Middle Eastern countries have become early adopters of cutting-edge digital technologies, with governments increasingly diversifying their economies. The public and private sectors have made significant gains in establishing a robust digital infrastructure that supports innovation and opens new economic possibilities. This has also attracted investment from various technology vendors who are working diligently to serve the region. According to Gartner, the IT spending in the Middle East and North Africa is set to grow 4.5 per cent annually and reach $171.3bn this year as businesses increasingly digitize amid pandemics.
As governments in the Middle East work to diversify their economies, a greater focus is being placed on broad-scale digital transformation across verticals. The public and commercial sectors have made significant gains in establishing a robust digital infrastructure that supports innovation and opens new economic possibilities, driven by national visions and ICT goals. The UAE government also announced the launch of the Fourth Industrial Revolution Network to promote innovative technologies in the country’s industrial sector. Moving forward to the other parts of GCC, Saudi Arabia launched its Saudi Vision 2030 five years ago. The key goals of the vision include reinforcing economic and investment activities, increasing non-oil international trade, and promoting a softer and more secular image of the Kingdom. Whether it’s artificial intelligence (Ai), blockchain, cloud computing, or machine learning, the Middle East is ahead of the rest of the world in terms of innovation and progress. UAE leads the Arab world in innovation and adoption of technologies.