Artificial Intelligence
Global Built-in Kitchen Appliances (Large Kitchen Appliances) Market is valued at USD 17.77 Billion in 2022 and anticipated to continue growing at a CAGR of 6.04% to be valued at USD 25 Billion by 2028: Bonafide Research
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Clifton, New Jersey, May 16, 2023 (GLOBE NEWSWIRE) — Modern kitchen design often emphasizes sleek, streamlined aesthetics that can be achieved through built-in appliances. Consumers today are looking for kitchens that are not only functional but also stylish and visually appealing. Built-in appliances can help maximize kitchen space and create a more open and uncluttered look. This is especially important in smaller kitchens or homes where space is at a premium. Built-in appliances can increase the value of a home and make it more attractive to potential buyers. This is particularly true for high-end, luxury appliances that are built into the cabinetry, creating a more cohesive and harmonious look. This is especially important for consumers who value the overall aesthetic of their kitchen. For example, built-in ovens may have touch-screen displays or smart home connectivity, while built-in dishwashers may have multiple wash cycles or energy-saving features.
Key Takeaways:
- Built-in refrigerators account for the most preferred built-in kitchen appliances with a 26.66% share due to their sleek and modern design that seamlessly integrates into the kitchen cabinetry and their spacious and customizable storage options.
- Built-in hoods are increasing rapidly at a CAGR of 7.03% due to several factors, such as the growing trend of modular kitchen designs, the increasing popularity of home-cooked meals, and a sleek and modern look to the kitchen while saving space.
- North America leads with a 44% share, driven by modern and luxury built-in kitchen appliances in open-concept homes and home renovation activities.
- Residential built-in kitchen appliances will see increased demand over the forecast period at a CAGR of 6.65%.
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Some of the trends in built-in hobs are hobs with induction cooking, hobs with touch controls, gas on glass, integrated ventilation, and a variety of grill and griddle options. Coffee makers that offer a range of brewing options are becoming more popular as consumers seek a more authentic coffee experience. Smart coffee makers are becoming more popular, allowing users to control and customize their coffee using an app on their smartphone or tablet. Portable coffee makers that are lightweight and compact are increasingly being bought by North Americans. Built-in ovens with smart features, such as WiFi connectivity and app control, that perform multiple functions, such as baking, broiling, and grilling, are becoming more popular. Additionally, ovens with clean lines, stainless steel finishes, and touch controls are becoming more popular. Built-in ovens with a steam function that help lock in nutrients and moisture and a self-cleaning feature that further eliminates the need for harsh chemicals and scrubbing are becoming more popular. Smart technology integration in built-in refrigerators allows users to remotely control and monitor the temperature, humidity levels, and energy consumption through their smartphones or tablets. Customizable storage options, with adjustable shelves, drawers, and bins that can be moved or removed to accommodate different types and sizes of food items, are being considered good options. Many models are designed to be energy-efficient, with features such as LED lighting, dual compressors, and improved insulation. Additionally, integrated water and ice dispensers, crushed ice, sparkling water, or hot water dispensers are features that consumers are looking out for. Sub-Zero, Thermador, Bosch, Miele, LG, Samsung, and GE are popular brands that offer built-in refrigerators in global markets.
The global built-in kitchen appliances market faces some restraints that may impact its growth, like high costs and installation challenges, limited flexibility, and repair costs. The market is highly competitive, with a large number of established players and new entrants vying for market share. With the advent of new technologies, companies must constantly innovate to stay ahead of the curve and meet the evolving needs of consumers. Consumers are increasingly demanding eco-friendly, energy-efficient, and smart appliances, which may require significant investments in R&D.
“The residential built-in kitchen appliance market is expected to continue growing due to the increasing demand for modern, efficient, and connected appliances in homes around the world,” says Mr. Dhwipal Shah, from Bonafide Research. The growing popularity of smart homes and the Internet of Things (IoT) has led to the development of connected built-in kitchen appliances. These appliances can be controlled and monitored remotely through a smartphone app or virtual assistant, adding convenience and functionality to the kitchen.
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Commercial kitchens are typically larger and have higher usage rates, so they require more heavy-duty and durable equipment. Additionally, commercial kitchens often have specific needs and regulations that must be met, such as health and safety codes, which require specialized equipment. As a result, the commercial built-in kitchen appliance market is typically more focused on meeting the unique needs of professional kitchens. The demand is driven by the HoReCa sector’s desire to reduce costs associated with installing and maintaining conventional cooking equipment. Furthermore, these appliances eliminate the need for large spaces owing to their compact design and are easy to clean as they have a glass front panel that allows users access to inner components without having to open up the entire machine.
According to a survey conducted in the USA, over 65% of Americans own at least one smart gadget, indicating that most customers find these modern helpers useful in their everyday jobs and activities. Whirlpool Corporation is a home-grown manufacturer and supplier of built-in kitchen appliances in North America. It is among the first few companies to capture various top-notch brands under its portfolio, such as Jenn-Air, Amana, KitchenAid, Maytag, and Whirlpool. The portfolio for built-in kitchen appliances includes a wide variety of technological advancements like artificial intelligence, sensor-based technology, and a few other features by various brands such as Electrolux, Whirlpool, and Samsung, which has caused competition to offer a wide variety to choose from among customers.
