Latest news with #digitalisation
Khaleej Times
2 days ago
- Automotive
- Khaleej Times
The data-driven city: Revolutionising urban transport
One of the biggest breakthroughs in the future of urban living is the integration of the Internet of Things and infrastructure to form smart cities. Urban life, as we know it, would not be possible without the digital revolution. Now cities are not only defined by their buildings and streets but by the flow of data that connects them all. The role of digitalisation and data in transport is pivotal in creating the smart, efficient urban environments we all strive for. Our current infrastructure often operates in silos — transport, power, and water systems functioning independently. However, the city of the future we envision is integrated, and information flows seamlessly between these systems, creating a sustainable, adaptive, and tailored urban environment. In today's interconnected world, it is critical to treat virtual and digital assets with the same importance as their physical counterparts. We already recognise the importance of ensuring the physical foundations of a building are designed correctly, are robust and can support the physical assets. The same goes for the data and digital infrastructure which should be designed to be robust to support the digital needs of the asset. Traditionally, transport infrastructure was designed and operated in isolation. Roads, railways, and transit systems were built for capacity but lacked integration and real-time adaptability. Maintenance was reactive, and flexibility was challenging. However, the digital revolution is transforming how we design, operate and maintain these systems. With data at the core, infrastructure is increasingly becoming interconnected, predictive, and dynamic. Digital tools enable real-time traffic management, smarter maintenance, and optimized resource use. For example, Dubai's roads are monitored by an Advanced Traffic Management System which includes a network of CCTV cameras, vehicle traffic counting stations, and roadside Bluetooth sensors to detect passing mobile phones and vehicles. In addition, around 10,000 Dubai taxis are fitted with transponders which transmit the speed and location of the taxi at all times. This collective data is used to help traffic operators understand traffic speed, volumes and the likelihood of incidents across the city. All this information is then combined into a data fusion model ensuring the input is harmonized, normalized and any conflicts are resolved. The recently established Dubai Intelligent Traffic Systems Center (DITSC), developed collaboratively by Parsons and the Roads and Transport Authority (RTA), leverages technology to improve incident monitoring and traffic flow. It also lays the groundwork for future mobility options, including connected and autonomous vehicles, and can adapt to changing mobility preferences. As urban development increasingly relies on data, it becomes essential to meticulously monitor and secure this information and our networks. Advanced analytics, machine learning algorithms, and artificial intelligence (AI) are increasingly being deployed to safeguard critical infrastructure. These tools identify potential vulnerabilities and respond to cyber threats in real-time, addressing the needs of an increasingly digital transportation space. When applied correctly, AI can transform how we access, operate and maintain our transport systems. At its core however, AI is only as powerful as the data that informs it. To unlock the most value, we need to look at how we structure, connect, and make data accessible. One of the most practical and impactful applications of AI is predictive maintenance. By leveraging structured data, machine learning and advanced analytics, we can shift from reactive fixes to proactive interventions. Predictive tools are not only used to improve the efficiency and safety of operations but are increasingly commonplace in asset management and maintenance activities. RTA's Rail Infrastructure Maintenance Management System (RIMMS) improves the existing maintenance methods, analyzes cost during the asset's lifespan, and adopts more systematic inspection procedures. It also helps establish a basis for performing comprehensive analysis of the rail infrastructure asset management - confirming that focused investments can be leveraged to meet current and future maintenance needs of the Dubai Metro and Tram System. The role data plays in our mobility networks starts right from project inception. As a transport project evolves, so does the data that underpins it. During the initial design phase, geospatial and survey data are crucial for planning purposes and to understand the concept in context with the area. Progressing into design, data is generated for each asset with attributes including material type, quality and quantity, cost and embodied carbon. Once the asset is built, we move into the operation and maintenance phase, where the static asset data developed during design is augmented with operational data. This enables the asset to be operated efficiently and provides the basis for functionality such asset performance assessments and analytics to predict potential failure. To navigate this complex lifecycle, a robust data architecture needs to be considered, often referred to as the 'Golden Thread of Data'. This approach recognizes the importance of data relationships from concept through to operation to enable a seamless integration throughout the project lifecycle. One example where this approach is being applied is in Saudi Arabia in a project to create a futuristic city, greatly enhanced by technology and underpinned by the creation of an environment where data is shared frictionlessly between systems, assets and industry sectors. Recognising the importance of data in our mobility networks is a fundamental necessity. It provides operational insights that are crucial for modern urban living. With the right approach to data, we can ensure that our cities are interconnected, operationally efficient, and intelligent, ultimately serving the needs of all citizens and ushering a smarter, more sustainable future. The writer is Technical Director –Digital Solutions at Parsons.
