Tuesday, November 12, 2024

👨🏿‍🚀TechCabal Daily – JP Morgan is in town

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Image Source: Empower Africa

I started writing this blurb in Dubai traffic at 8 PM, and it felt like a typical Monday night in Lagos.

As I returned to my hotel after a thrilling first day at GITEX, one of the world’s largest tech conferences, it was comforting to know that even the ‘City of Gold’ has its own traffic woes.

That’s enough musing about movement- or lack thereof.

When I said GITEX is one of the world’s largest tech conferences, I meant it literally. The event was happening concurrently in several locations—the World Trade Centre (WTC) and at least two buildings beside it and two buildings at the Dubai Harbour, about 30 minutes away from the WTC.

The venues were teeming with people—exhibitors, tech enthusiasts, policymakers, tech reporters, and investors from Europe, Asia, the Middle East, Africa, and America. It was a diverse crowd, but the excitement felt like a common language.

Enterprise technology providers like Cisco, Microsoft, and Huawei showcased AI technology, robotics and cloud computing.

There was an AI-powered cloning machine by Hewlett-Packard that could clone a person’s image and voice to create an avatar that can talk like a human. The set-up ranges from $200,000 to $2 million depending on the parameters.

There was also a self-checkout device that doesn’t require scanning the barcodes of items.

“The conferences were as exciting as the exhibition. My favourite panel discussion featured policymakers from Serbia, the Netherlands, and the UK discussing Europe’s tech ecosystem challenges. Their challenges mirrored those faced by Africa’s tech ecosystem.”

Local institutional investors, such as insurance companies and financial institutions, are risk-averse and view venture funding as ‘exotic,’ according to the panellists.

Additionally, a slow down in fuding and a low tolerance for failure among has led to a wave of startup closures. Restrictive regulations are hindering the creation and expansion of new technology and businesses.

Europe and Africa are confident they can leapfrog these challenges.

I am looking forward to the lineup at today’s event, especially

See you later, Habibi!



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