Dubai is world’s 5th fastest growing city economy

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I love Dubai. I have been living here since 2008, working as an independent consultant in telecommunications and mobile apps and in its booming ‘smart’ real estate sector, and I have been privileged to witness the growth in this city over the last decade.

Trade and tourism boost Dubai’s fortunes

Both trade and tourism have pushed Dubai into the enviable position of being one of the top five fastest growing cities in the world, according to a report by the Brookings Institute, which surveys metropolitan economies. Its stats show just how far Dubai has come in the last five years. For example, in 2013, Dubai ranked 13th in Brookings’ world city survey and in 2012 it was ranked at 167 out of 300. In 2010 it was placed at 149 out of 150 cities. Now it’s in the top five. Abu Dhabi, the capital of the United Arab Emirates is nowhere near Dubai’s ranking, partly because its GDP relies on oil prices, which have fluctuated in recent years to Abu Dhabi’s detriment, whereas Dubai’s GDP has the international trade and tourism sectors to boost its growth. Small wonder that Abu Dhabi is working on positioning itself as more of a cultural hub, with the opening of international art galleries, as a way of diversifying its economy.

Dubai has succeeded through ambition. It has ski slopes in the desert, an aquarium in a shopping mall, which also happens to be one of the most spectacular shopping malls in the world. It has an incredible selection of five-star hotels and its commercial and residential real estate has grown like daisies. Like Abu Dhabi, Dubai does sit on oil, but its rulers recognised that relying on oil would not deliver a sustainable income to the city-state; hence it wisely diversified into real estate and tourism.

It developed Emirates airline, which is one of the biggest in the world.

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In 2014, Sheik Mohammed bin Rashid Al Maktoum endorsed a $32 billion investment in developing a new mega-travel hub at Al Maktoum airport, which isn’t yet completed, but when it is finished, it will accommodate 200 million people

This is likely to make it a ‘crossroads’ for international travellers, and further boost Dubai’s position as major travel hub and as a result, its services sector will benefit from even higher numbers of visitors.

Dubai as an investment location

Dubai has low logistical and operational costs and an excellent infrastructure. It also has and international outlook and its more liberal government policies are attracting investors. Activities such as trade, transport, tourism, industry and finance have shown steady growth and helped the economy to achieve a high degree of expansion and diversification.

I can also tell you that it has a number of other advantages including cost, market and environmental advantages that create an ideal and attractive investment climate for both local and expatriate businesses. These things combined, place it at the forefront of the world’s dynamic, emerging economies. And, it is a time zone bridge between the Far East and Europe and a bridge to Africa for trade from the Commonwealth of Independent States (CIS) that include Russia, Ukraine and all the ‘Stans’.

International companies setting up in Dubai are provided with competitive cost structures that are unavailable elsewhere and it offers a high quality of life to their employees. Dubai has come a long way in the last decade and whilst it has a bold vision for the future, it will handle it in a sustainable way that firmly establishes it as a meeting point for world trade, as well as a fantastic place to enjoy a luxurious holiday.

 

 

 

 

 

 

 

 

 

Canada – a leader in innovative technology

I was fortunate to move to Canada in the 1980s and be educated there. It’s a country of extraordinary beauty and diverse cultures. The Canadian Rockies are breathtaking and Whistler, its prime ski resort, is a match for any in the world. It’s a fantastic place for a family vacation, and you’ll find that Canadians are generally friendly, kind and welcoming to all visitors.

I’m also proud of Canada’s achievements in technology. I studied for my Bachelor’s and MBA at Prince Edward Island University and it gave me the solid foundation I needed to take me into the communications and IT industries, and my particular specialism –mobile communications – is a sector where Canada has a leading edge.

Canada and communications

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The first company I worked for was FCC Ltd. We collaborated with Bell Canada to Fix and Bring mobile traffic origination and termination consolidation.

Out of all Canadian technology innovations, the phone has had the most profound effect on the world. Scottish-born Alexander Graham Bell (1847-1922) and Nova Scotia resident, who is credited with inventing the telephone, founded the Bell Telephone Co, which today is called BCE Inc and is Canada’s largest communications company.

