A team of researchers with Japan's NTT Corporation, the Tokyo University, and the RIKEN research center have announced the development of a full photonics-based approach to quantum computing. Taking advantage of the quantum properties of squeezed light sources, the researchers expect their work to pave the road towards faster and easier deployments of quantum computing systems, avoiding many practical and scaling pitfalls of other approaches. Furthermore, the team is confident their research can lead towards the development of rack-sized, large-scale quantum computing systems that are mostly maintenance-free.

The light-based approach in itself brings many advantages compared to traditional quantum computing architectures, which can be based on a number of approaches (trapped ions, silicon quantum dots, and topological superconductors, just to name a few). However, all of these approaches are somewhat limited from a physics perspective: they all need to employ electronic circuits, which leads to Ohmic heating (the waste heat that results from electrical signals' trips through resistive semiconductor wiring). At the same time, photonics enable tremendous improvements in latency due to data traveling at the speed of light.

Photonics-based quantum computing takes advantage of emerging quantum properties in light. The technical term here is squeezing the more squeezed a light source is, the more quantum behavior it demonstrates. While a minimum squeezing level of over 65% was previously thought required to unlock the necessary quantum properties, the researchers achieved a higher, 75% factor in their experiments. In practical terms, their quantum system unlocks a higher than 6 THz frequency band, thus taking advantage of the benefits of photonics for quantum computing without decreasing the available broadband to unusable levels.

The researchers thus expect their photonics-based quantum design to enable easier deployments there's no need for exotic temperature controls (essentially sub-zero freezers) that are usually required to maintain quantum coherence on other systems. Scaling is also made easier and simplified: there's no need to increase the number of qubits by interlinking several smaller, coherent quantum computing units. Instead, the number of qubits (and thus the performance of the system) can be increased by continuously dividing light into "time segments" and encoding different information in each of these segments. According to the team, this method allows them to "easily increase the number of qubits on the time axis without increasing the size of the equipment."

All of these elements combined allow for a reduction in required raw materials while doing away with the complexity of maintaining communication and quantum coherence between multiple, small quantum computing units. The researchers will now focus on actually building the photonics-based quantum computer. Considering how they estimate their design can scale up towards "millions of qubits," their contributions could enable a revolutionary jump in quantum computation that skips the expected "long road ahead" for useful qubit counts to be achieved.

Read more from the original source:
Research Opens the Door to Fully Light-Based Quantum Computing - Tom's Hardware

2021 will be remembered for a lot of things, but when its all said and done we think itll eventually get called the year quantum computing finally came into focus.

Thats not to say useful quantum computers have actually arrived yet. Theyre still somewhere between a couple years and a couple centuries away. Sorry for being so vague, but when youre dealing with quantum physics there arent yet many guarantees.

This is because physics is an incredibly complex and challenging field of study. And the difficulty gets cranked up exponentially when you start adding theoretical and quantum to the research.

Were talking about physics at the very edge of reason. Like, for example, imagining a quantum-powered artificial intelligence capable of taking on the Four Horseman of the Apocalypse.

That might sound pretty wacky, but this story explains why its not quite as out there as you might think.

But lets go even further. Lets go past the edge of reason and into the realm of the speculative science. Earlier this year we wondered what would happen if physicists could actually prove that reality as we know it isnt real.

Per that article:

Theoretically, if we could zoom in past the muons and leptons and keep going deeper and deeper, we could reach a point where all objects in the universe are indistinguishable from each other because, at the quantum level, everything that exists is just a sea of nearly-identical subparticulate entities.

This version of reality would render the concepts of space and time pointless. Time would only exist as a construct by which we give meaning to our own observations. And those observations would merely be the classical side-effects of existing in a quantum universe.

So, in the grand scheme of things, its possible that our reality is little more than a fleeting, purposeless arrangement of molecules. Everything that encompasses our entire universe may be nothing more than a brief hallucination caused by a quantum vibration.

Nothing makes you feel special like trying to conceive of yourself as a few seasoning particles in an infinite soup of gooey submolecules.

If having an existential quantum identity-crisis isnt your thing, we also covered a lot of cool stuff that doesnt require you to stop seeing yourself as an individual stack of materials.

