Knowledge Update

The accessibility and consolidation of retail sectors into offline and online platforms are triggering exceptional growth. On one hand, it’s an advantage for consumers who can use Omni channels for exploring and shopping. On the other hand, it’s a disadvantage for vendors to classify and implement strategies to satisfy the desires of consumers. The UAE scenario is no different story, and with digitization leap, the gap between online and offline shopping is plummeting. With internet infiltration rate as high as 99% and with 62% population rate of online shoppers (increase of 25% from 2017) in the UAE, the challenge of giving updated information is a daunting task. According to PwC Middle East 2017 report, 52% of consumers use social media to get an updated information about products. Another important aspect to consider is that companies are focusing on contents that need to be posted on these social media channels. Content creation for social media w.r.t. omni-channels, though pretty straightforward, gives updated information which leads to purchase.

Figure 1 is a proposed model for integration of omni-channels and content creation using social media:

As mentioned in the figure, for omni-channel presence, the first challenge is the selection of social media channels. Facebook, Instagram and YouTube are three effective channels used by companies.

• Facebook and Instagram– Companies use Facebook and Instagram for visual content in the form of images, infographics and videos as magnets for engagement. Facebook and Instagram are great sources of content consumers can really enjoy.
• YouTube– Consumers are going to YouTube to search for answers for queries and reviews of the products they’re interested in. Creating explainer videos and how-to's is one Omni channel tactic for searchers, and help boost search engine results page (SERP) rankings as well.

Secondly, once effective on social media, companies are drawing consumers to land on website and post reviews (after buying the product).

• Website Reviews - These reviews serve as first-hand experience of consumers who are ready to buy the product. Souq.com (now Amazon) and Namshi, and even stores like Carrefour are using website reviews to boost the sales.

Thirdly and most importantly is the generation of blog contents. Blog contents are used for both pre and post sales reviews and used by consumers as a key source of information. Social media sites also fall in this category, however, some companies are also websites (like Sitejabber, Medium or Tumblr) for review generation.

• Blog- Even though companies know that blog isn’t where most of your traffic comes, it is important to have informative and interesting content there. Blogs serve as an essential source to redirect consumers back to the website.
• Third-party blog sites– Companies use third-party blogs to extend its reach. Getting into third party blog sites such as Medium, Tumblr or Sitejabber is easy and a great idea to start with.

Satoshi Nakamoto is believed to have founded the first crypto currency Bitcoin, in the year 2004. No one knows the whereabouts of Mr. Satoshi so far. The reasons are clear. Now we find more than 1,000 crypto currencies in the world financial market although unregulated.  When this article is being published, the Bitcoin was traded in the CEX 10 (Bitcoin exchange) for $ 6,000.

The most important feature of these crypto currencies is that the transactions are completed without intermediaries. No banking or non-banking financial institution is involved. All transactions are settled faster without any hindrances whatsoever. The parties to the transactions need not reveal their names and need not pay any transfer fees or transaction cost. These are the two reasons which have given rise to the discovery, evolution and growth of the crypt currencies.

The success of any business depends on the model or the mantras. The mantra followed Need and speed and the Blue Ocean technology: the need of the investors or businesses is to settle the transactions smarter and faster and this is found in crypto currencies including Bitcoin. There was no transfer of funds by without involving banks but crypto currencies there are no intermediaries for the transfer of funds. The names of the parties are not revealed. Crypto currencies have entered an unregulated market using cloud computing which has no competitors.

The ledger accounts of the investors and customers in these crypto currencies transactions are maintained by miners (accountants) by using high speed processing computers. These miners have a huge reward for solving a puzzle in every transaction of the Bit coin.

The Bitcoins are stored in Digital wallet, which can be found in cloud or on the users’ computers. This wallet is nothing but the bank account of the individuals who transact in the crypto currencies.  The users of this Digital wallet can buy even a Pizza or anything using their public keys and private keys which are allotted to the users.

Small businesses generally prefer this system as no credit cards are required for the processing of the transactions.

The growth of Bitcoin from $ 1 to the $ 6,000 + or – is attributed to the Silk Road (on line black market) which needed a currency that could clear transactions without using banks. Even the closing of the borders of countries for legitimate business for various, has paved the way for business in these countries.

Calculation of the price of Bitcoin is done by CEX 10 (bit coin exchange) on the basis of the trade of the transactions. It has 100 million dollars market capitalization. Some of the international banks are trying to be a party of this block chain technology, which has a definite amount like the capital of the banks.

To invest one need not pay $ 6,000 dollars to buy one Bitcoin?  You can buy even a fraction of that provided the country you live in, allows such transactions.

