BUSINESS

Saudi Arabia driving people-centric shift to digital future: Boulos

October 12, 2017
Omar Boulos
Omar Boulos

DUBAI — Saudi Arabia is leading the region’s dramatic shift to a people-centric digital future that will benefit both businesses and the society, and create positive changes in communities and economies across the Middle East region, said Omar Boulos, Regional Managing Director of Accenture, while speaking to Saudi Gazette on the occasion of the GITEX Technology Week 2017 being held in Dubai that started last Oct. 8.

“As countries across the region pursue a future powered by digital, it is becoming increasingly clear that people, rather than technology alone, are the decisive factors in securing transformation. We’re seeing a fundamental shift from the ways in which technology disruptions have impacted our lives in the past. Today, we are starting to see the emergence of technology being built by people, for people,” Boulos said.

He pointed out that the trend is becoming more visible with the fast-declining cost of advanced technology. The collision of mobile, cloud, artificial intelligence (AI), sensors and the ability to make sense of data through analytics is further accelerating the process, he said.

To a question on the transition taking place in Saudi Arabia, Boulos said regionally, the significance of these developments is most clearly being experienced in the Kingdom, where 43 percent of businesses have witnessed digital ecosystems having a noticeable impact on their respective industry.

Boulos said recent research conducted by Accenture has shown that countries in the region are fully aware of the disruptive digital change coming their way. The study found that nearly nine out of ten companies in both Saudi Arabia and the UAE agree that they are now entering an era in which change is no longer following linear progress, but is happening at an exponential rate, he stressed.

“It’s a hugely relevant shift for this region. in the second half of the 20th century, the population in the Middle East increased faster than in any other part of the world. This has raised significant challenges across multiple areas, including education, environment, healthcare and infrastructure. Digital has the potential to address and solve many of them, and the best part is that technology can now adapt – constantly aligning itself to our wants and needs. It’s a landmark moment,” Boulos explained.

To another question on the role of artificial intelligence in transforming the Saudi business sector, Boulos described AI as the biggest game-changer, which is pervading every possible arena with the potential to drastically alter the way people live and work in the coming years. The outcome will be substantial for Saudi Arabia as Accenture research reveals that 69 per cent of businesses in the Kingdom anticipate that they would be investing extensively in embedded AI solutions in the near future, he said.

He further said leading enterprises across industries are integrating critical activities with digital platforms – resulting in core business functions that heavily rely on third parties and their platforms. Consequently, they are designing future value chains that will transform their businesses, products, and the market itself.

Citing Accenture findings, Boulos said 47 percent of Saudi businesses and 43 percent UAE companies believe that the digital revolution is driving a new era of corporate economic structure. The trend appears to be most pronounced in the Saudi market where 58 percent of respondents expect the use of independent freelance workers to increase by up to 100 percent in the coming year, he said.

“Amid an increase in on-demand labor platforms and online work management solutions, digital leaders are fundamentally changing their workforce structure by dissolving traditional hierarchies and replacing them with open talent marketplaces,” Boulos said.

With such fast paced developments in digital transformation, Boulos sees industries benefiting from unparalleled opportunities to unlock new values and new realities in employment and partner collaboration. What is remarkable is that the human aspect will remain integral to all that is taking place, ultimately helping redefine customer expectations and the way companies address their needs. This will pave the way for improved customer experiences and better outcomes for everyone, he added.


October 12, 2017
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