Does anyone remember the time China said it had built a quantum computer a million times more powerful than Googles? We dont believe it. But thats the claim the researchersmade. You can read more about that here.

Oh, and that Google quantum system the Chinese researchers referenced? Yeah, it turns out it wasnt exactly the massive upgrade over classical supercomputers it was chalked up to be either.

But, of course, we forgive Google for its marketing faux pas. And thats because, hands down, the biggest story of the year for quantum computers was the time crystal breakthrough.

As we wrote at the time:

If Googles actually created time-crystals, it could accelerate the timeline for quantum computing breakthroughs from maybe never to maybe within a few decades.

At the far-fetched, super-optimistic end of things we could see the creation of a working warp drive in our lifetimes. Imagine taking a trip to Mars or the edge of our solar system, and being back home on Earth in time to catch the evening news.

And, even on the conservative end with more realistic expectations, its not hard to imagine quantum computing-based chemical and drug discovery leading to universally-effective cancer treatments.

Talk about a eureka moment!

But there were even bigger things in the world of quantum physics than just advancing computer technology.

Scientists from the University of Sussex determined that black holes emanate a specific kind of quantum pressure that could lend some credence to multiple universe theories.

Basically, we cant explain where the pressure comes from. Could this be blow back from white holes swallowing up energy and matter in a dark, doppelganger universe that exists parallel to our own? Nobody knows! You can read more here though.

Still there were even bigger philosophical questions in play over the course of 2021 when it came to interpreting physics research.

Are we incapable of finding evidence for God because were actually gods in our rights? That might sound like philosophy, but there are some pretty radical physics interpretations behind that assertion.

And, if we are gods, can we stop time? Turns out, whether were just squishy mortal meatbags or actual deities, we actually can!

Alright. If none of those stories impress you, weve saved this one for last. If being a god, inventing time crystals, or even stopping time doesnt float your boat, how about immortality? And not just regular boring immortality, butquantum immortality.

Its probably not probable, and adding the word quantum to something doesnt necessarily make it cooler, but anythings possible in an infinite universe. Plus, the underlying theories involving massive-scale entanglement are incredible read more here.

Seldom a day goes by where something incredible isnt happening in the world of physics research. But thats nothing compared to the magic weve yet to uncover out there in this fabulous universe we live in.

Luckily for you, Neural will be back in 2022 to help make sense of it all. Stick with us for the most compelling, wild, and deep reporting on the quantum world this side of the non-fiction realm.

Follow this link:
Neural's best quantum computing and physics stories from 2021 - The Next Web

ByMatthias Lais, Founder Director of main incubator the research and development unit of Commerzbank

Banks unwavering dedication to innovation is hardly a new phenomenon. Financial institutions (FIs) have long turned to technology to transform their organisations and deliver enhanced solutions for clients. And, with the global pandemic adding significant momentum to the finance industrys shift towards digitalisation, now more than ever, they are seeking out new innovative ways to adjust to new realities and position themselves and their clients for tomorrows opportunities.

Developing said innovation, however, requires keen strategic focus. Working in tandem with partners is particularly conducive to innovation, allowing valuable input from sources with varying perspectives, skillsets and experience. For example, fintech providers and start-ups are characterised by speed and inventiveness and such partnerships are also effective ways of developing new ideas and testing the potential of different products.

It is at the cutting edge of a banks business model that innovative collaboration with partners can deliver true value. In fact, collaboration is evolving in a way that is enabling FIs to extend their services beyond banking, adding value by addressing broader client needs through solutions such as corporate travel expense management systems that would have been difficult to provide alone. Indeed, the banking sectors horizons continue to grow broader every day, as FIs think outside the box to add value and solve client problems.

Quantum computing and new possibilities

At main incubator, we dedicate our research and development (R&D) efforts to nascent technologies those far from the cusp of mass adoption, but that have the potential for wide application across the financial services sector.

Quantum computing is undoubtedly one of the most exciting technologies being explored in this respect. By employing phenomena studied by quantum physics, processors with superior processing power to classical computers are being developed. Such capabilities enable computational problems to be solved faster, and could perform processes that current computers cannot yet carry out.

