOTH OF WHICH CHATGPT-4 WILL BE ABLE TO PROCESS AND DISCUSS. THE ABILITY TO INPUT VIDEO IS ALSO ON THE HORIZON

What comes next?

In short, competitors. While Microso t has pledged to pour $10bn into OpenAI, other tech firms are hustling for a piece of the action. Alphabet’s Google has already unleashed its own AI service, called Bard, to testers, while a slew of startups are chasing the AI train. In China, Baidu is about to unveil its own bot, Ernie, while Meituan, Alibaba and a host of smaller names are also joining the fray.

Bloomberg

OPENAI SAYS IT HAS SPENT THE PAST SIX MONTHS MAKING THE NEW SOFTWARE SAFER. IT CLAIMS CHATGPT-4 IS MORE ACCURATE, CREATIVE AND COLLABORATIVE THAN THE PREVIOUS ITERATION

THE LATEST TECH NEWS FROM ACROSS THE WORLD

Startup Character. AI raises $150m and becomes a unicorn

Startup Character.AI, which lets people create their own chatbots, has raised $150m in a funding round led by Andreessen Horowitz, notching a $1bn valuation from investors.

The company’s technology allows users to create chatbots that can assume different personas, from US President Joe Biden to Super Mario. It’s the latest artificial intelligence startup to raise large sums of money, showing investors’ continued interest in the industry.

Meta cuts price of Quest headset up to 33%

Facebook parent Meta Platforms has cut the price of some of its Quest virtual reality headsets, including its high-end mixed reality device, in part because demand has been weaker than anticipated, a person familiar with the matter said.

The Meta Quest Pro, the company’s headset unveiled last fall aimed at corporate users, will cost $1,000, down from $1,500, the company said.

The 256-gigabyte Meta Quest 2, previously listed at $500, will soon cost $430. The price is dropping so that “more people can get into VR,” CEO Mark Zuckerberg posted on his Instagram channel.

GLP-backed fund to raise $100m for Asian fintech deals

A Singapore-based fintech investment firm is close to raising $100m to back finance and blockchain startups in China and Southeast Asia.

BitRock Capital, backed by logistics real estate operator GLP, targets a closing of the new fund by the third quarter, Alfred Shang, its CEO and co-founding partner, said.

It would more than double BitRock’s first fund close from late 2021, and the firm is in discussion with family offices as well as longer-term limited partners, he said.

Vietnam EV maker to ship longer-range SUVs to US in April

VinFast, an electric car maker backed by Vietnam’s richest man, plans to ship its second batch of EVs to North America on April 4.

The company will send 900 VF 8 standard vehicles to California and 900 to Canada, VinFast CEO Le Thi Thu Thuy said in a statement.

VinFast sent 999 VF 8 City Editions – which had shorter range than the upcoming SUVs – to California late last year. The company also plans to ship 700 standard VF 8s to Europe in mid-June, she said.

PwC introduces AI chatbot for 4,000 lawyers to speed up work

PricewaterhouseCoopers (PwC) has introduced a chatbot service for its lawyers, joining the ranks of professional services firms using artificial intelligence to boost productivity.

The project will be delivered through a 12-month partnership with AI startup Harvey, PwC said in a statement. Around 4,000 PwC lawyers in over 100 countries will gain access to the technology. The chatbot is meant to help speed up work from due diligence or regulatory compliance to broader legal advisory and legal consulting services.

South Korea to surpass China in chip machine spending next year

South Korea is forecast to overtake China in spending on advanced chipmaking equipment next year in a sign of US export controls reshaping global supply chains for semiconductors.

Korea will likely increase its investment in fab equipment by 41.5 per cent to $21bn in 2024 while China logs only a 2 per cent increase to $16.6bn, according to data from SEMI, a global semiconductor association based in the US.

- WITH INPUTS FROM BLOOMBERG

HOW TECHNOLOGY IS REDEFINING EMPLOYEE EXPERIENCE IN A HYBRID WORLD?

LOUBNA IMENCHAL OF LOGITECH EXPLAINS…

THE NEW LOGIC DRIVING WORK

The above phrase is a powerful statement that emphasises the impact of video communication tool especially in today’s world where remote work and virtual meetings have become more prevalent. Hybrid work has gained momentum and companies are investing in technology and tools to support this model. Gartner predicts that by the end of 2023, 39 per cent of the global knowledge workers will work hybrid, up from 37 per cent in 2022. However, as the hybrid work model has evolved, the focus has shi ted towards creating a seamless and engaging experience for employees. Companies are now looking at ways to optimise collaboration, communication and productivity, ensuring that employees have the flexibility to work in a way that best suits them.

“We are at present in the most important phase of its evolution – employee experience. Unless the devices and the environment meant to boost and embrace hybrid working does deliver the experience employees need and expect, the e orts will not churn out the desired results,” says Loubna Imenchal, head of Enterprise Business - AMECA at Logitech, a Swiss multinational manufacturer of computer peripherals and so tware.

MODERN APPROACH TO WORK

Industry reports and experts have ascertained the fact that creating an environment that enables employees to work remotely as seamlessly as possible increases productivity and e ciency levels. The Logitech Meeting Equity survey that highlighted trends in the UAE revealed that 55 per cent of white-collar workers would prefer to work either in a hybrid or a fully remote work arrangement. This particular statistic is an eye-opener and organisations should pay heed to it.

“Investing in the workforce means going beyond the upskilling and reskilling agenda. Today, it’s more about providing the workforce with the work experience, be it a remote or hybrid work set-up, that empowers, enables and accelerates their capabilities,” believes Imenchal.

However, many organisations still lack technological knowledge, infrastructure and the know-how to meet employee expectations

WORDS: DIVSHA BHAT

PHOTOS: MARK MATHEW

“A minute of video is worth 1.8 million words”

– Dr James McQuivey, VP and principal analyst at Forrester Research

related to engagement, flexibility and support. As an organisation or an employer, one of their priorities is ensuring employees deliver high performance and driving better collaboration, and team work is critical to achieving the goal. “From this point of view, the biggest challenge is the organisational mindset. Organisations need to view this situation as an opportunity, instead of a hurdle. People have a perception that they can focus on work only in an office. This is an assumption that many organisations share. However, investing in the right technology and the right home office setup can help team members settle into a new work environment smoothly and with ease.”

Imenchal shares example of how webcams and headsets designed for business use can improve video conferencing experience. Additionally, most workspace setup focus on key furniture pieces but neglect devices such as keyboards and mice. “Ergonomic keyboards and mice such as Logitech Ergo K860 Split Keyboard and Lift Vertical Ergonomic Mouse, can help employees maintain a better, more neutral posture by reducing the amount of work your muscles in the forearm and shoulder have to do. This posture allows them to use their computer comfortably for more extended periods of time. With a quantifiable reduction in muscle activity, employees can achieve a greater level of productivity,” she comments.

WORK-LIFE BALANCE: FINDING THE RIGHT MIX

The new approach to work is characterised by flexibility, agility and round-the-clock availability. Although employees can work from anywhere, anytime, this new way of working also brings a set of challenges such as blurring the boundaries between work and personal life. As work continues to evolve, it is important to find ways to navigate these challenges and create a healthy and sustainable work environment.

To address the evolution of work, Logitech has introduced the concept “New Logic of Work”. It is a reflection of their understanding the current work environment. Logitech strives to design technology solutions that cater to the needs of individuals at workplace. Offering personal work and desk setups, team workspace products and solutions that promote equality in the workplace, improved performance and seamless collaboration among colleagues regardless of their location, the company priortises employee satisfaction.

“When comfort increases, both physical and mental wellbeing have a chance to improve, since the mind and body directly affect one another. However, while IT leaders can’t support the mental health of workers directly, they can surely reduce the barriers to getting work done seamlessly and drive an improved employee experience at the same time,” notes Imenchal.

To explain this further, she underlines some insights pertaining to poorly equipped workspaces, which negatively impacts employee focus, productivity, performance, and employee experience, which in turn affects wellbeing.

The Logitech Meeting Equity survey indicated that technical issues are the most significant challenges with hybrid meetings, with connectivity issues (48 per cent) and poor audio quality (42 per cent) ranking amongst the top concerns. Meanwhile,

38 per cent of respondents also shared that not being able to see/hear in-person participants also was an issue they experienced during hybrid meetings. Interpersonal issues such as participants not paying attention (37 per cent), poor video quality (36 per cent), participants being late (32 per cent) and getting talked over by other participants during meetings (31 per cent) were also cited as challenges in hybrid meetings. These factors can make or break effectiveness of meetings and employee engagement.

Therefore, we should not overlook the workplace setup. “Outfitting employees with ergonomic hardware that works while charging, ensuring enterprise-grade wireless connectivity, and selecting softwareempowered tools that streamline a workflow based on the end user’s personal preference all contribute to better work experience and less frustration for employees. We are bridging this gap with our Ergo Lab designs and products which are built to create healthier work solutions that reduce key muscle activity and improve overall posture and comfort. It is a human-centered and science-driven approach to designing, developing, and reinventing tools that help people feel better at work,” she says.

Meanwhile, the Logitech survey also revealed that 51 per cent of respondents who joined a hybrid meeting virtually felt that they had fewer opportunities to build rapport amongst meeting participants.

