Robotic exoskeleton suits that give manual labourers extra strength could be about to transform the workplace.
The power suits, designed by the European firm German Bionic, were among the main attractions on the second day of the technology exhibition Gitex Europe in Berlin.
The Apogee wearable tool, which has the appearance of a robotic vest, is already being used in factories, hospitals and production lines, where it is being used for a variety of tasks including changing tyres in car garages and easing the load of baggage handlers at Stuttgart Airport.
The company behind the device hopes that its success in Europe will soon be replicated in the UAE. The firm is looking to build new partnerships with Dubai investors and take the robotic vests into the Middle East.
Devices lift up to 36kg, providing "an intelligent link between humans and machines", as it learns each wearer’s behaviours and walking patterns to improve performance.
The Apogee is the sixth generation of the vest, with German Bionic’s chief product officer Norma Steller expecting the device to continue to improve.
“The purpose of the device is that it augments the human body in a way that gives you additional strength and power when you're lifting, when you're walking, or also when you're forward bending,” Ms Steller told The National in Berlin.
“In most cases, it is compensating the whole weight of anything that has to be handled. In Europe, most cargo is still moved on the road by lorries and the unloading and loading is still manual work. The exoskeleton will help and compensate those stress moments.”
Initial prototypes weighed 12kg, but the latest model on show at Gitex had its weight cut to just 7kg. The strength is provided by two electric robotic weight engines, with rechargeable power banks providing around four hours of battery life. Devices cost around Dh290,000, but can be rented for around D1,250 a month.
Wearable vest complements human skills
Rather than robots replacing workers, the devices allow an existing workforce to maximise their output, Ms Steller added. “You still have a human worker with the creativity, problem-solving skills and technical experience, but with the strength of a robot,” she said.
Company investors include Storm Ventures, Benhamou Global Ventures and MIG Capital, an early investor into BioNTech that developed a vaccine for Covid-19. In 2023, the device won a German Entrepreneur Award for innovation in an industry that has grown considerably in the last decade.
Driven by an increasing need for rehabilitation technology and workplace safety, manufacturing and health care have been the industries to see the greatest expansion.
That looks set to continue, with a forecast by industry analysts at Fortune Business Insights suggesting the global market for wearable robotic exoskeletons will reach $30.56 billion by 2032.
In 2023, the US army trialled a robotic exoskeleton to help soldiers carry heavy loads into the battlefield, and to help load howitzer shells. Troops from the 1-78 Field Artillery Battalion tested the futuristic suits to improve strength and endurance during combat.
At a Gitex panel on humanoid and human-centric robots, Pawel Mroczkowski, executive director of DBR77 Robotics said Europe was currently lagging behind the US in bringing robots into industry.
“In Europe, we need a new way of approaching the development speed for humanoids and human-centred robotics,” he said. “We know how robots and their applications will impact our companies for the next two or three years, but investors need to take a deeper jump into this industry.”
Since its inaugural event in Dubai in 1981, Gitex has expanded to host events in technology, business and health care in Africa, Asia and now Europe. On the opening day of the event on Wednesday, Alia Al Mazrouei, Minister of State for Entrepreneurship, hoped the three-day show would attract further investment into UAE tech companies.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Terminal High Altitude Area Defense (THAAD)
What is THAAD?
It is considered to be the US' most superior missile defence system.
Production:
It was first created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out projectiles, namely ballistic missiles, as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles both inside and outside of the Earth's atmosphere, at an altitude of 93 miles above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then deployed them in 2016, becoming the first Gulf country to do so.
