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Artificial Intelligence
Importance of 'Business Element' in AI Research
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Automation
Logistics automation: Is it the right time for your business?
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Business Automation
Robotics Process Automation
CONTENTS
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From Connectivity to Value Creation: Fostering Entrepreneurship Through Disruptive Telecommunications
News Release
RBBi wins Seamless Award for the Best Use of Big Data
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Cloud & Big Data
New Age Telecommunication: The Era of Cloudification
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Changes in Facebook Policy Entrepreneurs Must Know
Why Focus on Technology Employees Would Love?
Technology to Empower SMEs like Never Before
Social Media Security
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Disruption
Entrepreneurs can Transform Disruption to an Opportunity
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Technology
SME Tech
CONTENTS
Innovation & Tech | May 2018
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CONTENTS
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Leadership
AI & Business
The importance of thought-leadership in brand development
Use your Business to Make a Difference
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Real Estate & Technology Real Estate Viewed Through Lens of Disruption
CONTENTS
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Blockchain and AR can Increase E-commerce Sales
Emerging Saas Business to Watch Out For
Mozilla Researchers Reveal Unknown Facts About Internet
Blockchain
Innovation
Technology Research
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Business News
Entourage Chief Acknowledged ‘The Industry Icon’ at Middle East Event Awards 2018
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Cyber Security Advice from Robert Herjavac
Empathy is Key to Human Bot Relation
Security
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IoT
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Blockchain Technology
Blockchain Technology: A Look at it from a Business Perspective
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EDITOR'S NOTE "Innovation today is not an option but a necessity, not a general culture but business style. Governments and companies that do not renew or innovate lose competitiveness and control. They are bound to regress." Shantanu Phansalkar Publisher, SPI Group
Dear Readers,
-H.H Sheikh Mohammed Bin Rashid Al Maktoum
Innovation leading to digital transformation is reshaping almost every aspect of corporate business. As technologies advance, becoming more intelligent and self-taught, the opportunity to create more streamlined enterprises increase rapidly. Keeping in mind this culture we are extremely delighted to announce the region’s Biggest Innovation Conference, The Global Innovation Summit in September 2018. What’s in it for you from a Business Perspective? Well Everything! Through inspiring keynotes, panel discussions, workshops & educational breakouts, you will learn to be even more audacious and bold than you are now. Come join us and feel free to grow your mind, grow your business, and grow your bottom-line. The Global Innovation Summit provides a platform where innovators will experience everything they need to find success – the ideas, the connections and the practical skills. Global Innovation summit is creative, strategic and tactical in spirit. Our warmest welcome to all of you to attend this summit and gain new and improved insights on growing as an Innovator. For more information, please visit: innovationsummit.ae Happy Reading!!
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Publisher & CEO: Shantanu A.P. Consulting Editor: Ramakrishnan Jayaraman Content Manager: Priyanka Kotoky Expert Contributors: Harish Krishnamoorthi Radhika Iyer Diksha Vohra Mohamed Khan Rohan Nathan Sirish Kumar Designer : Rahul A. Chauhan Distribution Department Jerry P. Sam Disclaimer SPI Publishing has endeavoured to bring out a publication that is reliable and informative. This is true to the best of our knowledge. The opinions presented are those of individual writers and not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced or republished for any commercial purpose or financial gain.
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Innovation & Tech | May 2018
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BUSINESS AUTOMATION
Robotics Process Automation 8
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BUSINESS AUTOMATION
- Have your employees been doing mundane, routine jobs day-in and dayout? Do you think you need to give them more challenging opportunities? - Does the workforce need to move from number crunching to analytical thinking? If you are thinking what technology has to do with this, read on!
Name: Khalid
Name: Rohit
Designation: Finance manager at a leading FMCG distribution company which has more than 50 outlets.
Designation: Senior Manager in a leading banking company
Important Tasks
He is responsible for the finance & operations processes in the company. He manages a team of 12 people doing journal entry postings, reconciliations, accruals, vendor and client onboarding. His company is rapidly expanding in Middle East. This has resulted in adding more pressure to Rohit. The volume of transactions have increased and his workload is doubled. The customers currently have waiting time for more than a week in order for their account to be created.
His sales guys sell all sorts of products to retail units. Sales targets are fixed for each product by the manufacturer. At the end of the month, when he has to pay out sales incentive to his employee who are more than 500 in number – he has to download sales data from his ERP and match it with the incentive policy and calculate the numbers manually. If this is not you, then move on!
Name: Samir Designation: Executive at Insurance Broking Industry. What does he do? He and his team members routinely upload customer data onto the insurance company website, wait for approval and then download all of these data once approved. This is then worked on in their ERP before insurance cards are sent out to their customers. He is unhappy as this is a routine job that involves no challenges. He is thinking of quitting.
Job Description
If you find yourself in Khalid, Samir or Rohit’s position – RPA will help solve all your problems. Programmed Robots work on customized scheduled tasks 24x7 and accurately to give you efficiencies in work. You can program the BOTs to start a particular task at a stipulated time with the real-time dash boards that augment visibility of task completion. Are you also thinking of governance issues because of the sensitive data that moves outside of your company’s technology boundaries? RPA is the solution to it – it is a technology that the company owns, operates, and modifies to suit its needs.
Innovation & Tech | May 2018
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BUSINESS AUTOMATION FAQs: What is RPA? RPA is Robotics Process Automation. It is a technology that uses virtual robots to automate routine processes. Will I have a physical robot working in my office? No! You will not have a robot sitting next to you at work. Jobs will be executed by virtual robots called BOTS How do I identify jobs that can be automated? Any job that is repeatable, rule based and has standard input can be automated. Is there any specific industry which is well suited for automation? RPA can penetrate across all industries alike. Be it banking, insurance, trading or shipping and logistics – there are a number of processes that can be easily automated. Is it very capital intensive to automate?
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No! The return on investment is about a year in almost all industries. How long is the development time for an RPA project? Typically development time is usually 4 to 12 weeks. What are the benefits of RPA? Increased governance, efficiency in processes and faster processing time in customer facing operations. We at GSC are BPR experts. We have helped organizations transform and streamline business processes towards business direction – and we believe Robotics is a key tool in BPR exercise. Going the RPA way is the direction to a futuristic organization. From RPA stems machine learning which paves the way to creating an Artificial Intelligence backed organization. To learn more on how to benefit from RPA – do write to us! We’d be happy to hear from you!
devi@greatsands.biz
About Greatsands: Your trusted thought partner Great Sands Consulting is a rapidly growing consulting firm from UAE. We deliver consulting engagements globally with a passion and commitment to transform our clients’ businesses through a partnering approach on the following areas: Drawing achievable and well thought out strategic blueprints, and transforming business models Transforming the Organization underlying Effectively using technology for better collaboration and decisionmaking Creating an environment that empowers and encourages people to raise their performance levels Achieving efficiencies through Streamlined Business Processes Re-engineering the financing models
NEW RELEASE
RBBi wins Seamless Award for the Best Use of Big Data
18 April 2018 Dubai, UAE - RBBi, the first accredited usability & digital marketing agency in the Middle East covets the prestigious Seamless Award for Best Use of Big Data with Al-Futtaim Automotive. The award was presented at the 2018 Seamless Awards, which took place at the JW Marriott Marquis, and recognised the team capabilities and experience in data and analytics in the region.
Commenting on the award win Byron Gavin, Head of Data & Analytics at RBBi stated, "To receive industry recognition in a category representing the future of our industry is an achievement we are immensely proud of. With vetted panellists, tough criteria, and a shortlist of five strong nominees, we are honoured to be recognised for the work completed with Al Futtaim Automotive and for the opportunity to flex our digital analytics solution to deliver an award-winning campaign.” The Seamless Awards is an annual event that honours companies and individuals in the payments, e-commerce and retail industries, who have demonstrated an unparalleled ability to succeed. At the event, RBBi was recognised for the work completed for Al-Futtaim Automotive positioning the digital agency as a data-driven consultancy and not just a performance marketing firm.
Al-Futtaim Automotive sought to streamline their offline and online data sets to enable their sales team with reliable customer insights. RBBi exercised creativity by introducing the concept of machine learning and the ability to predict customer behaviour through analytic modelling. The dataoriented approach implemented resulted in a considerable increase in sales and revenues with 400% higher lead conversion rates and 233% higher conversion rates from lead to showroom visits.
“Providing our clients with award-winning digital platforms that get results is our primary goal at RBBi,” added Gavin. “To have our work then be recognised by Seamless is a validation to our partners that we’re doing things right.”
About RBBi: RBBi (Red Blue Blur Ideas) is the first accredited Usability & Digital Marketing agency in the Middle East. It is a specialist agency offering UX/ UI, SEO, PPC & Analytics.
Innovation & Tech | May 2018
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CLOUD & BIG DATA
New Age Telecommunication: The Era of Cloudification As society and business undergo a digitally-driven transformation, operators will need to evolve in order to execute the future-focused initiatives of tomorrow
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n the telecommunications sector, ‘Cloudification’ is more than a buzzword today– it is a reality. As technology expands and governments, enterprises, and individuals alike grow increasingly dependent on connectivity to operate, Cloudification becomes an essential component in delivering efficiency, scalability, and optimising costs. Today, with digital transformation of enterprises well underway in the Middle East and beyond, telecom operators are perfectly positioned to create new business opportunities for themselves and their customers by taking connectivity a step further and turning it into fullfledged ICT solutions providers with Cloudification as the cornerstonae. Beyond the benefits of offering Cloud-services by telcos, in terms of greater operational efficiency on every front, Cloudification caters to customers’ increasing expectations for services on demand. Enterprise customers have come to depend so heavily on connected tools, services,
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and solutions that operators, in delivering these digital essentials, must take a Cloudification approach in ensuring that connectivity remains within reach for customers in the digital era. In the era of Cloudification, operators’ role will be transformed as telecoms and IT become more integrated than ever before. They will play a key part in supporting industries by providing the services and solutions that will support industrial development in the digital era. In turn, operators will need to establish new business models that will take them beyond connectivity with networks that are more robust and intuitive. As data traffic increases exponentially and customer demand continues unabated,. Cloudification enables this to happen by delivering shared computing resources on demand through public and private networks. Especially with regard to next generation technologies and the large-scale virtualization propelling them forward, Cloudification is an essential step in operators’ evolution. As services become available at the edge of networks, the progression to Cloud will do more than increase scale and efficiency for telcos; it will also reshape and transform businesses while
opening new revenue streams for enterprise customers. As such, telcos have the opportunity to create new business uses by extending their services beyond connectivity to a range of industry verticals with horizontal applications such as AI, real-time automation, remote operations, maintenance sensing, enhanced video services, and much more. Through edge computing in particular, digital tools and services can operate at greater speeds, with less latency, and with weaker network connections. Information can be processed more easily and faster, as edge computing deployments eliminate the need for all IoT devices to be connected to a central cloud at all times or to pass through a data center for cloud processing. As a result, services are delivered quicker, with less resources used in the process. One of the most tangible ways in which Cloudification and edge computing have jointly altered business operations for enterprise customers can be seen in the way we work. Today, businesses can assemble virtually and connect across countries and even continents, working more efficiently and effectively in the absence of time, location, or accessibility constraints. In turn, they are more collaborative,
CLOUD & BIG DATA
resourceful, and productive than ever before, thanks to the conveniences afforded to them by Cloudification. Beyond the human advantages of large-scale cloud computing, enterprises are also experiencing a considerable increase in the computing power available to them, and at a much lower cost. This availability of immense, affordable computing capabilities helps level the business playing field by giving enterprises of every size and stature access to the advanced tools and ubiquitous connectivity that enable them to succeed in today’s digital business landscape without as many financial limitations standing in the way. The advantages of Cloudification and edge computing are equally beneficial for enterprises as they are for the operators enabling these vital components of network evolution. Innovations like these are ushering in the age of Smart business and laying the groundwork for a connected Smart future from every angle. They are disrupting entire industries with the tools and services that will help shape the future – and they are deeply rooted in the era of Cloudification.
