Industry needs to embrace advanced technologies to thrive, experts say

UAE's Ministry of Industry and Advanced Technology hosts joint event with World Economic Forum on the future of manufacturing

The Platform for Shaping the Future of Advanced Manufacturing and Production was held online by the UAE's Ministry of Industry and Advanced Technology and the World Economic Forum on Monday. Image: MiShow more

There is an urgent need for global industry to speed up the adoption of advanced technologies, a panel of industry figures at a joint event held by the UAE's Ministry of Industry and Advanced Technology and the World Economic Forum agreed.

The Platform for Shaping the Future of Advanced Manufacturing and Production, which was held online on Monday, contained briefings raising awareness of Industry 4.0 – how technologies driving the Fourth Industrial Revolution will affect manufacturing – and guidance for UAE companies on how to best use them.

It also discussed the UAE's rollout of its Operation 300bn industrial strategy launched last month and the role the Emirates Development Bank will play in helping to fund it.

“Over the years, industrial companies in the UAE have contributed significantly to our progress. Today, they are critical to our continued diversification efforts," Mohammed Al Qasim, director of technology development and adoption, said.

“By leveraging the power of advanced technologies, the UAE’s strong industrial base is well-set to rapidly expand and turbocharge sustainable economic growth. And companies able to adopt the latest innovations and technological solutions will be key enablers of this journey.”

The online event was attended by more than 30 representatives from UAE industry and government, including the Abu Dhabi National Oil Company, Emirates Steel, Emirates Global Aluminium and defence conglomerate Edge.

Representatives from the World Economic Forum outlined its vision of how advanced manufacturing and production can work in a way that is inclusive, people-centred, agile, sustainable and connected.

Ben Ong, an expert in advanced manufacturing at the platform also outlined how its Smart Industry Readiness Index was created. The index provides frameworks to help manufacturers' transformation plans.