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Living on the Edge: Why 5G Isn’t the Solution We’re Looking for in the Development of AR Glasses – ReadWrite



AR Glasses

Enter the new world of 5G technology. Revolutionary, from ultra-fast download speeds to increased network availability. Using the cloud, AI will become smarter and provide an online experience that customers will be flocking for. This is, therefore, a technological revolution that is going to change the digital world as we know it.

But how will this affect Augmented Reality? AR is constantly evolving to improve user experience. Using AR-powered smart glasses, consumers are now able to enhance their physical surroundings. Making it easy to create virtual overlays for both marketing, gaming, and business-enhancing purposes.

As both technological advancements continue to evolve, the question is, how powerful could their crossover be? The power of augmented reality infused with the introduction of 5G could revolutionize consumer marketing. This said, could augmented reality be living on the edge as we embrace the new powers of 5G? Developers of AR smart glasses are reluctant to embrace the 5G solution in fear that the crossover could do more harm than good to an ever-changing industry.

What is 5G?

As the new and improved version of 4G, the rise of 5G technology is on the horizon. With the Global 5th generation mobile network adoption set to triple in 2021, it’s no surprise that tech gurus can’t stop talking about its phenomenal capabilities.

Designed to connect the globe, 5G will take power in virtually connecting everything from machines to objects and devices. With a high real-time performance rate, 5G can break through the barriers current technology is facing. Forget loading bars and frozen web pages, 5G is here to connect you no matter where you are.

In a worldwide rollout alongside other new technologies such as Wi-Fi 6 and Millimeter-Wave, 5G ensures a wireless performance that will struggle to match efficiency and reliability.

According to ReadWrite, 5G users will see a magnificent comparison to their 4G counterparts, with higher multi-Gbps data speeds, increased network capability, and the ability to handle larger amounts of data than any other network design.

This performance leap will continue to change the way both smartphones and their apps are designed. The ability for high-real time performances will rewrite the barriers associated with app production. One of the apps in question is XR (Extended Reality). This is where AR and VR come into the picture. We will see developers given more free reign to create more engaging virtual realities powered by the speed of 5G. We could see AR and VR markets soar alongside new technological developments, transforming the landscape of digital marketing as we know it.

How Will This Affect the AR Industry?

5G is going to transform the AR consumer market. As an industry with engagement rates already exceeding the 40% that experts predicted, this next generation of networks is only set to increase that number.

From marketing to game platform growth, brands are continuing to jump at the chance to include augmented reality in their marketing strategies. From real estate to fashion, AR is revolutionizing the consumer landscape. Since the introduction of Web AR, first designed in the early 1990s, company leaders have flocked towards targetting a future digital native generation. This said, 4G networks have often posed as barriers for AR success. This is especially due to slower download speeds impacting real-time orientated campaigns.

AR Infused Marketing

5G is going to change this with ultra-fast downloading speeds that marketers can trust in real-time. In the past, any AR or VR experience with over 20Mb of data has put too much pressure on a 4G network. As 5G continues to diminish the restraints on big data downloads, this new technological transition could provide endless opportunities for new AR marketing.

Imagine changing real-time as consumers once knew it with a partnership of AR-powered eyewear and the impacts of 5G. Together, this technology opens doors for real-time editing. Consumers can shop with added intelligence to aid sales representatives.

An example by Qualcomm suggested that virtual billboards could become the new normal. Presenting the idea of a woman viewing a styled look on a mannequin, they suggest that with the help of AR infused eyewear, and the powerful capabilities of a 5G network, the model could turn into the woman herself, allowing her to picture the clothing on her own body in real-time.

The sales techniques are endless, which is just the start of a digitalized future across the high street. But the question is, is everyone ready for this change?

Why 5G Might Not Be The Solution For AR Developers

For AR eyewear developers, 5G may not be the solution to the problem. Yes, marketing opportunities are infinite when paired with this new efficient network. But ultimately, downloading speeds may not be the issue for this industry.

The problem arising within both the virtual reality and augmented reality community is the lack of adaptability surrounding eyewear styles and production. For high tech gaming and real-time business technology, headsets and AR eyewear are a superficial factor that isn’t currently contributing to their success; however, large, bulky frames may not work for the rest of the population on the high street.

For 5G infused eyewear to take off, smaller and understated styles need to head into play. AR needs to assist daily needs such as UV and blue light protection. Some developers have suggested that attractive lenses are the next step towards worldwide success. We need to see interactive eyewear for a new digital population that looks no different from our common spectacle.

As the future of 5G sits on the horizon, it’s back to the drawing board for many AR developers. However, there is no doubt that when AR eyewear and 5G do eventually merge, the digital possibilities will be endless for the entire global market.

Image Credit: tima miroshnichenko; pexels; thank you!


Fintech Kennek raises $12.5M seed round to digitize lending



Google eyed for $2 billion Anthropic deal after major Amazon play

London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs



Deanna Ritchie

As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations



Deanna Ritchie

As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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