Tag: tech

Source: MyBroadband

While the impact of COVID-19 on IT and telecoms companies is not as severe as many other industries, these industries are still faced with big challenges because of the downturn in the economy.

ICT companies which have a lot of exposure to the travel, tourism, and restaurant industries, for example, have to deal with a significant loss in revenue.

One of these companies is Adapt IT, which said the negative impact of the lockdown on its clients in the hospitality sector has resulted in 20% of its employees being unable to work or perform their regular duties.

The poor forecast of the hospitality sector has forced Adapt IT to consider staff cuts, and it is currently in a consultation process with 4% of its permanent staff who may be affected.

Altron COO Andrew Holden told MyBroadband they have had to effect temporary layoffs due to the inability of some customers to pay for services as their businesses had been affected by the lockdown.

“Where possible, Altron will seek alternative opportunities for affected employees within the group. Retrenchments are a last resort, and will be limited as far as possible,” said Holden.

Many other large tech companies like Altron, Dimension Data, Blue Label, and Alviva have also indicated that staff cuts may be necessary in the event of a prolonged economic downturn.

Salary cuts
Many South African IT companies had to implement salary cuts to mitigate the financial impact of the lockdown.

Salary cuts in the IT industry were necessary for two main reasons:

Many clients stopped paying because of the impact of the lockdown on their businesses.
Employees could not work because their clients had to close their businesses during lockdown.
In April, EOH CEO Stephen Van Coller announced that the company’s executive committee would take a salary reduction of 25%, with other staff taking a 20% pay cut.

This was needed because of the anticipated drop in payments from clients and future uncertainty on the full impact of COVID-19 on the economy and the company.

Cell C also implemented salary cuts and used the COVID-19 TERS Relief Funds to cover the shortfalls for those employees to the extent provided by the UIF.

Alviva told MyBroadband there were no mass pay cuts at the company, but that it had to implement salary reductions in a few isolated cases.

Altron followed a different approach to ensure the sustainability of the company. Instead of cutting salaries, it reversed all salary increases granted as of 1 March.

Good news for the telecoms industry is that very few of the large mobile operators and ISPs had to implement salary cuts during the lockdown.

Vodacom, MTN, Telkom, Liquid Telecom, Rain, Afrihost, Cool Ideas, and Cybersmart said they have not implemented any salary cuts during the lockdown.

The outlook for the South African ICT industry
While many large IT and telecoms companies were able to prevent retrenchments, they warned that the full impact of COVID-19 may result in staff cuts in future.

Alviva said the full impact of the COVID-19 pandemic on the economy and the company will inform their decision regarding future staff cuts.

Blue Label echoed this view. “Should the lockdown persist indefinitely, and economic conditions continue to adversely impact ourselves and our customers, hard decisions regarding retrenchments will have to be made,” the company said.

Dimension Data told MyBroadband should the need arise to reduce its workforce to ensure sound and responsible fiscal management, it would be done only after exhausting all possible alternatives.

“We will always take a long-term view of the market opportunities, trends, economic outlook, and investment and spend forecasts and put them in the context of our strategy and vision before making any decisions,” Dimension Data said.

Telkom said while it has not cut any salaries at this stage, it is still studying the impact of the virus and the lockdown on the business.

Big tech companies no longer attractive employers

By Jessica Stillman for Inc.com

Look at any list of America’s most in-demand employers from the last decade and you’ll find it’s dotted with big tech companies like Google, Amazon, and Facebook. This prominence, coupled with these firm’s legendary perks and generous pay, might lead you to believe the best and brightest tech talent is knocking down the door to work there.

But according to a handful of fascinating recent reports, the appeal of working at big tech companies is actually on the wane.

The “techlash” comes to college campuses
A parade of ethics scandals, from Facebook’s disinformation problem to Google’s troubles with sexual harassment and Chinese censorship, combined with younger generations’ commitment to working for companies that align with their values, has made going to work for big tech something of an embarrassment at many of America’s elite universities, Emma Goldberg writes in the New York Times.

College seniors and recent graduates looking for jobs that are both principled and high-paying are doing so in a world that has soured on Big Tech. The positive perceptions of Google, Facebook and other large tech firms are crumbling.

Many students still see employment in tech as a ticket to prosperity, but for job seekers who can afford to be choosy, there is a growing sentiment that Silicon Valley’s most lucrative positions aren’t worth the ethical quandaries.