On the other hand, 58 per cent agreed that their input would be valued more if they were attending the meeting physically instead of virtually, and 47 per cent felt less included as compared to in-person meeting participants.

Keeping these insights in mind, Logitech encourages organisations to follow the three-way policy to ensure a conducive meeting environment that is equitable, to facilitate greater levels of engagement. “Firstly, organisations need to give their

MORE THAN 65 % OF THE MICE AND KEYBOARDS IN LOGITECH’S LARGEST PRODUCT PORTFOLIO ARE NOW MADE WITH RECYCLED PLASTIC

teams the tools they need to succeed. Secondly, the right equipment is only half the solution to deliver a seamless employee experience. Every solution, product or device an organisation invests in, needs to have and illustrate the top three pillars necessary for a successful implementation, which are, ease of use, deployment and management. And finally, accountability and collaboration of managers and top-level management is necessary to empower and enable employees to foster a workplace climate that is equitable.

“Organisations should regularly assess their remote work policies and practices to ensure that they are achieving the desired outcomes and adjust accordingly. This can help to ensure that the company is continuously improving and adapting to the needs of its employees,” explains Imenchal.

STRATEGIES FOR BUSINESSES

Incorporating video conferencing tools into businesses can be a complex and challenging process that requires careful consideration of several aspects. IT will need to become even more agile and responsive to support rapidly evolving business needs. While becoming adept at working remotely themselves, IT sta will likely field many more questions from employees who rely on technology to do their job. To stay ahead of that curve, IT leaders should become proactive about technology deployment and training to support a mix of o ce and remote workers.

Imenchal also states that given the large number of video meetings taking place in an organisation, IT must automate and centralise the management of conference rooms and all the equipment they contain. They should opt for AI-based technologies to enhance user experience and improve meeting e ciency.

“With AI camera control technologies, cameras can now move autonomously and adjust the zoom to create more immersive meeting experiences, ensuring that everyone is included in the picture. Moreover, AI can compensate and manage room lighting, reduce video noise, optimise white balance and fine-tune colour and saturation, making everyone look their best on camera.”

For example, the Logitech Sight, the AI-powered multi-camera system works to intelligently capture the best perspective of meeting participants and track conversations as they move around the conference room. Logitech Sight is the latest in a series of

innovations designed to level the playing field for all workers, regardless of whether they choose to collaborate from the o ce or home.

Moreover, as IT managers are adopting cloud-based so tware to support employees who work remotely, they can leverage Logitech Sync, which enables them to remotely manage their entire video conferencing infrastructure by deploying firmware updates and enabling new features for personal collaboration devices like webcams and meeting rooms. This reduces potential issues before they become trouble tickets and bring productivity to a halt. Sync works across most popular cloud collaboration platforms like Microso t Teams, Zoom and Google Meet.

FUTURE OF WORK

The workplace is constantly changing –hybrid or remote work is here to stay with accelerated shi ts in digital transformation and globalisation.  As a result, the workforce is becoming more dispersed and we will see an increase in on-demand communications to create and maintain strong relationships with customers, partners, suppliers and internal stakeholders.

Video meetings have become the preferred method of communication for many leading organisations, driving rapid adoption of video-based platforms, tools and channels. As this trend continues, Logitech’s wide array of personal workspace solutions and products are here to meet the everyday needs of hybrid and remote workers.

The company is also pushing boundaries to help restore the planet by reducing carbon impact, using renewable energy sources and rethinking the circular economy.

“We consider environmental and social impacts as part of every product design decision, from the moment raw materials are sourced, right through to the end-of-life of a product.  We are increasingly using recycled plastics across top-selling product lines for mice, keyboards, webcams and speakers. More than 65 per cent of the mice and keyboards in our largest product portfolio are now made with recycled plastic.”

With a focus on sustainability and meeting the changing needs of the workforce, Logitech appears poised to take a prominent position in the industry, thanks to its strong outlook for the future.

Outfitting employees with ergonomic hardware that works while charging, ensuring enterprisegrade wireless connectivity, and selecting software-empowered tools that streamline a workflow based on the end user’s personal preference all contribute to better work experience and less frustration for employees”

“WITH AI CAMERA CONTROL TECHNOLOGIES, CAMERAS CAN NOW MOVE AUTONOMOUSLY AND ADJUST THE ZOOM TO CREATE MORE IMMERSIVE MEETING EXPERIENCES, ENSURING THAT EVERYONE IS INCLUDED IN THE PICTURE.

AI IS BOOMING – SO IS ITS CARBON FOOTPRINT

TRAINING

A SINGLE AI MODEL CAN CONSUME MORE ENERGY THAN 100 US HOMES USE IN A YEAR

Artificial intelligence (AI) has become the tech industry’s shiny new toy, with expectations it’ll revolutionise trillion-dollar industries from retail to medicine. But the creation of every new chatbot and image generator requires a lot of electricity, which means the technology may be responsible for a massive amount of planet-warming carbon emissions.

Microso t, Alphabet’s Google and ChatGPT maker OpenAI use cloud computing that relies on thousands of chips inside servers in massive data centres across the globe to train AI algorithms called models, analysing data to help them “learn” to perform tasks.

AI uses more energy than other forms of computing, and training a single model can gobble up more electricity than 100 US homes use in an entire year. The emissions

could also vary widely depending on what type of power plants provide that electricity; a data centre that draws its electricity from a coal or natural gas-fired plant will be responsible for much higher emissions than one that draws power from solar or wind farms.

While researchers have tallied the emissions from the creation of a single model, and some companies have provided data about their energy use, they don’t have an overall estimate for the total amount of power the technology uses. Sasha Luccioni, a researcher at AI company Hugging Face, wrote a paper quantifying the carbon impact of her company’s Bloom, a competitor of OpenAI’s GPT-3. She has also tried to estimate the same for OpenAI’s viral hit ChatGPT, based on a limited set of publicly available data.

GREATER TRANSPARENCY

Researchers like Luccioni say we need transparency on the power usage and emissions for AI models. Greater transparency might also bring more scrutiny; the crypto industry could provide a cautionary tale.

Training GPT-3, which is a single general-purpose AI programme that can generate language and has many different uses, took 1.287 gigawatt hours, according to a research paper published in 2021, or about as much electricity as 120 US homes would consume in a year. That training generated 502 tonnes of carbon emissions, according to the same paper. That’s for just one programme or model.

While training a model has a huge upfront power cost, researchers found in some cases it’s only about 40 per cent of the power burned by the actual use of the model, with billions of requests pouring in for popular programmes. OpenAI’s GPT-3 uses 175 billion parameters or variables, that the AI system has learned through its training and retraining. Its predecessor used just 1.5 billion.

Another relative measure comes from Google, where researchers found that AI made up 10 to 15 per cent of the company’s total electricity consumption, which was 18.3 terawatt hours in 2021. That would mean that Google’s AI burns around 2.3 terawatt hours annually.

NET-ZERO PLEDGES

While the models are getting larger in many cases, the AI companies are also constantly working on improvements that make them run more efficiently. Microsoft, Google and Amazon – all have carbon negative or neutral pledges. Google said in a statement that it’s pursuing net-zero emissions across its operations by 2030, with a goal to run its office and data centres entirely on carbonfree energy.

OpenAI cited work it has done to make the application programming interface for ChatGPT more efficient, cutting electricity usage and prices for customers. “We take our responsibility to stop and reverse climate change very seriously, and we think a lot about how to make the best use of our computing power,” an OpenAI spokesperson said in a statement.

Microsoft noted it is buying renewable energy and taking other steps to meet its previously announced goal of being carbon negative by 2030. “As part of our commitment to create a more sustainable future, Microsoft is investing in research to measure the energy use and carbon impact of AI while working on ways to make large systems more efficient, in both training and application,” the company said in a statement.

There are ways to make AI run more efficiently. Since AI training can happen at any time, developers or data

TRAINING GPT-3, WHICH IS A SINGLE GENERAL-PURPOSE AI PROGRAMME THAT CAN GENERATE LANGUAGE AND HAS MANY DIFFERENT USES, TOOK

1.287 gigawatt hours

centres could schedule the training for times when power is cheaper or at a surplus, thereby making their operations more green, said Ben Hertz-Shargel of energy consultant Wood Mackenzie.

One of the bigger mysteries in AI is the total accounting for carbon emissions associated with the chips being used. Nvidia, the biggest manufacturer of graphics processing units, said that when it comes to AI tasks, they can complete the task more quickly, making them more efficient overall.

While Nvidia has disclosed its direct emissions and the indirect ones related to energy, it hasn’t revealed all of the emissions they are indirectly response for, said Luccioni, who asked for that data for her research.

When Nvidia does share that information, Luccioni thinks it’ll turn out that GPUs burn up as much power as a small country. She said, “It’s going to be bananas.” Bloomberg

WE TAKE OUR RESPONSIBILITY TO STOP AND REVERSE CLIMATE CHANGE VERY SERIOUSLY, AND WE THINK A LOT ABOUT HOW TO MAKE THE BEST USE OF OUR COMPUTING POWER”

Delivering with speed and precision

A look at Yango Delivery’s tech-driven approach

provide accurate delivery services to its clients.

