The deployment of technologies utilising the so-called Internet of Everything will be worth Dh17.9 billion to Dubai’s economy by 2020, according to a new report from Cisco in conjunction with the government entity Smart Dubai.
Smart Dubai announced yesterdaythat the opportunities of the Internet of Everything – identified as net revenues, cost savings and value available to organisations and industries – amounted to Dh4.3bn for the emirate’s public sector and Dh13.6bn for the private sector.
“The Smart Dubai initiative seeks to change the way business is conducted across sectors and deliver greater quality of life for hundreds of millions of people through the Internet of Things,” said Ahmad bin Byat, the chairman of Smart Dubai’s executive committee.
This was in line with the vision of Sheikh Mohammed bin Rashid, Ruler of Dubai and Vice President of the UAE, to transform the emirate into a smart city, he said.
The report’s findings were announced on the eve of Tuesday’s Dubai Smart Cities Forum, the second event of its kind, hosted by the Mohammed Bin Rashid School of Government at Dubai World Trade Centre.
The Internet of Everything is a concept in which devices gather real time data and communicate with one another over the internet to improve efficiency, productivity and safety across a wide range of sectors.
“Collectively, we have arrived at an extraordinary juncture where Dubai’s geographic advantage, economic outlook, resident diversity and access to best-of-breed innovators can be leveraged to transform the city into a benchmark for the world’s emerging economies. The report by Cisco affirms this,” Mr bin Byat said.
The global Internet of Everything is forecast to be worth US$19 trillion by 2022, with more than 50 billion compatible devices connected to the internet by 2020, according to Cisco.
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