Innovation & Tech June 2016 - Issue 26

26

Issue: 26 June-July 2016

Blockchain: powering the digital story . Fintech: Barbarians at the gate . Best business productivity apps . Retool existing systems for IoT sucsess

The Future is Now!

www.innovationandtech.ae

Mobile Innovation Wearable Tech 3D Printing Artificial Intelligence Internet Of Things Cloud Technology Smart City Big Data & Analytics Digital Ecosystem

19

Blockchain powering the digital story

16

www.innovationandtech.ae

fintech: BARBARIANS AT THE GATE

54

BEST business productivity APPS

26 retool existing systems for IoT success

42 VR still a long way from eliminating presence

Oracle Cloud Applications HCM

Human Capital Recruiting Talent

CRM

Sales Service Marketing

ERP

Financials Procurement Projects Supply Chain

More Enterprise SaaS Applications Than Any Other Cloud Services Provider

Copyright Š 2015, Oracle and/or its affiliates. All rights reserved. Oracle and Java are registered trademarks of Oracle and/or its affiliates.

Welcome to Innovation & Tech The leading voice in enterprise innovation

Publisher’s Note Dear Readers, Blockchain technology is fast emerging as a key area of innovation and generating huge interest, not just globally but also in Dubai. Initially confused with an exclusive offshoot of the Bitcoin movement, Blockchain technology has a range of business applications beyond finance, offering immense potential in several other applications in a variety of sectors and areas.

Blockchain will be critical if Dubai is to achieve its goal of being a leading smart city and the authorities have recognised this by saying that “it will play an important role in every transaction made through the Smart Dubai platform.”

That is a great endorsement not only for the technology but also for its applications in our lives here in the UAE as it is the first country in the region to actively take the next step and encourage use of Blockchain. Seven pilot projects by telecom operator du, Dubai Multi Commodities Centre, Dubai International Financial Centre, Loyyal, Viktor Koeing, IBM and Bitoasis are already operational in Dubai.

We are pleased to bring you an in-depth analysis of Blockchain which some say is the greatest invention since the Internet.

In addition, in this issue of our magazine we also bring you cutting edge thinking from our Think Tank on various aspects of innovation ranging from security, cloud, fintech and design.

Happy reading.

Best Regards, Shantanu A.P Publisher, SPI Group.

Get more from innovation & tech

Follow us on twitter

Click the like button

Visit our website to get the latest NEWS

Send us an email today with your thoughts

@ITechReviewME

Innovation & Tech Review

www.innovationandtech.ae

sandeep@spiholding.net

3

Contents

34

No More Excuses – Get a Grip on Cloud Security

30

16

fintech: Barbarians at the gate 52 40

better experience & cost savings drive Cloud growth How digital is transforming Retail

global IoT Security Spend to Reach $574 M in 2018

26 retool existing systems for IoT success 4

www.innovationandtech.ae

42 VR still a long way from eliminating presence

contents

SPI Group

www.spigroup.ae www.robustrak.com www.theintelligentsme.com www.innovationandtech.ae www.innovationsummit.ae www.dubai-gbs.com www.smeworld.ae

Publisher & CEO Shantanu A.P.

19

Group Editor Sandeep Sharma Assistant Editor Jinal Chheda Web Developer Raj Shekar Reddy Creative Designer Ratheesh Viswanath

Blockchain: powering the digital story

Distribution: Jerry P. Sam

Writers Anthony Sayers Alexander Rauser Chirodip Basu Roy Haider Salloum

36 i r design: a subtle mix of Art & Science

Digital Disruption, an On-going Process 47

Marc Fleschen Natalie Crampton Oscar Lansegger Rolf Haas Rashid Alshamsi Ruggero Contu sea

rch

ing

...

Advertising/subscription Enquiries:

% +971 4 2659704, 2650312 response@ spiholding.net

48

Disclaimer The publisher cannot accept responsibility for any unsolicited material lost or damaged in the post. All text and layout is the copyright of Imagine Publishing Ltd. and SPI Publishing, GMS Advertising UAE. Nothing in this magazine may be reproduced in whole or part without the written permission of the publisher. All copyrights are recognised and used specifically for the purpose of criticism and review. Although the magazine has endeavoured to ensure all information is correct at time of print, prices and availability may change. This magazine is fully independent and not affiliated in any way with the companies mentioned herein

44

54

BEST business productivity apps

Set-up specialist: gear up for expo 2020

Š SPI Publishing 2013

www.innovationandtech.ae

5

THINK TANK Chirodip Basu Roy, Head of Marketing Operations at Noor Bank Chirodip Basu Roy is a thought leader in strategic marketing, brand management, segmentation, targeting and positioning. He is a result oriented brand strategist & communications architect with 13 years of success across the marketing mix. With specialization in project management, resource utilization, revenue growth, and cost reduction, he has delivered successfully and consistently in complex, highly demanding & challenging work environments.

He has been a regular speaker at various conferences, including Gulf Media Advertising Congress, Sales Optimization and Marketing Excellence, MICE Middle East Forum, The Product development Show and Beyond CRM 2.0.

Jean-Luc Scherer, Head of Service Line Revenue Growth, Communication Services Practice at Ericsson

Telecommunications veteran with more that 18 years experience in the Mobile Industry, Jean-Luc Scherer’s expertise crosses multiple domains going from Mobile Application Development, to Social Media, BigData, M2M & Internet of Things. Passionate about the Networked Society, Jean-Luc is a regular Blogger, Social Media content curator and is also a regular speaker at IoT & Smart City industry events. As an entrepreneur, innovation coach & startup mentor, Jean-Luc can help startups from the initial concept development phase all the way to successful market introduction.

Dr. Steve Griffiths, Vice President for Research, Interim Associate Provost at Masdar Institute of Science & Technology

Dr. Griffiths holds a PhD in Chemical Engineering from the Massachusetts Institute of Technology (MIT) and an MBA from the MIT Sloan School of Management. At Masdar Institute, Dr. Griffiths has overall responsibility for research, including large-scale, collaborative research programs and centers, research development, sponsored programs, technology transfer, and research laboratories. He serves as advisor to the UAE Research Program for Rain Enhancement Science and is a Zayed Future Energy Prize Selection Committee member. He served as a member of the Middle East Solar Industry Association (MESIA) Board of Directors from 2012 to 2015 and advised the government of Alberta, Canada on provincial innovation system structuring during 2014. Dr. Griffiths is Associate Editor and member of the Editorial Board of the international journal Energy Strategy Reviews and author of various works in the energy policy and energy strategy fields.

Anthony Sayers,

Strategist at Dell

Internet of Things Business Developer and

A leading technologist with over 25-years industry experience, Anthony Sayers joined Dell in 2008. Having served in a range of senior roles focused on end user computing, Anthony is now Strategist and Business Developer for the Internet of Things, Dell OEM Solutions EMEA, responsible for designing Dell’s business and technology strategy for the commercial OEM market. In his day to day work, Anthony meets with customers, partners and industry experts to research customer needs and drive the relevant market solutions.

6

www.innovationandtech.ae

THINK TANK Aiham Al-Akhras, Head of Business Development and Operations at Fujitsu

Before his Business Development and Operations unit appointment in April 2014, Aiham was Head of Services for Emerging Markets, where he successfully grew a multi-million dollar profitable business with approximately 500 employees across 104 countries in Eastern Europe, Russia & CIS, Middle East, Africa and India overseeing sales, delivery and operations.

Aiham holds a Masters in International Business with distinction from University of Wollongong, a BSc. in Computer in Engineering from University of Sharjah, a Professional Diploma in Smart City by Rochester Institute of Technology (RIT).

He is a certified ITIL V3 Service Expert. Aiham was awarded best smart city innovative project for 2015 by RIT.

Haider Salloum, Director, Small & Medium Business (SMB) Segment

at Microsoft Gulf

Haider’s professional experiences are best described by his work over the last couple of years at Microsoft Gulf. As the Director for the Small and Medium Business (SMB) segment, Haider is tasked with helping SMEs realize their full potential, through the adoption of innovative technology and cloud transformation.

Working with SMEs across 5 countries, which were once emerging markets has provided Haider with significant scope and opportunity to learn, share and explore emerging trends in innovation within the SMB community. Whilst working with national governments, entrepreneurs and corporates, Haider seeks to continuously contribute to efforts to help SMEs thrive in their competitive landscapes.

Tarek Saeed, Senior Client Technical Advisor at IBM Tarek is the Senior Client Technical Advisor at IBM responsible for devising, developing and executing technical client-facing assignments for select clients who wish to partner with IBM on business and technology initiatives to achieve their business objectives.

He is also the Smarter Cities Technical Leader for the UAE. In this role, he is responsible for bringing together IBM’s global technology capabilities for Smarter Cities to help drive sustainable economic growth. Additionally,Tarek is a subject matter expert in the domain of Smart Machines, a new frontier in the evolution of computing.

Dany El Eid, Chief Executive Officer at Pixelbug Prior to founding pixelbug in 2012, Dany led the formation of the digital division at a stands and events company. His mandate was to attract higher footfall at clients’ stands during trade shows and events by using innovative digital techniques. He was also selected by the Qatar Foundation’s Stars of Science initiative as one the most innovative entrepreneurs of the Pan Arab region for his work in augmented reality. Formerly, Dany was a partner in digital technology and events businesses. His first marketing role in the digital space was at PUMA in 2007 where he was handling the brand's digital marketing and PR initiatives for the region. At pixelbug, he is responsible for the accomplishment of the company’s vision and mission.

www.innovationandtech.ae

7

NEWS

8

4K TV sales to grow 28% in UAE this yeaR

Dubai Holding opens 3D printing centre

Televisions with four times the resolution of Full HD, also known as 4K or ultra-high definition, will grow by 28 per cent this year in the UAE to 138,000 units.

According to research firm GfK, global 4K TV unit sales will register 614 per cent during the 2014-2017 period while sales value will grow 235 per cent during the period.

In the Middle East and Africa region, 4K sales units will grow by 1,500 per cent during the 2014-2017 period while sales value will soar by 650 per cent during the period.

"4K is driving the TV market but the next era is HDR (high dynamic range). The TV industry is going through an interesting phase as the global TV sales are heading southward but the sale of 4K TVs is heading northwards," Satoru Arai, head of Sony Middle East and Africa, told Gulf News, after launching six new Android models with prices ranging from Dh4,999 to Dh19,999on Tuesday.

Dubai: Dubai Holding on Monday said it has opened a 3D printing centre in Dubai Industrial city, to serve construction, medicines and consumer products.

The International Centre for 3D printing has research centre laboratories for testing material used in 3D printed products, according to the statement.

The centre will involve the academic sector through research and development.

Dubai Holding said the centre was established under the directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, “to make Dubai an International destination for 3D printing by 2030”.

“The new project aims to build a network of distinguished companies in the 3D printing sector by attracting entrepreneurs and innovators as well as targeting international enterprises locally and globally by offering special laboratories for 3D printing,” the statement said. “It will also offer services, professional training, facilities, storage solution, and other logistical support to strengthen this sector.”

www.innovationandtech.ae

NEWS

Telcos announce new GCC roaming rates

Telecom operators du and Etisalat will reduce its roaming rates in the Gulf Cooperation Council (GCC) states from April 1 in line with the announcement made by the GGC’s Secretariat-General.

The reduction will be applicable for local calls within the roaming country, incoming calls while roaming and text messages.

Sources close to Etisalat said that the discount on standard rates is two per cent on outgoing voice calls to the UAE or any other GCC country, five per cent on outgoing calls to the local destination, 76 per cent on outgoing SMS and up to 90 per cent on data usage for prepaid and post-paid customers.

Etisalat Q1 net profit falls 8% Abu Dhabi-listed Etisalat reported a 8 percent fall in first-quarter net profit on Tuesday.

Etisalat, which directly and indirectly operates in about 17 countries across the Middle East, Africa and Asia, made a net profit of 2.00 billion dirhams ($544.6 million) in the three months to Mar. 31, the company said in a statement. This compares with a profit of 2.18 billion dirhams a year earlier.

Analysts at EFG Hermes and SICO Bahrain forecast the former monopoly would post a quarterly profit of 1.93 billion dirhams and 1.99 billion dirhams respectively.

Etisalat said its lower profit was due to factors including higher depreciation expenses and foreign exchanges losses in the quarter against currency gains in the corresponding period of 2015.

Arabic multi-asset trading app by ADS Securities

Smart Dubai Platform rolled out

City leaders are building a new city-wide online exchange point called Smart Dubai Platform that will collect data from thousands of new sensors to be installed across Dubai, analyse the information and then share it live in real-time.

The new platform will collate data gathered from the Internet of Things, a term used to describe a digital network of sensors installed in physical objects such as roads, curbs, municipal offices, buildings or in digital devices such as smartphones.

Electronic data sensors will be installed in everything from Dubai streets and parking lots to building entrances and public parks to create a digital mosaic of human activity from which trends can be identified to help plan for the future, said backers during the platform announcement.

Billed as a “digital backbone powering the city in the near future,” the new Smart Dubai Platform will begin operation in the third quarter.

Dr Aisha Bin Bishr, director-general of the Smart Dubai Office, introduced the platform at The Westin Hotel in Jumeirah. “Today marks our next leap in becoming the happiest city on earth,” Bin Bishr said, noting the new platform will “become the central operating system of Dubai”. The new platform will benefit everyone, she said.

“The Smart Dubai Platform has been envisioned through a detailed and collaborative scoping process that placed the customer at the centre. This meticulous process has resulted in a Smart City Platform blueprint that is unlike any other globally and encompasses the full city. We are reshaping the way government services are structured to meet the needs of the customer rather than the other way around,” Bin Bishr added.

ADS Securities, an Abu Dhabi-based financial services company, launched on Tuesday a multi-asset smartphone trading application with full Arabic language functionality.

The Orex app is the first of its kind to be available in Arabic, and allows investors to trade over 90 currencies and more than 1,000 CFDs (Contract for Differences) including Forex, commodities, indices, and single stocks.

Andrew Rossiter, managing director — Global Head Information Technology at ADS Securities, said the company invested around $3 million to $5 million a year on the app over the past two years since it started developing it.

www.innovationandtech.ae

9

News

Visa Opens Regional Innovation Center in Dubai New center designed for technologists, financial institutions and developers to co-create the next generation of payment and commerce applications

Visa (NYSE:V), a global payments technology company, today opened its innovation center in Dubai Internet City (DIC), the region’s largest information and communications technology community.

This center will serve the Central and Eastern Europe, Middle East and Africa (CEMEA) regions and is part of a network of new innovation centers that Visa is opening around the world over the course of 2016 and 2017.

The new 4,000 square foot facility in the heart of Dubai Internet City supports Visa’s commitment to drive cashless

10

www.innovationandtech.ae

economies throughout the region. The Dubai facility is designed to replicate the success of Visa’s flagship innovation center, One Market in San Francisco and the Asia Pacific innovation center that recently opened in Singapore.

