THE DIGITAL DISRUPTORS

IN THE COMING YEARS, THE GCC IS EXPECTED TO PLAY A SIGNIFICANT ROLE IN SECTORS SUCH AS HEALTHCARE, MANUFACTURING, EDUCATION AND RETAIL, WHICH WILL HELP BOOST THE GROWTH OF ITS NON-OIL ECONOMY

- DIVSHA BHAT

While still strongly reliant on oil and gas production and exports, GCC nations, including the private and public sectors, are making significant efforts to diversify their economies by investing in advanced digital technologies such as 5G, artificial intelligence (AI), virtual reality (VR) and internet of things (IoT), among others, to make way for new business models in the region.

United Arab Emirates

The UAE government recognizes the pivotal role of emerging technologies in the modern world. Aiming to become a diversified knowledge-based economy, it has established various visions and initiatives geared towards investing in digital technologies and preparing future generations with the skills and knowledge needed to succeed in this rapidly evolving environment.

Earlier this year, the country – which is celebrating its golden jubilee this year – unveiled the ‘Principles of the 50,’ a document that will define its future over the next 50 years.

The Principles of the 50 was launched to lay out a strategic roadmap for the UAE’s new era of economic, political, and social advancement. Ten principles are outlined in this document, which all government agencies, including the legislative system, police and security institutions, and scientific bodies must use as guidelines when making decisions.