“Working at Google or Facebook seemed like the coolest thing ever my freshman year, because you’d get paid a ton of money but it was socially responsible,” reports one senior Goldberg interviews. Now, “there’s more hesitation about the moral qualities of these jobs. It’s like how people look at Wall Street.”

Another grad, this one from Stanford, relates that when fellow students announce they’re going to work for the likes of Facebook there is “an awkward gap where they feel like they have to justify themselves.”

Working on Wall Street, of course, hardly makes you a pariah, nor are financial firms unable to attract smart young people. But tech companies once enjoyed rock star-like appeal. To find themselves suddenly consigned to the same uncool category as the amoral (at best) finance industry is a big come down.

And Goldberg has numbers to back up this reputational slide. Pew research shows that the percentage of Americans who believe tech companies have a positive impact has fallen from 71 percent just five years ago to 50 percent in 2019. A former recruiter for Facebook revealed the acceptance rates for job offers is down around 40 percent.

Nor is Goldberg the only reporter digging into the story. April Glaser wrote a deep dive into anti-big tech activism at Stanford for Slate last summer. She describes how various groups are warning classmates about the ethical lapses of potential employers, including handing out leaflets at career fairs. Others are nudging computer science grads towards more ethical gigs at non-profits.

A headache for Big Tech, an opportunity for others
For big tech all this is definitely a headache (and possibly a wakeup call). For smaller companies without the ethical entanglements of the industry’s biggest players, it’s an opportunity to win exceptional talent at slighting less eye-watering cost by framing your work as a force for good. Finally, for tech-savvy employees, the so-called “techlash” may represent a dawning realization of their own power.

“Tech companies can hire new cafeteria workers and gig economy drivers, but talented software engineers, security researchers, and mathematicians are in short supply,” Boing Boing points out. “They have incredible leverage over the Big Tech companies, and, as they start to build solidarity with their users and more easily replaced co-workers, they have it within their power to bring Big Tech to its knees.”

Tech billionaires are just getting richer

By Yusuf Khan for Business Insider US

Tech billionaires are leading the ultra-wealthy in growing their fortunes, according to a UBS report titled “The Billionaire Effect” released on Friday.

The Swiss bank found tech tycoons’ wealth grew 3.4% or $1.3 trillion (roughly R19.1 trillion) in 2018, and the number of tech billionaires nearly doubled from 76 to 148 in five years.

Billionaires have become a key policy issue in the US as Sen. Elizabeth Warren and other Democratic presidential candidates have proposed wealth taxes.

Tech billionaires are leading the ultra-wealthy in growing their fortunes, according to a UBS report titled “The Billionaire Effect” released on Friday.

UBS, one of the world’s largest wealth managers with roughly 1 000 billionaire clients, found tech tycoons’ wealth grew 3.4% or $1.3 trillion (roughly R19.1 trillion) in 2018, and the number of tech billionaires nearly doubled from 76 to 148 in five years.

The Swiss bank estimated the wealth of tech entrepreneurs like Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg almost doubled in the last five years – growing 91%.

“If tech billionaires’ wealth were a country, it would rank second only to the US,” the report said. “Looking back over five years, tech billionaires have driven almost a third of the growth in billionaire wealth. US tech billionaires accounted for more than half of that growth.”

Billionaires have become a key policy issue in the 2020 US presidential election with Sen. Elizabeth Warren and other democratic presidential candidates saying they would implement a tax on the ultra wealthy.

Warren has been criticised by billionaires such as Leon Cooperman for her proposed wealth tax of roughly 3% to 6%. Cooperman said she was “s——- on the American dream”.

Meanwhile, tech billionaires have come under fire for issues such as data protection and political advertising on their platforms. Zuckerberg – who’s worth $72.9-billion (roughly R1-trillion), according to Bloomberg – was recently grilled by Rep. Alexandria Ocasio-Cortez over Facebook’s sale of personal user data to third parties and policy of allowing false political adverts.

“I think there will be a change in behaviour [of billionaires] driven by the mainstream, with a reduction in risk appetite and I think there will be a reduction of output,” said Josef Stadler, head of UBS’ global ultra-high net worth department. “Whether that’s a good or bad thing I don’t know,”

Stadler made the comments at the report’s launch event in London, in response to a question about whether billionaires will be forced to clean up their acts.

The report highlighted that entrepreneurs who built software, the internet, and equipment are the wealthiest in the tech industry. However, fintech and multimedia have grown rapidly – 419% and 504% respectively in the past five years.

“Even so, pioneers of the future such as e-commerce, fintech, ride hailing, and data systems are making headway, as they stand to disrupt swathes of the global economy,” the report said.