“The UAE has been among the leaders in the region in adopting and promoting the acceptance of innovative technologies.

Fostering a knowledge economy is one of the four pillars outlined in the UAE Vision 2021, highlighting the country’s commitment to technological innovation,” said Kamran Siddiqi, group executive, CEMEA, Visa. “The country’s strategic location, which in itself is a diverse and exciting part of the world, makes it an ideal place for us to build this facility where Visa will work alongside clients and partners to imagine and build creative, cuttingedge digital commerce and payment

experiences.”

As the payments industry shifts from plastic to digital and new entrants bring innovative payment options to market, Visa’s mission is to ensure that every Internet-connected device, appliance and wearable, can become a secure place for commerce. The innovation center in Dubai, along with Visa’s other global network of innovation facilities, is a key part of the company’s focus on fostering innovation and promoting “open commerce” by enabling clients to: • Engage: The center’s immersive environment provides clients and partners with everything they need to work on new digital solutions that will address important business needs and opportunities • Experience: Visa utilizes human-

News

centered design and new technologies to ensure any product development delivers real benefits for users • Collaborate: Interact with Visa payment experts and access Visa technology, including APIs and SDKs available through Visa Developer Platform – all in a physical space designed to encourage dynamic interaction, real-time experimentation and rapid prototyping

Parks, said: “We are very proud to partner with Visa to further foster and support innovation in the region.

This is a major strategic pillar for TECOM Group, which has played a vital role in Dubai’s diversification and is now supporting efforts to transform the Emirate into an innovation-led economy and Smart City.

“As part of TECOM Group’s innovation strategy, we have led major innovation initiatives including a strategic partnership with Smart Dubai, launch of the in5 Incubation arm in 2013 to support the growth of entrepreneurs and startups across our different verticals thus enforcing a solid entrepreneurial ecosystem in the region, as well as the launch of the Innovation Hub which will see over 15,000 business professionals prosper to stimulate innovation and excellence across technology, new media, education and life sciences.

“Visa’s decision to launch its innovation center in DIC is a testament to our partnership as well as the sector development across the UAE and our leading position in the region. We look forward to working closely with Visa to take the industry into further heights in innovation and creativity."

The CEMEA innovation center is led

by John McGuire who will work with a dedicated team of veteran fintech experts, the larger Visa network and our partners to conceive and develop commerce and payment prototypes.

“At its core, Visa is a technology company and we are constantly evolving to provide immersive, collaborative and localized experiences for our clients and partners in CEMEA,” said John McGuire, vice president of innovation and strategic partnerships and head of the Dubai Innovation Center. “Sitting at the virtual crossroads of tech and finance, Dubai is the ideal place to bring this collaborative approach to life for the diverse needs of this region.”

Visa Signs MOU with TECOM Group Visa and TECOM Group also signed a Memorandum of Understanding (MOU) attended by Dr. Amina Al Rustamani, Group CEO, TECOM Group and senior management members of TECOM and Visa, at the launch today. In line with Visa’s collaboration model and TECOM’s vision to encourage and foster innovation, entrepreneurship and digital advancements, the MOU between the two organizations will include a number of collaborative elements including: • An agreement to support the local startup and entrepreneur community through mentorship and guidance programs • Leveraging each other’s networks for the promotion of digitally advanced and innovation related solutions • Collaborating on pilot programs, tests and trials within the TECOM Group • Co-launching Design Thinking workshops and supporting local hackathons and developer workshops Malek Al Malek, CEO, TECOM Business

www.innovationandtech.ae

11

NEWS

Facebook , Twitter , Google’s YouTube & Microsoft agree to EU code of conduct from their websites within 24 hours last year and even launched an investigation into the European head of Facebook over its alleged failure to remove racist hate speech.

The code of conduct is largely a continuation of efforts that the companies already take to counter hate speech on their websites, such as developing tools for people to report hateful content and training staff to handle such requests.

EU governments have been trying in recent months to get social platforms to crack down on rising online racism following the refugee crisis and terror attacks, with some even threatening action against the companies.

As part of the pledge agreed with the European Commission, the web giants will review the majority of valid requests for

removal of illegal hate speech in less than 24 hours and remove or disable access to the content if necessary. They will also strengthen their cooperation with civil society organisations who help flag hateful content when it goes online and promote "counter-narratives" to hate speech.

Germany got Google, Facebook and Twitter to agree to delete hate speech

Twitter has suspended over 125,000 accounts since the middle of 2015 for threatening or promoting terror acts, primarily related to Islamic State.

The United States has undertaken similar efforts to entice the cooperation of tech companies in combating online radicalisation, focusing on promoting "counter-narratives" to extremist content.

Mergermarket predicts UAE Telecoms, Media & Technology to be M&A hotspots

Mergermarket, the world's leading news and intelligence service for mergers & acquisitions, has released its Global M&A Heat Chart that indicates potential future M&A activity based on companies that may be targeted for mergers or

12

www.innovationandtech.ae

acquisitions.

The Heat Chart suggests that the Middle East's Telecoms, Media & Technology (TMT) sector could see the strongest levels of M&A activity in 2016, with 27 companies currently up for sale or likely to come to market.

The UAE is likely to be the hottest regional market for TMT deals, with media houses and software development companies the most likely to be sold. The Heat Chart also shows that, in spite of low

levels of Energy sector M&A in the region this year, there are a number of potential assets in the market that could drive more deals in 2016, albeit at low valuations.

Kirsty Wilson, Global Research Editor at Mergermarket, commented: "Our data currently suggests that TMT in the UAE will lead regional M&A activity in 2016.

Based on the last six months of research, we consider this to be a 'hot' sector, so it is no surprise that the highest valued UAE deal of Q1 was the $292 million acquisition of e-commerce platform Souq. com by Standard Chartered Private Equity limited, Baillie Gifford and International Finance Corporation. We're also expecting a relatively high level of activity in the Energy, Mining & Utilities sector, with 15 potential mergers and acquisitions in the pipeline."

NEWS

Middle East businesses hit by more cybercrime than global average it difficult to identify when an attack has taken place: many only discover it when third parties or clients report suspicious messages Businesses in the Middle East are more likely to have suffered an incident related to cybercrime, according to a report by consulting firm PricewaterhouseCoopers.

85 per cent said of Middle East respondents said they have been attacked, compared to the global average of 79 per cent.

Around 18 per cent of respondents in the region have experienced more than 5,000 attacks, compared to a global average of only nine per cent — which is higher than in any other region.

The report states that companies, especially in the Middle East, often find

or requests for funds.

In 2015, 38 per cent more security incidents were detected in the Middle East than in 2014.

PwC Middle East’s Global State of Information Security survey 2016 looks at how the survey results from over 300 Middle East companies compare to those in the rest of the world, and how businesses are responding to rising cyberrisks.

“While companies in the region invest in security technology and protection such as cyber insurance, they are often not supported by the people, processes

and governance required to provide real security. This can create a false sense of security, and our survey findings suggest that these challenges are only likely to increase,” said Mike Maddison, PwC Middle East Partner, Cyber Services Leader and Head of Risk Assurance Services comments.

Given ever greater connectivity, he said that technology convergence, as well as more assertive regulatory and legislative agendas, the sophistication required will continue to increase.

While 85 per cent of companies in the Middle East have established a globally recognised security framework to tackle these attacks, he said that there are other measures that organisations need to actively focus on.

Digital is no longer the “sole domain” of IT and there are very real risks in allowing it to remain so: not just the risks of lost opportunity, but financial, commercial and reputational risks as well. Currently, less than 20 per cent of organisations have a strong awareness programme.

UAE buildings to be mapped in a single app

Finding your way around Dubai might be a challenge, buy for some, the task can get overwhelmingly confusing when visiting unfamiliar nearby emirates.

To simplify the process of giving

directions to buildings, officials at Dubai Municipality are currently working on charting all buildings across the seven emirates.

“The aim is to have all buildings in the UAE installed with a plate, displaying the location’s 10-digit geo-coordinates,” according to Abdul Hakim Malek, director of the Geographic Information Systems (GIS) Department at Dubai Municipality.

He said the municipality’s smart mapping

system ‘Makani’ has already been shared with Ajman, Umm Al Quwain and Fujairah, “and the deal has just been finalised with Ras Al Khaimah.”

The Makani app is accurate up to one metre of the pin selected on the map, and can also be scanned by smartphones using the QR code reader apps — providing a digital copy of the number that can be quickly shared online.

More good news is in store for taxi users, as Malek also confirmed that the Roads and Transport Authority in Dubai will integrate the Makani app into their GPS system.

“This means that customers can give their 10-digit coordinates to taxi drivers, and get to their destination without any hassle,” said Malek.

www.innovationandtech.ae

13

News

UAE is world’s third most connected population

Hong Kong and North America have the world’s most highly connected consumers but people in the UAE are closing in fast.

The UAE, which was ranked eighth globally last year, placed third this year

out of the 78 countries surveyed in eight world regions, according to the GfK Connected Consumer Index. The report was designed to offer a fast and direct comparison of how highly connected each population is. Saudi Arabia retained its sixth position.

The new index ranks countries that have the world’s most connected consumers based on 11 different device

types, including smartphones, tablets, mobile PCs, desktop PCs, wearables, smart TVs, TV set-top boxes, video game consoles, e-readers, connected cars and smart homes. It combines those results together with trends over the last five years.

Looking at the GfK Connected Consumer Index ranking for the last two years, Hong Kong and North America (US, Canada and Mexico) hold steady as having the world’s top two most highly connected populations.

“We are seeing some macro trend increases in connectivity across all countries. For high growth markets, especially across the Middle East, Africa and emerging APAC, the dominant trends remains smartphone adoption,” said Kevin Walsh, Director of Trends and Forecasting at GfK.

Internet connectivity could add $380b to Middle East economies

The Middle East could add $380 billion to its regional economic output by 2020 if it can find a way to bring more than 200 million unconnected (62 per cent of the regional population) online.

The current internet penetration rate (people who have access to the internet)

14

www.innovationandtech.ae

in the Middle East is put at 38 per cent.

The global average is 44 per cent.

To bring the rest of the world online, Bahjat Al Darwiche, Partner at Strategy& , said that internet access has to be easier and cheaper, it should provide people with reasons to go online, and support people as they discover the internet and use it for the first time.

According to a study conducted by Strategy& on behalf of Facebook, global internet growth is slowing down despite

the ongoing digital revolution and the number of new internet subscribers has grown in single digits since 2013. The slowdown stems from barriers to internet access that is created by deficiencies in the critical markets that deliver a meaningful internet experience.

FINTech

16

www.innovationandtech.ae

FINTech

I

n ancient Rome, the expression “barbarians at the gates” was used to describe ‘outsiders’ or anyone of a foreign extraction thought to be an enemy of the empire. Later, in the 1980s, it was used in reference to equity investors, who came to be known as ‘corporate raiders’ or ‘boardroom barbarians’. In general, the term has come to symbolize perceived threat from a seemingly ineffectual adversary that may result in a hostile takeover. In that context, it aptly describes the scenario that financial institutions face today with the infiltration of technology in every walk of life, making it no longer possible for banks to overlook this aspect. The question is – should banks perceive technology as a threat or a welcome opportunity to reinvent themselves?

The Rise and Rise of Digital Anarchy Gone are the days when wearable technology, fingerprint recognition and other futuristic devices were simply props used in James Bond movies.

Today, wearables are not only used to authenticate the wearer’s identity but to also process payments seamlessly.

A Canadian company claims to have enabled the 'world's first payment using biometric heartbeat authentication' and that’s just the beginning. Japanese banks are now starting to experiment with humanoid robots for customer service and for facilitating round-the-clock banking and multilingual communication.

Furthermore, there are pilot projects testing the efficiency of deploying drones to deliver documents, card replacements and carrying out vigilance.

an established mode of currency and payments. 3D printing is being touted as a game changer in the design process for faster and cheaper product development. As per a MasterCard Safety and Security Survey conducted in 2015, 77 % consumers believe that new technologies in the payments sector are having an overall positive impact on personal security. With mobile banking going viral, banks of the future will soon be in our pockets or on our wrists.

Pursuing Innovation for Innovation’s Sake?

When Citi launched an app for the new Apple Watch, it was announcing a paradigm shift towards FinTech – the culture of using disruptive incumbent financial systems to boost efficiency and to offer personalized customization.

Following its lead, several payment gateway banks are starting to position themselves as tech companies that provide banking instead of banks that have tech capabilities. Does the repurposing of technology to replace traditional banks indicate that people need banking, not banks? Does this signal a departure from traditional banking as we know it?

While it’s true that banks are now adopting solutions, services and marketing to position themselves as

‘digital’ movers and shakers, the fact remains that it’s easy to get lured by the terminology without actually deriving any value from it by way of customer loyalty, engagement or increased profits. Simply prompting a series of high-tech apps to make up for a clunky, traditional banking infrastructure and mindset is akin to having a tunnel vision because technology for the sake of it will prove an ineffective, not to mention expensive, distraction, which will only inhibit the organization’s ability to adapt.

In absence of a concrete game plan, it’s easy for big banks to lose the plot and get distracted from the urgent goal, i.e. the need to break through the conventional walls of retail banking and create value that the digitally native millennial generation craves.

Intuitive. Intelligent.

Individual - Roadmapping the FinTech Future Technology by itself is simply not enough deliver a competitive advantage; banks need to invest in creating Technology Roadmaps that help translate strategic, long-term visions into executable implementations while remaining focused on inclusive growth that will pave the way for the future. Technology roadmapping is a collaborative, innovation planning effort within an organization to ensure

With deep mobile penetration, digital and phone-based remittances and payment platforms such as wallets, are catching on as a valid trend. Bitcoin is fast gaining popularity as

www.innovationandtech.ae

17

FINTech

integration, automation and digitization of workflow for smooth transaction processing. Whether banks want to posture technology in order to a) redefine the future of banking b) adapt to the future or c) simply reserve the right to play, the roadmap will provide a means to help forecast innovations and, in turn, provide a blueprint of ideas and a framework to implement them.

Below are some reasons to consider using technology roadmapping to support your FinTech ecosystem: - Keep pace with the changing and everevolving customer needs and devise solutions that can keep pace with, and are tailored to, the evolution of the digital world - Facilitate the integration of new technology into your existing business, planning processes, organizational structures and information systems

- Focus on benefiting from the digitization as a means of reducing overheads, improving security and removing inefficiencies - Identify new business opportunities for exploiting technology and reinventing the banking experience

growth, more enriching jobs and better value for the consumer. Technology is an ally - a key enabler towards this goal and banks must make a concerted effort to understand it and use it effectively to ensure that the barbarians we so fear are simply opportunities knocking on the door.