The last mile delivery sector in the Middle East has seen remarkable growth in recent years, fuelled by the increasing demand for online shopping and the rise of e-commerce platforms. This growth has given rise to various logistics innovations, including Yango Delivery, which has become a prominent player in the industry, o ering a platform solution to help enterprises manage their last mile logistics operations with ease.

A technology centred logistics platform, Yango Delivery powers deliveries in about 20 countries in the Middle East, Asia, Africa and Latin America. In the UAE, it was launched last year and has proven to be a one-stop-shop logistics platform for companies in retail and e-commerce in both enterprise and SMB categories, in the food and non-food segments. “We provide access to our platform, enabling companies to outsource and manage city deliveries seamlessly,” says Agam Garg, general manager – UAE at Yango Delivery.

Garg sheds light on the three convenient delivery modes available on the platform, that caters to the diverse needs of its clients. “Firstly, with the platform a company can access express delivery which is an on-demand

service that assigns a courier as soon as the order for delivery is made. This ensures that the courier arrives at the pick-up point within minutes, and on average, deliveries are completed in less than an hour, depending on traffic and the district. The second mode is same-day delivery, which guarantees delivery within hours on the same day the order was placed. Finally, the platform has the next-day delivery option that allows packages to be collected at the sorting venue and delivered the following day,” he states.

Tech-centric approach

Despite operating in the conservative and rigid logistics industry, Yango Delivery comes from a technology background in ride hailing, maptech, and tra c data processing. This unique perspective has allowed the company to identify the potential of technology in adding value to the logistics industry.

It leverages its own routing and batching algorithms to optimise resource utilisation. The company’s routing algorithm creates the most efficient routes for couriers, taking into account factors such as tra c and road limitations. The batching technique can allow assigning orders going in one direction to the same vehicle. This helps to minimise delivery times, reduce mileage and fuel costs and lower the environmental impact of delivery.

Yango Delivery also uses its own maps, geocoding and tra c data to

Another key feature is that it o ers an app-based delivery option for SMBs, providing a service for planning and managing multiple deliveries when several drop o s have to be done. For end customers, the Yango app allows users to pick up orders from shops or restaurants or send gi ts to friends with ease. As more shops adopt Yango Delivery, users can track their orders from di erent shops within the same app, enhancing the user experience. For users who do not have the app installed, the service provides a web link to the tracking map.

Customer satisfaction is key

The technology behind Yango Delivery ensures that customer experience is second-to-none. The company boasts an impressive on-time delivery rate, ensuring that packages arrive at their intended destination within the promised timeframe.

The company’s real-time package tracking feature, allows customers to track their packages in real-time, and provides them with up-to-date information on the delivery status. This feature helps to increase customer satisfaction and reduces the number of customer inquiries related to package delivery.

“Moreover, we also provide proof of delivery by photo, for corporate customers, which o ers visual evidence that the package has been delivered. This feature can be useful in cases of disputes or issues related to delivery and also increases transparency and trust between the company and its clients,” notes Garg.

Overall, Yango Delivery’s commitment to leveraging technology — everything from the whole ecosystem of interfaces for companies, riders and end customers and propriety mapping so tware to algorithms for delivery scheduling and smart delivery monitoring — are contributing to the company’s growth in the region and a big reason why several leading brands in the region have chosen to partner with Yango Delivery.

WE PROVIDE PROOF OF DELIVERY BY PHOTO FOR CORPORATE CUSTOMERS WHICH OFFERS VISUAL EVIDENCE THAT THE PACKAGE HAS BEEN DELIVERED

AGAM GARG, general manager –UAE, YangoDelivery

THE VIEWS

THE VIEWS

Featuring the top IT leaders from the Middle East region who are responsible for the growth and continued development of their organisations

ALEX CHEHADE

DR OSAMA ALSWAILEM

Crypto silver linings to build up in 2023

ALEX CHEHADE Executive director and general manager, Binance

Acloser look beyond the challenges, bankruptcies, and shi ting market dynamics recently faced by the crypto industry sheds light on considerable progress in building new products and services. In 2022, the crypto industry witnessed increased accessibility while showing tremendous potential for growth and wider adoption in the future.

Without a doubt, the ecosystem will require extensive collaborative e ort to recover from the e ects of FTX’s crash – among other crypto platforms – but the industry should not be defined solely by the negative sentiment. It is important to remember that the blockchain

industry is still in its infancy and it is the way that it responds to criticism and overcomes challenges – those presented over 2022 and any upcoming ones – that will define its ultimate success.

In order to get a clear picture of the crypto ecosystem today, we need to consider milestones for digital assets, which have been many in 2022 alone. The truth is that the o ten-overlooked achievements of the blockchain industry in 2022, provide a solid foundation for continuous growth, building and regaining trust in the year ahead.

SCALABILITY AND ACCESSIBILITY – THE PRELUDE TO MASS ADOPTION

It is widely known that scalability, which means building blockchain’s capacity to grow while accommodating increasing user base, is one of the most important issues for blockchain developers. A network that is not scalable cannot process vast amounts of data and leads to more network fees and ine ciencies, disincentivising adoption for users.

Scalability is one of the most desirable properties within the crypto ecosystem – in addition to security and decentralisation –and is crucial due to its capacity to optimise transaction processes and ensure the e ciency of the blockchain network. With the goal to improve the efficiency of the blockchain ecosystem, in 2022 Ethereum introduced The Merge, a unique scaling solution which led to an astonishing drop

in Ethereum’s energy consumption by an estimated 99.95 per cent. Besides significant strides taken to enhance scalability, developers have continued building towards a blockchain-powered future by allowing more users to benefit from digital asset-related services. The increased use of blockchain-powered solutions by regulators globally – and in the MENA region specifically – has set a strong foundation for expanding adoption of crypto beyond retail. The International Digital Economy Court in Dubai International Financial Centre (DIFC) as well as the introduction of blockchain technology for the enforcement of international commercial court judgments by Abu Dhabi Global Market (ADGM) Courts are two examples of how UAE authorities are progressively adapting to and adopting new technologies to improve judicial operations.

Despite the crypto sentiment setbacks in 2022, crypto adoption has seen considerable growth – both on the level of retail users and institutions adding blockchain-based tools and services to their arsenal. Many global firms have benefitted from leveraging blockchain solutions, including KPMG, Robinhood, JPMorgan, Fidelity, Tesla, Instagram, PayPal, Accenture, BlackRock, Nasdaq, McDonald’s, Google Cloud, Mastercard, Sony, Nike and many more.

The MENA region has seen remarkable growth in retail adoption of blockchain, where regional retail and hospitality companies such as Majid Al Futtaim, Jebel Ali Resorts, Palazzo Versace and payment service providers like Eazy Pay have partnered with cryptocurrency exchanges. These achievements demonstrate the ambition to use digital assets to improve customer experience, provide flexible payment alternatives, and streamline corporate processes.

SECURITY AND COMPLIANCE

As the unprecedented 2022 crises have shown, blockchain industry players must focus on ensuring

Focusing on engaging with regulators and policymakers to ensure secure and sustainable growth of the crypto ecosystem is key

utmost security and compliance on their platforms to protect users from bad actors in the digital asset world. The progress made in collaborative efforts between crypto industry developers, regulators and policymakers cannot be overlooked. Leading digital asset companies increased the number of licences and authorisations secured in 2022 with permissions granted in major business hubs like the UAE and France and licences to operate in Poland, Sweden and Bahrain in the beginning of 2023.

As prominent blockchain firms have continued to grow their compliance teams in 2022, the identity verification protocols have also seen major improvements. Today, only users who have gone through strict identity verification protocols with government-issued documents are able to use digital asset services on most leading crypto platforms. We can expect more industry players who are committed to building a healthy blockchain ecosystem to implement robust know-your-client measures and anti-money laundering policies in 2023.

KEY TAKEAWAYS AND FUTURE OUTLOOK

As we venture into 2023, it is important for the crypto industry to

identify the lessons learned from 2022 to build back better in 2023. Firstly, last year proved that industry leaders must remain flexible and responsive to any disruptive occurrences in the market. This is key as crypto platforms have been focused on enhancing technology and increasing adoption, making them vulnerable to industry-wide risks and disruptive events. To mitigate this risk, companies should start by increasing transparency, streamlining risk management practices, and rebuilding user trust. Some commitments to help keep centralised exchanges safe and secure for users are to remain risk averse with user funds, never use native tokens as collateral, share live proof of assets, keep strong reserves, avoid excessive leverage and strengthen security protocols.

Secondly, the year 2022 showed that crypto and blockchain technologies have the potential to make a

real-world change on a global scale, particularly in times of crisis that destabilise the traditional financial system. For instance, Binance launched a Refugee Crypto Card and donated $10m to support Ukrainians amid the humanitarian crisis. The government’s openness to crypto led to successful multi-million-dollar crowdfunding initiatives in digital currencies across the country in support of displaced citizens. Clear regulations and fraud protection have allowed millions of people in the region to exercise their fundamental rights to pay for basic needs with crypto while traditional banks did not have capacity to support them in times of crisis.