“Banking today is already different today than it was five years go. You look at Revolut and Monzo and the newly developed systems and this will fuel new billionaires or at least millionaires,” said Marcel Tschanz, Swiss head of wealth management at PWC, at the event.

By Jeanny Yu for Bloomberg, Fin24 

China’s biggest online platform Tencent’s accelerating sell-off could get a lot worse if the stock fails to hold above its key support level.

There’s a risk that will happen Thursday: Asia’s biggest stock was down 0.6% in Hong Kong as of 1:03 p.m. local time, despite an otherwise upbeat stock market.

Tencent is now trading below the key level of HK$320 that supported its shares on three occasions this year. The stock has lost about 20% since a peak in April, equivalent to some $93 billion in market value.

Naspers, which via its new digital company Prosus owns a 31% stake in Tencent, is also feeling the pain. Both shares fell by more than 5% yesterday, losing R145 billion of their combined market value in a single day.

While the Tencent shares have been stuck in a downtrend for months, selling was particularly aggressive Wednesday despite no apparent trigger.

Theories circulating round some trading floors included souring sentiment from investors in China, as well as concern that Tencent’s decision to air National Basketball Association games may backfire.

Adding to jitters this week was a local media report that China is considering revising a law to control young people’s online gaming activities – a business that remains one of Tencent’s most profitable.

The Internet giant will report third quarter earnings on November 13.

Prosus, which is currently trading at around R1,020, has now lost almost 18% of its value since its listing in Amsterdam and on the JSE mid-September.

ACSA to spend R1.2bn digitising SA airports

Airports Company South Africa (ACSA) has set aside R1.2 billion to digitise the country’s airports, according to a recent article in ITWeb.

The announcement was made as the company released its financial results to 31 March.

Highlights include:

  • Profit fell by 58%, largely due to a 50% increase in security costs
  • R287-million was spent on data centre and network upgrades in 2018/19
  • The organisation says it has embarked on a five-year IT upgrade programme
  • The board has set aside R1.2-billion in capital expenditure to spend on IT infrastructure
  • Upgrades will focus on digitising local airports
  • R301-million will be spent on IT network optimisation
  • R142-million will go towards IT backup and storage solutions
  • R240-million will be spent on improving and upgrading the company’s physical IT infrastructure
  • Legacy equipment will be replaced
  • Paperless travel will require it to tightly integrate its passenger processing systems with databases residing with the Department of Home Affairs and Department of Transport, as well as with other airlines
  • Faster passenger processing will allow the retail component of the airport to generate more non-aeronautical revenue
  • A new mobile application will allow customers and passengers to interact with airports remotely

Image credit: ACSA

Shoprite launches standalone tech stores

Retailer Shoprite has launched new standalone tech stores, called K’nect, in an effort to make it easier for its customers to access services including global money transfers, mobile phone purchases, bill payments, tickets and insurance.

  • The first store was successfully launched at the Delft Mall in Cape Town in May 2019
  • Six new stores will open between end July and mid-August 2019
  • The stores will be located in Hatfield, Rosebank, Riverside Mall, Mmabatho, Watergate Mall and Illanga Mall
  • Stores include specialist tills for money transfers, tickets for travel and events, insurance and mobile devices and accessories
  • Express tills cater for quick transactions, including bill payments (accounts and bills), airtime and data (top-up and recharge), electricity purchases and Lotto ticket purchases

Image credit: MyBroadband

By Sean Hollister for The Verge

In 2014, The Verge reported how Google had effectively created its own island in Silicon Valley, something akin to a company town, exacerbating a housing and traffic crisis that now characterizes much of the San Francisco Bay Area — the place with the highest housing costs in the nation.

Now, Google CEO Sundar Pichai is announcing the company’s biggest commitment by far to fix its broken backyard: a $1 billion investment over the next 10 years to build some 20,000 units of housing.