- Reveal gaps in the market and bring in technical know-how, competencies and expertise from other disciplines even if they are traditionally not associated with finance - Connect opportunities to partner with the flourishing FinTech community for faster go-to-market products and rapid prototyping Globally, banks are rolling out a broad array of initiatives that place bold bets on new digital technologies geared towards wowing and retaining customers. Since technology takes time to proliferate, the focus should be on promoting a culture of rewarding innovation, designing better work flows and creating new business models that will deliver higher

Chirodip Basu Roy, Head of Marketing Operations at Noor Bank

|m||y |||v|||||y| |||||| |||

||f|| em||

k|y|l ||||||||||| |h|||||| |||||

|ttih|| m|ll| |||||| |||

w| |||||| |p|||| wh||h ||v|||| ||ti||| |x|||| ||| |||||| m|me|||l| |xp|||||||| eďŹƒ|| |||l|||| || || || |||| || ||| |||||| ||||||| |||||||||| |||||| ||| tttttttttttttttttt||eeeeeeeeeeeeeeeeeeeeeeee||wwwwwwwwwwwwwwwwww

cover story

Blockchain: powering the digital story

The death of bitcoin has been proclaimed several times but there are still thousands of people working on making the world’s first digital currency a success. The bitcoin network has been running without interruption for seven years now; a feat no banking system can claim. Bitcoin and its underlying blockchain technology—an online ledger that records every bitcoin transaction—represent a fundamental innovation that can dramatically speed up transaction times. The first step is replacing our need for financial middlemen. Next, we can restructure notaries, land registries, stock markets and much more.

What began as a small experiment is now a rapidly expanding ecosystem. There are so many people using it now that we have

to plan for more capacity.

According to Bloomberg, bitcoin was the best performing currency in 2015. Why? More than 5 million new users started transacting in bitcoin last year alone. More importantly, the total transaction volume has more than doubled over the past 12 months. In five years, hundreds of millions of users will be sending money on the internet as easily as they send chats, and the only obituaries being written will be those of the traditional banks.

One of the advantages of Bitcoin is that the money can be transferred in 10 minutes, on average, using software. In contrast, a credit card transaction appears to be instantaneous but usually takes about three days and several middlemen for the funds to actually be moved.

What is Blockchain?

The technology most likely to change the next decade of business is not the social web, big data, the cloud, robotics, or even artificial intelligence. It’s the blockchain, the technology behind digital currencies like Bitcoin.

www.innovationandtech.ae

19 19

cover story There is one part of the bitcoin story that has the chance to impact nearly everyone: the blockchain, the technical leap that underpins the anonymous, distributed currency. Blockchain technology has the potential to cut costs, improve efficiency and increase transparency by replacing a single central authority with a decentralised ledger that can be verified by a network of computers. Major banks, such as Barclays and HSBC, are already researching ways it can be implemented to improve services.

A Blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. It uses cryptography to allow each participant on the network to manipulate the ledger in a secure way without the need for a central authority. Simply put, it is a transparent online ledger, a secure cloud where information is saved in a chain. This means you can track the history of anything linked using the Blockchain and the number record is kept on the internet for all to see.

The implications of this on all forms of innovation from travel to identity registration is world changing. Blockchain could do for the transfer of value, what the internet did for the transfer of information.

It is a forward looking, breakthrough

technology that has been created for the digital age, allowing people and businesses to create products that need a layer of trust with unparalleled security. This resilience in security has made the Blockchain widely used as the backbone to secure cryptocurrencies such as Bitcoin.

working in the postal service or selling fax machines before the spread of e-mail. Part of the confusion was that it was free and not owned centrally. This is also true of Blockchain. It’s out there, and the exciting part is that human ingenuity will take us to places we have not yet imagined.

Benefits of Blockchain

The Bitcoin Blockchain

It could be possible for voting to become fraud-free, verifiable and nearly instant using a blockchain. A blockchain could also move money from your bank account more quickly than the bank system, potentially lowering prices on the 3 to 4 percent fees credit cards often charge. Rather than spend three days clearing stock trades, brokerage houses could trade nearly instantly and know that stocks aren’t accidentally appearing in multiple deals. As health record go digital, the blockchain could keep them mobile while making sure they’re secure.

Like a lot of new terms that are bandied about, it means different things to different people. It is a different way to keep account of information. The Bitcoin blockchain, for example, is a distributed public ledger that records the entire history of bitcoin transactions (the movement of BTC credits from account to account), where the ledger is updated, maintained, and kept secure by profit-seeking accountants (miners) who are incentivized through a clever algorithm to act in the interests of the Bitcoin community (their actions are also publicly observable so any shenanigans, should they occur, are likely to be short-lived.) There are many possible variations of this basic idea.

Bitcoin's underlying blockchain technology could be deployed to track government grants, student loans and other tax spending.

As with many new technologies, skeptics are preferring to dismiss something they do not understand. Think of those

currencypayments node

coin internet business money concept protocol

litecoin money bitcoin contract crypto

Blockchain

transaction virtual data

Now, it just so happens that money is just a type of ledger. The notion of money as a record-keeping arose because people are opportunistic and cannot be trusted.

This is what Kiyotaki and Moore (2001) meant when they quipped that Evil is the

technology digital

Blockchain bitcoin market cryptocurrency finance market data

network

cryptocurrency money exchange contract

exchange network litecoin exchange digital network contract business contract money electronic exchange money business finance

currency virtual finance business electronic internet protocol

money technology data virtual virtual data digital money cryptocurrency market digital litecoin transaction ledger money crypto

transaction protocol cryptography ledger exchange digital cryptocurrency technology business business

litecoin

network

exchange

protocol

coin

cryptocurrency money business exchange smart transaction electronic crypto concept data

electronic market ledger Blockchain

cash Blockchain

20

www.innovationandtech.ae

market finance

protocol

data

data

network

cover story

UAE’s push into the Blockchain future In another example of Dubai's fearless forays using new technologies and avant-garde concepts, the UAE Prime Minister’s Office formed the Blockchain Innovation Group to research ways with which Dubai can build new Blockchain based solutions and offer them to the world. During its first phase, the Blockchain Innovation Group is looking at possible uses for this technology in different sectors where security of information is required and trust is of utmost importance. These include travel,

Root of All Money. A well-designed recordkeeping system constitutes a solution to a social problem (the existence of people willing and able to fabricate information for their private benefit at the expense of the community). Similarly, money can be viewed as a solution to a social problem.

Monetary policy implications of Blockchain technology 1. Currency competition: To a domestic central bank, Bitcoin looks just like a foreign currency which, of course, it is. Viewed from this perspective, Bitcoin presents central banks with an old and familiar threat: currency competition. The willingness and ability of domestics to substitute into a competing currency with a more stable value will put limits on the ability of a government to use the inflation tax as a revenue device. Governments sometimes go to great length to restrict the use of currency substitutes. The new threat poised

by Bitcoin is that it's likely going to be much more difficult to enforce domestic currency controls.

2. Maturity transformation using a foreign currency: While Bitcoin is unlikely to displace a major world currency any time soon, it's likely to play a prominent role in certain niches, it raises several scenarios.

Could you imagine banks offering loans denominated in BTC and, more importantly, redeemable on demand for BTC? How can a central bank act as a lender-of-last resort when, in a crisis, people want their BTC bank deposits and not USD or AED?

the property sector, personal identity, education and even healthcare.

In Dubai, there are companies that have already set up businesses that use the security that Blockchain offers for innovative products. One such company is Umbrellab.com. The founders, Tarik Kaddoumi and Sergey Yusupov have already created a product that allows people to securely load their mobile phone account with credit using Bitcoin.

“The beauty of this technology is that someone in America can load mobile

set of assets that investors perceive to be "safe" evidently varies over time. Could BTC be the next great safe asset? Maybe yes, maybe no. What if BTC is regarded a safe asset in our next crisis, the way CUF is perceived to be in Europe? If this happened in the U.S., it would mean a large depreciation in the USD/BTC exchange rate, price inflation (measured in USD), price deflation (measured in BTC) and, of course, all of the other wonderful things that accompany financial crises. Except that the Fed would have no direct control over the supply of BTC. 4. Securities exchange: Improvements

phone credit onto their mother’s mobile phone, even if she is in India. It is both secure and is there within seconds,” said Kaddoumi. However, this system is not available in the UAE yet. “We use the underlying Blockchain technology in our product, Piiko.com, that will allow people to have digital contracts with unique security and trackability. The system means payment can be tracked without compromising the security of the information or the owners, meaning it will remain private,” explained Yusupov.

in securities exchange brought about by the application of blockchain (or other) technologies has the potential to release billions (or more) of dollars in collateral assets into the market place. The effect of this is likely to lower the liquidity premia on USTs, leading to higher interest rates. The implication for the treasury is obvious, but clearly any force that is likely to impinge on the structure of interest rates is also relevant for monetary policy.

5. Financial stability: Proponents of blockchain technology point out that it has the potential to remove opacity in financial markets, something that would surely

3. The safe asset phenomenon: A safe asset is not a risk-free asset--it's an asset that people flock to in times of crisis. The

www.innovationandtech.ae

21

cover story

lead to a more stable financial system.

However, it's worth pointing out that the leading economic theory of bank sector fragility, the Diamond and Dybvig model, does not rely on the existence of opacity in the financial market. In that model, the portfolios of banks are perfectly transparent. A bank run may nevertheless be triggered by the expectation of a mass redemption event, which subsequently becomes a self-fulfilling prophecy.

media. Safe assets tend to be "simple" assets. Historically, commodities such as salt, precious metals, or coined tokens have been safe assets. The whole purpose of coinage was to make objects easily recognizable without much effort.

Cash and gold are "simple" objects. The fact that they pay no interest makes them even simpler. This type of informational symmetry appears to be in high demand in times of financial uncertainty.

6. Central bank digital cash: The existing structure of money and payments (including central bank design) was built for the pre-Internet world. The world is now changed and we must deal with it. Among other things, there is no reason why, in principle, central banks could not offer online digital money accounts for the public.

I'm thinking here of a basic utility account, a place to keep your money safe and pay bills. There are a number of advantages to consider. First, there would be no need for deposit insurance since the central bank accounts have no default risk (they can just print the money, after all). Second, cash managers at large corporations could simply park their money overnight at the central bank, rather than seek collateralized lending arrangements (repo) in the shadow banking sector. Third, the cost of maintaining the paper money supply can be eliminated. Fourth, it is easy to pay interest (possibly, negative) on digital money accounts, leaving central banks with an additional monetary policy tool.

Bitcoin could be the world's next great safe asset. At least, it certainly seems to have all the properties that are desired in a safe asset. Importantly, it is a "simple" asset. It's simple in the sense that it's a pure fiat object--the monetary objects (called bitcoin) constitute no legal claim against anything of intrinsic value. Bitcoin is simply a record-keeping technology (and economists have known for a long time that money is memory). It pays no interest.

Possession corresponds to ownership (unless counterparties are involved). The ledger has proven itself secure.

Is Bitcoin a Safe Asset?

The dollar price of bitcoin can be quite volatile. One can easily gain or lose 50% over a very short period of time. So if we're talking about an asset that offers a stable rate of return, Bitcoin is not it.

If you are thinking about an asset that people flock to in bad or uncertain economic times, then bitcoin fits the bill. In normal times, it's an asset that is held despite having a relatively low rate of return, perhaps because of its use as a hedge, or because of its liquidity properties.

A safe asset is an object with attributes that traders can mutually agree on very quickly and at little cost. Objects with this property tend to become monetary instruments or, to use a more broad term -- exchange

22

www.innovationandtech.ae

Now one might object that Bitcoin is not that simple, not to the average person on the street, at least. Bitcoin consists of 30MB of C++ code. And the algorithm that governs the accuracy and security of the ledger can be hard to understand. But liken this to the way most people understand how their car engine works. We have a vague notion of how it works but all we really know for sure is that our collective experience with the technology has proven useful. We also know that there are mechanics out there that do know how a car engine works. Because the Bitcoin code is open source software, attempts to modify the code for

personal gain at communal expense are easily detectable through expert eyes. And we trust that there are many expert eyes on the watch.

Finally, Bitcoin has a very simple monetary policy. Essentially, the policy is to keep the money supply fixed (actually, it will grow asymptotically to a fixed number, 21 million units).

Will bitcoin replace money?

Bitcoin makes for lousy money. If it isn't the unit of account, users are subject to extreme exchange rate volatility. In a world where it is the unit of account, a "flight to safety" event would cause an unexpected and severe deflation. And while a Bitcoin monetary system may free people from the inflation tax, it won't free them from more general forms of taxation. However, even if Bitcoin is not a particularly ideal monetary instrument, this does not preclude it from serving as a safe asset or longer-term store of value. Once market penetration is complete, its return behavior is likely to mimic the return behavior of any

cover story

other safe asset. Safe assets generally earn a low expected return (that is, they are priced dearly). Investors can expect to earn unusually high returns in a crisis event. But if you buy at the top, you can expect to realize unusually high losses when the crisis subsides. In short, it's a great investment -- assuming you can predict when a crisis will occur and when it will end!

It’s not often you hear “back office” and “sexy” in the same sentence, and it may never happen again. But the changes coming to how corporations move stocks and deeds, as well as manage digital rights, could amount to a revolution that could rid the world once and for all of the bibles of paperwork created by things like real estate transactions. All this is happening thanks to a technological outgrowth of the digital currency bitcoin called the blockchain.

25 Top Blockchain Startups Name

Product/services

Category

21 Inc Twitter: @21

21 Bitcoin Computer is the first computer with native hardware and software support for the Bitcoin protocol. Developers use it to build bitcoin-payable apps and services.

Infrastructure

37coins Twitter: @37Coins

37coins is a bitcoin wallet for the low-teched and underbanked. It makes financial transactions as simple as sending a text.

Send and receive Bitcoins

3D Plex Twitter: @3DPlexLabs

Empowering digital to physical development loop through 'smart' 3D Printing

Decentralized Manufacturing

4G Capital

Donors can use the application to fund small businesses in Kenya using digital currency.

The money lent is converted and disbursed to the businesses using 4G Capital's transactional system.

Financial Services

AAABlockchain

We take the banks of today and propel them into the future using the blockchain, By transitioning them from an outdated interest model into a blockchain commodity earnings model.

Blockchain Consulting

Abra Twitter: @AbraGlobal

Abra is the world's first digital cash peer-to-peer network. Users can send or receive money or pay for things instantly, privately, and securely with or without a bank account. Abra Tellers represent a global, shared network of people facilitating the movement of money.

Payment & Asset Network

Acronis

Acronis has launched a strategic initiative to develop applications using blockchain technology for data protection. As a global leader in hybrid cloud data protection, Acronis is extending its data storage and file sync & share solutions with blockchain technology to monitor data integrity and guarantee validity at all times

Compliance & Security

Virtual economy can be more real and effective with blockchain and smart contracts.

Gaming

The Hyperledger Project To create a flexible blockchain system that can power everything from banks to rental cars and digital movie rentals, businesses are going to need an open source programming project even bigger than bitcoin. That’s where the Hyperledger Project comes in.