Furthermore, with big data often referred to as the most important resource in todays information-driven ecosystem, this expanded processing power could be key to managing ever-expanding quantities of data. It could become key to portfolio management solutions, for instance, with algorithms applied to efficiently and effectively identify an optimal portfolio of assets from a large pool of potential options, based on select criteria.

Quantum computing also has the potential to create significant cost savings by dramatically reducing the time spent on complex computations. Regulatory calculations, which can involve processes that take hours to complete, would be greatly simplified using this technology, for example.

But while the technology holds undeniable promise, development is still at an early stage and the hardware will require extensive development before it can be used in real-life solutions. We are working with Fujitsu on a project that, while not a full quantum computer, uses quantum-inspired technology to deliver precise calculations at enhanced speeds. Called digital annealing, this project has so far given rise to a number of promising prototypes and should serve as a basis to study the further benefits of quantum technology in finance.

Technology is key to navigating a data-rich world

Artificial intelligence (AI), algorithms, machine learning and data analytics are all driving innovation across the banking sector, and are bringing market players together in the spirit of collaboration. The Financial Big Data Cluster (FBDC), for instance, aims to set up a secure data exchange framework to connect FIs and enhance the efficiency of existing processes. This will be particularly valuable for due diligence, which currently creates in duplicated work due to multiple banks requiring the same kind of data. A shared data pool also provides the foundation for a variety of AI and machine learning applications, which can be built upon a common ecosystem.

The belief in the power of collaboration is also present in another major data-related initiative Lissi. An acronym for Lets initiate self-sovereign identity, Lissi is a project driven by distributed ledger technology that aims to give individuals and organisations rather than major tech companies control over their digital identities. With Lissi now gathering substantial momentum, significant progress is expected by the end of the year, and the principles behind this project could later potentially be applied to devices and appliances as these become ever-more connected through the internet of things.

Working together for sustainable prosperity

Climate change and related environmental concerns are as valid a catalyst for change as technological innovation. Afterall, sustainability and innovation go hand in hand. A broad-based transition to sustainable development will involve change across all economic sectors change that will present challenges but also inevitably create new opportunities. Technology can be a powerful tool when used to create a more sustainable financial sector, and the potential for innovative sustainable solutions is clear. For instance, we are working on a system aimed at clients in the funds space that will provide ESG ratings for illiquid assets. While ESG ratings are already prevalent in public capital markets, a private equity fund that invests in unlisted companies might not have access to the information it needs to make sustainable, commercially viable decisions a problem this solution will address.

With innovation, sustainability and collaboration all key factors driving the development of the finance industry, empowering organisations to work together and putting innovation to work for the common good is becoming increasingly important. The Impact Festival, which has quickly become Europes largest B2B sustainability event, is more than just a conference. It is a community-based platform designed to connect corporates with innovative start-ups and other resources to support their ESG needs. By introducing the most promising innovators, thought leaders and green solution providers to our extensive global network of corporates, the initiative acts as a hub for the sharing of ideas and best practices.

Innovation is more than developing the next generation of hardware it also involves embracing new ways of thinking about the future of our planet, our industry, our offerings, and having an open-minded approach towards working with others. The banking sector of tomorrow can come to embody all this and more, and deliver opportunities and benefits for all.

Making an IMPACT

Through the IMPACT FESTIVAL, main incubator has created the first community-based platform for sustainable technologies and innovations in Europe. Its aim is to support and accelerate the green transformation by connecting innovators such as green start-ups with corporates that want and need to become more sustainable, as well as venture capital investors that accelerate the transformation through their investments. The second IMPACT FESTIVAL will take place on the 5th and 6th of October 2022. To find out more, visit https://impact-festival.earth/

Read more:
How Innovation And Sustainability Will Define Tomorrow's Banking Sector - International Banker

As we head into 2022, forecasts for Israels bubbling tech sector are big, optimistic, and showing no signs of slowing down. Industry experts and tech investors are looking ahead with eyes wide open and faith in the countrys entrepreneurs that the year to come will be strong with stable growth.