According to the official Google blog post, the new commitment includes:

  • $750 million worth of the company’s existing office space, which Google will convert into an estimated 15,000 units
  • $250 million toward “incentives” for other developers to build 5,000 units of affordable housing
  • $50 million to nonprofits that help the homeless find shelter

That sounds good! But let me bring you down to reality with some more bullet points:

  • We were already expecting Google to free up as many as 9,850 units in its Mountain View backyard, with Google offering to build some 5,700 itself. (The company leases a lot of property, too.) Google tells The Verge that plan hasn’t yet been approved by the town, but whatever housing it builds in Mountain View is included in this total.
  • This is an investment, not a charity. Google says it’s leasing this land to developers who will rent and sell units — you know, for money — and won’t restrict what they do with it. That does mean no explicit preference to house Google employees, though, and cities will require a certain percentage to be affordable housing. Google proposed 20 percent affordable housing in Mountain View.
  • We’re not talking about single-family homes. Google simply doesn’t have enough office space for 15,000 traditional homes, so it’s going to need to build upward. Expect apartments and condos in multistory units.
  • We don’t know where they’ll be. Optimally, Google can help Bay Area traffic woes by building housing close to its big campuses, and that’s likely, but Google says they could be anywhere in the Bay Area it has office space. The details are up in the air as of today.
  • Google won’t be building 5,000 units of affordable housing itself. The $250M will help developers secure land and permits for affordable housing, incentivizing developers to build.
  • This is a 10-year commitment, all while Google keeps growing. In addition to its holdings in Mountain View, San Francisco, and generally across 24 of the 50 US states, the company’s planning a whole new giant campus in San Jose.

If you want more insight into the kind of relationship that Google believes it can have with the Bay Area, take a peek at the company’s pitch to transform North Bayshore (that’s the portion of Mountain View that Google primarily occupies) with housing, $77M for transportation, plus parks, schools, and more. There’s also a North Bayshore FAQ you might want to read — it explains why Google’s offering 5,700 units there, not 9,850.

But you also might want to think about how Google tried to use housing as a bargaining chip to get more Bay Area office space to begin with — and the damage that big companies like Google can cause if they wind up pulling out of a major infrastructure project early.

By Stephanie Butzer for The Denver Channel

Amazon will expand its Denver Tech Hub, creating 400 new high-tech jobs in fields like software and hardware engineering, cloud computing and advertising, the company announced Tuesday morning.

Amazon plans to open a new office in downtown Denver to accommodate the new positions. This comes in the wake of the company opening a new office in Boulder in the fall of 2018.

Colorado Gov. Jared Polis said he’s excited the company chose to add 400 new jobs here.

“We have a terrific workforce that continues to attract the ideas and businesses that thrive in a knowledge-based economy and we are a great place to do business,” he said. “Amazon’s current Colorado presence spans from distribution centers to robotics, corporate and operations. It’s wonderful to see their continued investment in our community.”

The new office, which will span 98,000 square feet, will be located in Invesco’s 1515 Wynkoop LEED Platinum building in Denver’s LoDo neighborhood.

Currently, Amazon has more than 350 employees in the Denver area and more than 3,500 full-time jobs in the state. It has invested more than $1.5 billion in the state since 2016.

Apple unveils credit card plans

By Nick Statt for The Verge

Among the most tangible announcements at Apple’s services event yesterday was also its most interesting: a credit card, aptly called the Apple Card, with both a physical and digital version that gives you up to 3 percent cash back. The product is, on the surface, a way for Apple to sell its brand on another everyday object you likely already own. But beneath the veneer of a titanium credit card with the Apple logo on it, the company is clearly charting out its post-iPhone future, one in which services reign supreme, by following a formula we’ve never quite seen it attempt before.

In this case, Apple has decided that it needs a traditional product, even one with the dubious moral baggage of a credit card, to promote Apple Pay. While the digital wallet and payment platform is growing fast, it’s still used by less than half of all global iPhone owners (and even less in the US). So just as Apple sees competing with Netflix and large cable companies as part of its future by creating its own TV shows and paying top dollar for Hollywood talent, the company no longer sees upending the status quo in payments as a viable path forward for Apple Pay.

“I think the strange optic here is that credit cards are not necessarily innovation in payments, even with better rates and loyalty,” says Rivka Gewirtz Little, a global research director at analyst firm IDC who specializes in payments. “So, to see a big tech firm, which hangs its hat on innovation, go such a traditional route – that’s what I think is a bit odd here. I’d like to see Apple get more innovative in transforming the way we pay.”

For years, as the iPhone has become ubiquitous and sales have started to slow, Apple has tried to emulate the paradigm-shifting success of the App Store and iTunes before it by barreling its way into TV and film, mobile payments, and news. But time and again over the last half-decade or so, Apple has run into the hard economic and logistic reality of trying to change industries that are far less malleable than mobile software and music.

And while Apple Pay may be a bold vision of the future, it’ll likely be years before contactless digital payments become truly mainstream in the US. In the meantime, Apple wants to sell you the benign and the boring — a credit card, a cable package, a magazine subscription — in hopes it can make its software and services as intrinsic a part of everyday life as its smartphone. Changing industries from the ground up is no longer Apple’s playbook, especially as it plays catch-up to companies like Netflix and Spotify.