The Hyperledger is part of Linux Foundation, and creates projects that are open source, meaning they can be shared or edited by anyone. The beauty of the open source system is that multiple companies can share the work of what is usually the least profitable part of technological development: the unsexy libraries and cryptography standards that underlie systems.

As with any technology with the power to change things, a host of companies are eager to claim their share as early as possible; giants like IBM, Accenture, Fujitsu, Intel and Hitachi have all signed on to the Hyperledger project.

Aira AirBitz

At Airbitz, we aim to bring secure, decentralized technologies to the next billion users through amazingly simple yet feature rich applications focused on ease of use and ease of security. Our focus is to deliver software, services, and products with an amazing user experience, both visually and functionally, simplifying this advanced technology and delivering it to the masses while still retaining core principles of decentralization and privacy.

Airlock

Electronic Security

Compliance & Security

Akasha

A Next-Generation Social Media Network

Social, Media & Content

How to invest in the blockchain While critics are still dubious of the future viability of the digital currency bitcoin, at least one group sure isn’t: venture capitalists. VCs pumped more investment into bitcoin and blockchainrelated startups last year than in any

Wallet

Compliance & Security

www.innovationandtech.ae

23

cover story 25 Top Blockchain Startups Name

24

Product/services

Category

Align Commerce

Send and receive cross-border remittances

Financial Services

Allied Peers

Simple blockchain-based insurance engine.

Planned release of platform and source code in late 2015.

Infrastructure

AlphaPoint

Fully hosted options available. Customize and launch your own digital currency and Bitcoin exchange in less than 20 days

Digital Currency

Altoptions

Bitcoin Options Market

Financial Exchanges & Trading

Amiko Pay

A de-centralized network for fast, secure, cheap and privacy-friendly off-blockchain Bitcoin transactions.

Payment Processing

Ampliative Art

Ampliative Art is a new, empowering art procedure which aims to enhance the conditions and prospects of art actors.

For that, it proposes to develop a reciprocitybased web platform with which those actors may to contribute to the art community and be rewarded through alternative means.

Social, Media & Content

Antpool

Mining pool run by Bitmain Tech Ltd.

Infrastructure

ANX

US Bitcoin Exchange

Financial Exchanges & Trading

Anx International

ANX INTERNATIONAL is a FINTECH (Financial Technology) company that is helping companies and institutions harness the advantages of Blockchain. We have team of techies and financial professionals with a passion for digital assets innovations.

Blockchain Consulting

Anycoin Direct

Buy and sell Bitcoins and other cryptocurrency easy, fast and secure at AnycoinDirect.eu

Financial Exchanges & Trading

API Network

Open source marketplace for APIs

Infrastructure

Appii.io

Verification of work experience and qualifications for employers

HR, Recruitment & Payroll

Applied Blockchain

Applied Blockchain builds private blockchain applications. We enable businesses to harness the innovation and potential of blockchain technology, the distributed ledger, and, in particular, smart contracts.

Infrastructure

Arcade City

Decentralised uber

Sharing Economy

www.innovationandtech.ae

previous year—nearly $1 billion. They're keeping this industry hot, even if we haven’t yet seen a so-called “killer app," a use case for bitcoin that would compel the average person to care. And it isn’t just investors leading the charge—it’s a handful of key executives, thinkers and even policy people.

Can a private, non-institutional investor somehow invest in the blockchain? The short answer is: not directly. But there are three roundabout ways you could invest in the bitcoin blockchain or the broader, Wall Street concept of blockchain.

If you believe in the strength of the bitcoin blockchain, the best way to invest is to buy bitcoin. Whether you want to do that for price-speculation purposes or simply out of curiosity to own a nascent asset class, there are myriad ways to obtain some easily, from exchanges like Coinbase, Circle, Bitstamp or Kraken.

A second would be to buy stock in the banks that have joined up with R3, such as BBVA (BBVA), BNP Paribas (BNP.PA), Citi (C), Credit Suisse (CS), ING Group (ING), JPMorgan (JPM), Royal Bank of Scotland (RBS), UBS (UBS), and Wells Fargo (WFC).

Of course, for bitcoin true believers, buying bank stocks would defeat the purpose of a cryptocurrency designed to avoid traditional banks.

Or you could buy shares in the Bitcoin Investment Trust (GBTC), which passively holds bitcoin to track the price (it's similar to the GLD gold trust) and began trading publicly over the counter last year. The trust was launched by Barry Silbert of the Digital Currency Group, which has invested in 75 bitcoin and non-bitcoin blockchain startups, and recently bought the news site CoinDesk.

Solving the problem of IP in a digital age During the first generation of the internet, many creators of intellectual property were not properly compensated.

Musicians, playwrights, journalists, photographers, artists, fashion designers, scientists, architects, and engineers were not only beholden to record labels, publishers, galleries, film studios, universities, and large corporations (vestiges of the pre-digital age) —these inventors now also had to deal with digital piracy that became possible on the web.

cover story better sharing economy Most so-called sharing economy companies are really service aggregators. They aggregate the willingness of suppliers to sell their excess capacity (cars, equipment, vacant rooms, handyman skills) through a centralized platform and then resell them to users, all while collecting a cut off the top and valuable data for further commercial exploitation.

Opening up manufacturing 3D printing is proving to be another revolutionary technology that is moving manufacturing closer to users and bringing new life to mass customization.

But today, makers still need centralized platforms to sell their wares and have trouble protecting the IP of their creations. With blockchain, data and rights holders could store metadata about any substance, from human cells to powered aluminum, on the blockchain, in turn opening up the limits of corporate manufacturing while also protecting intellectual property. New markets could enable buyers and sellers to contract more easily in an open market.

IoT The so-called Internet of Things will need blockchains to manage ultimately trillions of daily transactions. Traditional financial services companies cannot manage micropayments and settle payments, such as when a factory light purchases power from a public power auction. The Internet of Everything needs a Ledger of Everything.

Changing enterprise collaboration Today, collaboration tools are changing the nature of knowledge work and management inside organizations. But there are clear limitations to today’s suites of tools, as we still need central intermediaries to establish trust and coordinate much of the capability. This creates an opportunity for blockchainbased systems. For example, if every employee had their own elaborate profile, which they owned and controlled, employees and companies would be able to keep their data, rather than give it to large social network companies. If current development

projects, such as Enigma, being run out of MIT, are any evidence, blockchain social networks will have dramatically richer and more customizable functionality, where data is protected and consumers empowered, compared to incumbents. Existing vendors will either face disruption or embrace blockchain technologies to deliver much deeper capability to their customers.

Banking will change with Blockchain Authentication of identity and reputation Today we rely on rating agencies, financial data analytics firms, and retail and wholesale banks to establish trust, verify identity in a transaction and decide who merits access to the system.

In contrast, reputation accrues on the blockchain itself. Blockchain technology lowers and sometimes eliminates the need for trust altogether in certain transactions.

Payment system Payment card networks and money transfer services solve the double-spend problem, making sure that no dollar is spent twice as it moves from one person to another. The blockchain can do this by consensus for the movement of anything of value — currencies, stocks, bonds and titles — of any size or distance, dramatically reducing friction and democratizing economic growth and prosperity.

Savings Retail and investment banks, brokerage houses, and asset management firms are the repositories of value. The average Joe uses a safe deposit box or a savings or checking account. Large institutions use socalled risk-free investments such as money market funds or Treasury bills.

The blockchain can replicate all these instruments peer-to-peer.

Loans Retail, commercial and mercantile banks along with credit scoring and rating firms facilitate the issuance of credit card debt, mortgages, corporate and municipal bonds, T-bills, and assetbacked securities. On the blockchain, anyone could check creditworthiness before issuing, trading and settling

traditional debt instruments directly, reducing friction and increasing transparency. The unbanked and entrepreneurs everywhere could access loans from peers.

Exchanges Trading is the exchange of financial instruments for the purpose of investing, speculating, hedging and arbitraging. It includes post-trade clearing and settling. Blockchain cuts settlement times on transactions from days or weeks to minutes or seconds.

This efficiency creates opportunities for the unbanked to participate in wealth creation.

Venture capital and investment Investing in an asset or enterprise gives individuals the opportunity to earn a return, be it capital appreciation, dividends, interest or rent. Raising money normally requires investment bankers, venture capitalists and lawyers to name a few. Blockchain technology automates the matchmaking, enabling more efficient, transparent and secure models for peer-to-peer financing, recording dividends and paying coupons.

Insurance and risk management Risk managers attempt to protect individuals and companies from uncertain loss or catastrophe not just through insurance but through myriad derivatives meant to hedge against unpredictable or uncontrollable events.

Blockchain supports decentralized models for insurance, making the use of derivatives far more transparent.

Using reputational systems based on a person’s social and economic capital and online behavior, insurers will have a more meaningful picture of the actuarial risk.

Accounting Accounting is the systematic recording and reporting of financial transactions.

It is a multibillion-dollar industry controlled by four massive audit firms.

Yet traditional accounting practices are not keeping pace with the velocity and complexity of modern finance. The blockchain’s distributed ledger will make auditing transparent and in real time and enable regulators to more easily scrutinize financial actions within a corporation.

www.innovationandtech.ae

25

INTERNET OF THINGS

retool existing systems for IoT success

26

www.innovationandtech.ae

INTERNET OF THINGS

Harvesting the benefits of IoT doesn’t mean starting from scratch. attaching intelligent gateways to existing assets helps collect data from previously untapped resources says Anthony Sayers, IoT Business Developer & Strategist, Dell I believe that a significant measure of how IoT will impact our society is linked to Industry Standard 4.0, which will shape manufacturing and industrial automation sectors in the years ahead.

While manufacturers have always analysed large volumes of data, the difference now is that advances in storage capacity, high-performance computing, gateways, sensors and advanced analytics tools are allowing manufacturers to integrate and connect data that previously resided in separate silos. In short, operational technology (the systems that run the factory) is at an inflection point and is now able to converge with IT, specifically big data and analytics.

Thanks to this convergence, business intelligence enquiries that traditionally took hours, days, or even weeks can now be performed ondemand. Using data analytics and visualisation tools, manufacturers can interpret those results and make informed decisions about emerging quality issues and preventative maintenance.

The good news is getting the benefits of an IoT solution does not mean starting from scratch. By attaching intelligent gateways to existing assets, you can collect data from these previously untapped resources.

Connecting legacy sensors and systems to IoT hardware can also provide hardware-level

security to help mitigate some of the cyber risks.

25% and spare parts costs by 20%.

Let’s look at some real-world examples: Dell OEM Solutions is currently working with its partner Action Point to reduce the percentage of rejects for an automotive manufacturing customer. The automatic gear stick – a critical and expensive part – undergoes painting and lasering (PaL) near the end of the production process.

However, minute particles of dust can be introduced to the gear stick during this process, leading to a high percentage of rejects. As part of a proof of concept solution, the customer has installed a number of sensors in the PaL area to measure temperature, humidity, air pressure/flow, vibrations etc.

All this information is fed into the system which aggregates the data and combines it with data coming from the manufacturing traceability system. Analysis of this data and recommending corrective action details the optimum environmental condition to ensure the minimum number of rejects.

The next question is, what data should be collected, how long should the data be retained, and what data should be analysed and where? Traditional practices have been to collect, harvest, aggregate, relay and store all data centrally, but given ever-increasing volumes, this is not sustainable over the longer-term. One way to address the challenge of data centre overload is to place automated, intelligent analytics at the edge of the network, near where the data is generated.

During a recent pilot conducted in one of its manufacturing facilities, Intel found that by integrating sensors on automated test equipment, it was able to predict up to 90% of potential failures before they were triggered by the factory’s existing process control system. This allowed Intel to reduce yield costs by up to

Dell OEM Solutions is currently working with ESGI to help a customer in the Middle East manage its shopping malls more efficiently. The malls were using multiple, siloed solutions, for example, HVAC, lighting, elevators/ escalators and surveillance cameras. The customer is now using Dell Gateway to aggregate, secure and relay data from diverse sensors and equipment. Their system has the capacity to perform local analytics where only meaningful information is sent to the company’s datacentre.

In conjunction with technical improvements, the solution will also secure substantial energy savings. The fact that the Dell Gateway can be mounted on the wall and operated in extreme temperatures is also a big advantage. These are all

www.innovationandtech.ae

27

INTERNET OF THINGS

Consortium, which was set up to solve some of today’s most common challenges, such as high latency on the network, support of end point mobility, loss of connectivity, unpredictable bandwidth bottlenecks, and distributed coordination of systems and clients.

great examples of companies with deep operational expertise who are now embracing IoT to unlock a new level of data and move into services.

For me, the key take away is that building a solid IoT ecosystem benefits everyone. This is precisely why Dell is a founding member of the Open Fog

Anthony Sayers, Internet of Things Business Developer and Strategist at Dell

Call: + 971 4 399 4937 w w w.exclusive -links.com

Sales l Leasing l Management

“Our Property Management service provides comfort and effective solutions to home owners. We look after the property as if it is our own. When considering a list of Property Management companies in Dubai, let Exclusive Links Real Estate be your first choice.

“

• Offering Property Management services for over 10 years • Customer convenience to our local & international customers • Licensed Property Management company for client security & assurance • Licensed Property Managers with government accreditation • Many customer testimonials and recommendations of our services • Preferred Leasing & Management company for many owners & developers

Sarah Uttley

Paul Birley

Property Manager M: +971 50 1113918 sarah@exclusive-links.com

Property Manager M: +971 50 7086592 paul@exclusive-links.com

• Providing “The Complete Property Management Experience”

Approved Real Estate Agent Registration No. 708 Follow us on :

/ ELREDubai

Business Software that Inspires Epicor Software Corporation is a global leader delivering inspired business software solutions to the manufacturing, distribution, retail, and services industries.

Epicor business software solutions help customers effectively and efficiently automate and streamline their essential and industry-specific business functions, inspiring them to focus on their core, revenue-generating activities, deliver value to their own customers, and grow.

Inspired Businesses turn to Epicor Software.

To learn more: +971.4.3913730 marketing.mena@epicor.com www.epicor.com/mena

Business Inspired™

20,000 customers

| 40 years of experience

|

150 countries

|

30 languages

|

4,000 employees

Copyright Š 2012 Epicor Software Corporation or a subsidiary or affiliate thereof.

Epicor and the Epicor logo are registered trademarks and Business Inspired is a trademark of Epicor Software Corporation

Cloud Technology

better experience & cost savings drive Cloud growth

30

www.innovationandtech.ae

Cloud Technology

the growth of Cloud and Office 365 reflects not only their advantage in lower costs but also in better customer experience says Haider Salloum, SMB Segment Director – Microsoft Gulf Q1. What are some of the basic solutions that Microsoft offers SMBs? Microsoft provides innovative, affordable technology to SMBs such as Office 365, Dynamics CRM, Azure and Windows. Over the years we have helped SME’s grow and enhance their business by developing IT solutions and services that are both, cost efficient and scalable; two critically important components for any business hoping to achieve ambitious growth goals.

