🛋️ Emerging technologies for 2024 – how will they change your life?

Will AI replace human researchers completely? Are we risking security for better Wi-Fi with RIS technology? And how will the metaverse make many construction jobs unnecessary?

Today's Couchonomics edition looks into these emerging technologies, exploring their potential to change industries and reshape our daily lives.

If you're new to us, join the 23,361  readers who rely on us for their updates by subscribing here.

🛋️ Emerging technologies for 2024 – how will they change your life?

We’re now at that point where AI could lead scientific discoveries and develop new drugs. 

Researchers are using AI to make connections and insights that would be almost impossible for humans alone. Like predicting protein structures, finding new antibiotics, and understanding biology and the human mind like never before.

Also, the metaverse might replace a lot of physical construction, and many traditional jobs in the industry could vanish. 

We're now adopting RIS tech that could make our current wireless networks obsolete. Think of smart surfaces redirecting signals exactly where needed. It’s like having mirrors that boost Wi-Fi in remote areas.  

Then there's this new tech called elastocaloric heat pumps. These smart devices use special metals to cool things down without the harmful chemicals in traditional AC.

All these technologies and more are unpacked for 2024. 

Background

• AI, particularly deep learning and generative AI, is changing scientific research.
• Examples include DeepMind's AlphaFold, which helps predict protein structures and discover new antibiotics and materials.
• Elastocaloric heat pumps use special materials that heat up when stressed and cool down when relaxed.
• They use less energy and don't rely on harmful refrigerants, making them a promising solution for reducing global energy needs.
• RIS platforms improve wireless communication using smart surfaces. They boost data rates, energy efficiency, and reduce interference.
• The metaverse allows for remote construction inspections, saving time and resources in the industry.

Today

• Scientists use AI large language models to study scientific literature, generate new ideas, and analyse data.
• There are ethical issues such as privacy, autonomy, and environmental impacts of AI.
• Elastocaloric heat pumps are becoming popular for commercial use, with advances in materials and device designs.
• Universities and businesses are testing prototypes with new materials and production methods.
• But challenges include scaling production and material durability over many stress cycles.
• Major telecom companies are investing in RIS technology.
• RIS is improving current wireless networks, but challenges include high costs and the need for clear standards and regulations.
• Researchers are looking into how generative AI and text-to-building information modelling can make construction easier.

What's Next

• Researchers are working on making sure that AI has positive benefits by fixing biases in data, and keeping trustworthy generated content.
• Future developments for elastocaloric heat pumps focus on making materials stronger and energy systems more efficient.
• Scaling production to meet growing global cooling needs is a top priority. 
• RIS is expected to grow quickly and be widely used in industries such as smart factories, IoT, vehicular networks, and agriculture.
• Ongoing research into generative AI and immersive technologies aims to improve construction accuracy, safety, and sustainability.

Are we ready for such disruptive technologies? And how can we make them more sustainable?

🟠 Ajman Bank partners with Magnati to offer secure online and in-store payment solutions for its corporate and business banking clients.

🟠 HSBC Bahrain completes an important trade finance transaction using electronic bill of lading, aligning with Bahrain’s Vision 2030 for digital transformation.

🟠 Reem Finance partners with Network International to speed up digital transformation and improve banking experiences in the UAE.

🟠 Central Bank of UAE introduces sandbox conditions regulation to attract fintech startups.

🟠 Dubai Humanitarian teams up with noqodi to improve global humanitarian payments with digital solutions.

🟠 India, Malaysia, Thailand, Singapore, and the Philippines will launch instant cross-border retail payments platform by 2026.

🟠 DBS Bank and Mashreq partner in to offer same-day cross-border payments to Mashreq's retail customers across Asia Pacific, Europe, and the Americas using DBS Globesend.

🟠 Wio Bank improves UAE SME banking with embedded finance services and partnerships with Zoho Books, Fiskl, and Wafeq.

🟠 Global embedded finance market is expected to hit $320B by 2030, with consumer segment in payments, insurance, and lending set to generate $120B revenue.

🟠 Sequence collaborates with Transak to streamline Web3 gaming payments, aiming to improve players onboarding.

🟠 Aptos Foundation and Alibaba Cloud partner on Alcove initiative to improve Japan’s web3 ecosystem and smart contract development in APAC.

🟠 UAE's new regulations hint at banning crypto payments, requiring tokens to be licensed or registered under strict criteria.

🟠 Coinbase and Stripe partner to  allow crypto buying with credit cards or Apple Pay in Coinbase Wallet, and add Coinbase's Layer 2 network Base to Stripe's crypto payout options.

🟠 Alsaree3, an Iraq-based food delivery app, raised a seven-figure Series A round to boost its growth.

🟠 Egypt-based fintech Connect Money has closed an $8 million Seed funding round to launch five new business verticals in North Africa.

🟠 UAE-based fintech Comfi secured a $5 million debt facility from an Abu Dhabi family office to expand its embedded BNPL solution.

🟠 UAE-based e& acquires Turkish cloud services provider GlassHouse for $60 million to expand IT presence.

🟠 Saudi AI accelerator program ‘AIM-X’ will be led by SparkLabs Group to boost the Kingdom’s global AI leadership.

Digital Oportunities in African Businesses: Why are African businesses at different stages with digital tech?This report discusses the challenges African businesses face to go digital including poor infrastructure, limited funds, a shortage of digital skills, and regulatory hurdles. Also, Africa needs a full approach that deals with infrastructure, skills, money, and the rules to make digital growth fair. Finally, targeted policies and investments are needed to get private companies to invest more in digital tech. Click here to read the full report.

This week on Couchonomics with Arjun, we're excited to have Kushal Shah, Managing Director of e& capital, joining us on the couch. Kushal looks deep into the growing space of Corporate Venture Capitals (CVCs) in the region. He shares valuable insights into e& capital's investment areas, their strategic focus post-investment, and future plans. Tune in to this insightful episode to explore the challenges and recommendations for CVCs.

Now, a quick break for your wellness. Chief Wellness Officer at FAB Diego Carrete is on a mission to help executives get fit, increase their energy, and live longer.

Today, he shares 3 go-to choices to stay energised.

Hello there, 

Based on 10 years studying the science of physiology, metabolism, and nutritional biochemistry and 22 years of experience, the below are my 3 go-to choices to stay energised, keep your metabolism optimised, and build lean muscle as you power through your day. 

• Choice #1: Low-fat cottage cheese, a handful of blueberries, and 10 almonds. 
• Choice #2: 30 grams of whey protein with 300 ml of COLD water and 1 tbsp of powdered peanut butter. 
• Choice #3: 2 slices of protein bread, two slices of low-fat cheese, and 20 gr of sugar-free strawberry jam. 

All 3 options have one thing in common: they're high in slow-release protein, have a healthy amount of fatty acids, and a low amount of sugar – which will keep you satiated, energized, and cognitively supercharged.

That’s it for now.

Helpful? See you next week, where we'll talk about how we can improve our brain functions.

Subscribe for weekly updates on all things fintech here. Thank you to our sponsors ToYou, Mastercard, M2P Fintech, Thunes, geidea, and Adyen for making today's edition possible.

•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•_•

💡 Want to guest post in this newsletter?

This newsletter reaches over 20,000 subscribers interested in fintech’s latest developments. If you have an insightful perspective to share, drop us a line at editor@couchonomics.com.