And, Canada is the home of Blackberry. It may be facing a lot of competition now from Apple’s iPhone, but its secure BlackBerry Messaging service remains tops in the industry, party due to the fact that BBM’s encrypted data makes it hard to trace the messages back to the owners. Plus, Blackberry has added an even more secure version of the service aimed at users in healthcare, finance and government.

Canada also brought you the IMAX. The concept started in Montreal back at Expo 67 when three artists designed an installation of an immersive movie experience. Three years later the first IMAX film appeared and soon after the IMAX theatres appeared as well.  Now, there are IMAX cinemas and films all around the world.

Investing in Canada

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The election of Donald Trump in the USA prompted an increase in business people thinking of relocating to Canada. Canada’s world profile is also much bigger than in the past, in part due to Prime Minister Justin Trudeau’s activities. Therefore, more eyes are on Canada than ever before and market analysts suggest that investing in Canadian real estate is a good move. I’d agree and suggest investors look at areas with strong population and employment growth. Brampton in Ontario for example, which has Coca Cola, Air Canada, Canon Canada are just a few of the blue chip employers relocating there or expanding existing facilities. Other cities I’d recommend looking at real estate in are Milton and Richmond Hill, and I’m sure there are many more.

Canada’s strong economy and well-educated labour are also key reasons why global companies want to establish or expand their business in Canada. We have a broad selection of industry sectors that are ripe for investment. These include digital media, wireless communications and software, areas that are of personal interest to me. Did you know that Canadian studios are responsible for developing one in every six top-selling console games? Blockbuster titles from Canada include Ubisoft’s Assassin’s Creed, EA/BioWare’s Mass Effect, EA Sports’ FIFA Soccer.

And, Canada is leading the growing international demand for wireless technologies with leading infrastructure vendors, application developers and telecom software companies based in Canada. We are also seeing cutting-edge R&D work coming out of Canada from some of the biggest names in the sector: Alcatel-Lucent, AT&T, Avaya Inc., BlinQ, Ciena, Cisco Systems, Deutsche Telekom, Ericsson, JDSU, Nokia Solutions & Networks, Samsung and Sony.

Canada may have been overshadowed for some time by its neighbour to the south, but all the signs are that Canada is poised to maximise its opportunities for investment and to continue playing a leading role in high tech innovation that will secure for it a new status in the world economy. ‘

 

 

 

I Robot? No, I Creative

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In my last blog post I wrote about Artificial Intelligence (AI) and how it is modelled on the human brain’s neural pathways. However, as the post pointed out, whilst AI algorithms can mimic our thinking to a certain extent, as yet it can’t think at the same level of complexity as us. I’m aware that while some people are excited by the potential of AI, there are others who fear that it will replace human activity in the form of robots. The good news is, robots will increasingly help us by performing specific tasks – manufacturing is an example of where robots are useful—but there is one area in which the robots will not take over, and that is in the realm of creative thinking.

Robots free up time for more human creativity

Merrill Lynch published a report a couple of years back suggesting that 47% of jobs are “at risk of replacement by robots over the next 20 years.” These jobs are mostly in manufacturing and service industries. This kind of statistic plays into the hands of those who fear robotics. But, what we should be looking at is this; these robots will take over menial tasks, freeing humans up to use their time in being more creative. The report asked: “A major question is whether this will empower humans to go further than before, or if people will just be pushed out?”

 

The positive view of the advance of robots is that there are still many areas of work where the machines simply can’t replace humans. As I mentioned earlier, they can’t think creatively and there are other skills it is unlikely that will replace, at least for the next several decades. There are certainly some professions where we are unlikely to ever see robots.

Robots can’t teach kids

For example, robots can’t replace teachers, because a robot can’t relate to a child through human experience. As Ian Pearson from the World Academy for Arts and Sciences told Business Insider:

“A human will always be able to identify with another human on an emotional level better than a robot can.”

So, if you are a teacher you can feel confident that your job is safe, at least from robots.

