Advancements in technology have transformed the way people live their daily lives in the 21st century and this trend is guaranteed to continue over the coming years.
Asia and the Middle East will likely be at the forefront of technological innovation as they strive to cement their status as global powerhouses.
China and Japan have long been the dominant technological forces in the region, but numerous other nations are working hard to grab a piece of the increasingly lucrative pie.
With that in mind, read on as we take a closer look at some of the key technology trends worth monitoring in Asia and the Middle East during the remainder of the decade.
Virtual Reality
Virtual reality (VR) technology seems to have been on the cusp of making a major breakthrough for many years now, but it now looks ready to cross into the mainstream.
The supporting headsets are finally delivering the immersive experiences developers have been promising, and numerous sectors will benefit.
These include the gaming industry, with VR technology forecast to take this global phenomenon to a completely different level in the next few years.
Travel, tourism, fitness, automotive, transport and healthcare are among a plethora of other industries who will be impacted by the VR revolution.
iGaming
The establishment of a long-awaited formal regulatory infrastructure for online gambling will herald a new dawn in several major Middle East nations.
YYY Casino is among the sites which already accept players located in the region, but the creation a new legislative landscape will help them gain a much stronger foothold.
The United Arab Emirates is leading the push towards embracing iGaming having agreed a deal with a casino operator to open a multi-billion-dollarland-based resort in 2027.
Many other jurisdictions have shown that brick and mortar venues benefit online sites and vice-versa, meaning YYY is well-placed to take advantage over the next few years.
Artificial Intelligence
Artificial intelligence (AI) technology is already widely used to enhance numerous functions such as customer support applications, marketing and data mining.
The arrival of ChatGPT was tipped to push AI even further into the mainstream, but it has not quite had the impact many experts initially forecast.
However, the technology undoubtedly has the potential to be transformative once developers fully get to grips with its true capabilities.
The financial sector may find this generative AI technology particularly useful in helping to streamline processes and work in harmony with other applications.
Blockchain
Many people remain wary about blockchain technology, particularly with regards to the bad publicity it has received in the cryptocurrency sector.
Despite this, several respected global financial institutions have been making great strides with blockchain to establish decentralised finance processes in wholesale funding markets.
Potential future uses for blockchain include trade financing, international payments, credit functions and the development of new digital currencies.
Cybersecurity is another promising area of projected future growth for blockchain, potentially helping to create a landscape where cybercriminals are largely eliminated.
Quantum Computing
Quantum computers have long been viewed as the holy grail in the technology industry, and there have been several major breakthroughs in recent years.
IBM announced its first commercial quantum computer for use outside of the laboratory a few years ago, while Google recently claimed it had achieved ‘quantum supremacy’.
While we are still a few years away from the launch of a commercial quantum computer, technology experts are clearly making massive strides in this area.
Finance, healthcare and transport are among the sectors that could be completely revolutionised by quantum computing once it becomes a viable commercial tool.