Microsoft is proud to work closely with SME’s across the Gulf region in order to better understand their business needs. We have a very strong partner ecosystem which enables us to scale our solutions to every business. Our partners are world class Microsoft solution specialists who help SME’s become technology leaders by guiding them through our portfolio of solutions and ultimately helping the decision maker find the right solution for their business, whether that be a hybrid cloud solution or a cloud solution like Office 365.

Q2. How will these solutions support the growth of SMBs? A Boston Consulting study found that SMEs adopting modern IT, such as the cloud solutions that I mentioned, have seen 15% faster revenue growth than those not using it. These businesses also created twice as many jobs.

One of the reasons for this is that the cloud negates the need for large upfront investments in on-premise solutions. Instead, you only need to pay for what you need, when you need it.

This means if your business receives an unexpectedly large order, or if you want to open a new store or develop your e-commerce, you have the ability to scale and grow quickly.

At Microsoft, we are empowering SMBs to achieve their business goals by giving them the opportunity to harness the power of the cloud.

Whether people work for large or small companies, nowadays they regularly work from multiple locations and on multiple devices during their day.

Whether it’s checking their emails or accessing files for an important meeting; they need information instantly. BCG further highlights that 62 percent of small business employees use mobile devices such as smartphones and tablets to access their email. This is where Office 365 comes in, as it enables a business to empower its employees to work from wherever they need to, and on any device across any platform.

Todays’ employees need instant access to their work as well as business insights, whether they are in the office or working remotely, in order keep pace in today’s competitive environment.

They also want to better connect with their customers by tracking , monitoring and prioritizing opportunities. This positive customer experience is an increasingly important ingredient for SMBs to win and retain customers.

Turning data into intelligent information is a corner stone of business innovation and transformation. Dynamics CRM, helps companies deliver amazing customer experiences by building longterm customer relationships that are personalized, proactive, and predictive across marketing, sales, and services.

Q3. What is Microsoft’s current Market share of SMBs in the UAE? And what is the expected growth in its Market share with its solutions to Support the SMBs here?

Today SMEs constitute nearly 94% of all companies in UAE. As theses SME’s gear up with aggressive plans to grow their business, the need for affordable, efficient IT solutions is a priority and will play a major role in their development.

Microsoft stands at the forefront to support SMBs with its solutions, not just in the UAE but across the entire Gulf region. Here are some examples of our initiatives taken to boost SMB growth:

UAE Last year we launched the "SME Toolkit" with DED providing O365 services and hosting facilities to help SMEs grow web presence, ecommerce, and cloud computing.

In partnership with du, we offer Office 365 cloud-based productivity applications and services directly to small and medium business (SMB) customers in the country. The offering provides SMBs with increased accessibility to cloud-based productivity tools starting from just 20 AED/month added to their monthly phone bill.

Bahrain Our work with Tamkeen has provided funding and cloud services (Azure + O365) to over 120 SMBs helping them become more competitive / productive.

Qatar In partnership with ICT Qatar, we provide cloud services to SMEs to support entrepreneurs at critical stages of their development, helping grow web presence, all elements of the “SME Toolkit”.

We also have developed a strong Microsoft partner channel, which enables Microsoft to support every business at every stage of their journey; whether they are starting out or experiencing expediential growth. Our partners support SME’s in achieving their business goals every day. We expect our partner channel to continue to experience significant growth, as more and more IT solution companies seek to partner with Microsoft in offering the best solutions to the SME community.

Q.4 Compared to earlier, what is the proportion of savings in expenditure by adopting Microsoft’s Solutions for SMBs? The need to reduce or effectively manage ever changing IT infrastructure

www.innovationandtech.ae

31

Cloud Technology

costs is important for any SME. As a result SMBs worldwide have started to adopt cloud-based solutions to cut their overall CAPEX and OPEX by transferring their on-premise infrastructure to a cloud. Cloud-based solutions also enable businesses to reduce their storage costs considerably.

Office 365 saves small businesses

time by reducing the work required to manage an IT infrastructure.

With Office 365 and CRM Online businesses can easily add and manage user accounts using a new web-based management portal specifically designed for organizations with even less than 10 users. At the same time, there’s no need to install on-premise servers, manage software licenses, or worry about securing your system. As a result, this leads to a huge reduction in IT expenses. A McKinsey & Company study shows that SME’s save up to 25% by using SaaS-based CRM Solutions instead of traditional on premise applications.

In addition to that, applications such as Skype for Business help replace in-

person meetings with web conferences and provides an effective way to share complex information. One can also setup a central portal for document storage through Sharepoint online and this empowers employees to find critical information in real time to make decisions.

One of the obvious benefits of moving everyday business to the cloud is that it can provide SME’s with significant savings. For e.g. virtualization increases the value of physical server hardware and lets businesses to more with less.

As a result, they will see a decline in rack space, power usage, IT requirements which means lower installations, maintenance, hardware and support costs.

Q.5 What has been the market growth in the past years and this year? Is there any market study or research on how much did SMEs spend on Microsoft solutions in UAE? While estimates of the overall spending by SMBs on Microsoft solutions

We work as a team to provide the required synergy that exceeds our customer's expectation. With expert lawyers who thoroughly comprehend the legal practice.

We ensure satisfactory resolutions and sound legal advise. Our superior practices are implemented in accordance with the local regulations. We pride ourselves in our quality cost effective and timely results.

PRACTICE AREAS: • Commercial Laws • Property and Real Estate Laws • Labour Laws & Employment disputes • Litigation and Arbitration • Civil disputes • Banking and Finance • Criminal laws • Company Formations & Incorporations • Constructions laws disputes between Employer and Contractor • Civil Status Law & Will Formatting • Debt Recovery

www.awsuwaidi-advocates.com

CONTACT US: Dubai, Office No. 2603 & No. 2602 Citadel Tower, Business Bay Ph: 00971-4-554 76 35, Fax: 00971-4-554 76 24 P.O Box: 96070 Dubai, UAE E-mail: info@awsuwaidi-advocates.com

Cloud Technology

may vary considerably, the consensus is that spending on cloud computing is one of the largest growing trends amongst SME’s globally. McKinsey estimates that the combined market size for cloud computing both public and private, is growing from $11bn in 2010 to between $65bn and $85bn in 2015. The public cloud alone is expected to grow from $9bn in 2010 to $50bn in 2015, with 65% of that driven by SMBs only.

The way that IT is being consumed is changing; businesses can have a service that they can scale up or down depending on how much they have to spend. This is particularly beneficial to SME’s. They can only spend half of what they estimate if they consider an Infrastructure as a Service (IaaS) model.

For example, Microsoft Azure provides, an easy-to –use solution, which is reliable and scalable allowing businesses to grow while also cutting costs.

The cloud gives businesses of any size access to a flexible, scalable and affordable choice of productivity apps, traditionally reserved for large multi-

nationals. This enables entrepreneurs to collaborate and work remotely – levelling the playing field in terms of their operational efficiency and innovative collaboration. SMEs and their employees are realizing that their competitive advantage comes from what they do with technology in and out of the office.

use Microsoft Office - this means that Microsoft is the company that SMBs turn to and trust. Our solutions and services are empowering businesses and individuals to do more and achieve more in this mobile-first, cloud-first world.

This new line of thought encourages Microsoft to increase flexibility, allowing SMBs to use specific elements of Office 365 exactly how they want to. Office 365 gives small businesses a leg up because it offers the same powerful tools that large companies use, while being affordable and easy for small businesses to set up and manage.

Given the importance of the SME sector (there are more than 148 million SMEs worldwide), the economic opportunity is colossal. Microsoft has a history of working with SMEs by developing solutions and services that are affordable and designed to help a business achieve more. A survey done on 4,000 SMEs by BCG revealed that 95 percent of all technology leaders

Global Innovation Summit 2016

Haider Salloum Director, (SMB) Segment, Microsoft Gulf Follow him on Twitter at @HaiderSalloum

Lead Sponsor

Sole Automotive Partner

The Future is Now!

September 21, Atlantis the Palm, Dubai

Showcase your company/ products infront of over 2000 decision makers

4 Dedicated Zones SME Service providers zone

Tech Enablers zone

Hall of fame zone Award winning companies

Smart future zone

Book NOW Call 042659704

SECURITY

No More Excuses– Get a Grip on Cloud Security the dramatic shift in mindset towards cloud technology is being driven by business rather than by technology executives which inevitably leads to security taking the back seat.

Cloud use continues to grow rapidly in the enterprise and has unquestionably become a part of mainstream IT – so much so that many organizations now claim to have a “cloud-first” strategy.

That's backed up by a recent Intel Security survey of 1200 respondents which showed that 80% of respondents' IT spend will go to cloud services within just 16 months. Even if that outlook overestimates cloud spend, it still shows a dramatic shift in mindset, and it's often the business, rather than the IT department, that is driving the shift. In today's digital world, the pull of the cloud and its benefits of flexibility, speed, innovation, cost, and scalability are now too great to be dismissed by the usual fears. To compete today, businesses need to rapidly adopt and deploy new services, to both scale up or down in response to demand and meet the everevolving needs and expectations of employees and customers.

Cloud Concerns This newfound optimism for the

34

www.innovationandtech.ae

cloud inevitably means more critical and sensitive data is put into cloud services.

And that means security is going to become a massive issue. Unfortunately, the same survey revealed that the picture isn't great when it comes to how well organizations are ensuring cloud security today. Some 40% are failing to protect files located on Softwareas-a-Service (SaaS) with encryption or data loss prevention tools, 43% do not use encryption or anti-malware in their private cloud servers, and 38% use Infrastructure-as-a-Service (IaaS) without encryption or anti-malware.

Many organizations have already been at the sharp end of cloud security incidents. Nearly a quarter of respondents (23%) report cloud provider data losses or breaches, and one in five reports unauthorized access to their organizations’ data or services in the cloud. The reality check here is that the most commonly cited cloud security incidents were actually around migrating services or data, high costs, and lack of visibility into the provider's operations.

Trust in cloud providers and services is growing, but 72% of decision makers in the survey still point to cloud compliance as their greatest concern.

That’s not surprising given the current lack of visibility around cloud usage and where cloud data is being stored. The wider trend to move away from the traditional PC-centric environment to unmanaged mobile devices is another factor here. Take a common example: an employee wants to copy data to their smartphone from a CRM tool via the Salesforce app. The problem is that they have the credentials to go to that cloud service and access that data, but in this case, they are using an untrusted and unmanaged device. Now multiply that situation across all of an organization’s cloud services and user devices.

There is clearly a need for better cloud-control tools across the stack.

Large organizations may have hundreds or even thousands of cloud services being used by employees – some of which they probably don’t even know about. It is impossible to implement

SECURITY

separate controls and polices for each of them.

Hybrid Cloud Security To securely reap the benefits of cloud while meeting compliance and governance requirements, enterprises will need to take advantage of technologies and tools such as two-factor authentication, data leakage prevention, and encryption, on top of their cloud services and applications.

Increasingly, organizations are also investing in security-as-a-service (SECaaS) and other tools that can help orchestrate security across multiple providers and environments. These help tackle the visibility issue and ensure compliance needs are met. That’s why I believe we are starting to see the rise of so-called “broker” security services. These cloud access security brokers (CASBs) will enable consolidated enterprise security policy enforcement between the cloud service user and the cloud service provider. In fact, Gartner predicts that by 2020, 85% of large enterprises will use a CASB for their cloud services, up from fewer than 5% today.

The key to this is for companies to be able to seamlessly push and enforce their own security policies from an on-premise proxy infrastructure to a public infrastructure. For the enterprise, this provides the ability, if required, to encrypt corporate data that sits in a public cloud service and offer complete protection for every endpoint. It means the same security policy is applied to the end users regardless of how or where they have connected, whether that’s through a public or private cloud, from a smartphone in a coffee shop or a Wi-Fi hotspot at the airport. Another example of hybrid security in action is where a company is using the infrastructure of a public cloud provider, such as Amazon, but retains control and ownership of the server in that infrastructure.

It can be managed by themselves and, using an Amazon API, enables encryption of the whole server within that public cloud environment.

Cloud adoption in the enterprise is rapidly approaching a tipping point and now more than ever, there is need for a new model of ‘cloud-first’ integrated security that enables the centralized control or orchestration of the myriad of cloud services and apps employees use across the enterprise. Cloud security is now a critical element of any business, and it needs to be taken seriously from the boardroom right down t

Rolf Haas, Enterprise Technology Specialist, Intel Security

www.innovationandtech.ae

35

Architecture

i r design: a subtle mix of Art & Science

36

www.innovationandtech.ae

Architecture • From your point of view, is interior design an art or science? What are your views on the automation of design via IT tools that are gaining traction?

Interior Design is also called Interior Architecture; it is a subtle mixture of the Art & Science. This is a field of design which touches all the senses, from visual to tactile to sound to smell and sometimes spaces inspires through our taste too.

IT tools are great way of communicating design ideas, the ability to see, perceive and anticipate is something unimaginable in the past. Tech has also cut down the distances and allows great communication with clients. We work with our clients in Africa, India and other GCC countries only due to these tools.

However, Tech is also reducing the time given to design, which is a bit of a concern as design is process and thoughts need to grow and mature before they come to fruition • Is interior design only about user experience? Is it not about providing inspiration and winning awards?

Yes the interaction of space with the user is very important. As urban dwellers we spend 95% of our time indoors in different surroundings - from workplace to home to retail to hotel, the list is endless.

All these environments affect our wellbeing and hence user experience is very important.

Inspiration is important, the purpose of the space defines it………..every space can be inspiring and it is how sensitive the designer is that makes the difference.

Awards are just recognition of good design.

• Dubai is all about high-end infrastructure and luxury, what designing style works well in the UAE? Dubai sets the precedent to design trends in the region. It is not all about luxury. However, the design needs to cater to a very well informed client. The region has seen the best and the worst design.

There is no particular style and the trends keep changing. Of late, we have noticed that clients are more willing to experiment and allow us to do just that.

• What signature I R Design projects would you like to share with us? i r design is a broad based design studio; we like to design challenges irrespective of the size, shape or constraints. It is our constant endeavour in every project to ensure that we create something new and in the process learn something. We enjoy the process and the result.

We like to cite the Time Square Mall, Amity University, The Impact Hub, Le Meridien Hotel, NHC Headquarters among our projects; we like all of them.

• What do you think of the LEED qualification process?

What additions and improvements would you recommend?

This process of certification may be of concern as every region has now their own certification process drawn from various similar agencies.

We feel that the lifecycle of the product from cradle to cradle should be looked into and mechanisms and systems developed to ensure this process is made available to the user. This is the only way, wastage can be reduced and segregated.

• Hiring an interior designer is conceptually seen to be costly. How can you bring cost effectiveness into interior design?