Robots likely to make wrongful arrests

Another workforce that is unlikely to see its members’ replaced by robots is the police. The reason for this is that policing requires the skill of making judgements about situations. A robot can’t be programmed to make a judgement about a scenario. If robots were employed in this role, it is likely that they couldn’t differentiate between action that may look criminal but aren’t and an actual crime. A human can make a judgement call about what they are observing, and approach it based on previous experience and other aspects of our knowledge.

Robots can’t motivate

Motivational leaders and management positions are similarly safe from robots. Pearson even points out that people who are leading industry or service sectors will gain advantages from the employment of robots for menial tasks: “You will spend more time with colleagues, more time in meetings, more time in emotional analysis and trying to sway people. All of these other human skills become more important as the information skills become less important.”

Robots create more jobs

And finally, if you are still worried about being replaced by a robot, here is the good news from the Merrill Lynch report: countries like Germany and South Korea that have a high level of robots in manufacturing show a less decline in human employment than those countries with fewer robots employed, plus, “even as robots replace jobs, another 3.5 million jobs will be created because of robots.”

Our creative thinking is unique to us – it will be some time before robots and AI can replace that.

I hope you enjoyed this and found it useful. Please subscribe to my blog if you’d like to receive an alert when I post new content.

 

 

 

Artificial intelligence is all around you

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Step by step Artificial Intelligence has infiltrated our lives to the point where it is all around us. Its developers have made remarkable progress with its uses; it can play games of strategy with us, but more often it has a more serious commercial use that we encounter every day.

AI is based on the human brain

Human intelligence is the blueprint for AI. How else could its creators construct it? Its very workings are the product of humans and their thinking, so it is natural that it emulates human brain functions. Having said that, it has not yet acquired all our skills, because we don’t even know all the ways in which our brains work, so until we have that knowledge, we can’t replicate it in an algorithm. For example, one of the burning questions amongst those who follow the development of AI is, “does AI actually think?”

Does AI really ‘think’?

The answer is that to some extent, yes it does. The neural pathways of the human brain dynamically exchange information all the time and transmit bits of data to its different centres, such as memory and language. We also have the ability to learn and connect what we learn to what we already know. The complexity of these processes is mind-boggling and each one of us has a unique intelligence; you will rarely find a person who encompasses all the types of intelligence we have catalogued in our world, such as academic excellence, street smarts, EQ, business acumen, artistic vision, manual skills and spiritual wisdom. And that’s just the tip of the iceberg. But, can AI ever hope to replicate our diversity in thinking?

AI imitates the brain’s neural pathways

Well, it is already able to ‘think’ to a certain extent, otherwise we wouldn’t be able to play chess with AI as the opponent. Instead of neurons carrying information, AI has Artificial Neural Networks (ANN). These are “a type of machine learning algorithm in which nodes simulate neurons that compute and distribute information,” says technology writer Joelle Renstrom. These algorithms allow AI to follow the same ‘layered’ thinking that we do. For example, Renstrom in her excellent article on AI in the Daily Beast, explains how we view a sporting event, taking in an enormous range of diverse information and in processing it, we use, “memory, pattern recognition, statistical and strategic analysis, comparison, prediction, and other cognitive capabilities.” The, what is called ‘deep learning’ of AI is doing the same and we encounter its ‘thought’ processes every day.

AI in your media

Have you ever posted a message on social media about shopping for shoes and moments later you notice that adverts for shoe brands are popping up on your screen? That’s AI. You mentioned shoes; it will give you shoes. And it is capable of finding the type of shoes you like, because at sometime or other you’ve probably browsed shoes online, and now Facebook’s algorithm shows you some alternative brands, and in a style that corresponds with your original choice. Mention that you’re visiting Ibiza on social media and you’ll discover ads for Ibiza-related products when you go to read a newspaper online. It’s uncanny.

There are many more exciting aspects to AI that I will look at in future blogs, including how it will acquire general intelligence and whether or not it will ever have the capacity to replicate human creative thinking. AI is here to stay, so we must learn how to maximise its use for our benefit, rather than see it as a competitor to our intelligence.

 

I hope you enjoyed this and found it useful. Please subscribe to my blog if you’d like to receive an alert when I post new content.