We continue to be really excited about Israel as a focus area, Nicole Priel, partner at Ibex Investors, tells NoCamels. Weve been really active in Israel and we dont see that slowing downWe see so much promise in this ecosystem across enterprise software and other sectors.

The outgoing year has been one of record-breaking funding, turning crises into opportunity, globally recognized groundbreaking inventions, a surge in valuations of Israeli tech firms, big acquisitions, and maturation into a scale-up nation.

We really are transitioning from startup nation to scale-up nation and this is just attracting so much capital, says Jonathan Medved, founder, and CEO of OurCrowd.

Israeli innovation is everywhere, touching numerous tech sectors simultaneously. In 2021, local tech companies continued to take the lead in cybersecurity, agriculture technologies, financial technologies, mobility, data, and digital privacy, among other fields.

The big question: Where will Israel make its mark in 2022?

With so many booming sectors within the high-tech arena, its a tough call to make. So, NoCamels asked the experts to share their predictions for the next 12 months.

If the pundits are right, these are the 7 tech trends where Israel will make an impact in 2022:

E-commerce has exploded throughout 2021, in large part due to the COVID-19 pandemic.

According to market reports, 66 percent of customers choose what to buy based on convenience. So, it is no surprise that e-commerce is a booming industry.

Theres a couple of spaces that we think Israel is really going to excel in, anda couple of them are around e-commerce. We are thinking a lot about how companies are going to chip away at Amazons monopoly, including around logistics and warehousing Priel told NoCamels.

Israeli companies are looking for solutions to rapid shipping and the online returns space, among other areas. Priel says Ibex Investors are taking a look at the online returns space and thinking about how startups can help mitigate online returns to create a stronger online shopping experience overall.

In addition to changing the way users shop, sellers need strong e-commerce tools for their online stores.

More focus and emphasis is going to be placed on customer success as a driver within SaaS organizations, so we are excited to see what technologies will pop up to support CS organizations and help drive revenue, says Priel.

It is more expensive to acquire a new customer than it is to retain a previous customer, Priel explains. It is because of this principle of marketing that customer satisfaction will become a more dominant indicator and marketing metric for SaaS-based companies which could allow sales teams to more accurately serve their clientele.

And, its not just in the traditional e-commerce space that well see new solutions.

Medved believes the next 10 years will see huge growth in immersive e-commerce.

We are looking at all kinds of AR, VR, more immersive interactions [in general] will become more normal over the coming years, he says, noting investments in ByondXR, an Israeli software company that creates immersive virtual stores where people can pick out goods, and ZipIt, which can turn any store into a touchless, personless Amazon-like store.

More advanced logistics, last-mile delivery, and shipment innovations are going to be a popular trend in tech in 2022, says Priel, citing dark kitchens food producers with no physical location and dark warehouses spaces used to deliver orders to shorten the distance to the consumer as examples.

We are also very excited about the idea of dark kitchens and dark warehouses for delivering items to consumers, whether its merchandise or food, says Priel.

While these unique distribution methods are important for last-mile delivery, the COVID-19 pandemic put the spotlight on supply chain logistics in general.

Supply chain is critical [and] Israel is very strong in terms of optimization and planning. There are a lot of unmet needs that we are busy working on, says Medved.

Blue-and-white solutions include Freightos, which streamlines the shipping industry through an international freight marketplace; BionicHive, which deploys easily portable and autonomously machines around warehouses; and Trellis which predicts the yield, cost, and quality of produce while using AI to accurately move goods.

Semiconductors are found in every piece of hardware we use from personal computers, cars, databases, toasters to rocket ships, and more.

Israel has a global name for its hardware innovation. With an ever-increasing need for processing power thanks to big data and AI its no surprise that in 2021, this country continued its rule as a global powerhouse in semiconductor and computer chip R&D.

Intel announced in May that it will be investing $10 billion in a new processing center in Kiryat Gat in addition to investing $600 million in its centers in Haifa and Jerusalem.

In March, Google announced that it will be doubling down on Israeli computer chip design and production. They hired former senior Intel executive, Uri Frank as VP of Engineering of Server Chip Design to build a world-class team in Israel.

Market reports show 2022 demand for computer chips is meant to rise. And this will only benefit Israel.