Apple’s strategy mirrors that of Amazon. The e-commerce giant started out selling genuinely new and best-in-class products like the Kindle and then the AI-powered Echo speaker. But Amazon has since used the consumer goodwill it garnered and the power it wields over its digital storefront to sell you everything from microwaves and wall clocks to white label clothing brands, home supplies, and AmazonBasics-branded AA batteries.

Apple is doing the same, using the iPhone as the ultimate gateway to transform every iOS and Mac user into a series of multiple recurring revenue streams from products made first and in some cases made better by other companies, be it Apple Music, Apple News, iCloud, or the new TV app. Apple is stopping short of making its own version of Prime, in which all of these services could be bundled together, but the company appears to be taking its cues from Amazon’s subscription approach to further lock iPhone owners into a broader ecosystem.

With the Apple Card, the company is going one step further and trying to capture not just what you consume, but also the financial means you use to do so. Apple isn’t reinventing the wheel — the card, as reported by CNET, doesn’t have contactless capabilities like newer cards from competing banks, so you’ll need to slide it or input the chip into a reader to use it every time. Instead, Apple is giving users a no-frills credit card that’s a cleverly disguised way to juice Apple Pay adoption and usage.

Unlike the subscription services it plans to sell, the Apple Card comes with no annual fee, no late lees, and an interest rate supposedly lower than the industry average. On top of that, it has a pretty straightforward rewards program that incentivizes consumers to use Apple Pay to buy Apple products, for the most cash back at 3 percent thanks likely to the fact that Apple no longer has to hand over as high a processing fee as it does with a third-party card. If you have to use the physical Mastercard-branded card, you’ll get 1 percent back. (Granted, when it launches, the Apple Card will be one of the only cards on the market without a sign-up bonus, the primary incentivizing mechanism banks use to get people to open new lines of credit.)

To get customers to actually sign up, Apple is leaning heavily on its privacy-first approach. Effectively, Apple wants to be the only tech company you actually trust. Onstage yesterday, CEO Tim Cook said the card will not collect data on your transactions, and Apple will not let its partner bank, Goldman Sachs, sell any data to third parties. But of course that begs the question: how does it make money, and without those usual stipulations, is Apple not simply banking on users falling into debt and pocketing the insurance money they’re forced to pay for years to come?

The goal may not be to turn a profit, at least not on the service itself. It all comes back to Apple Pay. The reason Apple made a credit card in the first place is to spur adoption of Apple Pay, and to create a digital wallet that can be used not just in the real world, but also inside an iOS ecosystem that is increasingly being peppered with new, for-pay services.

“Mobile wallets are still a small section of the market, so it’s understandable there needs to be a big push if your aim is more adoption,” says Rasha Katabi, CEO and co-founder of credit card and digital payments startup Brim Financial. “As the adoption of e-commerce increases, and we’ve seen that at an exponential rate over the past few years, the relevance of having a physical card or lack thereof will track really closely to the adoption and migration from physical shopping to fully online shopping.”

The only online shopping Apple truly cares about happens within its ecosystem: in-app subscriptions for its new services, microtransactions in mobile games like Fortnite, Venmo-style peer-to-peer payments with Apple Cash, and purchasing of Apple hardware from within the Apple Store mobile app. All of this qualifies for the 3 percent cash back bonus, Apple confirmed to The Verge. And that arrangement sheds an interesting light on the entire Apple Card approach.

Through its incentives, Apple is creating a system where you’ll shop in the real world at Apple Pay partners for an extra cash back bonus, switch your App Store credit card to an Apple one with an even better bonus, and rely only on the physical card for when you absolutely have to. And all of it is underpinned by Apple’s privacy pledge and relatively solid security track record, as well as the luxury status symbol provided by an Apple-branded piece of titanium, with its number-less design that non-coincidentally makes it easy to gloat about on social media.

Tech trends for 2019

By Bernard Marr for Forbes

Every year, many of my clients ask me about the key technology trends that I believe will define the coming year. Here are my predictions of the tech trends that have the potential to make or break careers and businesses in 2019.

While some of these may seem obvious – no one will be surprised to hear that artificial intelligence (AI) and machine learning are likely to remain hot topics – the disruptive nature of tech means it’s likely we will get a few surprises.