Over the past year, the crypto ecosystem continued to develop at an unparalleled rate, making achievements that were unthinkable just a few years ago. While the rewards of the industry’s labour are not always visible, the ecosystem has gone a long way, thanks to constant infrastructure development, product releases and enhancements to transparency, security and compliance.

When it comes to the crypto regulatory environment and adoption, the UAE continues to be ahead of the curve, with the government remaining a true partner and collaborator for strong user protection and clear regulation and compliance.

As the region defines the global standard in this space, safeguarding user safety must remain a top priority. In 2023, the industry must continue to focus on engaging with regulators and policymakers to ensure the secure and sustainable growth of the crypto ecosystem, fuelled by regulation that protects innovation and market security.

THE GOVERNMENT’S OPENNESS TO CRYPTO LED TO SUCCESSFUL MULTIMILLION-DOLLAR CROWDFUNDING INITIATIVES IN DIGITAL CURRENCIES ACROSS THE COUNTRY

LEADING DIGITAL ASSET COMPANIES INCREASED THE NUMBER OF LICENCES AND AUTHORISATIONS SECURED IN 2022 WITH PERMISSIONS GRANTED IN MAJOR BUSINESS HUBS LIKE THE UAE AND FRANCE

Impact of cryptocurrency on financial data analytics

How digital assets are revolutionising financial data analytics

investor is unlikely to spot and interpret. Embracing this form of data analytics will give investors a competitive edge over those who make investment decisions based on intuition and incomplete data.

JADD ELLIOT DIB Founder and CEO, Pangaea X

An increasing number of companies worldwide are using bitcoin and other digital assets for a host of investment, operational and transactional purposes.

It is of interest for enterprises to firstly explore the benefits of data analytics to consider as they determine whether and how to use digital assets. Despite so many industries capitalising on the popularity of cryptocurrencies, the market still has pros and cons to its use.

Using a data analytic system can help uncover trends by looking back at historical data, which crypto investors can use to make informed decisions about where their currency is going in the future.

Data analysis can reveal interesting trends that the average

Fortunately, big data analytics can solve a plethora of issues, such as helping crypto users better identify the future of the market and the value of the thousands of digital currencies available to purchase and trade. That is because data analytics tools can help uncover trends by reviewing the historical data, which crypto investors can use to make informed decisions about where the crypto market is going.

Dashboards are one of the best data visualisation tools in the analytics market because they help bring visibility to

investments and finances. When someone connects their crypto wallet to a dashboard, they are able to track their performance in real-time and look at how much they have invested in di erent cryptocurrencies.

Crypto dashboards also allow people to study ROI, acquisition cost versus profit/loss, and the exchange rate of their cryptocurrencies. Examining a particular cryptocurrency’s exchange rate history will inform you of how stable the coin is compared to others. This is a great example of the power of data analytic tools.

CRYPTO DASHBOARDS ALLOW PEOPLE TO STUDY ROI, ACQUISITION COST VERSUS PROFIT/LOSS, AND THE EXCHANGE RATE OF THEIR CRYPTOCURRENCIES

Big data analytics is an emerging market, and many industries have started adopting its tools and techniques to monitor their financial performance. The cryptocurrency industry, in particular, is one market that can benefit from data tools like dashboards and methods like descriptive and diagnostic analytics to predict current and future trends.

Another benefit of using data analytics in the cryptocurrency industry is the potential to improve regulatory compliance. One of the challenges facing the industry is the lack of uniformity and consistency in regulation across di erent jurisdictions. Data analytics can help companies identify and monitor transactions that may be subject to regulatory requirements and ensure

compliance with applicable laws and regulations.

For example, by using data analytics, companies can analyse the transactional patterns of their customers and identify any suspicious activity that may require further investigation. This can help prevent fraud, money laundering, and other illegal activities. Additionally, companies can use data analytics to track their own compliance with regulatory requirements, such as reporting obligations and customer due diligence.

Overall, the adoption of data analytics in cryptocurrency has the potential to bring a range of benefits, from improving investment decisions to enhancing regulatory compliance and much more. As the industry continues to evolve, data analytics will become an increasingly important tool for companies looking to succeed in this fast-paced and complex market of today.

EXAMINING A PARTICULAR CRYPTOCURRENCY’S EXCHANGE RATE HISTORY WILL INFORM YOU OF HOW STABLE THE COIN IS COMPARED TO OTHERS

BIG DATA ANALYTICS IS AN EMERGING MARKET, AND MANY INDUSTRIES HAVE STARTED ADOPTING ITS TOOLS AND TECHNIQUES TO MONITOR THEIR FINANCIAL PERFORMANCE. THE CRYPTOCURRENCY INDUSTRY, IN PARTICULAR, IS ONE MARKET THAT CAN BENEFIT FROM DATA TOOLS LIKE DASHBOARDS AND METHODS LIKE DESCRIPTIVE AND DIAGNOSTIC ANALYTICS TO PREDICT CURRENT AND FUTURE TRENDS”

Creating an integrated platform

How and why was Darwinbox set up?

I started Darwinbox in late 2015 with two of my other cofounders - Jayant Paleti and Rohit Chennamaneni. At that time, I worked as an HR consultant with Ernst & Young, where I consulted global firms on organisation design and performance management, while Jayant was an investment banker at Ernst & Young.

The initial idea actually came when Jayant realised that the companies he was advising for a takeover had absolutely no idea regarding the HR functions of the company they were merging with. The founders were not clued in on the attrition in their own company and believed it to be lesser than the reality.

As he shared this with Rohit and me, we embarked on a study of the HR tech market. It quickly became evident that global HCM leaders

cannot solve for enterprises of the modern day – to manage highly diverse workforces, one needs to stay agile and requires a strong focus on delivering great experiences. This called for a system that needed to be extremely configurable, extensible, and connected.

There were multiple disintegrated systems across the employee lifecycle, which made it difficult to sync and analyse data. And in cases where there were integrated ERP options, the solutions were rigid and clunky for the HR and employees alike, resulting in poor adoption. Further, the HR platforms did not address the nuances of the markets they operated in.

To deal with these challenges and to make HR technology more intuitive, integrated, and insightful, Darwinbox was conceived with a vision of transforming the interaction between the workplace and technology.

Tell us about Darwinbox’s growth trajectory and its key milestones. Today, Darwinbox is one of the fastest-growing HR technology platforms that helps large enterprises empower, engage and elevate the potential of their workforce.

In our seven years journey, Darwinbox has emerged as a leading player in South Asia (third largest), Southeast Asia, and MENA. Today more than 750 enterprises and two million employees from across 90 countries love the Darwinbox experience, and the company is backed by global investors like Salesforce, Sequoia, and the most recent being Microsoft.

Darwinbox operates in six SEA markets, with offices in Singapore, Indonesia, Malaysia, the Philippines and Thailand. In the MENA region, we recently opened our office in Dubai at DIFC and are present in Saudi Arabia. We have just started our foray into the USA.

Tell us about your digital HR/ HR Tech platform and how it has helped companies across the region.

Darwinbox is built for the local context; we understand local nuances and build solutions that cater to local needs.

Employee Experience (for the hybrid/ remote workforce) –Employee experience is at the heart of every business. Darwinbox empowers its customers to elevate employee experience in more ways than one. The intuitive and mobile-first platform helps in understanding the needs of the distributed workforce. At the technology level, AI and ML capabilities allow the creation of personalised experiences, get predictive insights and increase

IT IS A SOLUTION COMPRISING RELEVANT OFFERINGS LIKE A VACCINATION TRACKER, TOUCHLESS ATTENDANCE, DAILY HEALTH CHECK-INS, TIMESHEETS, LOCATION SHIFTS AND MORE”

Q:

CHAITANYA PEDDI Co-founder, Darwinbox

DARWINBOX EMPOWERS CUSTOMERS TO ELEVATE EMPLOYEE EXPERIENCE IN MORE WAYS THAN ONE

engagement and motivation for the digital, distributed workforce. Innovations such as Voicebot, and facial recognition-based touchless attendance are some of the aspects customers can benefit from.

One of our e-commerce clients in the region needed capabilities delivered via an easy and intuitive app that mirrors their own platform for employee engagement and employee self-service. Darwinbox’s mobile-first approach empowers employees with easy access to information, interact with managers, track their performance, attendance, and just about every matrix and dimension related to their work at the convenience of their devices. Unifying multi-country employee operations – For one of our fintech clients in the region with a multigeography operation, it was imperative to be compliant with local HR regulations, payment processes, data restrictions, and benefits discrepancies that come along when expanding and operating in a new country. With Darwinbox’s platform, we could offer them a unified employee view, so they are now able to address these local intricacies with ease.

Talent management – It enables customers to manage the entire talent management from performance management to succession planning, talent strategy and planning, and total compensation.

Daily workforce management

During the pandemic, Darwinbox was able to extend unprecedented support to all customers by helping them transform in 24 hours – be it through touchless attendance, collaboration, remote engagement/productivity. Evolve, a curated product for post-covid workplace needs was born during the pandemic. It is a solution comprising relevant offerings like a vaccination tracker, touchless attendance, daily health check-ins, timesheets, location shifts and more.

Analytics & Reporting: Be it personalisation or bringing about employee engagement, getting a pulse of your employees is essential to intelligent and informed decision-making.