The increasing importance of semiconductors will only be good for Israel. We have situations like Facebook, Microsoft, and Amazon all talking about setting up semiconductor activities here, says Medved.

Technology can only move as fast as the computer chips its built on. So how is Israel making them faster?

The answer is quantum computing.

Quantum Computing is a type of computing that harnesses the properties of quantum states to create calculations. Naturally, computers can only compute information as fast as physics will allow the particles to move. But, utilizing quantum properties, information can move much, much faster than currently possible.

The Israeli government is making a strong effort to push Israel forward in the field.

In 2019, the Knesset committed roughly $400 million to a five-year National Quantum Initiative which included $60 million towards the effort of producing a quantum computer. Physics Today reported in October that over the last two years, there has been a leap from five to 30 quantum-based companies in Israel.

Earlier this month, Hebrew University Physicist, Dr. Shlomi Kotler, won Physics Worlds 2021 Breakthrough of the Year award, presented by the UK-based Institute of Physics to two research teams who advanced the understanding of quantum systems.

His team successfully quantum-mechanically entangles two drumheads that can be used as quantum sensors or nodes in a quantum network.

Physics World editors chose this years winners from nearly 600 published research articles and wrote the winners demonstrated important work for scientific progress and/or the development of real-world applications.

CEO and co-founder of Israeli-based, Quantum Machines, Itamar Sivan told Physics Today that he has no doubt that quantum computing will become influential and its ultimately a question of When?. He credits his companys success to the easy accessibility to funding for quantum based-firms. He said, There are great engineers and amazing talent in Israel. We can find people here who are both experts in quantum but also have some engineering background.

SEE ALSO: On Yom Haatzmaut, A Look At Israels Innovation Contributions To The World

Talking about the upcoming year, Medved says, 2022 will see Quantum Computing attract continued strong interest from investors. I expect that global Quantum VC investment will more than double from 2021s $1 billion and that revenues of Quantum companies will near $500 million in 2022. While this is impressive growth, we havent seen anything yet. In a decade from now, Quantum will be ubiquitous, and will be an order of magnitude larger in investment and revenues. While the mainstream adoption of quantum computing is still a decade away, the technological advances that are coming out of Israel will definitely make waves in the coming year and beyond.

The blockchain industry has come a long way. It started 12 years ago as a payment method and store of value. The technology slowly evolved to be a solution for supply chain management, digital security, voting applications, financial applications, and digital ownership in the form of tokens called NFTs and much more.

In 2021, blockchain technology became much more mainstream not only with the explosion of the NFT ecosystem but it gained adoption or is being explored by companies like Nike, Adidas, Facebook (Meta), PayPal, Visa, Ubisoft, and Shopify.

I think its going to flourish like crazy, Medved says of blockchain. Were starting to make investments in those types of companies. We have not been big players or players at all in ICOs or cryptocurrencies but we believe in DeFi and that theres going to be a lot of business applications utilizing the blockchain and now is the time.

The blockchain industry is set to be worth $67.8 billion by 2026, according to market reports.

Blockchain is expected to continue being a strong and emerging sector into 2022, especially in Israel.

In November, American cryptocurrency exchange Coinbase acquired Unbound Security for a believed $150 million, according to a report. Coinbase not only gains access to some of the worlds most sophisticated cryptographic security experts but also a presence in Israel Weve long recognized Israel as a hotbed of strong technology and cryptography talent, reads a press release.

According to data compiled by Start-Up Nation Finder, cryptocurrency-tagged companies raised, for the first time ever, over $1 billion in funding for 2021. While a big milestone for the Israeli Web3 ecosystem, the global acceleration of the cryptocurrency markets crossing $2 trillion leaves a lot of room for Israels growth within this sector.

The pandemic accelerated the need for digital health solutions such as telemedicine, at-home medical devices, and personalized treatments.

Theres no slowing [digital health] down because people will get healthier, it will become much more efficient and it will reduce medical costs, says Medved.

Israel has long been a powerhouse in the health-tech space and COVID-19 has only upped its innovation. Israel has over 1,400 digital health startups, according to Start-Up Nation Finder.

