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Smart Future World Expo kicks off in Istanbul

31 October 2019 11:24

ISTANBUL. KAZINFORM One of Turkey’s premier technology events, the Smart Future World Expo 2019, started in Istanbul on Wednesday.

The two-day event is being attended by top officials, experts, and representatives from the business and technology world, Anadolu Agency reports.

Held with the theme «Digital SME Movement,» the event will focus on future technologies and their effects on cities and industries.

Fatih Donmez, the Turkish energy and natural sources minister, said people, foundations, NGOs, the business world, and politicians follow and contribute to innovations in Turkey.

Small-and-medium-sized enterprises (SMEs), which is the first step of the production, are in the center of the innovation and contribute to Turkish economy, he underlined.

He stressed that the modern world, where accessing and spreading information has become easier, provides innovation and development opportunities.

Internet of things market to reach $250B

Sekip Avdagic, chair of the Istanbul Chamber of Commerce, stressed that digitization will boost SMEs' profitability and productivity.

SMEs should be a part of the digital ecosystem, an international upward trend, he argued.

Murat Karatas, head of the expo, said that during the two-day event, technology, research and development, digital transformation, and innovation will be discussed.

«There is no alternative to digital transformation in the business world,» he said.

Steven Young, the head of technology giant Bosch's Middle East and Turkey division, said the internet of things (IoT) market will soon reach $250 billion.

As of 2025, 55 billion devices will be connected to each other via the internet, and companies are expected to invest in $15 trillion in this field, he added.

Christina Stathopoulos, a data analysis advisor of Google Spain, said every minute people post 55,140 pictures on Instagram, do nearly 4.5 million searches on Google, post 511,200 tweets on Twitter, and send 188 million e-mails.

Saying that the big data is useless if it is not processed, she underlined that several big companies are storing everything to use big data.

The technology event is expected to attract around 20,000 visitors.

Keywords: World News, Economy,
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