This is a misconception. Hiring an interior design is as equivalent to hiring any other professional, a lawyer or a doctor.

So, in the case of a doctor, all of us know ourselves well, we start with self-medication and when the problem

becomes out of control, we go the doctor or else we realise that the problem needs a specialist help, we go to the doctor. Using the same analogy, Interior Designers are specialist and look at the space you might spend most of your time in, with a holistic point of view. They have the aesthetic sense and technical know-how to make the space and the people work in it more effective and efficient.

• Please elaborate on how you create environments to have a profound effect on our well-being, productivity, relationships and beyond. What

www.innovationandtech.ae

37

Architecture

examples would you cite?

Man is a sum total of his knowledge, biases and experiences. Our job, as Designers is to create that experience which one can cherish. The same space is a reacted to by different people in different times and in different moods.

Space orientation, daylight conditions, shape, colour, feel under the feel, touch through the eyes and hands make a lot of difference.

For example, productivity levels in offices increase up to 70% when there is a daylight factor considered. In this region we are blessed with sunlight but most offices have blinds and artificial lighting. Why? This is because the layout of the desks is not optimised to use the conditions. Instead is all about the number of workstations.

Cabins are put near the windows, almost blocking all the natural light coming into the larger workspace. This needs a change in mind-set.

• What range of designing solutions do

you offer your clients? Which are most in demand?

As I mentioned, i r design is a broad based design studio and our clients usually want an end to end solution from us. Our design studios provide solutions ranging from Feasibility Studies, Concept Design through Space Planning and Visualisation, Detail Design through producing construction drawings, specifications of materials used and their usage, and Site supervision. We ensure that the concept design is realised and we have the technical know-how make it happen.

We also help our clients work with a vast network of suppliers of materials and furniture. Our in depth market knowledge and product know how helps clients stay within budgets and offer alternative solutions.

Besides these services we offer Collaborative solutions for Branding. We also offer Knowledge workshops and product design with an Italian design studio.

• What type of clients do you like and which ones do you not like? In essence, what are the usual gaps in clients’ understanding and expectations that you encounter?

An ideal client is one who knows what he wants and trusts us completely. When the partnership is established, the solutions flow beyond the assigned scope of work.

Clients who do not value their space or the people who will reside in them are not our clients.

The gap is in understanding the psychological aspect of how well-designed spaces affect the well-being of the people living/ working in them or how creating the right ambience helps in the product offering.

Wonder why food tastes better in a welldesigned restaurant? This is very intangible and needs a thought process which is very different from a fit-out process. I would also like to add that clients should understand the importance of regulation and engaging with a qualified Interior Designer/Architect.

• What are the qualities an interior

Architecture designing company should have?

As I said most urban dwellers spend a majority of the time indoors, so therein lies great responsibility with the profession to aid the well- being of the society at large.

Designers as a company should eschew values beyond numbers and product lines.

The company should learn to collaborate and work with other disciplines allowing the building process to be an integrated approach.

The company should be flexible to understand the local needs, the client, budget and site constraints and provide solutions.

The company should be able to provide solutions, they should be able to visualise, anticipate and have a technically qualified team.

• Is i r design UAE centric or do you have clients around the world? i r design can work around the work, with our design studios in Dubai for the last

12 years, we have worked in the GCC, India, Tanzania, have collaborative partners in Italy and are looking to expand.

• What is your dream project? If you there are no limits, what would you like to design?

My dream project would be to a design a multi-functional space which gets transformed in usage in layout from lecture hall, a concert hall, to a classroom, to a café to a nursery, to a lounge to almost anything by modulating the space in two and three dimension. The use of technology can augment the requirements into a seamless flow of the usages and spaces.

• Please share some milestones of your journey and which of your honours/ awards are most important to you?

I never set any goals for myself, the strain is too much. I only want to do good design, some things are so simple yet not thought of. I am guessing that honours and awards are a way for people to realise that sensible design is possible, I would like

to have the opportunity to produce good design.

I started out as one individual and slowly we have grown to a team of 10 architects and designers. The idea was to do holistic design where there are not designers and draftsmen but everyone has the basic skills to understand the client’s needs and visualize the requirement. The team needs to engage in the process of design of knowing how each element has a relationship with the other elements.

We do not work in isolated groups. The secondary level of skill is specialization as Visualiser or a detailer. We want people to be thought leaders, to find solutions, to be an integral part of the outcome.

The ethos of the company is very much its essence and source of growth.

In this journey we have had clients who compliment this zeal and help us to refine the thoughts.

When clients come back to us and tell us how the space helped them grow, it is our biggest reward and award.

EMERging tech

global IoT Security Spend to Reach $574 M in 2018

2018 $547.20 Million

2017 $433.95 Million

2016 $348.32 Million 2015 $281.54 Million

40

www.innovationandtech.ae

$231.86 2014 Million

EMERging tech

By 2020, More Than 25 Percent of Identified Attacks in Enterprises Will Involve IoT Worldwide spending on Internet of Things (IoT) security will reach $348 million in 2016, a 23.7 percent increase from 2015 spending of $281.5 million, according to Gartner, Inc. Spending on IoT security is expected to reach $547 million in 2018 (see Table 1).

Although overall spending will initially be moderate, Gartner predicts that IoT

security market spending will increase at a faster rate after 2020, as improved skills, organizational change and more scalable service options improve execution.

"The market for IoT security products is currently small but it is growing as both consumers and businesses start using connected devices in ever greater

numbers," said Ruggero Contu, research director at Gartner. "Gartner forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from 2015, and will reach 11.4 billion by 2018. However, considerable variation exists among different industry sectors as a result of different levels of prioritization and security awareness."

Worldwide IoT Security Spending Forecast (Millions of Dollars)

2014

2015

2016

2017

2018

231.86

281.54

348.32

433.95

547.20

The market for IoT security products is dependent on IoT adoption by the consumer and industry sectors.

Endpoint spending will be dominated by connected cars, as well as other complex machines and vehicles, such as heavy trucks, commercial aircraft, and farming and construction equipment.

Gartner predicts that by 2020, more than 25 percent of identified attacks in enterprises will involve IoT, although IoT will account for less than 10 percent of IT security budgets. Security vendors will be challenged to provide usable IoT security features because of the limited assigned budgets for IoT and the decentralized approach to early IoT implementations in organizations.

Vendors will focus too much on spotting vulnerabilities and exploits, rather than segmentation and other long-term means that better protect IoT.

"The effort of securing IoT is expected to focus more and more on the management, analytics and provisioning of devices and their data. IoT business scenarios will require a delivery mechanism that can also grow and keep pace with requirements in monitoring,

detection, access control and other security needs," said Mr. Contu. "The future of cloud-based security services is in part linked with the future of the IoT. In fact, the IoT's fundamental strength in scale and presence will not be fully realized without cloudbased security services to deliver an acceptable level of operation for many organizations in a cost-effective manner.

By 2020, Gartner predicts that over half of all IoT implementations will use some form of cloud-based security service."

Ruggero Contu, Research director at Gartner.

www.innovationandtech.ae

41

Smart city

VR still a long way from eliminating presence

42

www.innovationandtech.ae

smart city

potential cost savings could soon make VR solutions a reality for the events industry where groups of people fly in needing transportation, accommodation, meals arranging etc. If they joined from a virtual platform, these requirements would disappear.

A

s technology is constantly developing, making day-to-day life easier and more efficient, these innovations are starting to creep into the events industry. Virtual Reality (VR) is now becoming prevalent, which with time could transform the live events industry by eliminating the need for guests to be physically present at events.

For the events industry, there are certainly some very appealing implications of having attendees join events via VR such as the elimination of logistical headaches including transport, car parking, queue management etc. For end clients the possibility of reaching a much wider audience not limited by geography is also a very appealing concept.

The potential cost savings could soon make VR solutions a reality for our industry. At TEC, our team often work on projects where we have groups of people flying into the region for a conference, with all guests needing transportation, accommodation, meals arranging etc. If guests were to join from a virtual platform these requirements would disappear.

In addition there is a huge environmental impact - as an agency we are very conscious of the environmental impact that our events have and new this new technology is opening many interesting new ‘virtual’ doors.

On a recent trip to Milan Expo 2015 I personally went through the most engaging VR experience I have had to date. The technology was quite impressive; the visuals were vivid, clear, crisp and sharp. The experience was far better than the VR headset I had seen previously, where the images were blurred, out of focus and lagged behind your head movement.

The content that was being shown

at the Milan Expo 2015 via VR was interesting. However, my concern from an event management perspective was that I didn’t feel fully emotionally engaged. I felt distant and not truly part of the event audience.

learn new skills through simulation. Even at product displays during exhibitions, visitors to the company’s stand can experience products that are too big to fit into the stand. VR is a practical option at such events.

Engaging with the audience is the key objective of any event and in my experience, VR did not do that for me. It distanced me, instead of pulling me in. If I am watching a VR event with someone, I will not be able to share my feelings with that person because I cannot know which scene he is watching. At a ‘real’ event we can comment on what is happening in front of us and can have a more interactive fun experience.

With technology developing at breakneck speed, I have no doubt that we are in for faster more immersive VR technologies offering more clear, crisp, sharp visuals however as much as this technology progresses I still think we’re a long way off having that “being there” experience. One interesting development in this space is Google’s low cost and wide reaching “Google Cardboard” this clever piece of folded cardboard can transform a smartphone into an effective “VR” headset. I am interested to see how the software around this develops in the coming months.

At Milan Expo, I also found myself paying attention to the wrong things. I became distracted. Instead of listening to the messages that were being conveyed to me, I found myself looking at other people in the audience or noticing irrelevant things in the VR world I found myself in.

Wearing a VR headset also comes with some physical impracticality. I wasn’t able to look at my phone to read the event Twitter feed or, in fact, do anything else whilst I was wearing the headset. Attending a conference via VR and hoping to jot down notes would be impossible whilst wearing the headset.

Unless we see more improvements in VR and we can truly recreate a real live experience where people can interact with each other and the outside world in real time while being part of a VR experience. As of now, I will certainly not recommend our clients to swap live events for virtual ones.

I wore the headset for a matter of minutes, probably around ten minutes in total and my eyes had become tired and ears were hurting from the straps around my head. I think it will be too uncomfortable for a delegate attending an event to be wearing a headset for too long.

Do I think VR will replace live events?

Not soon and definitely not until the technology behind VR improves further.

It will definitely be of use in certain type of events. For instance at education and training events, VR will help attendees to

Natalie Crampton, Managing Director, TEC

www.innovationandtech.ae

43

customer service

Set-up specialist: gear up for expo 2020 Expo 2020 will help business in the UAE if they position themselves strategically and provide quality service. the best people to help grow a business are clients, so it makes sense to give them the best experience every time, says Amanda Perry, Director at vital corporate solutions • The concept of the company formation has changed over the years. How different is forming a free zone company and off shore companies?

It depends which jurisdiction you are dealing with. There are the UAE Offshore Centres, which are located in the free zones and then there are the International Offshore jurisdictions.

THE UAE Offshore companies such as JAFZA, RAK and DIFC are located in the respective free zones of that location but the incorporation requirements are similar in respect to due diligence and knowing your client. There is

44

www.innovationandtech.ae

no need for a physical presence or office with an Offshore Company but an Offshore Company cannot trade in or conduct business within the UAE market. UAE Offshore companies are traditionally used for asset holding and/ or facilitating a particular transaction.

Generally speaking, it is quicker to set up an Offshore Company but some of the free zone authorities now are amazing and incorporating certain company types in 5 days.

• What is an offshore company?

What are the benefits and limitations of being an offshore company?

As said above, an Offshore Company cannot trade in the UAE market but they are excellent and internationally recognised vehicles used for holding assets and for use a Special Purpose Company meaning that there is a particular transaction to be executed and the use of a company as one party to execute.

• Offshore companies usually deal with wealth management, risk mitigation and succession planning.

What structures best suit them in meeting these goals?

Generally speaking any jurisdiction can be used for any of those typical purposes. However places like

customer service

Guernsey and the Cayman Islands now have enacted new laws to allow for segregated cells within one company, meaning that the asset and liability of one cell holder can be ring-fenced from another cell holder within that same company. This is a huge benefit to the insurance and shipping market by reducing and in some cases eliminating risk between the parties and assets.

• What are the differences in regulation for setting up free zone vs. offshore companies?

In the UAE, free zone companies are regulated by their respective free zone regulatory authority such as DMCC or DIFC, however certain companies and activities within those free zones require external regulation such as the Central Bank, the DFSA, and Health Authority etc. depending on the nature of the business activity. These types of license are not applicable with the Offshore market, as said the purpose is asset holding, asset and succession planning or specific transaction based purposes – therefore regulation in that context doesn’t apply. However each Offshore Company is required to adhere to its constitution, the Directors and officers must adhere to their code of conduct as with all companies.

• What services you provide clients

after setting up his company? What are your expertise?

Obtaining a valid trade license when starting a company involves a lot of research to ensure that it suits the companies requirements and budget as well as the business plan for the future of the Company but the reality is that it s only one of the first steps. A business plan is key to getting started, then the License is the next key stage, but after that there is endless list of services that that Company might require to enable it to progress and succeed, from good Corporate Banking to sound Legal Advice for all your contracts, from a great website to attractive business cards, from reliable freight and shipping to strong branding. Each business has different needs but it is very hard to find tried and tested and most importantly trusted service providers to fulfil these requirements. We have spent a long time researching the service needs of our clients and have built up quite a book that we share without hesitation to all our clients as we believe every start up needs all the support they can get. Imagine the frustration for some start-ups when they have a plan and license but they can’t get their logo and branding designed to reflect their business and passion?

• What is your advice to

entrepreneurs looking to set up new companies in an uncertain market? Do you think it is the right time to set up a new business?

It depends on the attitude to risk that that Entrepreneur has and his experience in starting and running a business as well as his experience in that uncertain market. If it is his home country and he knows the market place and recognises a gap in the market that he wants to fill, then they should go for it.

• As you know the SME sector makes up for 80% of the economy in this region. How does Vital Corporate Solutions help reinforce and strengthen the SME sector through its services?

By listening to our clients needs and making sure they have the right license to facilitate their business and a strong plan to follow as well as access to great support providers available to SME’s.

We must all support each other with knowledge and support.

I still think there is a lot more that the large key players in the Services market can do to support SME’s but as a small service provider we try to express our

www.innovationandtech.ae

45

customer service

services changed over the past few years, with e-Government advances and the ease with which new businesses can be setup in the UAE? E-Government services have not really changed the way we do business as these apply to DED licenses and we work exclusively with free zone and offshore but we expect that this great initiative will filter through to the free zones.

views as best as we can to these big service providers, explain the needs of the clients in the current market and make recommendations on how they can improve and become better than their competitors!

• With Expo 2020, many companies are setting up their base in the UAE, do you think that Expo 2020 will help you grow your business?