Farid Faraidooni
Deputy CEO of EITC – ICT Solutions
Innovation & Tech | May 2018
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DISRUPTION
From Connectivity to Value Creation: Fostering Entrepreneurship Through Disruptive Telecommunications Disruption drives the entrepreneurial business model, which relies on the value created through connectivity-based services and solutions.
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n the last decade, the world has experienced a sharp increase in the proliferation of entrepreneurial endeavours, in part owing to greater access to the
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digital resources and widespread connectivity that enable business endeavors to get off the ground in today’s always-on world. Consider: early-stage entrepreneurial activity has grown from 11.8 percent of the world’s adult population in 2008 to 16.4 percent in 2017, despite a global economic struggle during the first half of that timeframe. And in the GCC, entrepreneurial activity is one of the main social and economic drivers for the region.
According to a survey by Bayt. com, 71 percent of respondents in the region would prefer to be self-employed, and 59 percent are contemplating starting their own business. Of those who have already entered the entrepreneurship arena, less than one-fifth have failed thus far. This growing success of entrepreneurial endeavors can reasonably be attributed to the increase in availability of the resources that
DISRUPTION For operators, the growth of entrepreneurship presents a range of opportunities to go beyond conventional connectivity and assume the role of solutions provider through disruptive technologies that bolster online security, digital communication, and operational efficiency. In order for a company to achieve long-term goals, it must have tangible plans to solve long-term problems; and in order to solve long-term problems, it must be able to adapt and expand. As technology evolves and new capabilities emerge, businesses must have the digital resources to capitalize on this transformation and utilize it for fulfilling their corporate intentions. If entrepreneurs can learn to adapt to fulfill evolving needs with ever-changing technologies, they can in turn maintain and sustain their businesses in the long term. As such, telecom operators must redefine their scope and create a new layer of cloud-based digital infrastructure that promotes innovation and fuels entrepreneurship by acting as an idea incubator in a connected world. As a result, entrepreneurs will be able to build new business models tailored to serve a society amid a technological transformation. Much like many of the now-pervasive global giants that began as startups, such as Uber and Airbnb – or those closer to home, like Souq.com – entrepreneurial endeavours will come to depend largely, if not entirely, on the availability of advanced digital solutions like Managed Services and advanced 5G network access. As entrepreneurs carve out a growing space in the modern business landscape, telcos will be responsible for providing the connectivity that creates value and fosters growth for budding businesses. In line with this, telcos such as du strive to turn connectivity into value creation for entrepreneurs and enterprises across the board. As one example, through initiatives like WiFi UAE, a nationwide service that provides WiFi access to the public in line with UAE Vision 2021, du is making it easier for entrepreneurs to make their mark and pursue sustainable business. By enabling people across the country to stay connected wherever they are, du is facilitating the innovation and collaboration that are foundational in turning ideas into reality.
enable entrepreneurs to break into the business landscape with companies that cater to evolving demands in the digital era. As business operations baecome increasingly digital with every passing day in the face of a global technological transformation, telcos provide the necessary tools and resources businesses need to deliver on their brand promises and execute their missions. Today, connectivity translates to value creation; and for businesses hoping to succeed in a competitive marketplace, IT tools and services, digital infrastructure, and connectivity will play a vital part.
The future of entrepreneurship hinges on a connected society and, by extension, a connected marketplace and business landscape. As the world evolves to embrace digitalization from every angle, connected services and solutions will create value in connectivity provided by the telcos of tomorrow. Through disruptive telecommunications that align with the disruptive entrepreneurial business model, telcos are increasingly responsible for fostering innovation and helping lay the groundwork for the continued prosperity of entrepreneurs in the region and around the world.
Fahad Al Hassawi Deputy CEO of EITC Telco Solutions
Innovation & Tech | May 2018
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ARTIFICIAL INTELLIGENCE
Importance of the ‘Business Element’ in AI Research
A
rtificial Intelligence has been revered by the business world ever since its inception. But a closer look would reveal to you that it is more a novelty than something that would actually bring in to you some profit. The idea and the information has definitely opened up a new dimension in the otherwise simple business world. But AI to some level is all that it is. A novelty, an idea. If you look around you will see that the world is full of AI products that can only boast of disposable novelty technology. To give an example the 3D drawing pen. This is not something that would ever bring out anyone’s inner genius. AI has a lot of potential. The reason why it has still not been able to reach through to a breakthrough is because entrepreneurs who are actually considering the idea of implementing AI in their business do not really care to conduct a market research that would be able to really address the market for a product. They have built
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something that would just allure the privileged few for a temporary basis and move on! There has been AI experts who claim that it is still too early to expect that kind of a breakthrough in business, while there are those others who claim that the first wave of AI in business is sure to fail. AI in itself has a great potential. It is powerful. Let us take a look at what can make AI realise its potential in business.
1. Entrepreneurs must be Careful about the Researcher Led AI Implementations in Business. There is a huge shortage of talent in AI. Many companies who are looking at developing their AI side look for support from PhD’s from universities. Facebook gives a peek into the situation. Facebook as we all know boasts of a 100 researchers as staff. There are very few, maybe next to no company who can actually make such a claim. But even after this the Facebook Messenger AI group was shut down after it achieved a 70 percent failure rate. One cannot look away from the fact that this failed because there has been a shortage of talent to follow it out.
The failure of AI in this business world is said to be because of scientific research rather than IT implementations. The Nature magazine has recently reported that “More than 70 percent of researchers have tried and failed to reproduce another scientist’s experiments, and more than half have failed to reproduce their own experiments.” The AI industry has brought in a lot of academic research scientists to give the AI a prospect in business but this has resulted in a lot of experimentation with customer’s business. This is because researchers do not have the necessary business skills to ensure that a business has optimal business outcomes. We can conclude from this that the AI failures in business are also because of the absence of business analysts and customer success specialists on the AI team.
2. The Need of Business Experts in AI Research The AI research scenario in business has evolved slowly. Researchers are one of the important aspects of AI Ecosystem. The inclusion of developers and technologists have made the eco system even richer. The AI
ARTIFICIAL INTELLIGENCE
ecosystem is still growing at a slow pace and are working hard to establish best practices and standards in the industry. This has been the way forward with all the new technology in business starting from cloud computing, digital transformation etc. But the problem with AI is that businesses are not trying to understand the customers’ and business needs. To give an example, we are all aware of Silicon Valley who pioneer the creation of glamourous technologies. These technologies always fail on the first try because they do not have the necessary market fit. People in business need to understand that the best technology might not come across as the best technology in one’s business.
3. Focus on Customers For AI to work for business it is important that entrepreneurs spend some time understanding the
relation between AI, businesses and customers. AI is not a one-off technology. It affects everything in a business from its start to finish. But entrepreneurs need to understand that AI technology must fit a business. The fact that AI reaches far into a business makes it important for entrepreneurs to make sure that they approach an AI initiative that suits their business. Entrepreneurs who are looking at making AI work for their business must make sure that they are doing it right. Innovating something just because they have the talent and the money for a short term basis will not in any way make them a business that is powered by AI. AI has the potential to take a business to success. One simply needs to know how to make it align with one’s model. It has to be noted that AI needs to align to a business model. The scope of AI is vast and a company trying to align itself with AI would only find itself trying to make
a match forever. This is the reason why the businesses of today has not made a breakthrough. They are still trying to fit in whereas it must be the other way around. Research in AI is important but an entrepreneur thinking to make it work in business must understand that researchers or scientists would not have the same expertise in business as a business expert. Entrepreneurs must think of creating a business AI team that is powered not only by scientists and researchers but also by business people. Lastly let your customers decide what you should innovate. Entrepreneurs must go ahead with AI research keeping in mind the customers. Many of the AI business models do not work because it does not interest customers for long. Arm your AI in business research with business experts, a business vision and customer satisfaction. This will surely make your AI research a success.
SPI Group Think Tank
Innovation & Tech | May 2018
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SOCIAL MEDIA SECURITY
Changes in Facebook Policy Entrepreneurs Must Know
T
he Cambridge Analytica Breach has naturally made the business world look up and take notice of the security threats that it might face. Every business that we now know of has a strong digital presence with many of them using Facebook for marketing and social media promotions. A Recap of the Breach Mark Zukerberg’s testimony says that the Cambridge University Researcher Aleksandr Kogan had worked on to create a personality quiz app on the Facebook Platform back in 2013. This app was installed by a number of 300,000 people. This app gave Kogan an access to
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data of tens of millions of users who were spread across Facebook and had installed the app. However, Zuckerberg insisted that Facebook was unaware of the fact that Kogan has shared any data with Cambridge Analytica until 2015. The company later went on to announce that they had formally deleted all the improperly acquired data. The firm it has been reported had used the information to build psychological profiles to categorise American Voters. This has however been just a claim and there has not been any evidence that Cambridge Analytica has actually taken steps to delete the data to which Zuckerberg maintained that they have agreed to do a forensic audit by a firm. The Cambridge Analytica Breach can be said to be one of the most infamous breach so far. Facebook as an organisation is now bound to make some change in its workings. This change would definitely affect people in
business who are looking at working using Facebook for social media promotions or anything remotely. In fact entrepreneurs must be aware and be on the lookout of what the future of Facebook may mean to their business. Here is a look at the plans that Facebook has to prevent future breaching incidents.
1.The company would see an increase of the second hand data protections: The company has started to implement new ways by which to secure data of users. For example, the company is said to be introducing restrictions on tools like groups and events. They are taking this step to protect the data of other users who might be a member of the group or simply be a person attending an event other than the user logging in. However Facebook has not released any word yet on how these tools will be restricted.
SOCIAL MEDIA SECURITY It is quite natural to expect that Facebook would introduce more political ad transparency in their organisation. It is said that the future would see labels being introduced as political or issue ads. It would also highlight who paid for these ads. To top it Facebook also plans to launch a ‘searchable archive’ that would have all the details of the past political ads. The company is also believed to be testing a tool that can shows all the ads that a page on Facebook is running.
6. Facebook will introduce a Quicker Implementation Timeline: Mark Zuckerberg has said that all the Facebook ad changes will be complete hopefully months before the 2018 elections. He has also said that his company plans to complete the work before the upcoming elections that would take place in India, Pakistan, Mexico and Brazil.