Customers use Darwinbox to democratise insights through reports and dashboards.

Time savings with MSS and ESS: ESS or employee self-service allows employees to take care of different work related or HR related tasks by themselves, resulting in better employee experience and increasing efficiency and productivity. Similarly, manager self service provides manager with information regarding their employees and also enhances better collaboration between manager teams and HR teams. It automates everyday HR operations, freeing up time for HR admin to focus on strategy.

Tell us about your partnership with Microsoft and why it is significant/ its implications.

We are thrilled to announce our strategic partnership with Microsoft. As part of the partnership, Microsoft made an equity investment in Darwinbox. However, what’s unique about this collaboration is that it marks the marriage of the world’s most comprehensive system of productivity with dynamic and ever-evolving people data.

The partnership will enable deep integration between Darwinbox and the Microsoft product ecosystem to co-innovate solutions that enhance employee experience and organisational agility.

Microsoft has commissioned multiple lines of co-innovation redefining what’s expected traditionally of HCM systems. The collaboration establishes a product offering that radically differentiates itself from the legacy incumbents in the market. Leading Microsoft products and platforms like Office365, MS Teams, Viva and Dynamics will offer integrated solutions involving Darwinbox’s offerings to compound both ease and value delivered for enterprises and end users alike.

This is one of the first HRMS investments from Microsoft and is a sound validation for our growth journey. This also makes us one of the rare few companies globally to have both Microsoft and Salesforce on the cap-table.

During the pandemic, Darwinbox was able to extend unprecedented support to all customers by helping them transform in 24 hours – be it through touchless attendance, collaboration, remote engagement

Harnessing digital innovations

3D PRINTING: It is used in the region to produce custom prosthetics, dental implants, and surgical tools. It reduces costs and time to build and allows for personalised treatment.

organisational services, medical education and access to employee services all remotely.

ARTIFICIAL INTELLIGENCE (AI):  AI is being used in the Middle East healthcare industry to improve diagnosis and treatment, reduce medical errors, and enhance the patient experience. AI-powered chatbots, robotic surgery, and predictive analytics have become the most common applications.

PERSONALISED MEDICINE: Healthcare providers are increasingly using genetic testing and other technologies to develop customised treatment plans for patients.

How has the role of a CIO changed over the years in the healthcare industry?

What new innovations are driving the healthcare industry in the Middle East? Share some recent trends.

The healthcare industry in the Middle East is experiencing a wave of innovation driven by the Fourth Industrial Revolution and its emerging technologies:

VIRTUAL HEALTH:

The use of conferencing and information technologies to provide remote medical services, health education and all healthcare related services. It enables patients to consult with doctors online, receive virtual medical advice, monitor their health status; clinicians the ability to leverage

WEARABLES AND IOMT (INTERNET OF MEDICAL THING): They can track vital signs, monitor patient movements, and send alerts to healthcare providers when necessary. They are used in patient care, chronic disease management, and remote patient monitoring.

BLOCKCHAIN: The use of blockchain technology is growing in the Middle East healthcare industry, particularly in medical record, wellness and supply chain management.

Not only has the role changed but the pandemic has redefined the title from chief information o cer (CIO) to a digital o cer. Healthcare organisations now increasingly rely on data-driven decision-making, and CIOs have moved from strategic and operational planning to driving applied innovation in areas such as population health management, virtual health, blockchain and AI.

They are now relied on more to ensure data security and privacy, comply with evolving regulatory requirements around the use of emerging technology while collaborating with other

DR OSAMA ALSWAILEM

CIO - King Faisal Specialist Hospital & Research Centre

Dr Osama Alswailem, chief information officer at King Faisal Specialist Hospital & Research Centre, shares recent trends in healthcare

stakeholders in the healthcare ecosystem, such as researchers, care-givers while maintaining interoperability throughout.

How have you implemented some of the emerging technologies at King Faisal Specialist Hospital & Research Centre? Share some examples of technologies presented at Saudi’s Leap. At KFSH&RC, we have been utilising innovative AI-driven systems to optimise operations and empower staff to manage and cater to patient needs efficiently. The AI systems were created to improve resource management, decrease patient wait times, and promote operation room efficiency though

a unified command center. We also use a virtual reality programme to aid children with autism in developing essential life skills. Additionally, we are exploring the metaverse adoption to remove healthcare walls and borders and enhance staff training and blockchain application as a hospital wellness and reward system for KFSH&RC’s patients and staff.

At Leap23, we showcased a medical 3D printer that can be used for clinical and research purposes, the technology we use at KFSH&RRC allows the specialist to pass a scan of the limb that needs replacement or orthotics; stores data in a computer that is transferred directly to an auto

control and manufacturing device, making a three-dimensional mold resembling the prosthesis or orthotic needed.

What new innovations can we look forward to from KFSH&RC?

We will continue to expand on adapting AI and emerging technologies as tools for supporting evidence-based medicine and their respective applications in various sectors while collaborating with innovation partners to help develop and share best practices of safe and cutting-edge technologies.

What are your top priorities for the year ahead?

For this year, we will focus on advancing smart methods to improve the quality and timeliness of care and develop strategic and seamless integration with the digital ecosystem to use extended intelligence and extended reality to enhance patient and staff experience. Our goal is to bring technologies that will drive the healthcare sector forward under the three main pillars: operational excellence, patient experience, and quality of care.

AT LEAP23, WE SHOWCASED A MEDICAL 3D PRINTER THAT CAN BE USED FOR CLINICAL AND RESEARCH PURPOSES

WE ARE EXPLORING A METAVERSE ADOPTION TO REMOVE HEALTHCARE WALLS AND BORDERS AND ENHANCE STAFF TRAINING AND BLOCKCHAIN APPLICATION AS A HOSPITAL WELLNESS AND REWARD SYSTEM FOR KFSH&RC’S PATIENTS AND STAFF”

Watch out for those quiet quitters

Let’s start with some numbers. A LinkedIn survey of Middle East employees, conducted in the first half of 2022, showed 70 per cent were willing to quit because of a lack of flexibility. This general air of restiveness has been around for a while. In 2021 in the UAE, an insurance industry poll of workers across sectors revealed 68 per cent of them to be stressed from work, which was significantly up on the previous year’s figure of 58 per cent.

The previous year’s study was based on data from just before the pandemic, so it is fair to say that Covid did not cause the stress, but it seems to have intensified it and got people talking about it. Some of those people will quit outright. Others may stay and engage in what has become known as quiet quitting. Regional firms must be agile and innovative to find their place in the digital economy. If even a portion of the workforce is unmotivated, transformation programmes simply will not work.

Nowhere is the stress of the modern daily grind more prevalent

PAUL BAIRD

than in cybersecurity teams. And for them, just showing up is not enough. They must do battle with a rapidly evolving threat landscape populated with highly motivated attackers. Meanwhile, the corporate world coins a term that conveys laziness, ingratitude, or some measure of inconvenience to the business, without ever considering what is behind it.

EMPLOYEES HAVE GOALS TOO

Employees have always wanted more work-life balance. What has changed is that Covid lockdowns forced employers to experiment with remote work. And the sky did not fall. Now, an expectation hangs in the air that all organisations must o er hybrid workplaces. Employees are starting to say to businesses, in ways subtle and explicit, “You are not the only ones with goals”.

Security professionals respond to alerts, they track vulnerabilities, they triage risk. Missteps are the subject of full-blown inquiries while successes go all but unsung. Burnout is an obvious subsequent link in this chain, as is either resignation or quiet quitting. Studies point to a global cybersecurity skills gap of considerably more than three million, amid an ocean of polls in which the rare talent that we have complains of being overworked.

Organisations that want to attract and retain the right talent must show that they also see employees that way

Chief technical security officer, Qualys

So, the choices ahead of us are plain. First, become a painful headline as we are hit with ransomware (or some other incident), or build a robust security posture. Assuming, we choose the latter, we must find a way to keep existing talent and develop new talent. Instead of dismissing the desire to work only the contracted hours with sentiments such as “not a team player”, we must work with our people to help them manage their time more e ectively.

SWITCHING OFF

We need to remember that we are locked into a choice. If we do not allow security professionals to switch o for su cient periods, they may leave the company or even the field. Employees are much, much more than just their role. That is how they see themselves. Organisations that want to attract and retain the right talent must show that they also see employees that way.

First, get the metrics right. Ensure work is distributed evenly, and if you see someone pulling more weight than others, get curious. Is this because of their work ethics, or was it made necessary by an ill-designed

workflow? Second, automate. Take the burden o the security team’s shoulders and free up time to concentrate on more challenging tasks.

Ensure the right leader with the right so t skills is in place to ensure that when highflyers are identified that others are not demoralised by their progression. And ensure that the leader is capable of distinguishing a colleague who is suffering outside their professional life from one who is lazy within it.

MORE THAN THEIR ROLES

A welcoming, nurturing atmosphere creates a productive, committed team. But to have a leader that can exercise daily judgement that treats people as individuals who are more than just their roles takes commitment and practice from the leader. They must have regular team and one-on-one meetings where they encourage open communication. And if necessary, leaders should be trained in emotional intelligence so they can notice the cues that allow timely action.

