Digital Transformation: A Big Leap For Saudi Arabia Towards The Digital Footing:
Digital Transformation: A Big Leap For Saudi Arabia Towards The Digital Footing
The Kingdom’s digital agenda aims to position it as a technology hub. From automating government processes to building mega-projects like Qiddiya and NEOM, the technological revolution is shaking up all facets of Saudi life. The Kingdom of Saudi Arabia is positioning itself as a digital powerhouse with an ongoing transformational leap. It seeks to double its digital economy by 50% and contribute $13 billion to the international economy.
KSA has strong infrastructural facilities, which have aided in the country’s digital transition. This system has allowed the Kingdom to deal with government and non-governmental disruptions while maintaining business stability, addressing citizen concerns, and managing educational activities. A fiber-optic network encompassing more than 3.5 million homes across the Kingdom was built in partnership with the private sector to improve the quality of digital services provided to beneficiaries.
Robo And AI-Based Technologies Doubling Saudi Arabia’s Economic Output
With artificial intelligence, IoT, and big data soaring in importance, robotics and automation occupy a high spot on the Kingdom’s Government agenda. The country has already developed entities and organizations including SDAIA, NCAI, and NDMO. It has passed legislation governing the application of robotics and automation. According to research, Saudi Arabia might quadruple its gross domestic product to $1.6 trillion and generate $293 billion by 2030 if it completely implements intelligent robotic technology. On the e-government development index, KSA ranked no. 12 among G20 countries and ranked second worldwide in corporate cybersecurity.
Making Saudi Arabia More Competitive Through Data Analytics
The Ministry of Health, Ministry of Education, Ministry of Foreign Affairs, and Ministry of Finance are among the most prolific open data creators in the government. They’ve started sharing a large volume of data on the DATA.GOV.SA Open Data platform. KSA can utilize data analytics to possibly enhance domestic production, develop improved products or services for residents, and expand research and development efforts. One of the technology drivers outlined by the Smart Government Strategy is the rising use of Big Data and analytics. The country is focused on a wide array of fields, such as the future of sustainable e-commerce, fintech, health tech, robotics, and IoT, as well as the role that technology plays in renewable energy sources.
Enabling Digital Transformation Through International Investment
LEAP, a tech conference, was inaugurated in Riyadh. The three-day technology conference, which began on February 1, has attracted some of the tech industry’s most successful businesses. The conference will bring in foreign investors with heavy investment scopes, Faisal bin Saud Al-Khamisi said. It will accelerate digitalization by creating and implementing cutting-edge technology and communication solutions. An IDC report estimates that government and business IT investment in digital transformation will increase to 50% by 2023. Over $2.13 billion in international investment has surged into the IT economy of Saudi Arabia. Investments in fintech increased from about $144 million in 2020 to almost $400 million in 2021, which was quite substantial.
Tech Giants Participate In KSA Technology Initiatives
The Kingdom’s 34 million people, 70 percent of whom are under the age of 30, are adopting digital technologies at a mass scale through the cooperation of tech giants. By 2020, the Kingdom plans to invest more than $1.2 billion in a variety of technical programs aimed at improving the digital competencies of 100,000 Saudi youth. In a partnership with Saudi Arabia, Amazon, IBM, Cisco, Oracle, Informa, and Microsoft, among other tech companies, will establish digital competence institutes and innovation hubs for tech entrepreneurs.