Yahoo
2 days ago
- Politics
- Yahoo
New approaches needed to address accelerating digital change, say panellists
SINGAPORE – Countries must find bold new ways to better manage their societies as they get continually transformed by technologies such as artificial intelligence (AI), a group of eminent speakers urged on June 25. The need for agile and consultative governance is pressing as the benefits of digitalisation have unfortunately come at a considerable cost, such as the rise of digital echo chambers that feed prejudice and the propagation of extremist ideologies, said Perak Sultan Nazrin Shah. Delivering the keynote speech on the second day of the annual International Conference of Cohesive Societies, the Sultan said digital transformation of society is one of three interlocking factors that have fuelled uncertainty and challenged social cohesion. 'Our digital spaces, which should be so good at opening doors and minds, are instead responsible for closing them,' he said. 'The very technologies that promise inclusion can entrench exclusion (while) our information ecosystems have become battlegrounds.' The other two factors he cited are the unprecedented pace of international migration due to reasons such as climate change and political instability, and the rise in populism and protectionism caused by the unequal outcomes of globalisation. At a discussion following the keynote, former civil service head Peter Ho noted how social media has dramatically weakened the ability of governments to regulate information flows, and that misinformation is outpacing the ability of states to correct it and control its impact. He referenced a stabbing incident in Britain that claimed the lives of three young girls in 2024. Far-right groups had stoked speculation online that the suspect was a Muslim migrant, despite the police clarifying that the attacker was born in Britain. This led to targeted attacks on the Muslim community, including a local mosque. Riots also erupted in 27 towns. The incident highlighted the jurisdictional limitations countries have in regulating social media platforms with a global reach, said Mr Ho, who is now a senior adviser at the Centre for Strategic Futures think-tank. It is a fool's errand to think that governments alone can regulate technology that is changing so fast and impacting society, he added. Fellow panellist Fadi Chehade, managing partner at investment firm Ethos Capital, sketched out three ways in which AI will only accelerate the reconfiguring of societies. On the point of echo chambers, he noted that AI will only result in further hyper personalisation of digital content, which could further atomise communities. The advent of AI also promises to multiply by millions of times the amount of misinformation that will be created, said the former president and chief executive of the Internet Corporation for Assigned Names and Numbers, a non-profit that coordinates the administration of the web's protocols. Lastly, the years ahead will see AI agents created at a pace that outnumbers the population of humans on the planet, dissolving the line separating the real world from cyberspace, he added. 'That's the world we're getting into, and I don't think any of us – or any government, or any one institution – has the power to slow down the hybrid world we're about to get into,' he said. But rather than look at the future with gloom, the experts outlined ways in which countries can adapt to deal with the gathering pace of change. Panellist Ahmed Aboutaleb, the former mayor of Rotterdam, recounted his experience building trust between government institutions and citizens, which involved the time-tested approach of spending many evenings and hours engaging in face-to-face dialogue to understand people's needs and concerns. 'What people like is that the man or the woman in power gets to the level of the streets,' he said. Mr Ho called for governments to have the humility to know they need to work closely with the private sector and the people sector, as it is through this 'triangular relationship' that trust can be built up and consensus reached to tackle complex problems such as those brought about by technology. Agreeing, Mr Chehade said these three groups working together can create a better form of multi-stakeholder governance. This is as the private sector would have to act within checks and balances, governments would not be imposing regulations that are out of sync with the digital world and civil society and people will have their voices heard, he said. He also called for the legal concept of subsidiarity to apply to the governance of the digital world, meaning that regulations are shaped by each community based on its prevailing cultural norms, rather than for there to be universal standards imposed by distant authorities or bodies. Sultan Nazrin said the temptation during times of such upheaval would be to look to familiar ways of doing things, but that doing so would be a mistake. 