On a global level, telehealth has increased 38 times from pre-COVID-19 levels, according to market reports. Global healthcare spending is set to hit over $10 trillion in 2022, and Fortune Business Insight predicts telehealth to be a $397 billion industry by 2027.

Israeli companies are all over the digital health space, with artificial intelligence for drug discovery, molecular diagnostics for personalized treatments, and VR-based FDA compliant telehealth meetings.

Among the companies to hit the news in 2021, are the likes of air filter companies like Aura Air, which this past week won the approval of the health and education ministries to be installed in 700 Jerusalem classrooms, and Tadiran which says it removes 99.9% of COVID-19 particles from the air. Additionally, SaNOtize, invented a nasal spray to kill the virus with a spritz and MigVax, claims to have an oral effective booster against the virus.

Also earlier this month, eight Israeli startups werenamedto the prestigiousDigital Health 150, an annual global ranking by New York-based research firm CB Insights of the 150 most promising companies using digital technology to transform the healthcare industry.

On health care technology, Medved told NoCamels, The most important word today in venture capital seems to be velocity. There seems to be a speed at which funding is getting done, companies are growing much faster than before and thats happening in healthcare too which is one of the slower moving areas because of the need for approval and you even see the FDA, because of the changes made in the pandemic just moving a lot faster.

Food tech conquered the headlines in 2021, with a wide range of jaw-dropping innovations.

And Israel is taking part in this revolution of what we eat, how we eat it, what its wrapped in, and how it gets from farm to our plate.

In September, Margalit Startup City Galil the International Foodtech Center, developed in conjunction with the Jewish National Fund (JNF), opened its doors. The center is dedicated to the application of food science and food technologies.

Lab-grown meat was a buzzword in 2021 and is likely going to continue to demand solutions that tackle the harmful effects of livestock systems and reduce the populations reliance on livestock in 2022. Earlier this year, NoCamels reported on the Israeli FoodTech incubator The Kitchen Hub and how its using its resources to cultivate sustainable innovations in the food industry.

Indeed, the Food and Agriculture Organizations of the UN found that the livestock sector emerges as one of the top two or three most significant contributors to the most serious environmental problems.

In November, the worlds first lab-grown meat factory opened in Israel.

Future Meat Technologies, a cell-grown meat developer, raised the most in the sectors history with a Series B investment of $347 million. This investment broke records as the biggest single investment in a cultured meat company to date.

Beyond the lab-grown meat trend, a slew of companies like Imagindairy develop animal-free dairy, Ukko designs proteins that dont trigger allergic responses, and ZeroEgg produces plant-based eggs that aim to behave and taste like the real thing.

Were (globally) investing broadly in food, a ton of money, in next generation milk, eggs, fish, and reduced sugar. Were investing in agriculture tech in terms of data collection and sensors, but not for one year, says Medved.

Read more from the original source:
7 Tech Trends Where Israel Could Make An Impact In 2022 - NoCamels - Israeli Innovation News

Geely and Waymo cooperate to develop robotaxi

Geelys premium electric vehicle (EV) brand Zeekr will cooperate with Googles self-driving car unit Waymo to develop robotaxi in the United States. The robotaxi is designed and developed by Zeekrs factory in Sweden, integrating Waymos unmanned driving technology. Waymo has already launched robotaxi services in Phoenix about a year ago and has provided services to thousands of customers so far. Cooperating with Zeekr can help Waymo expand its robotaxi services, and pave the way for Geely to enter the US market.

Baidu releases Quantum Platform 2.0

During the Baidu Create 2021, Baidu officially released Baidu Quantum Platform 2.0. Duan Runyao, director of Baidu Quantum Computing Institute, said that Baidu Quantum Platform can lower the threshold for quantum computing learning and application, and accelerate the application of quantum computing in the fields of chemistry, finance and materials.

Consumer-grade robot brand ROBOSEN raises US$100 million

Chinese consumer-grade robot brand ROBOSEN has completed a series B+ round of financing, led by Cedarlake Capital. Recent Capital, Lightspeed China Partners, existing investors Sequoia Capital China, Dayone Capital and Qlacier Capital also participated. After the completion of financing, ROBOSEN will continue to explore more IP partners, provide diversified products, and expand talent team.