Future of Bitcoin: In spite of the unprecedented growth of the Bitcoin, it can’t be stated that, one should invest or transact though the Bitcoin as many governments have not supported it although some of them did support. The governments of various countries including the UAE, have not appreciated this technology as it might encourage illegal transfer of money for illegal activities

Investing in Bitcoin is like betting a T-20 Cricket International match. Anyone can win right? The theory of risk and rewards applies to this technology as much as it applies in the regulated markets.

Article written by Ibrahim Abdelrahman Alkhayyal, MBA Student

Etisalat, headquartered in Abu Dhabi, is one of the largest corporations in the GCC. It provides all kinds of internet, mobile and Television packages. It has many firsts to its credit in GCC and in the world. It has the largest number of customers in UAE and provides widest coverage of 3G and 4G technologies. It also is the first corporation to 4G+LTE network. Moving ahead, it recently started focusing on 5G superfast networks. It tested the 5G through a trial and has been successful. The company claims it to be world’s fastest live trial of 5G. This technology is the next step in the high-speed mobile broadband services. The objective of 5G is provide customers with highly efficient, faster, cover more customers and cover more devices.  At the same, it maintains the lowest levels of carbon footprint and causes absolutely no harm to the environmental aspects. Introduction of 5G will impact TV, Media, Manufacturing, Healthcare, Telecommunications, Transportation, Infrastructure and education sectors (Schools, Colleges and Universities) which will in turn impact all the other dependent sectors.

Etisalat recently completed deployment of 5G and conducted a live trial of its pre-commercial 5G mobile technology using millimeter wave operating over e-band through 2GHz of bandwidth and a massive MIMO (Multiple Input, Multiple Output) technology. The live trial reached the highest speed of 71 Gbps, a global record in the industry.

The 5G technology enables the concept of ‘global computing’. Through this the user can access the services from multi platforms from any location and at any time. It provides a great facility to customers to use application simultaneously in many platforms at a time with high speed. The 5G technology also aids in developing smart cities and enables digitization of all user services. It is expected that this technology is also going to develop the ‘Internet of Things’ at revolutionary speed. The utility services provided by the government and all the other private services are going to have a total transformation due to this technology. Etisalat is going to be the first corporation to initiate and implement the 5G network in UAE by 2020. The proposed investment on the required infrastructure and other supporting activities is expected to be around AED 3 Billion. This investment will be distributed across activities like upgradation of mobile network, installation of robotics technology and artificial intelligence.

Therefore, to conclude, in the next couple of years, UAE is going to witness a dramatic impact of 5G technology on all kinds of services offered to the citizens which can be customized as per their requirement. In future, it will be very interesting to watch not only customers interacting with each but also all the ‘things’ interacting with each other. 5G of Etisalat will become a way of life in UAE. In addition to all this, 5G will enable reduction of pollution and expenditure on usage of paper-based transaction and services by providing energy efficiency and ease and comfort. The 5G technology also benefits higher level, quality conscious technology and management educational institutions like Skyline University. The university can become completely a digital university and offer wide variety of programs in the areas of Information Technology and Management at BBA and MBA levels and also BS(IT) level. This technology also helps in offering diploma courses in various fields like tourism and travel.

​London, Dec 1 (IANS) Researchers have developed a free, real-time epidemic visualisation and tracking platform that can be used to monitor outbreaks of Ebola, Zika and antibiotic-resistant microbes.

Dr Abdul Salam, Mohammed
Assistant professor, Skyline University College

E-governance, is the use of Information and Communication Technology (ICT) in all the business processes, with an objective of making government services available to address the needs of the general public. The basic purpose of e-governance is to simplify transactions between government, citizens and businesses with ease and effectiveness.

​Washington, June 22 (IANS) The US space agency has released its popular NASA app for a new platform - the fourth-generation Apple TV - that will provide you access to NASA TV on your TV as well live views from the International Space Station (ISS).

​New Delhi, June 21 (IANS) After conducting a test comparing leading web browsers, tech giant Microsoft revealed on Tuesday that its browser Microsoft Edge is the most power-efficient browser on Windows 10.

New York, June 21 (IANS) Researchers from US-based Rice University have developed a technology that not only allows several devices to see what their owners see but also keep track of what they need to remember.

​New York, June 19 (IANS) A study, involving an Indian-origin researcher, has found that if people construct their robot themselves, they tend to get a more positive perception of their creation.

​New York, June 19 (IANS) A team of scientists from the US has created the world's first microchip that has 1,000 processors and is thought to be the fastest chip designed in a university lab.