Unfortunately, not all organisations will take the compassionate approach to quiet quitting that is

described here. Some business units may have decided they can automate and show employees they are replaceable. This constitutes a passive-aggressive move to put the moving-forward ball in the workforce’s court. For cybersecurity, where there is an unavoidable need for human ingenuity coupled with a genuine shortage of talent, the “call their blu ” gambit will backfire. It is simply too big a risk. Meeting employees halfway is the only way.

A LINKEDIN SURVEY OF MIDDLE EAST EMPLOYEES, CONDUCTED IN THE FIRST HALF OF 2022, SHOWED 70 PER CENT WERE WILLING TO QUIT BECAUSE OF A LACK OF FLEXIBILITY

WE NEED TO REMEMBER THAT WE ARE LOCKED INTO A CHOICE. IF WE DO NOT ALLOW SECURITY PROFESSIONALS TO SWITCH OFF FOR SUFFICIENT PERIODS, THEY MAY LEAVE THE COMPANY OR EVEN THE FIELD. EMPLOYEES ARE MUCH MORE THAN JUST THEIR ROLE”

From an idea to impact

(46 per cent) are analysing what didn’t work or carrying those lessons forward. Worryingly, 57 per cent believe their technology is not cutting-edge and fear falling behind their competitors.

a digital leader, businesses need to have the right people, processes and technologies in place. This is often not simple as it seems, and very often, the prevailing takeaway is an out-of-balance people, process and technology alchemy.

This outlook was evident in the 2023 Dell Technologies Innovation Index study, which revealed that 71 per cent of business leaders are more inclined to favour their own ideas while only around half (52 per cent) are aligning innovation projects to company goals. Even fewer

So, what must businesses do to cultivate an innovative mindset as we move into the digital economy? We believe that one of the most meaningful and effective ways is by empowering innovators to make a direct difference in people’s everyday lives. This means leaders need to look into their business’ readiness and maturity to innovate and where they need to double-down. Innovation can only be truly harnessed when the people, process and technology transformation are uniformly applied across an organisation’s practice.

A PEOPLE-LED BUSINESS

A total of 64 per cent of respondents said their company’s culture

It’s no secret innovation is indispensable. It inspires creativity, collaboration and change. Without it, companies would struggle to keep up, embrace market shifts or deliver the next big breakthrough. Simply put, it is the currency that drives today’s digital economy.

According to a study by Straits Research, the global innovation management market is projected to grow at a compound annual growth rate of 16.4 per cent, from $1.5bn in 2021 to $6.2bn by 2023. Despite the positive outlook, the question still needs to be answered: What is stopping organisations from advancing the ball on their innovation initiatives?

In today’s disruptive world, to be able to innovate and emerge as

What businesses must do to cultivate an innovative mindset as we move into the digital economy

MOHAMMED AMIN

Senior vice president –Central Eastern Europe, Middle East, Turkey, Africa, (CEEMETA), Dell Technologies

is holding them back from being as innovative as they want to be. True innovation begins with empathetic leadership, and technology that frees people from unfulfilling tasks. Business leaders need to democratise innovation and encourage employees to discover the innovator in each of them. What companies o ten fail to understand is that successful transformation is about so much more than hardware and so tware.

Most organisations will readily attest to the need for technology transformation to be accompanied by workforce transformation and development of human business skills. Unfortunately, there is no one-size-fits-all solution to enable businesses to future-proof their workforces. It is critical for companies to ensure that their learning framework extends beyond standard training and development to also include a continued-learning plan, which sets the organisation as well as the individual on the road to transformation.

AN END-TO-END PROCESS

Today, data is a big differentiator, and organisations can achieve breakthroughs with real-time data and decisions. However, just 26 per cent of decision-makers say all their innovation decisions are based on data. A lack of a well-defined implementation process is o ten a key barrier to prioritising innovationfocused projects. An innovation mindset can only survive when businesses use available data and insights to meticulously build an end-to-end, ideation-to-execution process.

TECHNOLOGY, A CATALYST FOR GROWTH

Despite the fast-paced shi ts across the global economies, many businesses still don’t regard technology as an agent of change. One barrier is IT complexity, where adopting new technologies can be considered cumbersome and expensive. However, with the widespread availability of pay-per-use consumption models, businesses of all sizes can align their innovation goals with agility, simplicity and purpose.

IMPACT OF EMERGING TECHNOLOGIES CANNOT BE IGNORED

Transformation is occurring at many different layers across the information technology stack. With new technologies emerging at each of these di erent layers, organisations need to be able to navigate these technology inflections to create an innovation ecosystem that optimises their business for a digital future, supports better customer outcomes, and minimises the risk of digital disruption by competitors.

IN SUMMARY

Innovation is essential to driving long-term business success and finding new ways to do old things. From healthcare to manufacturing, oil and gas to the retail sector, technology led innovations are driving transformative shi ts that are impacting profitability and enhancing customer loyalty and trust.

Innovation comes in many shapes and sizes, and businesses must embrace them all. Every idea can make a di erence. But these ideas must be heard, appraised and facilitated with the right technology and processes. From a bright spark to innovation to a meaningful impact, the journey might be long, but as Albert Einstein once said, “If you always do what you always did, you will always get what you always got.”

Now is the time for us as business leaders, employees and consumers to look ahead, harness the right tools, and do things di erently.

71% OF BUSINESS LEADERS ARE MORE INCLINED TO FAVOUR THEIR OWN IDEAS

THE GLOBAL INNOVATION MANAGEMENT MARKET IS PROJECTED TO GROW AT A COMPOUND ANNUAL GROWTH RATE OF 16.4 PER CENT, FROM $1.5BN IN 2021 TO $6.2BN BY 2023

INNOVATION COMES IN MANY SHAPES AND SIZES, AND BUSINESSES MUST EMBRACE THEM ALL. EVERY IDEA CAN MAKE A DIFFERENCE. BUT THESE IDEAS MUST BE HEARD, APPRAISED AND FACILITATED WITH THE RIGHT TECHNOLOGY AND PROCESSES”

Q: CATALYSING GROWTH

How is Amazon utilising technology and implementing multi-level innovation strategies to enhance customer experience?

When it comes to technology, Amazon is known for relentlessly innovating on behalf of our customers in order to ensure a fast, convenient and reliable shopping experience. While a lot of the technology in our fulfillment centres (FC) is invisible, technology remains the backbone of our operations.

We use machine learning (ML) and artificial intelligence (AI) to define where products are and how they should most efficiently move from point A to point B. Complex algorithms map the route of a package in the most efficient way possible – from the time it enters the FC to the time it arrives at a customer’s doorstep.

One of the things that makes Amazon fulfillment centres smart and transformative is the way we organise our inventory. All inventory at the centre is stowed randomly. While the randomness may seem chaotic to an outsider, our systems know where every item is located

and optimise the picking order to make the process as efficient as possible. Sophisticated algorithms are used to provide employees with the best possible pick path, which is optimised to reduce walking in the building.

Technology also powers the pack process. When an employee scans an item, the computer tells the employee what box size is most optimal for that particular product’s size and weight. At our SLAM (scan, label, apply and manifest) line process, the technology scans the box and immediately knows to print the correct shipping label on the box. There are quality control measures in place; the box is weighed at this point and our system knows exactly what the item should weigh.

PRASHANT SARAN DIRECTOR OF OPERATIONS

We also leverage technology to maximise efficiency on the road, provide guidance to drivers on delivery routes and reduce delivery times by placing delivery stations and other pick up points close to large Amazon customer populations. This allows us to deliver orders faster and with ever-increasing reliability.

AIMING TO BETTER SERVE CUSTOMERS THROUGH FASTER AND MORE EFFICIENT DELIVERY

AMAZON MENA

How does the new facility’s storage capacity improve customer experience?

We are constantly inventing on behalf of customers to meet their desire for lower prices, better selection and convenient services. Our fulfillment network plays an integral role in supporting consumer demand especially during peak customer occasions such as Ramadan. The centre has a storage capacity of 2.1 million cubic feet.

We have also been improving operational preparedness to ensure a smooth and seamless experience for customers across the country. The centre will be equipped with Amazon’s latest innovations to ensure speed, safety and reliability with every order.

We are also expanding our ‘unattended delivery’ option for customers. Unattended delivery enables customers to get their deliveries securely to a preferred location such as a front door, security desk, reception, with notification features such as photo on delivery. This service further enhances our flexible delivery options for busy UAE customers.

Recently it was announced that Amazon will sell 100,000 products from SMEs by 2026. How will this facilitate the growth of entrepreneurship throughout the country?

Last month, we announced our pledge to display products of 100,000 small and medium UAE enterprises on

THE CENTRE HAS A STORAGE CAPACITY OF 2.1 million cubic feet

Amazon.ae by 2026. This commitment is in support of the Dubai Economic Agenda D33 to make Dubai one of the world’s top ten digital economies.

Our fulfillment by Amazon model, allows entrepreneurs and independent sellers to leverage our network and technology, enabling them to reach their customers online. Most products sold on our website come from thousands of sellers, many of which are small and medium-sized businesses (SMBs).