QCraft partners with Dongfeng Motor on Sharing Bus

QCraft, a Chinese autonomous driving technology firm, signed a cooperation agreement with Dongfeng Sharing-VAN in the fields of pre-installation mass production, customized development, optimization and iteration of Sharing Bus models, to jointly practice the commercial innovation of autonomous driving, and help Wuhan build the first "autonomous driving city" in China. In the future, QCraft and Dongfeng Sharing-VAN will gradually realize the commercial operation of 300 unmanned vehicles nationwide.

(China Money Networks articles are curated and translated from credible Chinese media organizations with established brands, experienced editorial teams, and trustworthy journalism practices. However, we are not responsible for the accuracy of the information. For any questions, please reach out to our editorial department.)

Originally posted here:
China Tech Digest: Geely And Waymo Cooperate To Develop Robotaxi; QCraft Partners With Dongfeng Motor On Sh... - China Money Network

Global spending on digital transformation is predicted to jump 20 per cent annually to $1.8 trillion next year, according to Statista.

Covid-induced market disruptions and widespread adoption of hybrid work models have accelerated the process. Many businesses are more inclined towards developing in-house technologies to reduce their dependence on third-party service providers and ensure they are less affected in case of future supply chain disruptions, industry experts said.

Digital tech initiatives remain a top strategic business priority for companies as they continue to reinvent the future of work focusing spending on making their infrastructure bulletproof and accommodating increasingly complex hybrid work for employees going into 2022, said Jon-David Lovelock, research vice president at Gartner.

Amid the increasing digital transformation budgets and emergence of latest innovations, The National looks at the 10 top technology trends for the year ahead.

The hand of a humanoid robot operates a switchboard during a demonstration by the German Research Center for Artificial Intelligence. Photo: Reuters

One of the most powerful artificial intelligence techniques coming to market is generative AI. It involves a set of machine learning methods that learn about content or objects from their data and use the knowledge to produce totally new and more realistic products.

Connecticut-based technology research and consulting company Gartner expects generative AI to account for nearly 10 per cent of all data produced, up from less than 1 per cent today.

This technology can be used for a range of activities such as creating software code, accelerating new drug development and targeted marketing. However, industry analysts cautioned it can also be misused for scams, spreading political disinformation and creating forged identities.

Digital finance innovations, such as cryptocurrencies and central bank-backed digital currencies (CBDCs), will boost financial inclusion and improve cross-border payments.

A Christmas tree in front of racks of illuminated mining rigs at the Minto cryptocurrency mining centre in Nadvoitsy, Russia. Photo: Bloomberg

In October, the International Monetary Fund said it was looking at both the risks and opportunities that digital currencies pose.

Central banks across the world are increasingly assessing the potential of digital currencies amid a growing interest in cryptocurrencies and other online payment channels.

The number of countries developing CBDCs has dramatically increased as consumers shifted to digital payments during the coronavirus pandemic, a report by Moodys Investors Service said.

For many consumers and businesses that made the switch to digital payments, there is probably no going back, even if the pandemic-related concerns about the tactile nature of cash were to recede, Eswar Prasad, a professor of economics at Cornell University and author of the book, The Future of Money: How the Digital Revolution is Transforming Currencies and Finance, told CNBC.

As businesses continue to transform, traditional programming or simple automation will not scale enough.

A robot displays Covid-19 protection instructions at Expo 2020 Dubai. AFP

Autonomic systems are self-managing physical or software systems that learn from their environments. Unlike automated or even autonomous systems, autonomic systems can modify their own algorithms without an external software update, enabling them to rapidly adapt to new conditions in the field, much like humans can.

Autonomic behaviour has already made itself known through recent deployments in complex security environments, but in the longer term will become common in physical systems such as robots, drones, manufacturing machines and smart spaces, said David Groombridge, research vice president at Gartner.

Electric vehicles are fast gaining popularity as government incentives and subsidies drive their adoption.

An electric car is charged at a roadside EV charge point in London. Photo: Reuters

But charging is still a problem as public EV charging networks usually have a low level of interoperability it involves different access methods, payment types and accounts.

