Investors are becoming increasingly disillusioned with the technology-driven growth model and want to turn their attention elsewhere, according to a survey.
The findings were presented at the Financial Technology Investment Conference (FTIC), which was held in Dubai on Thursday.
The FTIC, which was launched in 2013 to promote technology-related investment, attracted more than 7,000 attendees.
It’s the first annual conference to be held in the Middle East, and its first to be hosted by the UAE.
“I would say we’re getting more disillusioned than we were before, and we’re looking for alternatives to the current model, because there’s no clear path forward,” says Amir Ahmed, who founded an investment fund called Al Jumeirah Investment Fund (AKIB) and is the founder of a financial technology company, SmartAsset.
“It’s not like a dotcom bubble.
He says there is “a lot of hype” around tech, but the market is being flooded with too many products and services that “do not contribute to long-term growth”.”
This is really something that’s really interesting to watch, and the technology is really interesting for a lot of people.”
He says there is “a lot of hype” around tech, but the market is being flooded with too many products and services that “do not contribute to long-term growth”.
He says many people have lost interest in investing in tech because they are losing money.
The FTIIC, like other financial events, focuses on technology and innovation.
Its theme is ‘The Next Big Thing’ and the conference’s speakers include Google co-founder Sergey Brin and Uber’s Travis Kalanick.
But while the FTIC has attracted a lot more attendees than ever before, Ahmed says many of the participants are still sceptical about investing in the sector.
He says: “A lot of the people I’ve spoken to are sceptical.
They think that there are too many new products and they don’t understand the process.
Many people feel like they have to spend time and energy to learn, to get to know the company and the process, because they don”
They’re not sure about how to understand how to invest, and how to manage their money.”
Many people feel like they have to spend time and energy to learn, to get to know the company and the process, because they don