2. There will be a new feature that restricts data permissions for apps: Mark Zuckerberg has said that Facebook users who has not used an app for three months will not have their data accessed by developers of the app. He also added that users no longer need to grant apps access to their public profiles and friends lists, etc. Providing names, a profile photo and their email addresses would be enough going forward. The company stated that it has already started showing users a list of the apps that they might have used and have included with it ways to revoke the data permissions that they might have provided at the time.
3. Facebook says there will be an Increased Oversight for App Developers: Facebook says that it plans to introduce more regulations on the
back end of the developers and advertisers. The developers would now have to sign contracts that has ‘strict requirements in order to ask anyone for access to their posts or other private data’ before they can go on with their work. Facebook however has not explained what the restrictions would be.
4.There will be an Increased Oversight on Advertisers: The Facebook Ads would change the way we have always known it. Facebook says that every advertiser who advertises on political issues will now need to be authorised based on their identity and location. The company has also said that it plans to extend the verification to users who seem to manage large pages with lots of people to help prevent viral misinformation.
The Cambridge Analytica Breach has surely made the world a little wiser. The implementations of the change would naturally have a lot of impact on people in business who had been earlier relying completely on Facebook without a thought that it can lead their data to be stolen from a platform they trusted so well. There has not been any implementation yet of the promised things but the future surely seems to be a little cautious. The Cambridge Analytica Breach has made Facebook a little more mature and businesses a little more cautious about an online exchange. The online world will be a better place if the new changes are brought about by Facebook. It will bring about a level of security that was earlier missing. It was something that interestingly people did not think it important enough to change. Cyber security has always been a problem in the business world but the fact that a threat could come from a place as secure as Facebook or maybe a place people claimed was secure was something that no one even imagined. We can only hope that the changes that are promised are actually implemented. This would really help the business world to trust Facebook again.
SPI Group Think Tank
5. More Political Ad Transparency: Innovation & Tech | May 2018
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TECHNOLOGY
Why Focus on Technology Employees Would Love?
B
usiness is synonymous with using technology. The people in the business world has reached a stage where a business transaction cannot be thought of without the use of technology. Entrepreneurs many a times do not even realise that they are using technology because it has merged so well with the whole structure. But this sense of comfort is often broken with little questions that are made up of the concern about technology stealing jobs. There is always an air of insecurity in the employee’s minds. While some might feel empowered about having technology to help them, there are those others who feel a threat to the office work that they knew. Entrepreneurs need to understand that to have a great working culture, they need to make
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sure that the introduction of new technology in their business works as something that makes their employees feel secure. Entrepreneurs face a real problem while trying to convince employees that new technology exists only to make their lives better because of the simple reason that the technology of today are not made while keeping real users in mind. The problem becomes even bigger when an entrepreneur sees that the market is full of alluring technologies that often are time consuming and counter-productive when used. To browse through and find something worthwhile that would also back an entrepreneur’s claim that he/she is simply there to make working easy is a difficult task. It is important that you as an entrepreneur know that the tools that you have deployed are helping to engage and retain your employees. But how can you make that out? Here are three signs that answer your question.
1.The Technology Seams Effortlessly with Employees: Technology that has an effortless usage is what you should focus on. A technology that is unassuming and unintimidating has the potential to make working easy for your employees and also reinstate your statement that you are there to help. Look for technology that seem to get integrated in the way that your business team works. Allow something to be so seamless that it fades into the background and employees do not even notice that they or you are using something remotely unfamiliar. This would also benefit an enduser because they are only looking at using something that works. Give your employee and your end-user something that they can access and get what they are looking for. There has been a rush among entrepreneurs to include technology because everyone else is doing so. The existence of a new and updated technology is often believed to give that extra edge of being on top of
TECHNOLOGY
It is important that you as an entrepreneur know that the tools that you have deployed are helping to engage and retain your employees. things to entrepreneurs. It is time to look at some important questions before following after a technology now. Entrepreneurs must look at how this technology can be useful to a business team and organisation.
2. Use Technology to Free Employees: Look at including technologies in your business that can free up your employees from automated work and help them to focus on tasks that add value to a business. Automate the functional duties that a technology can take up like approving time sheets or filling open sheets. Tasks that are mostly based on strict logic, predictable inputs and a set of rules can be easily programmed, scaled and repeated. These are the tasks that a new technology must be able to look at doing efficiently. Employees will then be free to focus on tasks like relationship building, problem solving, etc. The problem with businesses introducing technology is that business men do not focus on this dimension of introducing a technology. Entrepreneurs in fact make their employees adjust to the new technology rather than it going the other way round. This is what causes a concern among employees. This needs to change. Entrepreneurs must make sure that when it comes to technology it
should be an assistance to its human employees.
3. Collaboration in Teams: It is an accepted notion that the advanced tools in businesses make it easy for teams to collaborate with the team members. But there has been many instances when this assumption has been proved wrong. Collaboration is an important part of a business. It increases creativity. The exposure of a problem to different team members gives a business the possibility of solution that is otherwise lacking in people who are working alone. Entrepreneurs understand this fact and are eager to assist their teams with great tools that help in effective collaboration. But the problem is they overlook the fact that there has been a report that some tools actually work to distance workers. Some tools work for some business while some others do not. You as an entrepreneur must look at the tools that you think suit your team the best. Every entrepreneur need to sit down and analyse what collaboration tools would work and not just heap the business with collaboration tools that they struggle to use.
Running a business is a difficult job. Running a business and simultaneously looking at providing the security to your employees while looking at technology that would support your claim is even difficult. But it is not impossible. You need to simply understand the framework that make your business. Find the points that might do well with the inclusion of a technology. Do not force a new technology on a team that is better off without it. Invest only after you are sure that it would give you the help that you are looking for. Back your decision to include technology on the basis of a research, proper requirement and if possible after a counsel with the teams. This would make sure that your business doesn’t suffer from having to welcome something that does not fit in. Get an opinion from others in business. Simply following the crowd would not lead your business to any real solution. Find out the basics, find out what suits your business and work on it. A little research would help you to keep your employees technologically happy.
SPI Group Think Tank
Innovation & Tech | May 2018
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LOGISTICS AUTOMATION
Logistics automation: Is it the right time for your business? Increasingly businesses have come to understand and appreciate the role played by automation in increasing productivity in warehouses. Not surprisingly, warehouses for e-commerce businesses are the leading drivers for the automated logistics market globally. The warehouse robotics market was valued at USD 2.28 billion dollars in 2016 and is expected to grow at a CAGR of 11.8% between 2017 and 2022 to $4.4 billion dollars*. A reduction in time spent on tasks like picking and storing in a cost-efficient manner inside the warehouse is the top priority for any growing business whose backbone is dependent on logistics. Large businesses clearly recognise the need for more cost-effective and less labourintensive solutions to managing large amounts of stock via automation, but smaller businesses can benefit equally. Automating a distribution centre can potentially improve its pick performance by more than 50% and save around 3-4 hours’ shipment time per delivery per store for the business, which is a significant saving. 22
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usinesses that have invested in automation for their warehouses most likely had a vision of a more productive, streamlined approach to their warehouse operation.
Grow Smart
A smaller business may question the need for automation. While they may not yet face the problems of high demand, investing in minor changes early on means their operation is adaptable for more automation to be installed when required. Futureproofing their facilities can offer a host of benefits to smaller businesses. The biggest benefit, however, is that when their operation becomes busier in line with growth ambitions, they will find that automating their processes can be undertaken with as little disruption to the business as possible. Futureproofing a facility is not a complex task either. It can be as simple as having a new warehouse management system (WMS) implemented or automated transport installed. This is usually the foundation for businesses to start thinking about more complex
LOGISTICS AUTOMATION designs, extensions or modernisations when demand increases. At the same time though, it is important to grow with flexible systems, as growth can be dynamic. Another trend that businesses would benefit from is Industry 4.0. Industry 4.0 is a name for the current trend of automation and data exchange in businesses. It includes cyber-physical systems, the Internet of things, cloud computing and cognitive computing. Industry 4.0 is commonly referred to as the fourth industrial revolution and attempts to create a “smart factory�. Industry 4.0 as a concept is equally relevant to smaller business as it is to big. By simply integrating Industry 4.0 concepts and technologies, smaller businesses can provide individualized products and services and digitalized equipment that will be highly adaptive to demand changes. Not only that, introducing digitalized operations to a small facility, in all likelihood, will be less time-consuming than introducing it to a large distribution center.
Return On Investment: When is the investment in automation justified? Business leaders sometimes focus on dealing with warehouse issues on a daily basis rather than implementing long-term solutions, mistakenly believing they are avoiding new expenses and capital investments. In the long run though, avoiding or delaying investment in
operational improvements is likely to result in increased costs. Delay in implementing automation solutions can lead to other unanticipated costs as the business grows, such as from lost revenue from missed delivery dates, inaccurate or damaged orders or even worse, losing loyal customers forever as a result of being unable to meet customer service level agreements or expectations. Nevertheless, the constraints on capital are a harsh reality, especially for a growing company. Often they are forced to decide whether to invest in infrastructure for manufacturing, marketing and sales or whether to invest in distribution infrastructure. Making the choice harder is the fact that investment in distribution modernization also competes with funding for building construction and rental and operational expenses. Under such circumstances, a judicious decision about capital investment for distribution can be taken only when the cost of doing nothing in the warehouse is weighed against the cost to automate and modernize. Businesses should realise that doing nothing brings with it significant hidden costs. Growing e-commerce businesses are especially vulnerable to being impacted by these hidden costs, as sales rise significantly in a short span of time, leaving them ill-equipped to meet
demand. In such a situation, the chance of distribution centers falling behind due to a lack of modernized warehouse automation to support them in realising their growth ambitions is high.
About Swisslog Middle East Headquartered in Switzerland and present with a local office in Dubai, Swisslog is a subsidiary of the German robots manufacturer KUKA and is organised in two divisions: Logistics Automation and Healthcare. Swisslog Logistics Automation is shaping the future of logistics automation and transforming warehouses and distribution centres to achieve maximum efficiency, flexibility and agility. Our Industry 4.0 and robotics innovation means our automation solutions are always future-ready. By understanding and analysing your data, we optimise the performance of your operation. Our complete solutions include consulting, concept studies, project implementation, customer service, bestin-class technologies and software, all tailored to the specific requirements of your business. Our portfolio consists of different key technologies, such as conveyor systems, ASRS, AGVs, shuttle systems, monorails, robotics and warehouse management software. Together with KUKA, Swisslog establishes an Automation Powerhouse and drives the automation in logistics. Customers relying on Swisslog's experience include Central Bank of Kuwait, Almarai, Mai Dubai, Axiom Telecom, PepsiCo, Coca-Cola, Roche, Target, Fossil, ASDA and Wal-Mart. Swisslog has a comprehensive portfolio, ranging from the design of materials handling systems, through system integration, to comprehensive customer service. Swisslog has expertise based on over 2000 projects in more than 50 countries worldwide. For more information,
visit www.swisslog.com
Alain Kaddoum
General Manager of Swisslog Middle East
Innovation & Tech | May 2018
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SME TECH
Technology to Empower SMEs like Never Before
Technology is giving a competitive boost to SME and the big corporation better watch out lest they take away the popularity that they now have. 24
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SME TECH
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one are the days when SMEs posed no threat to the big corporations. The SMEs of today has become a serious competition for the big guys in business. The innovation of technology has made it possible to revive the SME game by driving the service’s resurgence. Technology is giving a competitive boost to SMEs and the big corporation better watch out lest they take away the popularity that they now have. The Pew Research study states that one in five Americans earned money by selling something online. This was followed by nearly one in 10 has earning money through digital platforms that allow them to take on a task. There has also been a rise in that 1 percent of people who have rented out their properties and made money by using a homesharing site.
