DECEMBER 202319GEN Z LIFESTYLE DRIVING DEMAND IN THE NEW DIGITAL WORLD ORDER that by 2023, India will surpass the USA to become the second-largest wearables market globally, behind only the People's Republic of China. The government-led initiatives like Make in India and the subsequent schemes that were launched to favour investments in the country have given an impetus to local manufacturing. This is expected to facilitate large-scale collaboration between global vendors and Indian ODMs, leading to greater levels of innovation and economy of scale.Modern technologies play a lead role in moulding the smart devices segment. The combination of Internet of Things (IoT) and Artificial intelligence (AI)/ Machine Learning (ML) deliver several capabilities that can enhance the overall experience of users. Most importantly, the AI/ML algorithm makes these devices highly automated, thus eliminating manual programming routines. With this, they are even capable of predicting the user's behaviour and performing the required tasks without the need for direct commands. As the demand evolves for greater performance and attractive features, device makers are focused on delivering innovative features supported by advanced technologies. For example, smart watches are now equipped with bigger screens, AMOLED display, e-Sim connectivity and NFC enabled for payment. Voice assistants are growing smarter by incorporating Natural Language Processing (NLP) along with Sentiment Analysis to generate conversational AI capabilities and make conversations more meaningful and intelligent.Many smartwatches today are equipped with AI/ML to deliver real-time monitoring of health parameters, enabling users to make quick decisions about their health conditions. The advanced analytics supported by AI/ML helps healthcare providers identify the underlying issue and adopt quick measures. Voice assistants fitted with AI can perform analyses on aspects like energy consumption at home/office, sleep patterns of the members, security vulnerabilities, shopping trends, and many more. AI/ML advancements are expected to revolutionize the smart devices segment, with myriads of applications in smart homes.Focus on the ChipWith chipsets forming the foundation of these devices, chipmakers are pursuing innovations and engaging with OEMs to power more devices that can take advantage of the latest technologies. MediaTek has been leading the innovations in smart devices by developing powerful, highly integrated and efficient system-on-chip products. We are also enabling the future of AI by creating an ecosystem of Edge-AI hardware processing coupled withenhanced software tools across the entire product range - smartphones to smart homes, wearables, IoT and connected cars.As chipmakers strive to build smarter and more intelligent technologies that empower generations to break all the barriers and pursue their goals with power and intelligence, the Gen Z is finding their demands met even before they conceive the next frontier. Today, banks are increasingly using data and drawing insights by using data analytical tools and capabilities
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