Page 55 - SAMENA Trends - January 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Augmented Reality and Virtual Reality to Add US$4.1 Billion to UAE Economy

by 2030

by 2030, boosting the country’s gross domestic product by 1 per cent,
according to a new study by consultancy PwC. AR and VR will also have a
significant impact on employment in the UAE, helping to create more than
42,000 jobs in the country over the next ten years. “AR and VR technologies
will improve how organizations in the country operate, make for a seamless
transition to more effective processes… educate people more effectively
and generate incredible user experiences,” said Ali Al Hosseini, chief digital
officer at PwC Middle East. Globally, AR and VR are expected to contribute
$1.5 trillion to the economy by 2030, PwC said. Finland ($7.8bn), Germany
($103.6bn) and the UK ($69.3bn) are set to see the biggest impact from
AR and VR on their economies, with the technology adding 2.64 per cent,
2.46 per cent and 2.44 per cent respectively to their GDP by 2030. The UAE
will see a 0.95 per cent increase in GDP from AR and VR by 2030, the study
said. AR enhances real world situations using digital capabilities. It also lets
users interact with other people while accessing digital information, such
as reading text messages and operating navigation apps. In VR, users wear
headsets with high-resolution lenses. It is currently used for gaming and
immersive video, offering users an experience that is different from the real or
physical world. Tech companies are investing heavily in these sectors. Apple
has about 1,000 engineers developing products based on these technologies
and aims to release a combined AR and VR headset with a focus on gaming,
video and virtual meetings within the next couple of years. “AR and VR are
transforming the world we live in and we have only seen a fraction of what is
possible,” said Richard Boxshall, senior economist at PwC Middle East. In the
Augmented reality and virtual reality will together UAE, these technologies can deliver experiences “unlike any other and will
pump $4.1 billion (Dh15.05bn) into the UAE economy make businesses thrive with the right adoption”, said Mr Boxshall.

Bangladesh to Export Bandwidth to Nepal

Bangladesh Submarine Cable Company finalizing the deal we will also have to sign bandwidth from Bangladesh anymore
(BSCCL) is looking for new markets to a tripartite agreement.” Nepal now buys and will suspend its deal next month.
export its huge unused bandwidth and bandwidth from Chennai in India and China Bandwidth export to Tripura had begun on
the new destination is Nepal, said officials to meet its daily demand for about 250 February 8, 2016. Initially, the price was
of the state-owned listed firm. The lone Gbps, but due to its remote location high- $10 per Mbps and BSCCL earned Tk 9.6
submarine cable company of Bangladesh speed internet cannot be ensured, Rahman crore in the first year. Later, the price was
is now in talks with Nepal Telecom to said. The BSCCL’s second undersea cable revised down twice to bring it to $6 per
export about 100 gigabits per second lands in Kuakata of Patuakhali, which is Mbps. Still, BSNL has been unable to pay
(Gbps) of bandwidth. A memorandum of closer to Nepal. “This is why Nepal has dues since September 2018. The Indian
understanding will be signed within a short come to us,” he added. Bangladesh has company owes Tk 6.39 crore to BSCCL,
time, Mashiur Rahman, managing director 2,600 Gbps bandwidth capacity from two which is no closer to recouping the dues.
of the BSCCL, told The Daily Star recently. submarine cables, but only 900 Gbps Rahman, however, said some other remote
“Discussions have been ongoing for a long is consumed locally. BSCCL is working Indian states are eager to buy bandwidth
time and now we are ready to ink the deal,” to get its third undersea cable by 2023, from them. Bangladesh earlier had taken
said Rahman. As Bangladesh has access which alone will add another 7,200 Gbps. an initiative to export bandwidth to Bhutan,
to the landlocked Himalayan nation only BSCCL is currently exporting 10 Gbps of another landlocked neighbor, but the plan
via India, BSCCL and Nepal Telecom have bandwidth to India’s northeastern state did not come to fruition as India did not
approached an Indian company, which of Tripura though their state-run telecom join in. BSCCL’s shares closed at Tk 100 on
has expressed willingness to establish company Bharat Sanchar Nigam Ltd the Dhaka Stock Exchange yesterday, up
the connection, he said. “So, before (BSNL). But BSNL does not afford internet 7.53 per cent from the previous day.

55 JANUARY 2020