Here is how Technology is Reviving the SME World 1. Technology Makes the Small and Big Business at Par: The business technology of today are giving out tools and apps that make them at par with the big organisations. Companies like Amazon, Paypal, Kabbage etc are making it possible for the small retailers and service providers to compete with the big box retailers and brands. The rise of SMEs are for real. It is old news that the brick and mortar stores like Sears, JC Penney’s, Kmart and Macys have shut down because of the platforms like Amazon that make it possible for SMEs to thrive. There has also been a recent report by the retail think tank namely Fung Global Retail & Technology which estimated that the widespread closures of these four chains which sums up to nearly 400 stores will make it possible to have approximately $2.5 billion in sales up for grabs. But the threat to the big corporations do not end here. Apart from reviving the small retailers and service providers, the technology
has also given rise to the humble gig economy that earlier went unnoticed. Uber, Airbnb, etc. are increasingly giving workers the flexibility and control of work without the need to have any investment. The various mobile apps, POS systems and the back office tools have made it easy for many businesses to take part in the new and emerging sharing and convenience markets.
2. Millennials Favours Change: It has been proven that millennials prefer a new way of working and that includes preferring personalised services. Millenials form mostly the largest population in any country today and their preferences are sure to bring a change. There has been a recent survey by Coldwell Banker Commercial Affiliates that stated that almost 40 percent of millennials who were surveyed believed in supporting small businesses while making buying decisions. Supporting small businesses is something that is important to them. The millennials spend an amount of almost $600 billion annually. Given this scenario it is possible that they will have a huge financial impact in the business market. There has also been an Accenture report on the same that states that millennials will most likely spend $1.4 trillion annually in the coming years. It is also possible according to the report that millennials will represent 30 percent of retail sales in the future. The fact that millennials are also looking at becoming smallbusiness owners themselves add to the possibility that SMEs are here to stay. A study by SBDC has reported that 49 % of millennials were eager to start off their own small business. Another 26 % has been said to have lived off an income that came from the income by their small business. The increasing availability of technologies, easy-to-access capital from companies like Kabbage, topped with the availability of online tools by SMBs make it possible for millennials to take their vision forward. These tools help anyone aspiring to be successful SME owner to create an ideal
environment in which to thrive their own retail and service companies.
These developments naturally bring us to the question – Will Small Businesses take control over the market place now? There is a chance of a rising popularity for small businesses in this age. There will also be a rise of small businesses super-services technologies and tools. These are the companies that provide all the services that a small business might need starting from infrastructure to insurance, accounting to marketing etc. all under one roof. These super services will allow the small companies to compete even more strongly against their large rivals. The fact that every step of running business would only become easy will make it easy for people in business to set up shop, gain the requisite exposure, source and deliver. These super services will also go on to reduce operational distractions that would empower small businesses to achieve more. These developments will be backed by the millennials’ entrepreneurship spirit and naturally the future looks bright for the SMEs. SMEs would be more popular and might be a real threat to the great corporations if everything goes this way. The large enterprises will definitely see a change in priority and importance in the coming years. It is best that they prepare to accommodate themselves wisely in the new change that is coming to the SME World. Fighting it, resisting it won’t lead businesses anywhere. It is best to take charge, get involved and change with the changing times. The idea is to speak the language that the market speaks. Maybe if the big enterprises move with the change, speak the SME language and connect the way the new age SME’s do with the consumers then there is nothing to worry. This would in fact along with a big corporations standing only add to the business. You as an established entrepreneur must look at this change as something that you can make money on. You can partner, get involved in their causes and bring about an even stronger revolution by supporting them. Be prepared to go with the change that comes in the market. This will help you to reach real business success.
SPI Group Think Tank Innovation & Tech | May 2018
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BLOCKCHAIN
Blockchain and AR can Increase E-commerce Sales have you ever wondered how you can use technology to boost e-commerce sales?
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he Technological Revolution has revolutionised the way people do business. From finance to business laws, every aspect of the business world has been rocked by the new technological revolution that seem to have emerged. While there are entrepreneurs who still struggle to understand how they can implement a technology to boost profits, there are those ambitious entrepreneurs who implement everything that seem to be working for their business. Talking about the sales and marketing of businesses
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Well, if you have not then it is high time that you did. It is old news that the brick-and-mortar store of yesteryears are making way for the e-commerce businesses. For those who stick to the brick-and mortar stores make sure that they do not forget about the e-commerce dimension of their business. E-commerce has been the favourite of the business world and it has remained so. Born of Technology the technology crazy business world has all the reasons to be so. Entrepreneurs who understand this has made the required connect and has started to use technology to increase their sales.
Let us look at how you as an entrepreneur can use technology in your e-commerce businesses to increase sales.
1. Redesign Supply-Chain Economics: There has been many innovative ways of doing businesses observing which entrepreneurs can learn a lot about business skills. The fact that technology and unique value offerings should be present in all the important business strategies is accepted by these entrepreneurs who lead. To give an example, SHOP is a company that uses the art of leveraging a new offering with the use of technology. SHOP is a Blockchain-based retail platform that has been created
BLOCKCHAIN
Entrepreneurs who understand this has made the required connect and has started to use technology to increase their sales.
opportunity to make innovation in many ways.
2. Make Augmented Reality a User Experience: Apple and Google has released AR developer kits in the last year. This followed by an advance of hardware devices makes the business world ready to go mainstream with Artificial Intelligence. Fluffr is a company that is using the Blockchain Technology to explore the AR space. It has opened up a platform that rewards any user with tokens that can be used to interact with and promote AR experiences by influencers and brands. There are two types of tokens that are collected. They are namely Fluffs and Carats. These tokens can be exchanged for real currency or prizes. However one has to use only the Fluffr marketplace. The whole Fluffr business aims at popularising AR. It wants people to use AR apps and experiences and get paid for using it. This will lead to a completely new and immersive e-commerce experience for brands and consumers in the business world. The Fluffr and ARfocused platforms has also made it easy for other entrepreneurs to create these experiences for their customers affordable.
3. Accurate Customer Data: by John Wantz and Jamie O’Shea. The SHOP is designed in a way to act as the information marketplace where consumers can acquire brand tokens in exchange for sharing preferences, profiles, purchase histories, preferred styles and other data. This data is stored in the SHOP platform and people can use this information to improve interactions between shoppers and brands. This is one supply-chain economics redesign that the business world has not experienced before. This redesign not only enables consumers to create new value exchanges and approaches to margin/price, but also, gives an
It is a known fact that access to accurate data is key to creating more effective ad-targeting. This can increase the sales of a company. But this is a piece of advice that entrepreneurs know but do not follow. In an article by Axios it has been mentioned that many entrepreneurs do not even know if their audience are real people or bots. It is increasingly important that entrepreneurs have a data base of consumers who are real people and who has given their consent to receive promotions. This has been taken forward by a company named YouGov direct that works to help brands gain more value through their advertisements with the help of their Blockchain based platform and advertisement network. This can completely make a business gain the correct contacts and data base of consumers who they can make into long term customers.
The technologies in business have the capacity to provide solutions that even the sharpest of business minds do not think of. Entrepreneurs who want to thrive in the future of a business world must familiarise his or her business with the technological advancements that shape the way people do business. A large number of entrepreneurs are finding ways to implement the profit making technologies in their business. It is also important that you keep a track of the companies like Fluffr, SHOP and YouGov etc., so that you know the latest in technology in business. Running a business is not only about following the rules, but it is also about evolving as a business.
- Are you an entrepreneur who can make into the future of business? - Does your business have the necessary technological knowledge that can help it go ahead in business? - Are you as an entrepreneur focused enough to thrive in a technologically advanced business world? - These are the questions that you should ask yourself when you assess yourself. Entrepreneurs who stay ahead of the game are the ones who also stay ahead in business. Look at your business closely. Where do you think you can use a new technology? Once you find that space, implement it. The e-commerce world is sure to change a lot from what it is now. Every transaction that takes place in the e-commerce industry is just a step towards a greater revolution. It was only yesterday that people thronged to Brick-and –Mortar stores. But looking at the way the people throng at e-commerce sites, brick and mortar stores seem like an ancient memory. Empower your business. Arm your e-commerce business with technology and give it a chance to become a success.
SPI Group Think Tank
Innovation & Tech | May 2018
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BUSINESS NEWS
Entourage Chief Acknowledged ‘the Industry Icon’ at Middle East Event Awards 2018 Mohammed Tayem becomes the first person from the Middle East to be nominated for the event industry’s highest award
April 2018, Dubai, UAE - The Middle East Special Event and Exhibition Awards function that will take place on the evening of 23 April at Joharah Ballroom, Madinat Jumeirah in Dubai, has already broken new ground by nominating the first person from the Middle East for the prestigious ‘Industry Icon’ award. Mohammed Tayem, founder and managing director of entourage, the region’s leading marketing and events agency is among the nominated for the most sought-after recognition at the awards function. The Middle East Special Event and Exhibition Awards is the largest gathering and most important date on the annual calendar of the industry professionals in the region, and brings together the leading talents, ideas and visionaries shaping the industry. The ‘Industry Icon’ recognises a leader in the Middle East events and activation industry who has reached outstanding achievements and contributed greatly to the growth of the industry, success of the business and the events they worked for. Past winners have been celebrated for their lifetime’s contribution to raising industry standards of excellence, innovation and best practices. Mohammed Tayem has already led entourage to becoming the first
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marketing and events agency in the top twenty of Dubai SME100, an index for top performing businesses in the region’s commercial hub, managed and administered by Dubai Economic Department – Government of Dubai. The agency has been recognised at Middle East Event Awards over the years, in addition to many other international and regional awards. Mohammed has represented several prestigious organisations as a board member, including, the International Life Events Association – Middle East chapter and Young Arab Leaders UAE chapter as an executive member. Entourage stages some of the most important events in the region, partnering with the leading entities in government and global brands. Current portfolio includes: Google MENA event calendar including YouTube activations, World Government Summit in support of the Prime Minister’s Office of the UAE and events calendar support for Crown Prince Mohammed bin Salman bin Abdulaziz Foundation (MiSK) in Saudi Arabia.
is ranked number one according to DubaiSME100 index for business performance. The multifunctional marketing consultants of entourage collaborate with a wide range of leaders across industry sectors, government entities and CSR campaigns to deliver effective solutions, and have been recognized frequently by the marketing and communication community, from Middle East Event Awards to Middle East PR Awards to MENA effie, Dubai Lynx and internationally at Euro EACA Care awards. The agency’s reputation across the region is built on longstanding partnerships with Google, Discovery Networks International, Prime Minister’s Office, Mohammed bin Rashid Al Maktoum Knowledge Foundation, International Humanitarian City and many more brands and entities.
