Discover how UAE tech leaders’ confidence in technology drives business growth, efficiency, and ESG goals, outpacing global averages in AI and XaaS adoption. Explore insights from the latest UAE Tech Report.
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A Robust Faith in Technological Capabilities
A recent report has spotlighted the remarkable optimism among technology executives in the United Arab Emirates (UAE).
A striking 89 percent of these tech leaders maintain that their current technological resources are well-equipped to drive business expansion and support the development of their organizations.
This confidence outstrips the international average by 16 percent, demonstrating the UAE’s strong position in the tech sector.
UAE’s Pledge to Technological Advancement
This confidence reflects the UAE’s dedication to using technology as a catalyst for achieving comprehensive business goals.
The country’s technology leaders are not only focused on growth but are also keen to tackle various challenges and align their efforts with environmental, social, and governance (ESG) principles.
An impressive 87 percent of UAE tech leaders are convinced of their technology’s power to push forward the ESG agenda, outpacing the global confidence level by 15 percent.
Enhancing Workforce and Operational Efficiency
Moreover, 86 percent believe their technology simultaneously improves employee contentment, welfare, and productivity while reducing operational costs.
This demonstrates a holistic approach to technology deployment, where the benefits extend beyond the bottom line to include workforce satisfaction and overall efficiency.
Mohamad Majid’s Insightful Observations
Mohamad Majid, a partner at KPMG Lower Gulf, highlights the resolve of the UAE’s digital transformation leaders to foster innovation and swiftly harness value amidst global economic fluctuations.
“The UAE’s digital transformation leaders are resolute in their commitment to innovation and the rapid realization of value, even in the face of global economic uncertainty,” says Majid.
The UAE Tech Report he refers to provides valuable insights into how UAE tech leaders set a global benchmark in strategically adopting AI, prioritizing ESG, focusing on cybersecurity, and advancing business technology.
AI and ML at the Forefront
The UAE’s focus on artificial intelligence (AI) and machine learning (ML) is well-aligned with the perspectives of Chief Technology Officers (CTOs).
According to the KPMG study, 53 percent of UAE tech leaders identify AI as a critical factor for meeting their immediate objectives.
The report also explores other technology preferences, such as edge computing (43 percent) and quantum computing (41 percent), potent tools for short-term goals.
Additionally, the Metaverse, though less prominent at 29 percent, is seen as an emerging area with potential for future applications.
Profitability and ‘XaaS’ Technologies
The confidence in AI is partly due to its proven return on investment (ROI), with two-thirds of CTOs reporting a significant profit boost due to AI-related endeavors.
Furthermore, 84 percent of UAE tech leaders believe that the advantages of “XaaS” (Everything as a Service) technologies surpass the associated risks, positioning them 21 percent ahead of their global counterparts.
XaaS, which includes various subscription-based online services, allows businesses to remain agile, cost-effective, and up-to-date.
Cybersecurity as a Key Concern
In the UAE, digital transformation is also driven by the need for robust information security.
This is in response to regulatory demands and escalating concerns over cybersecurity, with over half (56 percent) of tech leaders prioritizing customer needs for improved data privacy and cybersecurity in their strategic planning.
Challenges on the Horizon
Despite the strong confidence, 47 percent of UAE tech leaders point out that underdeveloped data management strategies pose a hurdle, which is a more significant challenge compared to the global average of 34 percent.
Additionally, 43 percent highlight the constraints imposed by outdated legacy technologies, underlining an urgent need for innovative solutions.
Looking Towards UAE’s Centennial 2071 Goals
As the UAE marches towards its centennial goals for 2071, the report underscores the transformative potential of technological innovations across various sectors, including education, healthcare, tourism, and manufacturing, in addition to ESG initiatives.
The proactive stance of UAE tech leaders indicates a promising future where technology is not just an enabler but a driver of comprehensive and sustainable growth.