DUBAI, UAE / ACCESSWIRE / August 16, 2017 / Technology has changed the world for good, with new ideas, inventions, and simplification methods constantly improving business operations. The emergence of new technologies from research and development (R&D) to consumer applications and production processes is known as technology transfer, recognized by both governments and corporations as critically important for driving economic growth on a global scale. The managing director of Emirates Consolidated Investments, Shaun G. Morgan firmly believes in technology transfer as the key to spurring investments for the benefit of nations and industries worldwide.
Through licensing agreements, joint ventures, corporate spin-offs, and partnerships, revolutionary technologies can enter commercial exploitation. The commercialization of innovative solutions is essential for economic growth, both at the local and global levels, as it drives business investment, helps create jobs, and improves public services such as healthcare and transportation. As Shaun G. Morgan points out, technology transfer is taking place in a broader context, most notably in the local adaptation of new business models and the concerted effort of global tech giants to promote R&D and knowledge sharing. One example is the impact of China on mobile technology innovation. Using chat apps to scan QR codes, hail a taxi, order food, make payments, or stream video content was popular in China long before Facebook, Twitter, and Snapchat began implementing such features into their messengers.
While some business models cannot be directly transplanted, Western technology companies are increasingly borrowing ideas from their Chinese peers. Meanwhile, the Big Five of US tech - Google, Amazon, Apple, Facebook, and Microsoft - are investing heavily in R&D, especially in artificial intelligence (AI). Based on information provided in their earnings reports, the quintet are collectively set to pour more than USD $60 billion into R&D initiatives in 2017. More importantly, they realize that advances in areas such as autonomous cars and medical technology have the potential to transform industries and society as a whole. For this reason, the companies are not keeping their findings under wraps, choosing instead to publish regular reports and give third parties access to newest AI technologies. At the same time, they are urging the US government to increase R&D spending. According to Eric Schmidt, executive chairman of Google parent Alphabet, federal funding is the reason America has benefited from what he calls a "miracle machine" - a public-private partnership responsible for launching multiple new industries that revolve around computers, biotechnology, energy, and communications. Government participation is also critical for ensuring that any new technologies become widely accessible and create economic opportunities for all.
Shaun G. Morgan has worked in the investment banking industry for over 20 years, and his expertise is now utilized by UAE governments and members of Saudi Arabia's royal family. He has been a leading shareholder in several companies, most recently launching a China-based cryptocurrency network called Sinocoin to rival Bitcoin and other digital currencies. He also serves as CEO of SG Morgan Investment Bank and as chairman of Greater China Acquisition Corp.
Shaun G. Morgan - Managing Director of Emirates Consolidated Investments: http://shaungmorgannews.com
Shaun G. Morgan Discusses the Impact of Sinocoin, the Newest Digital Currency: https://finance.yahoo.com/news/shaun-g-morgan-discusses-impact-043500384.html
SG Morgan Financial Services LLC: http://sgmorgan.com
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SOURCE: Shaun G. Morgan