Wearable tech isn’t exactly new

But the boom has only just begun.

Wearable tech has been a hotly debated subject lately. Innovations like Google Glass have made watches, shoes and other accessories a popular commodity, once they’re upgraded with various types of communicative technology. At the moment, the market for wearable tech has a value of $3-5 billion. But according to a new report from the European banking giant Credit Suisse, the market value for wearable tech will grow ten-fold within the next 3-5 years.

Now, wearable tech isn’t exactly a new phenomenon. We’ve been wearing digital watches since 1970, and they’ve since grown to include various functions such as online chatting and cameras. In recent years, wristbands with diverse functions such as unlocking mechanisms for cars and homes, as well as measuring your pulse or counting the amount of steps you’ve taken in a day, have become a popular accessory for the tech-wise. The latest invention is the Google Glass project, which promises to translate your voice if you need to ask anything in Chinese, give you the answers to curious questions and show the way in case you get lost. All through a slim pair of interactive glasses.

Its no surprise then that two of Silicon Valley’s biggest names, including Apple’s Tim Cook, only last week surmounted that wearable tech is an interesting market at the moment.

Famed venture capitalist and internet trend guru, Mary Meeker, even went so far as to call wearable tech the next big thing.

With developments like these, Credit Suisse says the wearable tech market is on the verge of a sales boom. As such, the bank has recommended clients to invest in heavy hitters such as Apple and Google, as well as up-and-coming companies specialising in software and retail.

However, some people are still skeptical of the trend, pointing out that “big things” such as digital cameras, MP3’s and GPS’s are taking a back seat to the all-mighty smart-phone, which provides all functions in one gadget.

But according to Mary Meeker, wearable tech will likely pick up where the smartphone leaves off.

The average smartphone user checks their device 150 times a day. "What if you didn't have to do that?" Meeker asked at a recent convention, pointing out that the need for quick convenience might circumvent the digital equivalent to a Swiss army knife.  In this respect, a simple, wearable device with sensors could be the answer to our future needs.

However, as Tim Cook pointed out, there’s still a way to go, before iWatches and Google Glass can replace the smart-phone. For example, big data, which is the data-gathering technology used for such intuitive inventions, is still in the developmental phase. In the meantime, tech-companies need to consider that not everyone wants to wear glasses or a wristband if the functions aren’t exceptional compared to a smart-phone. So yes, I agree that wearable tech is an interesting development worth keeping your eyes and money on. But I’m not sure that the boom is quite there yet. Give it a year or two.

Photograph: Getty Images

Sandra Kilhof Nielsen is a freelance writer and former reporter for Retail Banker International, Cards International & Electronic Payments International.

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Commons Confidential: Could Corbyn's El Gato kick Larry out of Downing Street?

The No 10 cat fight.

A rolling revolt is gathering speed, as the suspicion grows that Theresa May called her snap poll to escape potential by-elections, should the Crown Prosecution Service find that her MPs were involved in electoral fraud during the 2015 campaign.

A growing number of Tory MPs are informing HQ that they don’t want a battle bus visit. Driving the rebellion is the hard-boiled Andrew Bridgen, who made his cash by selling prewashed spuds to supermarkets. “I’m going to post party workers on every route into my constituency,” growled the veg baron, who is defending an 11,373 majority in Leicestershire, “with orders not to let any bloody bus on to our patch.” Here’s an opportunity for Tory command to raise a few bob: flog tyre-bursting spike strips to candidates.

Fur would fly in the unlikely event that Jeremy Corbyn moves into No 10. The more optimistic among his entourage fret over whether the moggy El Gato could cohabit with Larry the Downing Street cat. Corbyn muses that El Gato is a socialist, sharing food with a stray that turned up in his north London garden. If Labour wins, I understand that El Gato is the top cat or Larry is out with May. Jezza’s first call wouldn’t be to Donald Trump or Angela Merkel but to Battersea Dogs and Cats Home.

George Osborne’s £650,000 BlackRock sinecure is jeopardised, I hear, by his London Evening Standard editorship. An impeccable source whispers that the world’s largest investment fund, controlling £4trn of loot, anguishes over possible conflicts of interest. BlackRock hired Osborne to nurture high-net-worth clients, who are suddenly wary of divulging secrets to an ambitious hack. Perhaps the super-rich should relax. He is incapable of recognising a story, even missing Standard deadlines with his resignation as a Tory MP.

The word is that Ukip’s seven-time loser Nigel Farage declined the chance to risk an eighth loss to retain his £800-per-hour LBC radio gig. The Brexit elites’ Don Farageone needs the money – a chauffeur-driven Range Rover with tinted windows won’t be cheap.

Corbyn’s war on dandelions is on hold during the campaign, with green-fingered comrades tending his allotment. Cherie Blair was accused 20 years ago of mentally measuring up curtains for No 10. Corbyn quipped that he is tempted to measure flower borders to plant runner beans. Labour’s No 10 would certainly be no bed of roses.

What will retiring MPs do? Middlesbrough South’s Tom Blenkinsop informed colleagues that he might join the army. My hunch is that at 36, with a Peaky Blinders haircut, the general secretaryship of the Community trade union is more likely.

Kevin Maguire is the associate editor (politics) of the Daily Mirror

Kevin Maguire is Associate Editor (Politics) on the Daily Mirror and author of our Commons Confidential column on the high politics and low life in Westminster. An award-winning journalist, he is in frequent demand on television and radio and co-authored a book on great parliamentary scandals. He was formerly Chief Reporter on the Guardian and Labour Correspondent on the Daily Telegraph.

This article first appeared in the 27 April 2017 issue of the New Statesman, Cool Britannia 20 Years On

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