The majority of business executives in the Middle East believe technology is firmly embedded in the daily activities of the region and that industries and governments are using it to transform their core operations and reshape methods of working and communicating, a new report says.
Eighty-three per cent of Middle East businesses and IT executives agreed that through technology, companies are weaving themselves into people's everyday lives – from ordering groceries online to bringing a yet-to-be-built Dubai penthouse to life in virtual reality – according to Accenture's Technology Vision 2018 report. The IT company surveyed 6,400 related businesses and executives for its research.
Tech adoption is poised for growth as executives said they are prioritising investments in artificial intelligence (64 per cent) and the internet of things (68 per cent) in the coming months.
“Countries across the Middle East region are committed to harnessing technology and the power of AI as an engine for economic growth and diversification,” said Alexis Lecanuet, regional managing director at Accenture Middle East and Turkey.
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The UAE is the front-runner in the region, according to Accenture, which said the implementation of AI has the potential to boost economic growth by 1.6 per cent of GDP, adding $182 billion (Dh668.3bn) to the economy by 2035.
In Saudi Arabia, use of AI is forecast to contribute more than 1 per cent of GDP, adding $215bn to the kingdom's economy by 2035.
“The UAE continues to witness the exponential speed at which technology is disrupting industries, and as a future-focused country, it is fortunate to have the mindset required to leverage these technology advancements,” said Mr Lecanuet.
Examples of commitment to digital transformation range from Saudi Arabia's vision for Neom, a planned mega-city that will implement AI for every resident, to the UAE's strategy for AI, a major pillar of its Centennial 2071 objectives, which Omar Al Olama, the world's first Minister of Artificial Intelligence, is helping to oversee.
The challenge for most is to keep up with the rapid pace of advancement. Seventy-seven per cent of UAE executives surveyed agree that AI is advancing faster than their company’s pace of adoption. When it comes to understanding the extent to which employees understand how AI can be used within an organisation, only 12 per cent of the UAE executives reported their employees have a full understanding of the process.
Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Naga
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THE BIO
Ms Al Ameri likes the variety of her job, and the daily environmental challenges she is presented with.
Regular contact with wildlife is the most appealing part of her role at the Environment Agency Abu Dhabi.
She loves to explore new destinations and lives by her motto of being a voice in the world, and not an echo.
She is the youngest of three children, and has a brother and sister.
Her favourite book, Moby Dick by Herman Melville helped inspire her towards a career exploring the natural world.
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
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Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Company%20Profile
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Thank You for Banking with Us
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY%20PROFILE
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