In fact, many SMBs ventured into e-commerce for the first time using our convenient process to start selling online, access to listing tools, safe payment processing, promotional features and customer service. As we grow our network, infrastructure and service offerings, we believe we are accelerating entrepreneurship in the country by providing sellers with more storage capacity to store a wider selection of products for their customers, supporting them through more delivery options to enhance customer experience, and providing them with wider reach to expand their businesses to new markets.

How does Amazon use AI and ML to personalise the shopping experience of its customers?

We are constantly inventing on behalf of customers to meet their desire for lower prices, better selection, and convenient services. We use technology to enable us to enhance the customer experience. Putting the customer first, we ask ourselves what might delight them, and then work backwards to figure out how to innovate on their behalf.

AT OUR SLAM (SCAN, LABEL, APPLY AND MANIFEST) LINE PROCESS, THE TECHNOLOGY SCANS THE BOX AND IMMEDIATELY KNOWS TO PRINT THE CORRECT SHIPPING LABEL ON THE BOX

“MANY SMBS VENTURED INTO E-COMMERCE FOR THE FIRST TIME USING OUR CONVENIENT PROCESS TO START SELLING ONLINE, ACCESS TO LISTING TOOLS, SAFE PAYMENT PROCESSING, PROMOTIONAL FEATURES AND CUSTOMER SERVICE”

OUR FULFILLMENT NETWORK PLAYS AN INTEGRAL ROLE IN SUPPORTING CONSUMER DEMAND ESPECIALLY DURING PEAK CUSTOMER OCCASIONS SUCH AS RAMADAN

E-COMMERCE STRATEGIES:

HOW TO PREPARE YOUR BUSINESS FOR SUCCESS

AN OVERVIEW OF KEY AREAS THAT BUSINESSES SHOULD FOCUS

As the world moves further into a digital age, the Middle East market is poised for a second wave of e-commerce growth.

Driven by a young, tech-savvy population and the impact of Covid-19, the region’s e-commerce sector has experienced an exponential increase in sales and user adoption, giving rise to a new generation of digital-native household brands, such as NowNow, Namshi, Eyewa and Squatwolf.

Growth is expected to continue at a double-digit rate, of around 20 per cent per year, bringing the total market value to $70bn by 2025. Advancements in technology, such as Web3 and artificial intelligence, are expected to further accelerate market growth, paving way for the next generation of e-commerce businesses.

To capture this opportunity, businesses must adopt agile and adaptable e-commerce strategies, navigating challenges of this ever-evolving landscape.

Rising customer expectations, stricter data protection regulations, and intensifying competition are just a few examples of changes forcing businesses to rethink their online strategies. To thrive, businesses should develop tailored e-commerce strategies around a set of clearly defined core capabilities.

Here are some key areas that businesses can focus on to build a strong e-commerce strategy in the Middle East.

OMNICHANNEL STRATEGY

To accelerate growth, regional businesses should consider adopting an omnichannel approach integrating online direct-to-consumer models, online marketplaces, and offline channels. Despite the seeming contradiction, offline still represents the lion’s share of the total market value in the Middle East. Offline presence – via own stores or wholesale partners – can offer attractive avenues of growth for digital-native businesses and unique

advantages like personalised, face-to-face service and sales support, which can help complement and elevate online performance.

UAE-based brand Eyewa serves as an excellent example of an online business successfully growing through o ine presence – founded in 2017 as an online platform, Eyewa has expanded with 60 stores in the GCC over the last two years. Channel decisions should be considered in the context of the underlying business model and strategy; an integrated omnichannel approach can create positive spill-over e ects on online channels.

LEVERAGE CONTENT TO BUILD A PLATFORM

The democratisation of media has led to the emergence of numerous content creators who have built influential platforms and solid personal brands, later monetised via various products and services. Notable examples include Kim Kardashian’s Skims and Huda Kattan’s Huda Beauty, showcasing the power of content-driven brand growth. With diminishing returns from online marketing channels and traditional influencer collaborations, it is imperative for consumer-oriented e-commerce businesses to find new ways of reaching their target audience. Content creation can serve as a powerful lever to build platform and reach, to mitigate rising customeracquisition-costs online.

ESTABLISH A FLEXIBLE LOGISTICS INFRASTRUCTURE

Logistics and last-mile delivery remain critical challenges

for e-commerce businesses in the Middle East. The underdeveloped infrastructure in the region hinders many companies from meeting customer expectations with regards to same-day and next-day deliveries. Crossborder shipping is further complicated by import costs, customs duties, and VAT, impacting order fulfillment and reverse logistics. To overcome these hurdles, businesses must establish a reliable and adaptable

logistics network tailored to regional requirements. Possible solutions include establishing a capillary fulfillment infrastructure via retail stores and / or brand partners to cater to customer expectations, whilst also employing measures to optimise operations. Decisions regarding logistics setup are closely connected to core strategic questions and should be guided by decisions regarding current and future focus markets.

CONCLUSION

To build a successful e-commerce strategy, business need to navigate the challenges and capitalise on the opportunities presented by the region’s evolving landscape. From an omnichannel approach to contentcentric strategies and flexible logistics infrastructure, there are several key areas and considerations that businesses must take into account when defining their e-commerce strategies. By focusing on select set of core capabilities and investing in the right areas, businesses can build a strong position in the e-commerce space and seize the opportunity for growth that is likely to be seen in regional markets in the next decade and beyond.

DESPITE THE SEEMING CONTRADICTION, OFFLINE STILL REPRESENTS THE LION’S SHARE OF THE TOTAL MARKET VALUE IN THE MIDDLE EAST

“CHANNEL DECISIONS SHOULD BE CONSIDERED IN THE CONTEXT OF THE UNDERLYING BUSINESS MODEL AND STRATEGY; AN INTEGRATED OMNICHANNEL APPROACH CAN CREATE POSITIVE SPILL-OVER EFFECTS ON ONLINE CHANNELS”

20 PER CENT PER YEAR, BRINGING THE TOTAL MARKET VALUE TO $70BN BY 2025

GROWTH IS EXPECTED TO CONTINUE AT A DOUBLE-DIGIT RATE, OF AROUND

ELIAS AAD, partner and head of Digital and Entrepreneurship at Roland Berger

ALEXANDER STEFFAN , principal digital marketplace at Roland Berger

EMANUEL BRENDAROU , project manager, digital and entrepreneurship at Roland Berger

THE FUTURE OF NFT-BASED GAMES

boost Dubai as a regional and global gaming industry hub.  With such significant growth expected, the potential for NFT-based games to establish itself as a major game genre beckons, as developers and gamers alike will continue to see resources invested in the right areas.

VARIANCE OF GAME MECHANICS

NFT-based games have emerged as a new trend in the gaming industry, driven by the growing popularity of NFTs (nonfungible tokens) and the desire to create more immersive gaming experiences. Unlike other game genres that perform well in certain regions, NFT-based games and experiences are in demand globally, with the UAE and the MENA region being the genres hub for growth.

Broadly speaking, the gaming industry in the region has been growing rapidly in recent years, with more investors pumping capital into development and esports, and more players getting their voices heard for experiences that could have been previously unavailable to them prior.

In conjunction with these projections, the Dubai Chamber of Digital Economy has reaffirmed their commitment to aiding the emirate, with plans to

NFT games utilise NFTs to represent unique in-game items or assets, allowing players to buy, sell and trade these assets on blockchain-based marketplaces. The growth of NFT-based games is significant, with more developers and players embracing the concept of using NFTs in games. These games provide players with a unique gaming experience, allowing them to own their in-game assets and participate in a decentralised gaming economy. This has led to a surge in popularity, with developers allowed to flex their technical expertise, by creating entirely new experiences that are accessible via NFTs and blockchain integration.

NFT-based games are becoming more sophisticated, with developers experimenting with new mechanics, such as player-owned game worlds, in-game governance systems and play-to-earn models. These models are intricate systems that developers are building. These innovations have the potential to revolutionise the gaming industry, making

These games have the potential to boost the economy and affect the gaming industry in significant ways

it more player-centric and rewarding for players who contribute to the game’s ecosystem.

Inspired by traditional gaming genres and concepts, these games have traditional game genres with some form of variance, bringing out a unique sense of character, and a plethora of other mechanics. From collectible games where NFTs represent cards to battle pet simulators where the NFT is your unique pet, there is a high standard of innovation that perhaps is overlooked by many.

A rising style of NFT games named gamification explores the play-and-earn model, with a variety of modifications and variations such as social to earn, race to earn and watch to earn, all possible angles in which developers can structure their games. One example of a play and earn game that blends multiple experiences is Banksters, who have implemented a full scope of classical and blockchain gaming. The firm has created a trading NFT game,

THESE GAMES PROVIDE PLAYERS WITH A UNIQUE GAMING EXPERIENCE, ALLOWING THEM TO OWN THEIR IN- GAME ASSETS AND PARTICIPATE IN A DECENTRALISED GAMING ECONOMY. THIS HAS LED TO A SURGE IN POPULARITY, WITH DEVELOPERS ALLOWED TO FLEX THEIR TECHNICAL EXPERTISE, BY CREATING ENTIRELY NEW EXPERIENCES THAT ARE ACCESSIBLE VIA NFTS AND BLOCKCHAIN INTEGRATION”

which seeks to reward players for understanding crypto market trends, whilst challenging them to put their knowledge to the test by expressing their trading skills and game strategy.