The European built-in kitchen appliances market is also anticipated to grow at a substantial rate due to consumer shifts towards the use of induction cookers, microwave ovens, induction ranges, electricity-operated products, and rising disposable incomes. The growing digitalization is shaping the future of the market. The number of smart homes, which is constantly growing, is adding an advantage to the market by increasing the usage of connected appliances in the region. Similarly, distribution is notably tending towards channels featuring high discounts, including private label goods outlets, mega markets offering high discounts through tax rebates, and tie-ups with manufacturers. The introduction of smart features in refrigerators was a major breakthrough in product evolution, and it helped the market strengthen its position.
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Asia-Pacific is the expected region in terms of growth in the built-in appliance market due to increasing residential projects, rising power infrastructure development in rural India, and the growing trend of nuclear families in this region. Japan is a significant market for built-in kitchen appliances. The demand for luxury and technologically advanced kitchen appliances is increasing in Japan, influenced by a high standard of living. Japanese consumers also tend to prioritize energy efficiency and eco-friendliness in their appliances, leading to a demand for environmentally friendly and energy-saving models. Some major players in the Japanese market for built-in kitchen appliances include Panasonic, Mitsubishi Electric, Sharp, and Hitachi.
The construction sector is witnessing substantial demand for enhanced and smart homes equipped with technologically advanced appliances and devices. Developing countries such as Brazil have made interesting strides in smart home developments, which imply an increase in the adoption of built-in kitchen appliances. The rapid shift in the mindsets of the Brazilian population is heavily impacting the growth of integrated appliances such as built-in ovens, built-in hobs, built-in hoods, built-in refrigerators, built-in dishwashers, and others. Also, the hospitality industry in various geographies is procuring robotic or built-in technologies and connected technologies to enhance customer satisfaction. Various hotel management teams are showcasing interest in transforming their kitchens into smart built-in kitchens with the procurement of these kitchen appliances.
Consumer durables players like Whirlpool, LG, Electrolux, Samsung, BSH, etc. are looking to double their business in the built-in appliance space in the MEA region. Major players have tied up with real estate players like DLF, through which they are able to provide appliance solutions to their customers. Samsung expanded into the built-in kitchen appliances market with Sempio to strengthen its business, eyeing the rising demand for built-in kitchens for luxury mansions, premium apartments, and food businesses. Qatar and the UAE are dominated by Western manufacturers, while future demands are expected to be driven by replacement products. Penetration in other GCC countries is low, but growth is high and in line with rising household purchasing power. In addition to that, increased focus on the strongest brands and product categories is constantly seen in the Middle East and Africa.
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Considered in the Report
- Geography: Global
- Historic Year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
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The global vacuum cleaner market is expected to reach USD 40.55 billion by 2028, growing at a CAGR of 8.59%. It is driven by technological advancements and increasing consumer demand for efficient and eco-friendly cleaning solutions. The rise in popularity of smart houses has swayed customers towards smart appliances like robotic vacuum cleaners. The food and beverage industry and pharmaceuticals industry are the largest users of industrial vacuum cleaners. But high costs and heavy structure act as a restraining factor, which is expected to grow at a CAGR of 6.61% during 2023–28. Residential vacuum cleaners are used in 85.99% of households in the Middle East and Africa region. Commercial vacuum cleaners in South America account for 35.13% of the market, the highest of all the regions. Industrial vacuum cleaners are most commonly used in North America, accounting for 4.44% of the market. The Asia-Pacific vacuum cleaner market is anticipated to grow at the fastest CAGR of 10.61%. Canister, upright, and dry vacuum cleaners are most commonly used in European countries.
The global air fryer market is expected to grow at a CAGR of 10.84% to be valued at USD 4.9 billion by 2028. Air fryers are often marketed towards younger generations, who are more health-conscious and interested in trying new and innovative cooking methods. This has helped to drive demand for air fryers among millennials and other younger consumers. Europe leads with a 34.96% share, accounting for higher demands from Germany and the UK. In South America, residential air fryers account for 82.28% of the market. Asia-Pacific region to see significant demand for air fryers at a CAGR of 12.82%, owing to consumers’ awareness to stay fit, reduce chances of chronic diseases, and develop healthy eating habits. The air fryer market in the MEA region is currently not as developed as in other regions, largely due to lower consumer awareness, the prevalence of traditional cooking methods, and the lack of availability of air fryer models in local markets.
The global dishwasher market is expected to be valued at USD 36.25 billion by 2028, growing at a higher CAGR of 7.79%. Asia-Pacific region to exhibit significant demands for dishwashers in coming years at a CAGR of 9.62%, driven by home renovation activities, built-in kitchen appliance use, smart integration of home appliances, and an increasing female working populace. Built-in dishwashers are more common in Europe than in North America. This is because European homes tend to be smaller and more compact, so built-in appliances help to maximize space and create a more streamlined look. In addition, many Europeans have a strong preference for integrated kitchen appliances that blend seamlessly into the overall kitchen design. South America and the MEA regions together will account for nearly 14% of the total global dishwasher market in 2022.
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Artificial Intelligence
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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Artificial Intelligence
J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit
In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
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Artificial Intelligence
Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024
SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.
Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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