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Internet Of Things Needs World Market Leaders, Interest Turns to Startups

Google and Microsoft dominate markets worldwide

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An employee displays ASUS’s new computer products during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, Tuesday, June 5, 2018. Computex will run in Taipei from June 5 to 9. VOA
An employee displays ASUS’s new computer products during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, Tuesday, June 5, 2018. Computex will run in Taipei from June 5 to 9. VOA

A surge in participation by startup companies this week, at a highlight of Asia’s biggest annual tech event, shows an increased reliance on young entrepreneurs and leaders to come with the IT industry’s strongest ideas for connected devices and artificial intelligence.

The InnoVEX segment of Taipei Computex 2018 brought together 388 startups, a term usually defined as founder-owned firms of three to five years old. That number is a jump from 272 at the same event a year ago. Venture capitalists, including at least one with half a billion dollars in investment funds, evaluated them one-on-one and at formal pitching events.

Startups are catching attention as inventors of Internet-of-things technology because there’s no market leader yet, said Jamie Lin, founding partner of AppWorks Ventures, a startup accelerator in Taipei. That technology refers to software and hardware that let computers or phones communicate with everyday devices such as cameras and alarm systems.

Some connections run on artificial intelligence, which means computerized processing of the data collected from those devices. That can mean making human-like decisions.

“Computers continue to morph and there are no dominant players in IoT,” Lin said. “That’s why they need startups and that’s what makes the show relevant.”

In software, by contrast, Google and Microsoft dominate markets worldwide. Apple and Samsung, among others, lead in smartphones.

Coinciding with the tech show this week, Lin’s accelerator, another like it and a Japanese venture capital firm are all holding their own events in Taipei this week for startups.

Visitors review new MSI computer products during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, June 5, 2018
Visitors review new MSI computer products during the Computex Taipei, one of the world’s largest IT expos, in Taipei, Taiwan, June 5, 2018, VOA

Expanding market

More than 20 billion things will be connected to the internet by 2020, up from 8.4 billion connected last year, market research firm Gartner forecasts. The number will pick up especially as 5G wireless services speed up connections.

By next year, Gartner anticipates, startup firms working with artificial intelligence will overtake Amazon, Google, Microsoft and IBM in “driving the artificial intelligence economy” for businesses.

Artificial intelligence, also known by its abbreviation AI, will reach a market value of $1.2 trillion per year by 2020 as investment triples between now and then, Forrester Research said.

“There’s a process, which is experimental — error and trial, error and trial – so there’s no one with a ready solution, and AI is so broad that one that can do it all,” said Tracy Tsai, a Gartner research VP in Taipei.

“With AI startups, they say ‘I’m focused, I just do some part of it and I do it well, and I do it attentively,’” she said. “For companies looking for a full solution, if you can show your part works, then they use it.”

Competitors perform speed tests using dry ice to cool hardware at OC World Record Stage 2018 during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, June 5, 2018.
Competitors perform speed tests using dry ice to cool hardware at OC World Record Stage 2018 during the Computex Taipei, one of the world’s largest IT expos, in Taipei, Taiwan, June 5, 2018.VOA

Venture capitalists watching

Venture capital firms at the three-day InnoVEX show Wednesday watched a spread of mostly Asian startups with software and hardware ideas focused largely on connected devices. Healthcare and the management of drones were among the fields that companies said they could help with AI.

The show offered chances for startups to pitch their ideas to venture capital firms and accelerators, which are programs that show young firms how to improve their businesses.

Startup promotion authorities from 13 countries, including France and the Netherlands, also scanned the exhibition hall for Asian firms that might complement their own.

Visitors review Thermaltake's MFC 2 2nd Place MOD during the Computex Taipei, one of the world's largest IT expos, in Taipei, Taiwan, June 5, 2018.
Visitors review Thermaltake’s MFC 2 2nd Place MOD during the Computex Taipei, one of the world’s largest IT expos, in Taipei, Taiwan, June 5, 2018. VOA

“What we care about the most is whether these startups or smaller firms have technology, so if it’s a just a business model only, they aren’t suitable for us,” said Amanda Liu, CEO of the Taiwan government-backed business accelerator StarFab. Her accelerator takes 10 to 15 of every 100 applicants. “They need to have products and their core competence must come from technology.”

Taiwanese firms are good at altering hardware specs, Liu said, and for technology ideal for businesses rather than individual consumers, Liu said. Taiwan positioned itself decades ago as a high-tech hardware manufacturing hub for much of the world.

Qara was one AI-dependent startup at InnoVEX. The 4-year-old South Korean developer with $1 million in venture capital funding uses an AI algorithm to predict the movement of stock and cryptocurrency markets. It has earned revenues of $1.5 million and reports a profit.

“Anyone can see the predictions powered by AI,” said Qara’s global CEO Katie Bomi Son. In terms of accuracy, she said, “Some are from 70, or between 70 to 90. Most of our information [comes] from the machine.”

Also read: Russia’s heavy hand to internet to block messaging app

Qara counts mostly companies as clients but it’s looking for a way to monetize the free app for common users. (VOA)

Next Story

Men Act Way Less Interested in Sex Than They Really Are, Suggests New Research

Or perhaps the strategy gives her more opportunity to assess the quality of the guy

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Men sometimes act way less interested in sex than they really are, perhaps because of the assumption that giving an impression of wanting to have sex with anyone, anytime, is definitely not what most women are looking for, suggests new research.

“Men who are overly eager do not come across as attractive,” said study co-author Leif Edward Ottesen Kennair, Professor at Norwegian University of Science and Technology.

The findings published in the journal Evolutionary Behavioral Sciences suggest men and women’s real intentions may be different from the signals they send each other.

For the study, researchers collected two rounds of data from students at NTNU. The survey included questions like when they last met with a potential sexual partner, and whether they eventually ended up having sex.

Researchers found women were much more likely to have sex if they thought the potential partner was attractive.

The most important factor in whether men had sex was how many sexual partners they have had previously. This could contribute to their being perceived as sexually attractive and available.

Birth rate increases after 9 months
Couple’s interest in sex may increase during Christmas as well. Wikimedia commons

“It’s really the same reason for both men and women — the man’s sex appeal — that decides whether they end up having sex,” Kennair said.

Men who reported being the most interested in having sex reduced their signals of interest more. Women, on the other hand, might pretend to be a little more interested than they actually are. “We think this may be to keep the man’s attention a little longer,” Kennair said.

Or perhaps the strategy gives her more opportunity to assess the quality of the guy.

Also Read- WhatsApp Users Spread Antivaccine Rumors in India

As long as the woman does not seem to be excluding the possibility of sex, men across the board are willing to spend time with her — and enabling her to check out whether he is a good choice.

“The exception to this general sex difference is when the woman is as interested as the man. In this case, women also pretend to show less interest,” Kennair said.

“Both men and women who are truly interested in a partner might be trying to ‘play it cool.’ In economic terms, it’s about supply and demand. (IANS)