UK-based Juniper Research said it will begin to break down in 2022.

The worlds biggest EV maker Tesla is already opening its supercharger network and other large charging networks are expected to follow, to make the technology mainstream.

End users will gain significantly they will have better, more comprehensive charging network options, making EV ownership more viable, Juniper said.

More EV charging networks will enable interoperability and work to develop common ways to access and pay. Vehicle manufacturers will offer aggregator apps that enable easier charging options, it added.

Quantum computers represent a massive acceleration in computing speed and performance. It is expected to deliver extraordinary advances across a multitude of industries including pharmaceutical development, nuclear energy, materials science, renewable energy, climate change mitigation, sustainable agriculture and more.

The world's biggest economies the US, Russia, China and Japan as well as tech titans IBM, Alibaba, Google and Microsoft, are all battling for supremacy in the field. Companies such as Visa, JP Morgan and Volkswagen are also experimenting with early-stage quantum technology.

In May, Google said it aims to build a commercial-grade quantum computer by 2029 that can perform error-free complex calculations in tiny fractions of a second.

In March, Abu Dhabi said it will build its own quantum computer, the first in the country, which will be able to process information at much faster speeds than classic technology.

Google chief executive Sundar Pichai and Daniel Sank, senior research scientist at Google, with one of the company's quantum computers in the Santa Barbara lab, California. Photo: Reuters

Hyperautomation is a process in which businesses automate as many tasks as possible using tools like AI, machine learning and robotics.

It enables fast growth and business resilience by quickly finding, testing and automating as many processes as possible.

Top-performing hyperautomation teams focus on three key priorities improving the quality of work, speeding up business processes and enhancing the agility of decision-making, Mr Groombridge said.

By 2022, nearly 45 per cent of repetitive work tasks will be automated and augmented by using digital co-workers, powered by AI and robotics, according to International Data Corporation.

Gallery workers pose with the Ai-Da Robot at the Ashmolean Museum in the UK. Ai-Da is an ultra-realistic robot with artificial intelligence capabilities. Photo: EPA

Faster digital connections, powered by 5G and the Internet of Things, will unlock the untapped potential and add to the world economy, industry experts said.

Ensuring faster connections in areas such as mobility, healthcare, manufacturing and retail could increase the global gross domestic product by $1.2tn to $2tn by 2030, according to McKinsey.

Cyber security mesh is a strategy that independently secures each device with its own perimetre. Most of the traditional security practices use a single perimetre to secure an entire IT environment, but a cyber security mesh uses a more rounded and an all-inclusive approach.

Data is only useful if enterprises can trust it, Mr Groombridge said.

Today, assets and users can be anywhere, meaning the traditional security perimetre is gone this requires a cyber security mesh architecture.

Workers on a 5G tower at Shougang Park, one of the sites for the Beijing 2022 Winter Olympics. Photo: AFP

By 2024, organisations adopting cyber security mesh to integrate security tools to work as a co-operative ecosystem will reduce the financial impact of individual security incidents by an average of 90 per cent, Gartner predicted.

Covid-induced disruptions and cyber attacks have put the spotlight on the necessity to have a resilient network of supply chains.

Supply-chain cyber security will become a concern for all industries, not just those that deal with the software directly, Juniper predicted.

Legislative pressure, particularly from the US, is driving cyber security reform for the software supply chain increased availability of AI, blockchain and other digital technologies will be leveraged for increased security following several high-profile data breaches in 2021, it added.

Cyber security is one of the growing concerns among businesses worldwide. Pawan Singh / The National

The pandemic and the surge in digital services are making cloud the centrepiece of new digital experiences.

In 2022, global cloud revenue is estimated to total $474 billion, up from $408bn this year, according to Gartner.

There is no business strategy without a cloud strategy, said Milind Govejar, vice president at Gartner.

Cloud has enabled new digital experiences such as mobile payment systems where banks have invested in start-ups, energy companies using cloud to improve their customers retail experiences or car companies launching new personalisation services for customers' safety and infotainment, he added.

Updated: December 29th 2021, 10:33 AM

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