Dubai is said to be benefiting from early adoption of new technologies, with opportunities spawned from the emerging Internet of Things (IoT) set to be another avenue in which it can leverage its smart city ambitions, according to industry experts.
As the Arabian Supply Chain website reports, the IoT was put under the spotlight at the DHL Global Technology Conference in Dubai last week, with networking multinational Cisco Systems and courier company DHL offering their views on the future of the "networked connections of physical objects".
At the conference, DHL presented its 'Trend Report' which estimated that less than 1% of all physical objects that can be connected to the Internet are connected currently. However, by 2020, Cisco forecasts that computers will account for just 17% of all Internet connections, with the other 83% stemming from the IoT.
Nour Suliman, CEO of DHL Express Middle East and North Africa, said technology is already driving its business, with many other industries also noticing a marked difference in how they operate on a day-to-day basis.
Speaking about Dubai specifically, Dr. Bernd Heinrichs, managing director IoE EMEAR & Open Berlin IoE Innovation Center, said the IoT is "offering a whole new level of opportunity for technology leadership" in the city.
He added that it is already enjoying a stronger economy, job growth, and improved education, healthcare and citizen services, as a result of continued investment in technology.
Dr. Heinrichs continued: "By leveraging the IoT and the new era of the Internet of Everything (IoE) Dubai can achieve a potential value of $4.87 billion by 2019."
The IoT will generate $8 trillion in increased revenues and lower costs worldwide over the next decade, according to Cisco's economic analysis.
The IoT is clearly the way of the future, and organizations who have not yet implemented new technology in their business will lose out on possible opportunities. It will be interesting to see where in the world we will next see such a vast growth within technology as we have in Dubai.