Artificial intelligence everywhere

The year 2018 will be remembered as the year that artificial intelligence (AI) hit the mainstream, but in 2019 and beyond it’s going to be absolutely everywhere.

This is because hardware and software developers have passed the trial period – experimenting to see where AI fits, and where it can deliver the biggest improvements in customer experience and productivity improvements.

In many cases we won’t even know it’s there – as machine learning services work quietly in their clouds, managing everything from power networks to distribution logistics and financial transactions.

In other cases, it will be highly visible – as our smartphones, home assistants, kitchen gadgets and cars put increasingly sophisticated tools at our fingertips.

The AI we interact with day-to-day – whether it is Google search engines, Netflix recommendation engines or assistants like Alexa or Siri – will become increasingly ubiquitous as well as useful, as breakthroughs in deep learning and reinforcement learning lead to more capable and reliable services.

Rapid changes in healthcare delivery

Undoubtedly one of the most crucial and worthy applications of technology – expect machines to be credited with saving more lives in 2019.

With much of the world facing a shortage of trained medical professionals, and even rich nations feeling the bite due to economic pressures, technology is often hailed as a potential savior.

From AI systems capable of detecting cancer or heart attacks to the rollout of telemedicine allowing patients to be treated in their homes, perhaps no industry is pinning its hopes for the future so firmly on tech as healthcare is.

This year could be the year that their impact on patient outcomes and quality-of-life comes to the attention of the mainstream. With projects moving out of pilot phases and beginning to go into operational deployment, we will see technology costs coming down and more providers such as hospitals and clinics being able to cover the up-front cost.

At the same time, a growing awareness of personal data issues – particularly in developing countries where they have so far not been given much thought at all – will lead to growing concern over what is happening with all of the data that is being generated by these 21st-century solutions.

There will also be voices cautioning that when ill people are being examined remotely and diagnosed by machines, the “personal touch” which has long been an essential skill for doctors and nurses will be lost, and the long-term implications of this are far from certain.

You won’t hear as much about blockchain – but it’s far from dead

One “hot topic” on a lot of last years’ lists (including mine) was blockchain. This year, it is somewhat conspicuous by its absence.

A lot of this may be down to the slump in the price of cryptocurrency Bitcoin – still blockchain’s most public-facing application. However, reports that many private commercial or industrial blockchain initiatives are still failing to demonstrate much real-world value are also a factor.

Does this mean that blockchain is dead? I think it’s far too early to make that call. The fundamental principle of a distributed ledger, secured by encryption, providing an immutable record of transactional activity, still holds a tremendous amount of potential value.

Organizations may be struggling to see their way to building the most successful implementations, and in 2019 we may well see the folding of any number of previously highly-publicized attempts.

But innovation is still going on behind the scenes, and it is probable that less publicized but well thought-out initiatives may start to generate value. A rise in the value of Bitcoin (which has crashed just as spectacularly as it did this year in the past, before rising to ever-greater heights) would reinvigorate interest in the underlying tech, too -for better or worse.

Smart cities will become smarter

Residents of cities where investment has been made in environmental, utility management and transport infrastructure tech will start to see real benefits in their daily lives during 2019.

All of these infrastructure initiatives require one thing – beyond even money or innovation – to deliver real results, and that’s real data, gathered from real-world applications.

With many of these projects around the world beginning to mature, the volume of data will reach a critical mass meaning the impact on our lives – from cleaner air to cheaper energy and more efficient public services, can start to take effect.

Those that aren’t generating value by this point will be abandoned – in line with the “fail fast” ethos that drives tech development today. On the other hand, where pilots and trials in global showcase smart cities have been demonstrated beyond doubt, we can expect those initiatives to be adopted elsewhere quickly.

Global eSports revenues hit $1 billion

According to research from Deloitte, the market for eSports – video games played as a spectator sport – will expand by 35% in the next year.

The growth in the number of people wanting to watch professional video game players, particularly although not exclusively among the younger demographic, has already swept through Asian countries. Experts predict 2019 could be the year it hits the big time in the US, too.

Franchise rights, advertising, and broadcast agreements will drive spending as audiences get hooked on newly formed leagues, tapping into the fanbase for successful video game series such as Fifa, NBA, Fortnite, and Overwatch.

eSports have grown in popularity due to their existence at the convergence of several trends -notably changes in our leisure habits, with younger people watching less television and playing more games. And a move towards building online, social communities where fans interact and converse.

The elevation of professional game players to the level of professional athletes and sportspeople is a developing trend which is also likely to continue, with big money on offer for those who prove they can attract audiences to this entertainment.

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