About entourage marketing & events Established in 2008, entourage has quickly grown into one of the leading live communication agencies in the region activating the most talked about campaigns. Take the landmark Egypt Tourism campaign “Wahashtoona” and “Misr Orayba” for example that helped Egypt leap back into the tourism landscape. The agency
Mohammed Tayem
Founder & Managing Director of Entourage
SECURITY
Cyber Security Advice from Robert Harjavec
S
ecurity has always been a threat to entrepreneurs everywhere. The technological world has evolved at a pace that has changed the way we do business, but interestingly the cyber-crime
world did not lag behind. It has also risen with advanced ways of posing a threat to everything online. It has become a serious need for entrepreneurs to look for solutions to this problem. Given this scenario in the business world Robert Herjavec the CEO and founder of Herjavec Group which is an internationally recognised firm has given out an advice on how to make a business secure. Starting from Government Hacks to state sponsored ransomware and corporate cover-ups the business world has
Innovation & Tech | May 2018
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SECURITY faced it all. But many entrepreneurs do not seem to understand the importance to take action against it. The advice on cybersecurity throws light on the issue and helps entrepreneurs understand the importance to react. The business world is brimming with people who have been there and done that. Entrepreneurs who want to safeguard their businesses from hacks must always keep a watch on what these leaders in business have to say. They come not only with the best advice but with information that can help a business secure themselves in a better way. Let us take a look at Herjavec’s advice on the different dimensions of cyber security.
1. New Currency Bring with it New Vulnerability: People has the assumption that the whole task of maintaining cyber security is so complex that businesses cannot really think of being completely secure. But a close look at the larger picture would reveal that all cybercrimes always follow a similar pattern.
What Robert Herjavec says? “We’re still seeing ransomware and malware exploit unpatched networks. Cryptocurrency ‘mining bots’ are the new thing, and we’re seeing that expressed with web-server compromise, browser hijacking and even web ads that are co-opting your-processor-tomine (cryptocurrency) coins. We are also seeing a resurgence in banking Trojans. Everyone should be using two-factor authentication wherever possible and using unique and frequently changing passwords everywhere else. We can expect phishing attacks to become more sophisticated as well.” Looking at the problem from this perspective brings us to break all organizational vulnerabilities into a few key challenges. Entrepreneurs need to find out the recurring and all the common points of failure that a company faces. Every organisation has certain data that are crucial for
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the organisation. If one looks closer one can see that the same weak points exist in all. All one needs to do is make sure the points of possible data breach are kept secure.
2. Information Storage: No organisation can do without information storage. But keeping this data safe is not easy. The famous Uber leak case in 2016 is known to all when Uber leaked data from 57 million users and drivers and hackers discovered that Uber had published their private access keys on Github. This led to cyber criminals to be able to reach Uber’s Amazon Web Services-based data stores. Uber had to pay the hackers a price of $100,000 to keep the leak from reaching out people.
What Robert Herjavec says? Businesses must strongly limit access to cloud storage outside their corporate network. It is also important to train employees on the basics of cyber hygiene. “Also, it’s important to have a schedule for inventory analysis across the corporation network — knowing what devices are connected, who is using a personal device versus corporate device, etc. Understanding what the endpoints are at play will ensure that you understand the scope of the risk and what you have control over.”
3. Hire an Expert: The main reason why entrepreneurs find it so difficult to keep all together is because they do not have the necessary expertise. It is important that entrepreneurs do not try to run the show by themselves but get the necessary help. The trained professionals can create the architecture for data and bring in place proper data governance procedures. This helps a company to place accountability in one place and keeps data from leaking through the gaps. Having a trained team on board also help to
create a sense of data awareness. Entrepreneurs must look for an expert or a team that has a proven track record. It is important to figure out if your business would benefit by hiring in-house staff or by contracting with a firm that has the necessary expertise. Choose the one that suits your company needs. It is important that as a company evolves, one also changes what needs to change accordingly. Sometimes an in-house team might seem great while in other times a firm might be the perfect match.
What Robert Herjavec says? “I always advocate for doing what you do best and trusting experts to support you in your areas where you are not as strong. In most cases, you’re running a business — not ensuring security. So you’ll need to balance some investment in technology with some basic principles in policy to get started. You don’t need to outsource your entire infrastructure right off the bat, but I recommend getting feedback from an expert and evaluating outsourced IT solutions to alleviate the pressure and risk. Your job as a business owner is ensuring that security is top of mind, that you make your team aware of the risks and that you’re controlling the cyber hygiene policies within your scope of responsibility.” Entrepreneurs must look at securing their businesses. It does not take a lot to do so. All one needs to do is a little research and implementation. This would help people to save up a lot of money that one might lose by being careless and having the need to clean up. The first step is to get professional with the problem. You cannot just wish it away. The solution lies in looking at the problem, accepting that there is a problem and then following the experts in the field and following their advice. Keep yourself informed and keep your business safe.
SPI Group Think Tank
REAL ESTATE & TECHNOLOGY
Real Estate Seen through Lenses of Disruption R
eal Estate has always been considered the safest asset. Especially in regions that is asset based, these illiquid assets are valued highly. The disruptions in the business world has naturally allured the real estate industry to look up and take notice. Needless to say the Real Estate Industry also feels the need to reinvent itself so that it stays at par with the technological developments that now make our business world. There has been a lot of changes that are surely to disrupt this industry as we know
it. Entrepreneurs must keep themselves updated to the changes that are slowly shaping the new avatar of the real estate industry. It looks quite in awe with the technological revolution. Here is a look.
1. Digitalisation of the Real Estate Institutional Infrastructures: Digitization penetrated through all kinds of business. Real Estate has also started to speak the digital language. The digitization of land registries, smart contracts etc., has opened up a new dimension in the real estate world. There has emerged a decentralized and distributed real time models of value creation and pricing that was not there before.
Innovation & Tech | May 2018
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REAL ESTATE & TECHNOLOGY
It is a possibility that the future of the real estate industry might see economic departments charging license fees based not on a fixed square foot area but maybe based on the value of a tokenised real estate lease.
2. Digitalisation of the Real Estate Regulation and Compliance: The digitalisation of the Real Estate Regulation and Compliance has transformed the shifting planning policy from regulating use classes to regulating pollution contamination and impact using distributed sensors real-time planning based on impact and not use-class proxies. Thanks to this development the real estate industry can now look at transcending industrial zonal logics. It can look forward to drive planning from
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focusing on outcomes, set up compliance mechanisms at all value chains and finally change the role of regulatory authorities from regulators to enablers
3. Hybrid Models and Instruments: Hybrid financial models and instruments will change the way incentive structures for future builds. It is possible that in the future the construction finance is linked not only to project feasibilities but to how well one can build from a sustainability perspective.
4. Space Use: Technology has brought about the popularity of co-working and co-living. Entrepreneurs are now focusing on creating constructs that are shifting the model of real estate from a completely product and asset service to something that is driven
by data and outcomes and a lot of continuous optimization. This is an emerging trend in the real estate industry where space is not valued just by the utilization and efficiency but by contribution that it makes to the environment. It is possible that the real estate industry would have entrepreneurs and consumers alike valuing a construction not on the basis of how aesthetically enhanced it is but how well a construction contributes to a community and economy.
5. E-Commerce: We have already seen how the emergence of E-commerce has reduced the need for Brick and Mortar stores. However, with the advancements of AR, VR and AI it is very possible that there is an increase in real estate showrooms that can give consumers a virtual experience of the floor plan. People are looking at having an AI
REAL ESTATE & TECHNOLOGY
enhanced experience to better decide on their real estate choices. This trend would only become more sophisticated and mainstream and unlike the other stores there will be an increase of retail real estate in the future. Entrepreneurs who are eager to show their great real estate treasure must not only look at changing the way their businesses work but also look at what experiences they give out. It is great if entrepreneurs can start by bringing in the AI technology that can help them go the AR way of doing business. It is no longer a fantasy that they can decide to focus on later but something that is very important to take their real estate business forward.
6. Manufacturing and Automation: Everyone is aware of Wikihouse an organisation that is challenging the means of production of the real estate industry. It has worked to decentralise and distribute the means of production and while
making an effort to distribute innovation, creativity and care. It has now become important for people in the real estate industry to be able to respond to automation by tapping into these areas of their workforce namely – care, collaboration, and the capacity to utilize their collective intelligence. The emergence of 3D printing office and 3D printing strategies will lead to a new way of construction where entrepreneurs would have to think how the software can back the hardware and collaborate with different individuals to co-create the future of real estate.
7. Universal Policy: Technology has made it possible to think and implement erstwhile philosophies like universal basic income, equality policy etc. The emergence of something like the universal basic income would change the economic geography of the real-estate model. The equality policy would help entrepreneurs recognise the effects of the environment on social and spatial justice. Things like these and many
more like data driven environment, etc are already starting to change the way entrepreneurs think about the real estate industry. The future of real estate would be very different from what it is today.
Are you prepared to face the changes? Are you aware of what you need to change in your real estate business? It is best that you answer these questions before you find yourself talking in a business language no one understands any longer. The areas in real estate like economic geography, spatial typologies, design, business models, ownership models and governance would change a lot because of the innovations brought by the disruption in real estate. Entrepreneurs must learn to move with the changing times. It is wise for entrepreneurs to keep a track of the changes and implement them in their real estate business. This will keep their business safe and in the company of business success.
SPI Group Think Tank Innovation & Tech | May 2018
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INNOVATION
Emerging Saas Businesses to Watch Out For
S
aas has been an increasingly popular word in the business world for some time now.
What does Saas mean? Well to put it in lay man’s words, it is an abbreviation of the phrase ‘Software as a Service’. It mainly describes the delivery of a product to a consumer through a software platform. It works across both businesses and individual platforms. The user of course pays a sum of money to the software platform on a regular basis. Saas has gradually grown in popularity with the great corporations like Microsoft Office and Adobe Creative Cloud taking an initiative in investing it. Here is a look at the upcoming Saas businesses that entrepreneurs must look out for.
1. InfoScout: Infoscout has been founded by Jared Schreiber in 2011 and is based in San Francisco. Infoscout works to transform consumer data into a business solution. It has two mobile apps named Shoparoo and Receipt Hog. It helps to incentivize consumers to upload the scanned receipts from the shopping trips that they make. They use these receipts to give back to their customers by raising funds for a school of their choice or by giving those consumers cash.
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Infoscout can boast of having 3,000,000 users who upload the same number of sales receipts every day. These receipts along with the data that is collected through the company’s apps give InfoScout a great insight into the consumer behaviour.