I think Expo 2020 will help every business in the UAE if that business positions themselves strategically and can spate themselves from our businesses by providing the best service they can. Dubai operates on word of mouth and the best people to help grow your business are your clients so it makes sense I think to give them the very best experience each and every time they use your service • How has your business of setup

46

www.innovationandtech.ae

• What bespoke solutions and specialised services do you create for your clients? Are there special cases and could you give us a few examples?

Every client is different, every client has a unique passion and talent and dream and it’s our job to listen and interpret and find a personal solution.

We share in our clients and passions and in an expat driven society such as Dubai whereby we are away from our families, it is important to have someone on board with you for support and encouragement.

• Why Vital? What are your advantages over competition?

Passion! Passion! Passion! We are truly passionate about what we do and get no greater pleasure than helping our clients flourish. It’s not just a license to us – it’s a livelihood.

• Do you have any plans to strengthen your regional network outside the UAE and what are the challenges you face there?

• Maybe one day but right now, we are

so focused on the UAE market and all the exciting things happening here. But who knows, let’s see what the future holds.

• Business owners are heard moaning about the challenges they face whilst setting up their enterprise. What are the main challenges in setting up a business in the UAE? Banking is probably the biggest challenge. Without being overly critical and whilst trying to be constructive in my comments, I can say that Banks here struggle to understand the needs of business owners and this is reflective when opening and operating bank accounts. We have built some fantastic relationships with some key players in the banking sector and are able to pass strong recommendations to clients but there is still room for innovation and improvement.

• In light of Expo 2020, do you think another new format for company set up is required such as a temporary company for the period of one year only? What are your recommendations for Expo 2020?

Any company can set up and operate for one year and then liquidate. The cost of set up versus the cost of year 2 renewal is not greatly different in many free zones therefore I don’t believe a ‘one year company’ would be required, I do however think there could be some better pricing options for one man companies or freelancers.

• Besides a well-established infrastructure what are the other advantages a business owner can leverage if he chooses UAE as a base for his business? wThe connectivity to Europe, Asia, Africa is fantastic and the UAE loves to receive great service but there is a gap in delivering great service in some sectors here – so if you have a business idea and even if there are companies out there doing the same activity as you want to do, there is room for you to create a wonderful and successful business by doing it better than your competitors.

Give your clients the service you would wish to receive!

digital guide

Digital Disruption, an On-going Process sea

rch

Alexander Rauser, CEO of Prototype Interactive has come out with a book, “Digital Strategy: A guide to digital business transformation.� The book is a robust guide to developing digital strategies for companies of any shape and size. it talks about implementing digital strategy, improving efficiency, recognizing opportunities to innovate and outperform. If you are struggling with your digital strategy or haven’t considered it yet, this book will put you on the right path to success.

Overview It is the sort of book you will jump in and out of regularly whether you are conducting a SWOT analysis on an internal strategy or looking to create a proof of concept to set up initial prototypes for a new project.

Alexander offers useful tips alongside reallife examples of how to plan, implement and manage a digital strategy with some interesting additional insights surrounding UX and innovation.

The book is broken up into four distinct sections starting with a detailed explanation of a digital strategy followed with a guide to create, implement and maintain a digital strategy. It concludes

ing

...

with an innovative lens, directing readers on how to apply innovation to their work environment to encourage constant change and digital progression.

Digital transformation is not only about tech A main point that Alexander discusses is that any type of company can digitally transform their business. He explains that digital transformation is about improving efficiency and processes for the customer, a theory that can be applied to any business.

Take a hair salon. One way a hair salon could improve efficiency is by helping customers to remember to book their next appointment, or entice them with

www.innovationandtech.ae

47

digital guide special offers or seasonal products.

A car dealer could send customers a notification when their next oil change is due and so on. Alexander draws upon examples such as Uber to help explain this mindset of digital transformation with the goal to educate businesses on how to adopt this approach within their own company.

“The idea is to not only tell people that having a digital strategy is important, but more so show them ways of actually implementing it themselves.

As an agency we love clients with digital strategists or already experienced in digital, but we are even more happy when we can transfer our knowledge and

help customers become digitally savvy.

This book helps companies understand how they can be in control of their digital implementations.”

Why a digital strategy?

A digital strategy helps your organization to align and connect all your digital efforts towards a common business objective.

There are digital tools available nowadays that help improve your productivity, processes and services, meaning that everything you do is in some way connected to digital. By evaluating all the digital components of your company and combining them into a digital strategy, you will improve each asset and in turn the overall success of your company.

“While you will have experts in each field you also will need a holistic overview that brings all this together. That’s exactly the job of your digital strategy and the digital strategist.”

Alexander dives into the importance of establishing clear key performance indicators (KPIs) to help measure the success of digital assets and provides a

model to build and visualize your digital strategy, whilst offering tactics and tips along the way.

Great user experience impacts digital strategy The importance of user experience design is an integral part of digital strategy as all digital tools interact with humans. When we consider our digital tools, whether it’s our website, email marketing campaign or paid search ads, with a human lens, we see that UX is an essential part of improving these assets. If we think about the impact the Amazon one-click to buy button must’ve had on increased sales for Amazon, we can begin to understand how UX can drive more conversions for any type of business. If processes are too complicated, less people will convert and UX helps to refine this.

“User experience is very important and most companies shift their focus on improving customer experience through user experience as digital channels take over. The truth is that in an ideal world all your digital components should be working together in harmony. This means your UX is as important as your digital marketing and your technical infrastructure and they all are interconnected and need to work together seamlessly.”

Creating a culture of innovation In this fast paced world, to stay competitive you need to be constantly reevaluating and improving your products and services. Alexander offers 10 key ways you can foster an innovative work environment to drive towards opportunity and change.

“The book focuses a lot on innovation and how companies can learn how to innovate using a digital strategy. This is where the real opportunities come from in our current age. You don’t need to be a tech startup to make a change.

Companies have the opportunity to disrupt their industries today; they just need to make room to grab them.”

About Alexander Rauser Alexander Rauser has 15 years of experience in creative, digital media and technology spanning both online and offline channels. He started out in Germany working for several creative agencies and then ventured to the UAE in 2005 to continue to build his international client portfolio. In 2010, he founded his digital agency, Prototype Interactive, now a leading interactive agency specializing in digital strategies for medium-to-large enterprises.

recruitment

Games: helping to fill the skills gap

50

www.innovationandtech.ae

recruitment

with uber actively using games to identify and recruit talent, is this a trend that will catch on in the wider recruitment industry?

How do you recruit good people these days?

It’s not a trite question. We’re all well aware of the skills shortages that make recruiting good people difficult.

Just this morning, to put some stark reality onto that statement I checked the jobs available at Amazon. Worldwide there are 3,900 vacancies in Amazon Web services, 4,800 in software development.

I don’t know whether all these posts have a perfect fit out there somewhere, but I am increasingly convinced that traditional recruitment methods aren’t the only way for technology companies to find the best match.

To be fair, I’m not saying anything radical. We’ve already seen companies build on traditional methods of recruitment. While the well-worn written job advertisement remains a key recruitment tool, organisations are also branching out and paying more attention to recommendations from coworkers and to the candidates they can reach out via social media.

One approach that is gaining traction with a number of businesses is to gamify the recruitment process.

It is quite clear that gamification works very well in some areas. In the past few years, millions of us have begun working each day to earn virtual badges in exchange for walking 10,000 steps, so that this is now the new normal. But does gamification for recruitment have the same possibilities it does for wellbeing?

One firm that continues to test this theory is Uber. The company has just launched ‘Code on the Road’, an in-app coding based game that riders can play while on a journey, and which invites them to fill out a job application if they can complete three coding challenges in 60 seconds. The game has only been released in cities with a large tech

Gartner Group defines gamification as the concept of employing game mechanics to non-game activities such as recruitment, training and health and wellness. Gartner predicts that by 2014, more than 70 percent of global 2,000 organizations will have at least one “gamified” application, which can range from mastering a specific skill or improving one’s health.

workforce for now, which is clearly a way for Uber to target its recruitment efforts.

Uber has taken my attention before for similar reasons. Last year it released UberDRIVE, a game in which players could ‘drive’ people round a virtual city, with high scoring ‘drivers’ invited to join Uber for real. I said then that finding new ways to engage talented people was a priority for HR teams, and over the past year the search for skilled workers has only intensified.

Gamification in HR isn’t new. For the past few years, the Knack app has been matching people to opportunities by asking candidates to play games while using algorithms to identify their characteristics based on the decisions they make within a game. According to the Wall Street Journal more than 200 employers currently use Knack.

recruitment is on its last legs? Of course not. However, gamification can certainly add to the process.

HR teams have been aware for a very long time that the person who interviews best might not be the best fit for a role, that CVs are only part of the ‘talent story’, and that traditional methods of publicizing job openings don’t necessarily reach the richest seams of talent.

It therefore seems sensible that gamification gets some of its early outings as a recruitment tool to fill techheavy posts, which is why Uber’s move is so intriguing. There’s no denying the talent deficit in the IT sector, nor that the success of today’s digital companies will hinge on their ability to engage a large pool of technically adept talent as they continue to grow.

There are certainly other applications as well. As companies like Knack have shown, gamified recruitment has already proven valuable outside the tech sector too. And even if it remains a fringe approach for the time-being, HR decision-markets might be well advised to pay close attention to how recruitment through gaming evolves in the coming years.

Oscar Lausegger HCM Strategy Director

Does all this mean traditional

www.innovationandtech.ae

51

human innovation

How digital is transforming Retail

52

www.innovationandtech.ae

human innovation

both stores and digital commerce will evolve in new and complementary ways, and physical and online channels may eventually become so intertwined that consumers will no longer distinguish between them.

T

he Retail Industry revolves around the customer more than any other Industry. It becomes imperative to not just interact with the customer in a better way, but also to 'know' the customer. Such knowledge helps in boosting profits, market share and customer loyalty.

Challenges for retail industry are many in today's business environment as divergences of market forces have created an extremely difficult climate says Rashid Al Shamsi, Executive Management at ixtel.

In mature markets, the retail industry is constrained in its ability to grow and maintain profit margins as a result of a deflationary operating environment, market saturation and lower consumer spending. There are also the immediate concerns of growing competitive pressures, an increase in the number of alternative sales channels, a blurring of roles between suppliers and retailers, and particularly for consumer product manufacturers.

The big question for retailers is the role of the store in an increasingly digital world. Some retailers think digital commerce could put physical stores out of business completely.

Rashid believes the most likely scenario is that both stores and digital commerce will evolve in new and complementary ways, and that physical and online channels may eventually become so intertwined that consumers will no longer distinguish between them. Stores that survive will offer Omni channel experiences that combine the best of digital commerce, easy comparison shopping, expert advice, low prices and broad choices with the best of physical shopping sensory experiences, instant access, social interaction and easy returns.

Two Omni channel experiences are getting a lot of attention: flexible fulfilment and the store as an Omni channel stage.

Flexible fulfilment Shoppers value the ease of buying digitally, but that’s not the only factor in their decision making. Also important are delivery speed, security of the package, the cost of delivery, the ability to pay in cash and the ability to see and touch the product before buying it. Convenient delivery is a key pain point.

But traditional retailers have a potential advantage in terms of fulfilment — their physical stores. One ambitious idea retailers are pursuing is redesigning stores as customer pickup and distribution centres. Retailers are facilitating in-store pickups of online orders, shipping online orders directly from stores, shipping inventory between stores and accepting in-store returns of online purchases.

As a consequence, the strategic focus of the sector is moving towards emerging economies and expanding consumer markets, which offer new opportunities for growth through global sourcing, off-shoring and the development of modern retailing.

Retail Industry Priorities • Customer centricity • Operational efficiency (higher flexibility and responsiveness) • Increasing share of consumer wallet • Multi-channel (A uniform & seamless shopping experience and branding across all their channels – one view of the customer) • Reinforce advertising or promotions – through Digital technologies

across the entire shopping journey and equip store teams to deliver consistent experiences relevant to store formats and target markets.

Insights gives retailers a deep understanding of shopper demographics (age and gender), identifies new versus repeat versus loyal shoppers, shopper geo-origin, and cross-store spending.

These key metrics are combined using IXTEL OneRetail analytics platform with other retailer data such as sales, CRM, the promotional calendar, etc. Retailers can use these insights to measure trends in shopper mix over time or the effectiveness of their promotions and campaigns against their targeted demographics.

IXTEL enables retail to communicate, and thereby be more effective, through the retail enterprise. Connecting brand to customers has never been more important or challenging. Effective shopper engagement requires retailers to present targeted, relevant experiences that drive conversion, basket size, and higher transaction value. The IXTEL OneRetail platform is the only retail solution to leverage both shopping behaviour data to optimize a personalized shopping experience.

The IXTEL Omni-channel data-driven solution enables retailers to deliver recommendations, offers and other content that is personal to each shopper.

Real-Time Data Drives the Future of Retail In-store customer experiences and digital retail capabilities are not aligned and that many retail stores lack the essential technology to measure and harness shopper data across channels.

The store of the future will be powered by real-time analytics technologies that understand shopper behaviour

RASHID ALSHAMSI CHAIRMAN, IXTEL

www.innovationandtech.ae

53

Network security productivity apps

BEST business productivity apps

54

www.innovationandtech.ae

productivity apps Meeting Mapper and Meeting Mapper Fierce, from Point N Time Software  Are you having successful meetings? How do you know?

Meeting Mapper is an intuitive and elegant application for iPads that makes it easy to gather up and “map” (thus the name) the information you need for truly successful meetings. This application tracks the role and the stance (opinion) of every participant in a meeting, and makes it easy to create action items or next steps and automatically schedule the actions for follow up. Meeting Mapper costs $6.99 and is available from the iTunes store. A related application, Meeting Mapper Fierce, is integrated with SalesForce and is optimized to serve as a strategic weapon for closing new sales. Meeting Mapper Fierce is available from the SalesForce AppExchange

RabbleBrowser for iPad, from Float MobileLearning 

This iPad application makes sharing URLs, files and anything stored on Dropbox easy to do. With RabbleBrowser, any number of iPads in a conference or meeting room can instantly chat or share a browsing session. The app streamlines conversations by allowing everyone to see the same things together without having to type out confusing web addresses or email attachments.

RabbleBrowser is available for $1.99 from the iTunes Store

Workshare 

Have you ever been working on a story late at the office and wanted to finish it at home, but you lost (or forgot) your USB stick? At that point, your typical options—emailing it to yourself or popping it in Dropbox—are easy enough but perhaps not safe enough if you’re dealing with confidential or sensitive files.

Workshare will alleviate this issue with mobile app and syncing functionality in the beginning of 2013. With this solution, employees will be able to synchronize files between the Workshare platform and any mobile device, which is more important than ever in our age of BYOD. Workshare also helps employees collaborate more readily from the road with real-time insight into file updates, comments and access for all collaborating parties on any device, from any location.

