Countries of the GCC region have come a long way. In diversifying their economies away from oil, they have invested in a wide range of sectors. Over the past decades, regional governments as well as private sector players have channeled resources into digitalizing systems to enhance productivity.
Governments’ efforts to support small and medium enterprises, coupled with local talent, can be credited for a crop of tech startups from the region, while global names have also established a presence.
The UAE and Saudi Arabia have added smart city technologies to their infrastructures. Similar advancements are taking place in Oman, that is following suit with the Madinat Al Irfan smart city project in Muscat.
Private sector organizations in the region have also adopted the latest and most efficient technologies over the past decade. This trend has accelerated following the Covid-19 pandemic. Due to lockdowns and restricted outdoor access, banking and finance institutions across the region, for example, saw a major increase in people using apps. Existing apps had to be updated to ensure a seamless customer experience. A study by a US tech firm, Avaya, that specializes in cloud communications, pointed to the adaptability of the GCC region’s banking sector to drastic changes in environment. The study said that GCC banks showed a commitment to digitization and a speed of modernization that had not been seen before – to counter the aftermath of a downcast global economy.
Continue reading: https://www.thenationalnews.com/opinion/comment/2021/09/07/a-ticket-to-boost-the-arab-worlds-tech-sector/
Governments’ efforts to support small and medium enterprises, coupled with local talent, can be credited for a crop of tech startups from the region, while global names have also established a presence.
The UAE and Saudi Arabia have added smart city technologies to their infrastructures. Similar advancements are taking place in Oman, that is following suit with the Madinat Al Irfan smart city project in Muscat.
Private sector organizations in the region have also adopted the latest and most efficient technologies over the past decade. This trend has accelerated following the Covid-19 pandemic. Due to lockdowns and restricted outdoor access, banking and finance institutions across the region, for example, saw a major increase in people using apps. Existing apps had to be updated to ensure a seamless customer experience. A study by a US tech firm, Avaya, that specializes in cloud communications, pointed to the adaptability of the GCC region’s banking sector to drastic changes in environment. The study said that GCC banks showed a commitment to digitization and a speed of modernization that had not been seen before – to counter the aftermath of a downcast global economy.
Continue reading: https://www.thenationalnews.com/opinion/comment/2021/09/07/a-ticket-to-boost-the-arab-worlds-tech-sector/