2. Front: Front has been founded by Mathilde Collin in 2013. It is based in San Francisco. Front is a platform that offers the opportunity to have a business communication through email or messaging platforms by providing them with a shared platform. It gives the user the opportunity to create an inbox that can be shared by all the members of a team. The responsibility of replying to an email can be assigned to the appropriate team member in the team. Users of Front enjoy the benefit of making internal communications less complicated. It completely removes the need for people in business of forwarding important emails to colleagues. This Saas works with SMS, Facebook and Twitter messages so an entrepreneur can keep all the communications that has been received at one place irrespective of what platform the messages are coming in from.
3. Classy: Classy has been founded by Scott Chisolm in San Francisco in the year 2011. It is a fundraising platform that allows non-profit’s that has humble beginnings. Classy was conceptualised when in 2006, its
founder Scott Chisolm along with his few other friends decided to hold a charity to raise money for cause of cancer. He moved on to organise many more charity events and it was then that he realised that the “modern day philanthropists” do not have enough opportunity to contribute to the causes that they might believe in. This gave rise to the platform called Classy. In the following years it has helped a number of 4,000 non-profits to raise hundreds of millions of dollars through its official platform.
4. Hypr: Hypr has been founded by Gil Eyal in New York in the year 2013. Gil Eyal has been an influencer in the world of influencer marketing. He worked as the COO with the photo-sharing app Mobli and Eyal and had also worked closely with celebrities like Leonardo DiCaprio and Serena Williams. He worked as an Influencer when the concept was still referred to something like “celebrity endorsements.” During his involvement with this work Hypr was conceptualised. It is now a platform that provides clients with an analysis and important details of influencers’ audience behaviour. This in turn helps brands to partner with influencers who are best for their
INNOVATION
Saas has gradually grown in popularity with the great corporations like Microsoft Office and Adobe Creative Cloud taking an initiative in investing it.
marketing goals. This platform also comes with the opportunity to help brands to automate influencer marketing campaigns and then move on to compare the results.
5. Hireology: Hireology has been founded by Adam Robinson in Chicago, Ill in the year 2010. This can be said to be a Saas service that is based on human resources. It brings both big and small businesses together and helps to manage their teams everything from hiring to retiring. This Saas platform comes with a lot of tools that can help clients to find the best candidates for a company and it also helps a company retain talent.
6. LaunchDarkly This Saas Company has been
founded by Edith Harbaugh in Oakland, Calif. in the year 2014. The founder, Edith Harbaugh has been into software development for almost 15 years. She has had the opportunity to be exposed to something that can be said to be bad releases that resulted from companies who tried to go live with features that did not have the capacity to be on prime time. This resulted in the creation of LaunchDarkly that gives all online businesses an opportunity to first audition new features. Following this it also allows businesses to select subsets of users and then move on to limit their risk when they decide to roll out a new code. This was initially built by keeping developers in mind. It has gradually moved on to become a tool that is used across organizations for auditions and testing new features.
7. BirdEye Bird Eye has been founded by Naveen Gupta in 2012 in Palo Alto. This company works as an online reputation-management SaaS. This company encourages consumers of its clients to review the clients’ products and services. Well, this helps brands to create a social proof on the quality of products from client side. In case of a negative review BirdEye follows up by sending real-time notifications. This helps clients to take immediate action on a problem and turn a possible bad customer experience into a positive business exchange. The Saas Business is growing and it has made it possible for software start-ups to create a business strategy with the expertise that they have in software. This is a great place to look at as it offers entrepreneurs with a lot of potential for growth. Come explore the Saas world in business.
Innovation & Tech | May 2018
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DISRUPTION
Entrepreneurs can Transform Disruption to an Opportunity
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DISRUPTION
D
isruption is a word that makes the big guys in business look up and take notice. Ever since this word emerged in the business world it has been regarded as something that has a lot of potential and possibility. There has been a growing tendency of companies trying to align their business structure to the disruption that touches the business world. Any company that did not embrace the recent disruption lagged behind. Making up later is not a financially happy solution to consider. Given the strong influence that disruption, which in itself is happening at the blink of an eye every moment in the business world entrepreneurs all over are struggling to meet the change. This is not a very good news given that entrepreneurs have every reason to suffer. A report on the Wall Street Journal published last July states that a number of 20 Fortune 500 CEOs left their companies early 2017. Interestingly 12 people left the company because of an industry upheaval. This includes new technologies and rivals. People in the businessworld accept that they cannot cope up with the disruptions that seem to coax them to perform better, faster and change every working day. It is important that you do not fall in this category. The good news is that there is a way out. Entrepreneurs of today can override the tide of disruption by bringing in a culture of internal disruption in their business. There has been many companies that has done that. Companies that revived themselves in a way that even made the disruptors look up and take notice. Here’s how?
1. Go with the Change: This is one of the riskiest ways to go about that also involves a lot of capital. This is followed by the ability of a company to effectively redirect it to the perfect transformation strategy. The Redirect Approach can be best explained with the example of Macy’s which is a retail company that has gracefully not only survived
but thrived the e-commerce storm. Macy has succeeded in riding the tide of disruption because it allowed itself to change strategy and move its investment from Brick and Mortar to Digital. In January 2017, Macy’s has announced that its ongoing restructuring plan includes store closures and layoffs of around 10,000 employees would save the company a rough estimate of $550 million dollars. This Macy claimed that it would use for investment in digital strategies. The Redirect approach shows us that moving with the changing times is one thing that entrepreneurs can do to keep pace with the changing business market and avoid a burnout.
2. Be your Own Competition: The second approach is called the Self-Compete Approach. This approach has been taken by the ADP which is the industry-leading provider of payroll software. The Self Compete approach asks an entrepreneur to launch a wholly owned but separate company that acquires fresh talent in the market to face the same industry that an entrepreneur is losing business. Following this approach ADP started the company called Lifion to compete with VC-Backed entrants like ZenPayroll. Lifon with a startup mentality focused on faster innovation and delivery. It spread its offices to New York, India and California. With Lifion in the market ADP became its own competitor. This presented the company two different approaches to the human capital management.
3. Re-invent Yourself: Everyone is aware of the Major League Baseball’s decision to stop paying their third party digital service to broadcast its games. They moved on to creating its own service that stream the games directly to the consumers. They named themselves BAMTech.
Why did MLB do that? The digitalisation of the business world, opened up as a source of
new digital revenue for them. They decided against investing separately on this new possibility and focused on making money with the main business running the show for them. MLB went to make success with BAMTech. Investors like Disney also showed their interest to the company. BAMTech has a value of $3.75 billion where Disney owns a 75% stake. It has also been referred to as ‘the biggest media company you have never heard of’ by a leading business magazine. BAMTech interestingly powers HBO Now, the NHL and the WWE Network. The innovation and change in the business world is making it a very difficult place to thrive in. While there are some who make it sound doing business like a piece of cake, there are those who are still struggling with the innovations and disruptions that seem to ruffle their business feathers the moment they seem that they have settled things. The only difference with those who are doing well keeping aside financial or resource constraints is that they are stuck to the old way of doing things. Entrepreneurs now need to understand that maybe the old ways worked, but there is no reason to stick to the old ways only. There are different ways of doing things. Innovation and disrupting oneself would never harm a business if done the proper way. Entrepreneurs must learn to reinvent themselves. Create the disruption in their business that would let them thrive. Wanting the business world to align to your business structure is wishful thinking you might say. But there have been people who have done that. Look at the way the business world runs now. It no longer runs the old way. But it does run the way a few entrepreneurs who dared to innovate, change and reinvent something that they thought needed to change. You need not be one of those entrepreneurs who decided to leave their company because they were unable to face the disruptions in the business world. Look around your business. Look for a solution that can help you be the new disruption that the world would love to follow. You need not always be the one who adjusts your business to the changes in the business world. You can also choose to lead like those who have led business before you.
SPI Group Think Tank Innovation & Tech | May 2018
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IOT
Empathy is Key to Human Bot Relation
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he human element in Artificial Intelligence has always been a hot topic among the leaders in business and technology. There have been those times when AI put off customers because they are not human enough. At other times the human element in AI has been seen as a threat to humanity itself and a target that is too high to achieve.
Why AI Requires the Human Element?
- How human like should AI actually be?
The Chatbots in customer care had been the first experience of humans with AI. They had been often criticised for the fact that they could not perform the basic tasks at hand that they were asked to do. For those who were unaware of the AI behind chatbots these interactions came as real heartless customer care service. Bots were rightfully criticised for having a lack of empathy. Customers naturally expect that when they are talking to customer care service about their problems that it would express some empathy. They naturally want to feel understood about their problems. It is quite natural that machines cannot express empathy the way humans can.
- Where should we draw the line between technology and humans?
This experience has brought to light the fact that AI needs to be more empathetic towards human feelings during an exchange.
It is a fact that the AI and robotics will continue to grow sophisticated with every advancement in technology. The business world and the world at large seem to be happy about this progress but the question still remains
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The world of technological discussions is abuzz with probabilities that point either at a more inclusive view by bringing in concepts of robot citizenship or on a more speculative note about a world controlled completely by AI.
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Every entrepreneur is jumping the AI bandwagon when it comes to interacting with customers. This growing trend is supposed to make business seem like a piece of cake but it has not helped much with growing customer dissatisfaction. While the dissatisfaction grows AI has already penetrated into the business world with almost all the consumers owning a smart speaker, etc. There has been a dissatisfaction growth that has really made the early popularity of the AI in business shake. Interestingly consumers have now started to accept the tone deaf feature of AI. The advanced and modified solutions of AI has come but it has not been able to solve this issue. The human and chatbot relation is on the rise where humans assume that it is okay to bear with the emotionless response to a question that by all morals and etiquette deserve to have some human reaction to it.
The question that arises now is ‘How will this insensitive response affect the future generations?
IOT
Are we going to set the trend for a future of completely etiquette-less people who seem to be okay with the wrong tone of conversation? How would it affect us? The chatbots clearly do not know how to respond to cases of harassment, rude behaviour etc. An automated response to serious issues like this topped with the lack of sensitive response clearly is a concern. The fact that there are many robots that would find itself amongst humans like Sophia raises this concern manifold. It is very possible that AI can very easily make the society completely insensitive and nonhuman. This probability is no longer a debate or discussion that can be carried on with the assumption that a society like this is in a far distant future. People have already started accepting the tone-deaf features of bots for convenience. The future can only become colder unless of course decision makers and leaders take a responsibility to come up with bots that understands empathy. Empathy like everything is a skill and as far as bots are concerned if they can learn hate speech of course they can develop the softer side of empathy too.
