CES 2024: Cathay Innovation Reflects on a Week of Transformative Tech
2024 started hot with a visit to Las Vegas and the Consumer Electronics Show (CES). This year’s CES attracted 4300+ exhibitors and 135,000+ attendees exposed to significant announcements and product launches. As always, CES was a big opportunity to collaborate and be inspired by technology. The Cathay Innovation team scoured the show, looking for the hottest startups and the coolest new consumer electronics and mobility tech.
“We were extremely grateful and excited to take part in Cathay Innovation’s networking cocktail, as part of our presence at the CES this year. Innovation, operations, engineering, communication, and business development, we collectively enjoyed this enriching experience as we were able to touch base with a number of key industrial and innovation players and share insights on this year’s CES edition.
Working alongside Cathay Capital and Cathay Innovation has been allowing us to explore co-investment opportunities with funds and identify synergies with other large corporate partners, as part of our Innovation program and international development efforts.” — Joyce Abou Moussa, Deputy director of International development, Groupe ADP
While there, we took the opportunity to engage with a curated group of thought leaders in the technology, energy, and mobility world — everyone from industry giants to investors in new technologies and innovative startups like Airport of Paris, Amazon, TokioMarine, Wallbox, Murata, Honda, amongst others to engage in thought leadership conversations. In addition, we teamed up with Valeo, Avanta Ventures, and Sidley to host a cocktail networking event at the Alle Lounge at Resorts World to mix and mingle with top industry professionals and thought leaders in these sectors. Perched high above the glimmering Las Vegas Strip, 200 attendees shared insights and networked over light bites and cocktails while enjoying breathtaking views only Las Vegas can offer.
Select Takeaways from CES
Across the consumer technology spectrum, here are a few specific trends in mobility, energy and healthcare that took center stage:
Software Defined Mobility: This year, there were significant advancements in electric vehicles (EVs) and autonomous mobility in display, including:
- Future of Software Defined Vehicles (SDV) — SDVs were at the forefront of attention with major tech companies, OEMs, and startups alike unveiling latest developments in the space. From Valeo’s focus on bolstering their SDV presence while expanding thermal management to data center applications, to AWS’s numerous partnerships (e.g., AWS-Synopsis partnership on multi-distraction twins, AWS-Qualcomm Cloud-Native Snapdragon digital chassis development), to Intel’s introduction of its AI chip for cars with Zeeker on display at Valeo’s booth with their next-gen customizable digital panel.
- AI moving into the car — BMW, in partnership with Amazon, showcased a development project using generative AI to augment the capabilities of its voice assistant, aiming for more human-like, conversational interactions. Similarly, Volkswagen announced plans to include an AI-powered chatbot in all models equipped with its IDA voice assistant, enhancing user interaction and convenience.
- Next-gen EVs / ADAS — EVs, as expected, were displayed in many fashions as the global energy transition pushes on. Some notable displays included Honda’s introduction of its 0 series EVs, VinFast’s VF Wild electric pickup truck, and Kia’s modular Platform Beyond Vehicle (PBV) future strategy. Meanwhile Valeo’s SCALA 3 LiDAR perception system was an honoree in the Vehicle Tech and Advanced Mobility category and Continental showcased its parking solution, Radar Vision, combining high-resolution surround radars with high-resolution cameras, enabling parking applications that require very precise measurements in close proximity to the vehicle.
Integration of sustainability and energy-minded solutions: Companies showcased advances in clean-tech, from the circular economy in the agricultural sector to at-home energy efficiencies, like:
- Home energy improvements — Bosch demonstrated its commitment to sustainable energy with the IDS Ultra Heat Pump designed for cold climates, and an efficient hybrid water heater. EcoFlow unveiled its joint power station/residential power backup system designed for long power outages and daily use called Delta Pro Ultra, and Impulse Labs stood out with its battery-powered induction stove that could revolutionize the home-cooking experience.
- Sustainable operations — John Deere’s Operations Center Sustainability Tools were also on display conveying the power of the opt-in cloud platform that empowers farmers to create optimized workplans, monitor real-time job quality, and analyze and receive insights from data, anytime and anywhere (link)
“At CES this year, sustainability remained a constant theme, from KIA’s use of ocean-recyclable plastics to home energy management solutions. AI is ubiquitous, revolutionizing how we do more with less. To me, bidirectional energy was the standout trend, exemplified by the KIA home exhibit featuring Wallbox with the HEMS solution and emergency backup capabilities. Other noteworthy surprises at the show included Honda’s compelling EV announcement and KIA’s cross-industry impact with the “skateboard concept, which will have a cross-industry impact.” — Brett Graessle, Vice President, Global Partnerships and Business Development of Wallbox Chargers
Consumer and Healthcare: Companies showcased breakthroughs to improve healthcare and make people’s lives easier. For example:
- Glasses as the medium for AI: EssilorLuxottica (owner of Ray Bans) announced smart glasses that feature microphones, speakers, and algorithms to amplify speech and help with hearing. ABEYE is using AI glasses to help “fix” dyslexia and AI to aid with navigating and spatial awareness for blind people.
- Diagnostics permeating the home: BeamO announced a “multiscope” designed to give patients easy access to vitals during teleconference health calls. A smart mirror by NuraLogix AI announced at CES reads vital signs and can diagnose certain health conditions via AI, and a home UTI diagnostic kit by Vivoo can provide instant diagnoses and prescription sign-off.
- Smart shopping: Walmart is now offering smart replenishment based on consumption behaviors and ChatGPT for smart shopping. Ontbo’s new emotion analysis promises to offer better-personalized services to consumers this year.
Parting Thoughts
CES 2024 clearly showed a bright future for sustainable mobility solutions, the integration of AI in various applications, and the pursuit of energy efficiency through innovative technologies. The real question remains: What is fact and what is fiction? Only time will tell which technologies see mass market appeal.
Winning the energy transition, being an early adopter of ADAS, and being a preeminent integrator of AI into existing businesses will remain in the spotlight. But ultimately, profitability will still rule the game. Realizing this truth will help sort fact from fiction and may even provide insight into what CES 2025 will look like. Hopefully, we will catch you there!
