COVID-19 has accelerated the adoption of virtual technologies over the years, pushing businesses above the technology tipping point and transforming the way businesses operate across sectors and regions. Although many nations have pushed their limits to take advantage of the tide of the 4IR, not all have fully succeeded.
Drawing on research into how the pandemic has influenced the functionality of other corporations and institutions, we have charted the trajectory of digitization in the young and up-and-coming UAE while addressing some basic questions about finance, academia and healthcare in the face of an unprecedented crisis. . . riot.
We explore how certain sectors have responded to demanding situations such as remote execution and social distancing in the face of national lockdowns, and test their progress towards a virtual future. In the words of Professor AlShamsi of the Graduate Schools in Technology: “The pandemic and its consequences have proven to be a wonderful challenge and also an opportunity to realize that what we have been waiting for in the next 50 years is going to happen. . . in the next five years. “
Looking at the world of opportunity that is the UAE, the public and personal sectors are looking to diversify the country’s economy, and it’s obviously working if you look at the rapidly changing business landscape with an increasingly varied diversity of cutting-edge corporations and industries. in the United Arab Emirates are leading this evolution. Fhad Algergawi, Executive Director of the Dubai Investment Development Agency (Dubai FDI), which plays a major role in the economic recovery, said: “Our methods and projects are forward-looking and based on the incredible history of good fortune of Dubai for the last 30 years. Our ambition is to continue down this path and the price of our efforts was shown in the FDI Global Cities of the Future 2021/22 report, where Dubai was ranked first regionally and second globally. world level as a top city for FDI in terms of economic outlook and having a business-friendly environment. Even the pharmaceutical industry is upping its game for a more incorporated global market with greater access to health care, as CEO Mark James told us. of MPC Healthcare: “At MPC, we invest in projects that help create economies of scale, specifically in capital, use and maintenance of devices and maintenance prices, and we seek to take advantage of the market for next-generation devices and generation and, therefore, attract global health players to the local UAE market. “
With the UAE’s smart and sustainable city movements, there is not only expansion in existing sectors, but also leadership in new industries, which require desperate attention if the world is to design a more sustainable future. Dubai is one of the world’s leading cities when it comes to sustainability, proving that the UAE is not only aiming for monetary gains, but also for helping the planet. While Dubai once pursued its vision through magnificent real estate, it is leveraging emerging technologies such as blockchain, artificial intelligence and knowledge science capabilities.
We shine a light on those who are emerging to the challenge of moving the country and, indeed, the world towards a socially, economically and ecologically sustainable way of life. Of course, to create those new sustainable hubs, new architecture and infrastructure is needed, resulting in further expansion in the real estate and production sectors, as fintech is expected to grow exponentially in the UAE over the next few years. In fact, 73% of other people have already embraced virtual banking and banks in the Middle East. They have been quick to expand contactless responses to the pandemic. United Arab Bank has reaffirmed its commitment to sustainability by combining components with Toppan FutureCard to create the region’s first green payment card made from one hundred percent recycled plastic. The OxyCYCLE cards are part of the UAE’s efforts for a long-term greener and its new policy to eliminate the use of avoidable single-use plastic materials.
Dubai has established itself as a leading virtual capital by installing the world’s first paperless government and thus achieving the objectives of the “Dubai Paperless Strategy”, launched in 2018. As the most dynamic city in the region, it has set ambitious expansion plans for the next decade. Dubai, already the Middle East’s top sensible destination for foreign investment, aspires to become the smartest city in the world; the maximum city visited until 2025; and the global medium of Islamic economics over the next decade.
The Dubai Industrial Strategy 2030 aims to make Dubai a global platform for knowledge-based, sustainable and innovation-driven companies founded on a diversified economy with superior added value, well incorporated into the global economy and providing more available and effective services. Value opportunities for all its citizens and residents. As the Middle East banking industry evolves, we are seeing an increase in virtual banking products and services. It is clear that virtual transformation will be at the center of the visitor experience in the banking sector.
David Hadley from Mediclinic added: “The UAE from a healthcare standpoint is very good, from what we have noticed and I think this will be a positive exercise in the future, other people now need to live here and have realised that there are schools and healthcare. “
Gen Z represents a total of around 1. 4 million other people in the UAE. This generation has a reputation for being virtual local and has attracted the attention of many companies by finding virtual methods to perceive the habit and expectations of their customers at work.
Companies analyze their needs, characteristics and personal tastes in order to offer them specific products and a suitable workplace. Young customers are expected to play a huge role in the expansion of Islamic finance and expand their visitor base, with this segment of young people expected to contribute up to 75% of banks’ total revenue until 2030.
We spoke to some of the leaders of this multitude of changes in the country, adjustments that, of course, will leave a tangible mark on the rest of the world. The vine is that there has never been a better time to invest in Dubai and, in the long term, the United Arab Emirates.
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This report was produced with FDI Dubai.