Entrepreneurs who are Eager to Make AI a Part of Their business must Train AI on Empathy It is important that entrepreneurs train the AI that they wish to work with in Empathy. The things in a conversation like tone of voice, words that express sentiments and an observation as to how humans would react to an interaction can be included in part of the training. It is very important that bots understand whether the conversation is happy, angry, frustrated and how to lead it from there. Customer care services are something that people resort to to calm their nerves. If AI does not know how to do it, it does not make sense why it is there in the first place. The success of AI in business depends a lot on how it makes the consumer feel. It is very important that training AI includes the teaching of subjective sentiments from a conversation with humans to being able to decipher how exactly to react to them. If there is a customer who needs to be heard AI should give that customer exactly
that. A response that makes him/her feel heard enough. AI must recognize emotion and empathy to be able to learn how emotion affects human behaviour, their needs and desired responses. The business world no matter how technologically advanced will remain a place of human interaction. There are not many people who would be interacting with the likes of Sophia but there will be a large number of people who would interact with the Alexa’s and Siri’s. This number will grow in the future. Entrepreneurs must take care that they do not only jump in the AI bandwagon but also make sure that the AI they choose to implement in their business is well equipped to respond to a human. There are already those entrepreneurs who have started to work with this thought. Businessmen who chose not to upgrade would have only a strong competition to face. It is time for businesses to start to teach AI to behave in a way that makes a humanbot exchange successful.
SPI Group Think Tank
Innovation & Tech | May 2018
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AI & BUSINESS
Use your Business to Make a Difference
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he world we know and love is staggering by a high amount of pollution and global warming effects. NASA has recently discovered that earth is experiencing the highest levels of carbon di oxide emission in 4 million years. This piece of information must actually make all sensible people leap to action but it seems this is not news enough. The newspapers and media are abound with news of our Earth’s suffering only to be met with people flipping the page and discarding it as just another news. The point is we have reached a state when we can delay fixing the problem no longer. Who can make a change the question arises. Well, everyone who is willing to start with. But more so, the entrepreneurs through their businesses. It is old news that promoting sustainability is not only a humanitarian move but it also helps a company to make profits. The research by asset manager company Blackrock revealed in 2015 that the companies that fought strongly against cutting carbon intensity beat the global stock market by a 6 percent.
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The business world gives a lot to entrepreneurs to choose from. But the most important thing it gives is the possibility to make a difference while still making profits. Thanks to technological advancements there has been a great innovation in the sustainability industry that entrepreneurs can explore to save the planet. Here is a look at the most powerful sectors that entrepreneurs can explore to make their business a means to make the planet happy.
1. Autonomous Driving: Autonomous Driving has been the talk of the business world. There has been a great discussion on exploring and investing in this possibility. Apart from all the good that autonomous driving can bring in to a company it also makes the world a little safe. According to the Scientific American autonomous vehicles can help to slow pollution that would lead it to slow the climate change. The Former U.S. Secretary of Transportation Anthony Foxx said in 2016 that “We are on the cusp of a new era in automotive technology with enormous potential to save lives, reduce greenhouse gas emissions and transform mobility for the American people,”
Entrepreneurs must look at investing in autonomous driving and try to make their business a means to protect the environment.
2. Health: The relation between good health and a clean environment has been talked about for ages. The better we take care of ourselves the better the world is. Kaiser Permanente is a healthcare organisation that aims at instilling environmental stewardship. The Vice President of Kaiser Permanente said that “We understand the clear connection between a healthy environment and the health of individuals. Preventing environmental causes of illness is the main objective of our sustainability program. We also recognize that the health care industry’s impact on pollution and waste is substantial, and we want to be proactive in combatting it.” It is natural to see that the healthcare industry is doing its part by using renewable energy, buying efficient products and taking in to home grown products.
How does this help? - Using renewable energy helps to lower global warming emissions
AI & BUSINESS - The use of efficient equipment helps to lower the hazardous waste disposal - Consuming home grown foods helps to lower pesticide consumption. It also helps to keep workers away from the effects of pesticides in the fields.
How can Entrepreneurs help? Entrepreneurs in the healthcare industry can resort to these practices. Starting from manufacturers to suppliers of the health care industry, everyone can resort to these practices and make a change that makes the earth happy. There is a huge change that connects everything in the business world and a change in say the suppliers will naturally bring about a change in the manufacturers and the cycle goes on.
3. Agriculture: The United Nations’ Food and Agriculture Organisation says that investing in agriculture can reduce the effects of climate change. The deputy director of FAO has said inn 2016 that,
“Agriculture can play a crucial role in making the response to climate change responsible and more effective.” Entrepreneurs who are thinking how their business can invest in business can learn from the examples set by Bill and Melinda Gates. The Bill and Melinda Gates Foundation is one of the largest advocates of agricultural research and development. They are also the number one funder of the genetic engineering research.
The Way Ahead Entrepreneurs can start looking at the new ways that they can invest in. There are a lot of leaders that one can look up to who can show entrepreneurs how to invest in the planet and make a profit. One small change can help an entrepreneur help the earth recover. Something as small as printing less to recycling seems like a great start while you sit in office and think how you can go about contributing to the environment.
Entrepreneurs who can make a difference must try to do something. They can easily lead the way for the future generations to follow. Protecting the environment is no longer the other’s responsibility. It is a responsibility that everyone should take up. Entrepreneurs who are looked up to can set an example by starting a trend that works to help the world. The fact that someone as busy as Bill Gates can do it is proof that so can you find time to work for it. The business world is full of opportunities that can help you become a businessman who has a heart to save the planet. All you need to do is look out for it. This trend is going to rise. The millennials are very aware of the issues that the world faces and they are increasingly looking up to businesses that work respecting the environment. The future would belong to businesses who cares about the environment. For those who do not would naturally find themselves go out of popularity. The future of business is changing. You must implement this change to thrive in the future of business.
SPI Group Think Tank
Innovation & Tech | May 2018
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TECHNOLOGY RESEARCH
Mozilla Researchers Reveal Unknown Facts About Internet
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eople in business has been using the internet like something very familiar. But there is much more to the internet than simple familiarity. The recent Cambridge Analytica Breach and the revelations of a security threat by a trusted company has made this familiarity with the internet a little shaky. Entrepreneurs have a lot to watch out for because their hard work and future dreams stay on the internet now like never
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before. There is always a digital face to everything and this makes everything seem so vulnerable at a time when the business world is rocked with news of Cambridge Analytica and the like. The researchers at Mozilla, one of the largest company that is famed to make the open source web browser Firefox has come up with a report that has the Internet Health Report in it. The study is elaborate and discusses on the basic features of the website namely security, openness, web literacy and decentralization and digital inclusion. The research mainly explores the overall well-being of the internet.
The researchers said on the subject that “There are some straightforward indicators to watch. Things are getting a bit better in areas like: access, affordability and encryption. And they are getting worse in: censorship, online harassment and energy use. Simple indicators miss the complexity that comes with global ecosystems like the internet.� The topic of the recent Cambridge Analytica has also been taken up. The Executive Director of Mozilla Mark Surman said in a conversation with PCMag said that the situation is not very feasible for the social media giant. To quote him
TECHNOLOGY RESEARCH research by Mozilla says about internet. Keeping themselves upto-date would naturally keep their businesses thriving.
Switzerland, Slovenia, Croatia, Austria, Hungary, Slovakia and the Czech Republic.
Here is a look at what Mozilla has to say about the Internet.
The researchers at Mozilla held a study where they conducted with the help of screen time tracking app ‘Moment’ and the ‘Center for Humane Technology’ about the apps that has the potential to affect people’s moods to the maximum. The research found out that the apps that made most people happy were Sonos, Audible, Headspace and Sleep Cycle. As opposed to popular beliefs, the apps that made people unhappy were Facebook, Instagram, Telegram and Reddit.
1. Google is loved by the Majority: The research by Mozilla researchers revealed that Chrome has a 64.7 percent of the whole desktop web browser market share and an interestingly high 47.8 percent of the mobile web browser market share. It is quite natural to expect that almost everyone in the world prefers using Google. The researchers confirmed that a 95 percent of mobile users love to tune to Google while another 87.1 percent of desktop users almost look up everything at Google.
2. Internet to Rise Carbon Emissions Massively: Yes, you have heard it right! The internet has the potential to increase the Carbon emissions. They have said that by 2025, most tech companies in the world will have created more carbon emissions than most of the countries in the world, except China, India and the United States.
3. The Status of Net Neutrality Abroad:
he said, “Cambridge Analytics took all that data, put it in a database, and connected it to a bunch of other data sets. Then they sold that off as a way to target advertising. It is not so much a data leak so much as it is a nuclear waste spill.” Entrepreneurs today have crossed the geographical thresholds and carry out business globally. Everything that they do is saved on the internet starting from data to financials to business plans. It is important that these entrepreneurs know and understand what this
Net Neutrality has been a very important discussion in the business world. It has the potential to make or break a business and it is important that entrepreneurs understand what the report has to say about net neutrality. It is old news that the U.S. recently repealed net neutrality protections. Protections that were earlier put in place in 2015. However there are many countries that do not have net neutrality protections. These countries are Canada, Mexico, Colombia, Ecuador, Peru, Chile, Argentina, Paraguay, Brazil, Japan, South Korea, India, Norway, Sweden, Finland, Iceland, Estonia, Latvia, Lithuania, The U.K., Ireland, Tunisia, Spain, Italy, Portugal, France, Turkey, Greece, Romania, Bulgaria, Poland, Germany, Denmark, the Netherlands,
4. The Status of Happiness Online:
5. Safety and privacy as Mozilla Found Out: The research found out that Eightyone percent of the most visited sites on the internet uses HTTPS. HTTPS as we all know features encryption. Interestingly the research pointed out that the biggest tech companies are not very serious when it comes to their company privacy policies. The same applies for how they handle user data. It might come as a shocker but Google has topped the list and managed to get a 65 percent from the Ranking Digital Rights’ Corporate Accountability Index.
6. Who Stays Connected? The research at Mozilla found that there is a huge difference in numbers when it comes to the question as to who has the highest access to the internet. Interestingly it was found out that about an eighty percent of people in the Europe have a great internet access. This contrasts with the fact that only 20 percent of people in Africa have an internet connection. The research however maintained that in every country in the world except the United States, the number of women online are lesser than the men. This research throws light on some of the most interesting facts about the internet. Entrepreneurs who are eager to explore more into the subject must go to the official page of the research. This would surely open up many details to the entrepreneur. The internet has taken over our lives completely given that humans now depend for every minute little thing on the internet. Researches like the one by Mozilla helps to keep people stay updated on the technology they believe they know well.
SPI Group Think Tank
Innovation & Tech | May 2018
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LEADERSHIP
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LEADERSHIP
The importance of thought-leadership in brand development
K
nowledge is the cornerstone of any firm – whether in financial analysis, HR, business development and growth, talent acquisition or technology – and it’s that niche influence and expertise derived from the knowledge that the business model is built on. Thought leadership across any business involves a thorough understanding of industry best practices and is ideally already part of a strategic business model. The fresh, insightful perspective to a common issue or an emerging trend is an essential attribute of a thoughtleader. That’s why thought leadership is a critical piece of the communications and marketing strategy for many firms and yet often remains so mysteriously absent in the mix of small-tomedium size firms. The building of credibility often involves more than just one aspect of personal branding. As with any successful campaign, thought leadership status cannot be achieved in a day and takes time, patience and hard work. Today’s successful thoughtleaders understand that an efficient system is necessary to run effective campaigns. Most thought leaders are change agents, who speak authoritatively about a cause
they care about. They engage with stakeholders and followers so that together they can bring long-term sustainable change. Every industry is evolving — some faster than others — and as a thought leader, you'll need to stay on top of what's happening, so you can share and comment on trends. There are three distinct levels of visible thought leadership, and each level has increasing and measurable levels of influence and impact:
The Resident Experts/Local heroes - Are individuals recognised in their local market or small industry niche; these individuals are well known in their organisation and across the boundaries of their own firms
The Rising Stars -Are influential individuals recognised in their own industries, who draw up opportunities to their firm. They are often quoted in the press and are sought out as keynote speakers for a majority of industry events
firm or professional service they are associated with. These include the ability to drive firm growth by attracting clientele who want or need the industry experience, resulting in a more qualified generation of leads, with less effort and greater success. Thought leadership can elevate a brand, establish authority in the industry, ward off damage caused by negative customer reviews and drive in sales. Successful thought leadership across a business can also directly influence the billing rate that the expert is able to charge, which is often higher than the nominal one. A firm builds credibility to its brand when thought leadership is one of their primary marketing strategies. Moreover, in a time when top talent is in high demand, thought leadership is a potential recruiting tool, as it demonstrates the quality of a firm, who in turn attracts employees as thought leaders.