'There is a temptation to retreat – to retreat into narrower circles of identity, to hoard privileges and to romanticise a past that, if we are honest and stripped away nostalgia, never was,' he said. Instead, he called for courage and clarity, which in the face of uncertainty 'can become a valuable compass and a crucible for renewal'. Quoting the philosopher Aristotle and singer Dolly Parton, the Sultan said: 'You cannot change the wind, but you can adjust the sails.' Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Yahoo
2 days ago
- Business
- Yahoo
LGT ties up with iCapital to digitise alternative investment offerings
LGT, a Liechtenstein-based private bank, has collaborated with iCapital to digitise its alternative investment portfolio. The alliance has resulted in the development of a technology platform, which integrates directly with LGT's banking systems. This offers tools for relationship managers, investment advisors, and operations teams to oversee the full spectrum of the alternative investment process. It includes functionalities for marketing, document management, and detailed reporting and analytics tailored to client needs. Following its initial introduction in Europe, the platform has expanded its reach globally. LGT Group products & services management business area head Christian Buchli said: 'What began as an internal intrapreneurial initiative to digitalise the private markets value chain has now evolved into a globally deployed platform. The platform empowers our colleagues and clients with unparalleled insights into their private markets portfolios, setting a new standard for innovation and efficiency in this space.' iCapital international head Marco Bizzozero stated: 'LGT's deep expertise in wealth management and its commitment to innovation and delivering efficient, technology-driven alternative investment solutions for its advisors and their clients is at the forefront of our collaboration. 'This partnership further underlines wealth managers' trust in iCapital, highlighting their broader commitment to expand access to private markets through a fully digital and streamlined investment experience for advisors and their clients.' This announcement follows iCapital's acquisition of Citi Global Alternatives, an indirect subsidiary of Citi. The subsidiary advises Citi Wealth's global alternative investment fund platform, which manages a suite of over 180 alternative funds globally. With a workforce exceeding 6000, LGT operates out of more than 30 international locations spanning Europe, Asia, the Americas, Australia, and the Middle East. "LGT ties up with iCapital to digitise alternative investment offerings " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malay Mail
2 days ago
- Business
- Malay Mail
My50 pass renewal to go fully digital via Touch ‘n Go eWallet from July 1
KUALA LUMPUR, June 26 — Transport Minister Anthony Loke has announced that starting July 1, all My50 unlimited travel pass users, both existing and new, can renew and use their passes digitally through the Touch 'n Go (TnG) eWallet app. Loke said the digitisation of the My50 pass aims to streamline the renewal process and reduce congestion at Rapid KL service counters. 'With this digitalisation, users can verify their Malaysian citizenship through the electronic Know Your Customer (eKYC) process and renew their My50 passes directly in the TnG eWallet using a TnG card equipped with NFC functionality, without needing to present their MyKad,' he said at a press conference on the My50 Pass digitalisation here today. Loke said the new feature is expected to eliminate long queues and enhance passenger convenience. He noted that each renewal at Rapid KL counters typically takes two to three minutes per person, often resulting in long wait times. A RapidKL staff demonstrates the digitalised MY50 pass on her mobile device at Dang Wangi LRT Station, Kuala Lumpur. — Picture by Raymond Manuel 'Imagine if there are 15 people in the queue; the wait time could reach up to 45 minutes. That's why I constantly receive complaints about long queues at stations like KLCC, Pasar Seni, KL Sentral, and other major locations,' Loke said. The new feature in the TnG eWallet app allows users to renew their My50 travel pass directly through the app and provides a monthly summary of travel activity. 'We have introduced a new feature in the TnG eWallet app that allows users to conveniently renew their My50 travel pass directly through the application. 