EFFECT ON GAME INDUSTRY AND ECONOMY

NFT-based games have the potential to boost the economy and a ect the gaming industry in significant ways. As players earn cryptocurrency by playing these games, they are essentially participating in a new form of work, which has the potential to disrupt traditional employment models. This could lead to a new era of decentralised work, where players can earn a living by participating in decentralised gaming economies.

Furthermore, NFT-based games are already a ecting the gaming industry by changing the way developers approach game development. As these games become more popular, developers are beginning to think more about how to create decentralised economies and player-owned game worlds. Nextbraintech expects that this could lead to a shi t in power from game developers to players, making the gaming industry more democratic and player-centric.

With the potential to transform the gaming industry and create new opportunities for players and developers alike, the future of NFT-based games is promising. As more players embrace the concept of owning their in-game assets and participating in decentralised gaming economies, we can expect to see more innovative NFT-based games emerge, pushing the boundaries of what is possible in the gaming industry.

Alex Altgausen, co-founder and CEO, Banksters

NFT GAMES UTILISE NFTS TO REPRESENT UNIQUE IN-GAME ITEMS OR ASSETS, ALLOWING PLAYERS TO BUY, SELL AND TRADE THESE ASSETS ON BLOCKCHAIN-BASED MARKETPLACES

CREATING ELITE GAMING TECH

A look at how Sandsoft explores novel technology to engage consumers

What is the cultural significance of video games in the MENA region?

The gaming industry is a major player in the entertainment and cultural industries. In fact, it’s larger than the movie and music industries combined. The Middle East and North Africa (MENA) region is one of the fastest growing both in terms of revenue and in players.

Video games is a unique industry which blends art and science, humanities and technology, intuition and data. Although there’s been substantial progress in localising and culturalising games in the MENA region, there’s still work to do in making players from the region feel represented and in telling stories from this part of the world that have global appeal.

Tell us about the economic impact of video gaming in the Middle East for job creation and revenue generation in line with Vision 2030. Saudi Vision 2030 is a driving force for change in

the Middle East, representing a tremendous opportunity to build a more sustainable economy in future. The National Gaming and Esports Strategy provides a more comprehensive plan on how esports can contribute to the change and growth of Saudi Arabia and the wider Middle East. As shared by Prince Faisal bin Bandar bin Sultan, president of the Saudi Esports Federation, the National Gaming and Esports Strategy will contribute 1 per cent of GDP by 2030. In addition to this, the expectation is to create 39,000 jobs in the gaming industry by 2030 in Saudi Arabia. We are deeply committed to supporting the strategy and Vision 2030. In October 2022, we announced our game development studio in Riyadh, which expanded our corporate and publishing teams in the kingdom. We will be substantially growing our presence during 2023, trebling the size of our team to reach 100 people based in Riyadh at the end of the year.

How are you staying ahead of industry trends, and the importance of embracing new technologies to stay competitive in MENA’s fast-growing gaming industry?

David Fernandez, CEO, Sandsoft

Technology for us is a means, not a purpose. We’re trying to craft highend mobile-first gaming experiences that can surprise players and build long-term relationships with them. As such, we’re always exploring new ways of interacting with consumers and we constantly have our eyes open to new technologies. Let me share a couple of examples: we’ve a couple of projects that explore players’ ownership, leveraging blockchain technology and we’re also using artificial intelligence to explore artistic styles and concepts for some of our new games.

Share your views on diversity in gaming.

Everyone in the world - no matter their race, their gender or their culture - wants to be part of the stories they love in an authentic and relatable way. Everyone should be able to unleash the hero they have in them when playing games, and game developers should offer them a wide selection of characters that ensure they can feel represented.

WE’RE TRYING TO CRAFT HIGH-END MOBILE-FIRST GAMING EXPERIENCES THAT CAN SURPRISE PLAYERS AND BUILD LONG-TERM RELATIONSHIPS WITH THEM”

THE REVIEW

REALME GT3 Charges 100 per cent in 9 minutes and 30 seconds p.49

47

SAMSUNG GALAXY

A54 5G

Has a 6.4-inch FHD+ super AMOLED display with a refresh rate of up to 120Hz

SONY WH-1000XM5 HEADPHONES

The Sony WH-1000XM5 headphones are the latest iteration of the 1000X line, which is known for its active noise-cancelling (ANC) technology. The fifth generation boasts improved design and functionality, as well as refined sound quality. We got the device for a hands-on review and here’s what it looks like.

DESIGN

Weighing just 250g, the WH-1000XM5 headphones have a modern design that features a smaller headband and simpler earcups. Despite the reduced cushioning, the earpads are soft, comfortable and do not get too warm. The earcups come with both touch and physical controls, with the left cup having a button for ANC/ambient mode and the power button, while the right cup has a USB-C port. The headphones have a sturdy build quality and feel durable.

CONNECTIVITY AND BATTERY

The headphones support Bluetooth 5.2 and offer a stable connection with no dropouts or imbalances. They support voice assistants such as Alexa and Google and come with Google Fast Pair and Microsoft Swift Pair for easy pairing. The battery life is impressive, with 30 hours of life with ANC on and 40 hours with ANC off.

SOUND QUALITY

The WH-1000XM5 headphones deliver a balanced and powerful sound across the entire frequency range. The bass range is deep despite the smaller drivers. The headphones have two directional microphones on each side and AI algorithms that accurately extract and transmit voices during phone calls. Additionally, they support 360 Reality Audio and Dolby Atmos formats.

Overall, the Sony WH-1000XM5 headphones offer ANC technology, longer battery life, and great sound quality, making them a right choice for both casual listening and professional use.

THE HEADPHONES SUPPORT VOICE ASSISTANTS LIKE ALEXA AND GOOGLE AND COME WITH GOOGLE FAST PAIR AND MICROSOFT SWIFT PAIR FOR EASY PAIRING

SAMSUNG GALAXY A54 5G

Samsung’s latest addition to the Galaxy A series, the Galaxy A54 5G, comes with significant upgrades compared to its previous models. The new smartphone features a 50MP primary camera that promises enhanced low-light photography and video stabilisation, making it an ideal choice for photography enthusiasts.

Moreover, the phone offers a two-day battery life. The device is available in three colour options: Awesome Lime, Awesome Graphite, and Awesome White. The Galaxy A54 5G with 256GB storage is priced at Dhs1,699, while the 128GB variant costs Dhs1,559 in the UAE.

KEY FEATURES

• Weighs 202g and features a sleek frame and clean camera layout

• Features 50MP main camera, 12MP ultra-wide camera, 32MP front camera and 5MP macro camera

• Shoots high-quality videos with video digital image stabilisation and auto-framing

• Has 6.4-inch FHD+ super AMOLED display with refresh rates of up to 120Hz

• Equipped with 5000 mAh battery capacity that provides two days of battery life

• Compatible with Samsung Galaxy ecosystem

• Guarantees up to four generations of OS upgrades and five years of security updates

KEY FEATURES

• Equipped with MediaTek Helio P35 octa-core processor and 3GB/4GB of RAM and 32GB/64GB of ROM

• Features a 13MP AI dual camera with a main 13MP sensor and a macro 2MP sensor

• Features a 6.51-inch Halo FullView Display

• With a 5000mAh battery, a single full charge can provide users up to 18 hours of online HD video streaming

• Is only 8.19mm in thickness – allowing the 2.5D–curvature

• Has eye protection mode that automatically adjusts brightness levels

• Can turn on the display and unlock the smartphone at the same time with side fingerprint design

• Takes only 0.232 seconds to unlock the screen

VIVO Y16

Vivo’s latest addition to its Y series: vivo Y16 smartphone promises to offer users a delightful experience with its new features. The 2.5D trendy design, coupled with the option to choose from three distinct colours –Stellar Black, Elegant Black and Drizzling Gold gives a sleek and stylish look. The side fingerprint sensor on the phone allows for easy and quick unlocking while the battery performance of 5000mAh ensures long-lasting usage. The smartphone is priced at Dhs519 and is currently available in the UAE.

HAS EYE PROTECTION MODE THAT AUTOMATICALLY ADJUSTS BRIGHTNESS LEVELS

KEY FEATURES

• Equipped with a 6.74-inch AMOLED display

• Powered by Qualcomm Snapdragon 8+ Gen 1

• Features 50MP primary, 8MP ultrawide and 2MP microscope camera

• Has a 16MP front camera

• Runs on Android 13 operating system and powered by 4600mAh battery

• Charges 100 per cent in 9 minutes and 30 seconds

• Supports 30 seconds of charging for two hours of phone calls

• Supports 1,600 charge cycles before the original battery capacity drops to 80 per cent

REALME GT3

The realme GT3, the next-generation flagship by realme with the fastest charging power of 240W, was globally launched at the Mobile World Congress 2023. Since its first generation, the realme GT Series has showcased cutting-edge technological innovations, such as GT Master Series and GT2 Pro series. The smartphone is available in two colours – Pulse White and Booster Black.

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SuperSmart by Nokia Simon by IBM iPhone by Apple Blackberry

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