The Global Superstars - Are recognised for their experience and have built a solid reputation that goes beyond their niche and industry. Their influence extends across many sectors and in some cases to the general public. By having a sound reputation in the industry, thought leaders can bring in several benefits to the
Anastasiya Golovatenko
PR Director, Sherpa Communications
Innovation & Tech | May 2018
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BLOCKCHAIN TECHNOLOGY
Blockchain Technology: A Look at it from a Business Perspective 46
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BLOCKCHAIN TECHNOLOGY
Many misunderstand blockchain and confuse it with another technology that underpins it: cryptocurrency
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nformation technology is shifting away from separate storage of data within siloed systems where companies hoard information, to a paradigm of distributed systems where parties have access to data which is stored across a network. This phenomenon is called blockchain. Blockchain is a way to decentralise data storage so that information can be stored chronologically across a network, allowing for a single source of truth that cannot be manipulated by a single party. This also brings about the benefit of disintermediation since we no longer need third parties such as banks which coordinate and authorise transactions. Many misunderstand blockchain and confuse it with another technology that underpins it: cryptocurrency. Cryptocurrency has gained a negative image throughout the world and this is maligning the concept of blockchain and the benefits that it can bring. One should note that all the benefits of blockchain are contained within the technology of cryptocurrency: provenance, security, privacy, finality, transparency, incorruptibility. It is precisely because of these benefits that organisations are looking into how they can integrate blockchainbased technology into their working processes. Much like the internet, with blockchain data is distributed across a network of nodes (i.e. computers), whilst it also gives permissioned access to information, stored and updated autonomously on a decentralised ledger. This
ledger can hold anything of value: financial transactions, titles of ownership, attestations, identities and more. The fact that the ledger is distributed and decentralized means that no single entity exercises complete control over it. This is of great use in environments where there is a lack of trust. Moreover, there is a common misconception that the technology stores documents which containing information, but it holds data about certain events. Authentication and accounting of documents is caused by needing to record and affix the taking place of events. In fact, document exchange is one of the core concerns for the state, as it is for any organization. For many fragmented events to come together under the umbrella single system, papers are needed: a myriad papers; but also millions of people which interact with and inspect them. However, with blockchain, we can go paperless, logging and recording only specific events that are verified by individuals given the authority to do so. If we compare blockchain with standard databases, the most obvious advantage is the level of protection against falsification of information. This means that data about citizens, property, companies, certifications, etc. is practically impossible to tamper with after it has been entered onto a blockchain registry: it is immutable. The most important consequence of such a level of security is the ability to use the data as legal documents: the legal value and authority of an entry in a blockchain registry is more than any stamped and signed physical piece of paper. Moreover, it is accessible with an internet connection from anywhere and at any time. The second advantage of blockchain is the opportunity to
apply smart contracts to automate data operations. If a blockchain registry contains entries which carry legal authority, for example, about property rights, then a property transfer would entail an entry in the registry about the new owner which can be left to a smart contract. If the contract’s code is saved into the blockchain, it cannot later be altered without authorisation, at the same time this ensures the coherence of the contract’s algorithm execution. Furthermore, we should note that regulatory documents and policies for the most part basically describe the algorithms for interacting with registry data. Therefore, it is possible to formulate policies in the programming language of smart contracts and also place it on the blockchain where they will having acquired the status of smart contracts - automatically execute themselves. Blockchain is disrupting not only the way information is currently stored, but also how it is stored. The technology increases efficiency via disintermediation: saving time, reducing costs, increasing trust and enhancing privacy, in addition to security via eliminating vulnerable centralised points of attack. The information economy is becoming more decentralised: we should embrace this change to make processes- both business and societal - transparent and open.
Muhammed Arafath Executive Director, Apla
Innovation & Tech | May 2018
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RARE & FABULOUS
WATCHES YACHTS DESIGNER JEWELLERY BOUTIQUE REAL ESTATE GADGETS EXOTIC DESTINATIONS FINE DINING
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RARE & FABULOUS
Vuzix Blade Augmented Reality Glasses
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onsidering Alexa has made its way into just about every Internet-connected product, it was only a matter of time before the digital butler arrived in smart glasses. The Vuzix Blade augmented reality glasses will support Alexa so that wearers can ask for things like the weather and directions. The Vuzix Blade’s display also sits more prominently in the wearer’s field of view than Google Glass and looks much more crisp and colorful. If developers create compelling apps that blend Alexa’s capabilities and augmented reality, the Blade AR glasses could have some promising potential.
Innovation & Tech | May 2018
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RARE & FABULOUS
Fitness First: Fitbit Ionic
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t a glance, the Ionic looks like a cross between the Apple Watch Series 3 and the Fitbit Blaze, thanks to a rectangular touch LCD that stands out from many of the circular smartwatches on the market. The screen measures 1.2 by 0.85 inches (HW), about 1.5 inches diagonally, and features a resolution of 348 by 250 pixels. It's surrounded by a bezel, thicker at the bottom than at the sides or top, which gives the face a square form factor. While the bezel isn't the most attractive design element, the screen itself really pops with rich colors, sharp image quality, and 1,000cd/m2 of brightness. That's due in part to a curved, spherical glass lens.
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RARE & FABULOUS
Apple's Homepod Aims To Revolutionize Smart Speakers
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he Homepod is Apple's latest attempt at changing the way we listen to music forever. These voice-controlled smart speakers are the first to be fully integrated with Siri and Apple Music. The speaker hardware itself is cutting edge and uses special sensors to visualize the room it's in and adapt it's settings to emit the best acoustic experience possible. In addition to being a music station, the Homepod is also designed to be an artificial assistant that can answer questions, make schedules, and control other devices in your house.
Innovation & Tech | May 2018
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EDITORIAL THINKTANK Akshay Lamba CIO, Deloitte, Middle East Akshay is an industry leader in the technology arena and has been associated with innovative projects such as large IT outsourcing deal across multiple industries, extending enterprise data to mobile platforms and information security paradigms in a web 3.0 world. He is an alumnus of Harvard Business School, Boston and a revered speaker, invited to a number of international platforms, widely acknowledged as a next-gen technology expert. His forte has been in the build-up of innovative business models, with a focus on creating sustainable competitive business advantage. He is well known for leveraging strategic partnerships for both— in-house services delivery and joint go-to-market constructs.
Anthony Sayers
Internet of Things, Business Developer & Strategist at Dell A leading technologist with over 25 years of industry experience, Anthony Sayers is the 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. Anthony regularly represents Dell at industry forums as well as speaking and writing about the future of emerging technologies.
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 five 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.
Jean-Luc Scherer Founder, Innoopolis Telecommunications veteran with more than 18 years experience in the Mobile Industry, Jean-Luc Scherer’s expertise crosses multiple domains going from Mobile Application Development, to Social Media, Big Data, 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 & start-up mentor, Jean-Luc can help startups from the initial concept development phase all the way to successful market introduction.
Kazi Monirul Kabir
CIO, Spider Digital Innovations Kazi Monirul is a powerful, passionate, entrepreneurial, innovative and objective-driven leader with global perspective and strong empathy for emerging market realities. He posseses extensive Marketing, Communication, Innovation, Strategic Design and Business Development experience across Internet, telecom and consumer goods industries. Monirul comes with a successful track record of excelling across global enterprise, multinational, social enterprise and start-up environments. He is a great believer in the transformative power of Strategic Innovation in driving the growth and development of emerging countries and has chosen the digital realm as his current playground.
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EDITORIAL THINKTANK Nadine Bitar
CEO, Placemaking.me Nadine Bitar is the CEO of Placemaking.me focusing on innovation in design for sustainability and Place sourcing – a social enterprise to design for liveability in the MENA region. She has led and participated in the design development of more than 30 large scale flagship projects including leisure and entertainment clusters, commercial complex, mixed use developments, golf and residential communities, hospitality projects and branded destinations in the Middle East and North Africa. She is active in Dubai community as the chairwoman of the Advisory Board– Interior design at the American University in Dubai, an Executive Council Member of Ellevate International and is an International Associate in the American Institute of Architects.
Roberto Ordonez
Managing Partner, AlunaCatalyst ME Roberto Ordonez, Managing Partner, Aluna Catalyst ME, is an influencer and change agent with over 20 years of industry experience in the energy sector (BP, Hess Corporation, and Occidental Petroleum). He has broad multidisciplinary expertise and has held senior management positions across the areas of Operations, Finance, Strategy, Planning, Business Development, Change Management, and Procurement. He is a Board Member of the Kellogg GCC Alumni Association, and member of Kellogg Innovation Network (KIN). Roberto has a BS and an MS in Petroleum Engineering from Texas A&M University and an MBA from Kellogg School of Management at Northwestern University.
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 the overall responsibility for research, including large-scale, collaborative research programs and centers, research development, sponsored programs, technology transfer, and research laboratories. He serves as an advisor to the UAE Research Program for Rain Enhancement Science and is a Zayed Future Energy Prize Selection Committee member. He is the 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.
Sulaiman Al Maazmi
Vice President, Information Communication Technology, Expo 2020 Dubai Sulaiman’s role at Expo 2020 Dubai is to align business requirements with various stakeholders, support departments in order to streamline their processes when dealing with technology solutions as well as sourcing IT solutions based on current and future needs of internal and external stakeholders. Sulaiman has considerable experience in managing critical information technology projects in the Arab Gulf region, with positions in the Dubai office of the UAE Prime Minister, Thuraya Satellite Telecommunication and the Dubai Municipality, where he began his career.
Prof. Dr.rer.nat. Leo Brech
Professor at the University of St. Gallen,Switzerland Prof. Dr.rer.nat. Leo Brecht is Executive Director of the Institute for process and technology management of the faculty of economics and mathematics at the University of Ulm, Germany and Adjunct Professor at the University of St. Gallen, Switzerland. His work focuses on innovation and technology management to improve company performance. He is founder of several companies and currently acts as chairman of ALPORA. ALPORA is an investment research company headquartered in Switzerland. ALPORA invests in most innovative companies and develops unique products how to invest in innovation.
Innovation & Tech | May 2018
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