'In addition, another feature enables users to track their travel patterns throughout the month, including the stations where they tap in and tap out, as well as their daily travel routes and destinations,' he said. Loke added that several security features have been integrated into the eKYC process to verify users' identities, including facial recognition, identification card validation, and personal detail checks. 'For most individuals, this process can typically be completed within a day. However, for politically exposed persons (PEPs), it may take up to a week due to additional verification steps,' he said. 'These measures are necessary to ensure data authenticity, safeguard user information, and prevent misuse. 'All user data remains under the control of the eWallet application and is protected under the Personal Data Protection Act. The data is not shared directly with Prasarana but is used in aggregate form to analyse passenger flow and station demand,' Loke added. For users who are not proficient with technology or have limited access, the option to renew the pass at service counters using their MyKad will remain available. He stressed that the authorities are not enforcing a drastic transition but are instead providing an additional option to offer greater flexibility to users. Loke also revealed that Prasarana plans to expand this digitalisation initiative to other products, such as the MyCity and MyTour passes, in the near future.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Engineering the Future with AI
"The biggest challenge isn't just deploying AI, it's embedding it into complex workflows while ensuring compliance, traceability, and IP protection," says K. A. Prabhakaran, Senior Vice President and Chief Technology Officer, Cyient Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a rapidly evolving industrial landscape, where the boundaries of design, manufacturing, and aftersales are increasingly blurred by digitalisation, Indian multinational Cyient is placing intelligent engineering at the heart of transformation. Established in 1991 and now employing over 17,000 people globally, Cyient has evolved into a leader in blending deep domain expertise with next-generation technologies like Artificial Intelligence (AI), Generative AI (GenAI), and simulation tools to drive industry-wide innovation. "Our technology portfolio is designed to embed intelligence across the product, plant, and asset lifecycle," shares K. A. Prabhakaran, Senior Vice President and Chief Technology Officer, Cyient. "We are using AI to accelerate design cycles, optimise manufacturing, increase supply chain visibility, and drive predictive maintenance and aftermarket intelligence." From aerospace and railways to energy, healthcare, and telecom, Cyient's technology is delivering measurable outcomes. Their AI- powered tools have shortened product development timelines, improved asset uptime, and enhanced customer service through GenAI- driven diagnostics and contextual assistants. In telecommunications, Cyient automates network planning and fibre deployments, while in healthcare, their CyNet platform aids in precise fetal diagnostics. One notable case is the company's Plant Advisor solution, which has demonstrated a 67 per cent accuracy in recommending efficiency improvements, underscoring the real-world value of AI in operational environments. What keeps Cyient ahead in the game is its strong culture of learning, strategic partnerships, and co-innovation with customers. "We've trained over 5,000 associates in AI, cloud, and platform technologies," says Prabhakaran. "Our Centres of Excellence, especially the GenAI CoE, serve as catalysts for continuous innovation." Cyient's collabration with Microsoft under the 'EnGeneer' initiative is another step forward in transforming engineering lifecycles through AI-led automation. The company also actively engages with analyst communities and customers to align its offerings with evolving market needs. Yet, integrating AI into traditional engineering ecosystems isn't without its hurdles especially in highly regulated sectors like aerospace and healthcare. "The biggest challenge isn't just deploying AI, it's embedding it into complex workflows while ensuring compliance, traceability, and IP protection," explains Prabhakaran. To tackle this, Cyient has established a robust governance framework that includes human- in-the-loop systems, modular deployments for secure data handling, and domain-specific validation gates. "It's this precision and rigour that makes our AI trustworthy and acts as a natural barrier to entry for others," he concludes.