EchoSign for iOS, from Adobe  Here’s a new e-signature application for traveling sales reps who need to get contracts signed quickly. This new app allows users to send, sign and manage documents from within the application. It eliminates the need to carry large paper-based contracts.

Users can access documents or contracts from their Box, Dropbox, or Acrobat. com accounts or from the mobile device itself and use EchoSign to get them signed immediately and in-person. EchoSign is available from Adobe in pricing arrangements that range from free for 1-5 users, to $299 or $399 for an enterprise or global license.

www.innovationandtech.ae

55

productivity apps Evernote for Business, from Evernote  This mature multi-platform note taking application is now in its fifth version, which includes upgraded functionality in Evernote for Business, at a price of $10 per user per month.

For many companies that rely on collaboration, the simplified billing, enhanced support and additional Business Notebook features in this iTunes classic make the application a “must upgrade” product for 2013.



Tappestry for Organizations, from Float MobileLearning

A newcomer in the social field, Tappestry is a bit different than the social tools such as Yammer or Salesforce Chatter. Tappestry was built for sharing knowledge and to learn new information. It integrates with many of the traditional technologies human resources and learning departments use.

Tappestry supports iPhones and iPads and costs $.99 per topic or $5.99 for unlimited topics from the iTunes Store.

Dropbox for Teams  Moving from Dropbox to Dropbox for Teams is another wise consideration for 2013. Enhanced sharing options and integrated file revision history are two of the additional features in “Teams” that make the increasingly popular Dropbox, super powerful for businesses and teams.

Some organizations are considering this option as an alternative to traditional file server storage for files.

CONCUR Modern finance leaders know that employees have more purchasing power than ever before, which makes it challenging to control costs and cash flow. By automating travel, expense and invoice processes with Concur, more than 30,000 companies of all sizes are making it easier. And they’re seeing big benefits – like greater productivity, insight and cost savings.

UX Write for the iPad and iPhone, from UXProductivity.com  UX Write is the first fully-featured word processor for the iPad, developers maintain.

Because many entrepreneurs are rarely in their offices, they find dealing with large complex documents from their iPads quite difficult. UX Write is designed to bring the powerful word processing capabilities of desktop systems to the iPad and iPhone. It handles high-end professional authoring tasks such as creating books, reports, research papers, and theses, for a surprisingly economical price of $14.99 and is available in the iTunes Store

56

www.innovationandtech.ae

productivity apps



Confluence- One place for all your team’s work

Spend less time hunting things down and more time making things happen. Organize your work, create documents, and discuss everything in one place.

StratPad v2, from Glassey Technologies Inc. 

In 2013, StratPad v2 promises to take strategy out of the boardroom and put it on the desktop of everybody in the company.

StratPad premiered as an iPad app in 2012 and quickly became the highest rated app of its kind in the iTunes App Store, developers say.

It’s the first iPad app to be integrated with Yammer, allowing people to collaborate on strategic business planning activities online in real time.

Customers who love StratPad have asked the company to develop a Web version so that everyone in their companies, including those who don’t have iPads, can use it. StratPad v2 for SMBs will ship in spring 2013. It promises to synchronize files in real time across all devices.

For example, if you update a business plan on your iPad or Surface, it will automatically update on your desktop as well. In addition to generating the reports businesses need to execute and monitor their strategy, the product also tracks results with a business intelligence tool that graphs KPIs, trendlines and targets.

StratPad is currently available on the iPad in a basic version for free and in paid editions ranging from US$9.99 to $54.99.

Speaktoit, from Speaktoit.com  Speaktoit is the top-rated virtual assistant for Android or iOS/Windows, but will be targeting productivity for business users in 2013.

Speaktoit was a top 10 NY Times App of the Year in 2012, but is adding specific features for workers in early 2013.

Expenses made easy  GoToMeeting By Citrix Meet where you want with GoToMeeting on

Quickly add cash expenses, automatically import all card transactions Capture mileage, time, and other reimbursable/billable expenses Code expenses to GL accounts, clients/projects, and custom fields

your mobile device. Join, host, or schedule a GoToMeeting from your iPhone, iPad or iPod touch.

www.innovationandtech.ae

57

smart city

LiFi to bring the smart city to life

LiFi technology will be a key enabler to realise the Smart City vision Zero.1 is a UAE-based technology company that is the first to bring Light Fidelity (LiFi) technology to the United Arab Emirates. Established in January 2016 with headquarters in Dubai Silicon Oasis, the company's use of patented LiFi technology and its applications puts them at the forefront of the LiFi revolution. They can provide LiFi management solutions combining hardware and software, together with cloud platforms, to a variety of different sectors including road and transport, telecommunication, and Smart City authorities. They also have management solutions for retail, hospitals and health care, sensitive environments, such as offshore oil rigs, and large venues such as conference and exhibition centres.

What is a Smart City?

The phrase Smart City has been in the news for a while, and we know it is

58

www.innovationandtech.ae

coming, but what does it really mean?

A Smart City is one that uses existing and essential resources, such as street lights, to improve its current services, and create additional services, for its citizens. It allows for the City's Utilities and Telecom providers, and emergency services, to have ‘conversations', through the exchange of data and information, which help run the city more efficiently, safely, and securely. And, it allows the citizens to contribute to the data and information.

In other words, when a combination of LiFi enabled Hardware such as the Zero.1 streetlight IOTA (Intelligent Outdoor Tower Automation) and its City.1 software are merged, the City connects to its people, businesses and services

connect to people, and people connect to people.

How does Smart Information Communication Technology (ITC) change our lives?

At the start of wireless communications, we were excited that

smart city

there were no more frontiers when it came to accessing data. Today, this means that wherever we are in the world, we are connecting to third parties that are managing the data we receive. The challenge is that the data and information provided is often from someone who is far away, not even in the same continent, let alone the same city.

Marc Fleschen, Zero.1 CEO at the press launch

A Smart City enables a digital independence, a real-time communication exchange between people that are on the ground, able to give relevant, first-hand information about what is going on in their city. Everyone can be involved and everyone can contribute.

As CEO of Zero.1, what does Dubai’s commitment to Smart City mean toyou?

Marc Fleschen, Zero.1 CEO doing a demo of LiFi technology

Marc Fleschen, Zero.1 CEO does a live demo of LiFi technology

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, and Vice-President and Prime Minister of UAE, is committed to establishing Dubai as a Smart City. It was this commitment that made us decide to set up our headquarters here in Dubai’s Silicon

Oasis.

Zero.1 is committed to bringing LiFi to life, providing experiential and management solutions for public, community, industrial, commercial, leisure and home environments. We are here to ensure that LiFi technology will be an enabler for the Smart City vision to become a reality. It will be in the Municipal sector that we will first see LiFi in action in the City. This is where the people will first experience LiFi and its many benefits.

We have developed a technologically advanced solution, which adds a third layer of communication using a traditional streetlight bringing LiFi to life.

This Intelligent Outdoor Tower Automation (IOTA©) together with our City.1© Software provides a communication platform for SMS, VOIP and Internet, and connects people to places through motion detection and geo-localisation.

We can add cameras for safety, security, and transport control and can even monitor pollution levels and provide data storage solutions.

That is a Smart City.

Marc Fleschen Zero.1 Chief Executive Officer and Co-Founder A French native, Marc’s interest in international commerce started at an early age as he pursued his Bachelor's degree in Economics (1996) and a Master's degree in International Commerce (2000). A natural entrepreneur Marc chose the fast-growing innovative city of Dubai as the base for his international operations when he established his own company, JML Investment Group, in 2004.

Less than 3 years later, JML represented more than 32 European brands across 45 outlets, in the United Arab Emirates. The Group also operated an executive chartered airline company with a fleet of 24 planes, alongside several other retail, real estate and marketing businesses.

Marc was an early advocate for technology and its application in both business and lifestyle environments. His combined passion for technology, together with his strategic business acumen and international network, make him the ideal leader for Zero One.

www.innovationandtech.ae

59

INFOGRAPHIC

CLOUD MOBILITY FOR SMBS, THE SKY'S THE LIMIT

With the freedom of mobility and a growing adoption of cloud-based collaboration services, SMBs are now powered fore more growth and innovation than ever before

+

CLOUD TECHNOLOGY

=

BUSINESS ANYWHERE Ideas don't always happen within office walls.

In fact, businesses that incorporate remote workers see employee productivity rise by 22% The lines between personal and proffessional are disappearing

home

work

46%

71%

of business related calls originate within Wi-Fi zones

of SME workers use personal devices for business.

30

%

100M WORKERS

OF THE GLOBAL WORKFORCE TELECOMMUTES.

60

www.innovationandtech.ae

INFOGRAPHIC

CLOUD TECHNOLOGY $138B B

The number of the world's smallest companies using at least one paid cloud services will grow 3X in the next 3 years

TOTAL IT

SPENDING

50%

The cloud represents

agree that cloud computing is going to become more important for their business

68%

71

%

of all SMB IT spending

of SMBs require technology that enables their staff to work anywhere at any time

33%

Why move to the cloud?

say to acces information from any device, rather than cut costs.

$95B

CLOUD SPENDING PENDING

ANY DEVICE

By 2015, there will be 5.3 B mobile subscribers & 3 mobile phones. ho one ness.

That's at least (or more than) 1 mobile phone for every person on th the planet

By 2014, more Internet connections will be made by mobile phones than computers

s

4 time ,71

e1 ob gl

ugh phones to ci rcle eno s ' th at h e T

42%

SMBs have deployed mobile technology

33%

plan to buy more.

UNLEASH THE POSSIBILITIES

GRAB A MOBILE DEVICE AND TAKE YOUR BUSINESS EVERYWHERE YOU GO.

www.innovationandtech.ae

61

INFOGRAPHIC

THE

M O BILE W RKSTYLE

Today's workforce is changing the concept of where work is done. A variety of new devices and services are empowering the mobile worker to work where, when, and how he or she chooses

MOBILE PRODUCTIVITY

I don't need the oďŹƒce

I 2nd that

Me either

OUT OF THE OFFICE According to a Cisco study on the international workplace, the mobile workforce is now business-as-usual for enterprises around the world.

3 of 5 workers say they don't need to be

in the oďŹƒce anymore to be productive

MOBILE WORKING WORLDWIDE

Increasingly, work is something people do rather than a place people go.

32% of employees globally now

rely on more than one mobile device during the typical workday

62

www.innovationandtech.ae

INFOGRAPHIC

WHERE MOBILE WORKERS FEEL MOST PRODUCTIVE

46% IN THE OFFICE

2% ON AN AIRPLANE

38% WORKING FROM HOME

2% IN A HOTEL

9%

2% IN A CAFE

1% PUBLIC TRANSPORTATION

NO PREFERENCE

ENABLING MOBILE PRODUCTIVITY

According to a survey by Unisys and IDC, many IT departments are providing workers with mobile devices for work, but many workers report they've supplied their own.

87%

of IT managers say companies provide workers mobile phone and cover costs, but more than half of employees with iPhones, Android phones and iPads report they purchased the devices themselves.

www.innovationandtech.ae

63

INFOGRAPHIC

THE RISE OF MOBILE EMAIL Mobile email is booming enabling the growth of the mobile workforce.

According to comScore, between November 2009 and November 2010, fewer people accessed their email throughwebsites and significantly more checked email on mobile devices.

The meteoric rise of mobile email is being driven by the popularity of smartphones of smartphone users access email on the devices

78% Users Accessing Web-Based Email

6%

Users Accessing Mobile Email

+36%

30%

(Nov. 2009 - NOV. 2010)

DEVICE DRIVEN Enterprise mobility firm iPass surveyed more than 3,500 employees at more than 1,100 enterprise worldwide to find out how they use mobile devices.

Here's what they found:

of all mobile users access email on their phones (AS OF NOV. 2010)

TABLET BOOM More than 65 million tablets are expected to sell in 2011, and mobile workers are on the leading front of this push.

65% of mobile

workers use a tablet

64

www.innovationandtech.ae

27%

of mobile workers use a tablet for work

INFOGRAPHIC

TABLET GROWTH IS YOUTH DRIVEN AGE

MOBILE WORKERS AGES

AGE

AGE

AGE

22-34

35-44

45-54

55-64

70%

67%

63%

47%

use tablet

use tablet

use tablet

use tablet

MOST FREQUENT USE OF TABLETS AMONG MOBILE WOKERS

36% Send and receive email

35% Surf the Internet

HOW MOBILE WORKERS USE SMARTPHONE The survey also looked at what types of business apps and services mobile workers use on their smartphones

12%

7%

Read

Watch video content

(E-BOOKS, NEWSPAPERS, OR MAGAZINES)

SOCIAL MEDIA FOR WORK INFORMATION MANAGEMENT WEB CONFERENCING NOTE - TAKING OFFICE SUITS

www.innovationandtech.ae

65

To send in your entries, visit www.innovationsummit.ae

Disruptive Innovator Awards 2016

DISRUPTIVE INNOVATOR AWARDS 2016

Acknowledging innovators who want to change the world!

A shout out to innovators who think outside the box.

Can your idea, process, software or app make the world a better place?

Register

NOW

Award Categories Best Innovation in Sustainability

Best Innovation in Healthcare

Best Innovation in Education

Best Innovation for Public Good

Best Innovation for Business Growth

Best Innovation in Retail

Who can participate?

Any individual or company, based in the UAE, with a commercially viable innovation, is eligible for participation �

How we judge: The awards will be judged by a jury for the strength of concept, user interface, user experience & business model Each category will have two winners The Innovator Awards will be conferred at the Global Innovation Summit on 21st September 2016. �

�

Terms and conditions apply Each participant is eligible to submit a maximum of two entries.

Entries should be submitted only through www.innovationsummit.ae Closing date for entries is 28th August, 2016.

The decision of the jury will be final.

Disruptive Innovator Awards is part of Global Innovation Summit 2016 September 21, 2016 - Atlantis the Palm, Dubai

Global Innovation Summit 2016

Lead Sponsor

Sole Automotive Partner

The Future is Now!

Don’t Miss The Biggest Innovation Conference

September 21, Atlantis the Palm, Dubai

Social Innovations

Smart Cities

Internet of Things (IOT)

Digital Ecosystems

Disruptive Technologies

Why Attend?

Over 2000 high profile registered attendees.

Attendees consists of CXO’s, Entrepreneurs, Government dignitaries, Tech aficianados.

Powerful event agenda.

Productive & luxurious environment.

Possibility of one on one meetings with key decision makers.

To register, visit www.innovationsummit.ae or for enquiries call us on 0504278287 or email us at response@spiholding.net

Participate in the Disruptive Innovator Awards Disruptive innovator awards recognize the impact made by outstanding individuals to change the status quo. The award categories are Innovation in Education, Healthcare, Retail, Public Good, Sustainability and Business Growth.

DISRUPTIVE INNOVATOR AWARDS 2016

Strategic alliance partner

Organised by

Official magazine

The Future is Now!

Supporting partners

Supported by

Business association partners