The Gulf region is a
perfect case study on how aggressive digitization reaps benefits in a short
span.
Countries in the Middle
East invested enough in digital transformation to create opportunities
exponentially. Wherever the Gulf companies stand in their digital transformation journeys, they need to tap the right opportunities from this very
moment to disrupt global markets.
Let's look at the most
lucrative opportunities emerging from digital transformation trends in the
Gulf.
Opportunity #1: Expansion in
robotics and automation
Gulf countries, like the
UAE, are showing great interest in rebuilding and redesigning their cities,
keeping AI at the core. So it's clear that the expansion of robotics is
inevitable.
You can spot robots of
different technical specifications roaming around the high-tech Expo site in
Dubai already.
Ambitious automation
projects centered around robots are drawing huge budgets from governments directly.
For instance, Dubai's
state-funded mission to have 25% transport automation by 2030 will create ample employment opportunities in
robotics and generate business in the automobile industry.
Opportunity #2: Customization
from virtual reality
Virtual reality is
already experiencing accelerated growth with multiple commercial touchpoints in
the Gulf.
The combination of VR
and AR (augmented reality) are serving many Middle East industries like
● design,
● automotive,
● military, and
● medicine.
For example, the
automobile industry can customize its vehicles according to customer
preferences. It can also train engineers for the features and functionality of
any upcoming fleet through simulation training.
Besides, the Dubai police launching VR-based games, where citizens can become detectives, indicates how
well the administration is popularizing technology to cultivate public
interest.
Opportunity #3: Boom in the
semiconductor industry
Despite its traditional
dependence on oil-based economic activities, the Gulf region managed to
establish a decent semiconductor manufacturing industry over the years.
When Gulf countries are
advancing fast in their digital transformation journeys, the semiconductor
industry faces a demand surge.
Consequently, the industry
is generating employment opportunities like never before. Moreover, a global
microchip shortage is a plus point for the Middle Eastern manufacturers,
preparing a pitch for them to be global players soon.
Opportunity #4: Fueled growth in
the IIoT
IIoT or the Industrial
Internet of Things is rapidly future-proofing Middle Eastern industries.
Some significant
benefits of IIoT are:
● increase in data competence
and knowledge,
● reduction in production
costs, and
● increase in the overall
productivity of units.
For this very reason,
investment and employment opportunities concerning IIoT in the Gulf industries
are rising significantly.
Opportunity #5: Operational
efficiency from data analytics
Gulf countries are trying
hard to shift from an utterly oil-dependent economy. But, the post-pandemic era
forced governments to increase revenue generation from the oil and gas industry
to compensate for the disruptions in other economic sectors.
Operational efficiency
was the key to the monetary sustainability of the oil and gas industry, which
could not have been possible without big data and data analytics.
So, data analytics has
come up in a big way in the Gulf in the last couple of years. With both
traditional and non-conventional use cases, the domain is set to expand
further.
Opportunity #6: Catalyst in the
form of cloud
A digitally inclined
population in the Middle Eastern nations poses enormous demands for cloud-based
business solutions.
In fact, cloud computing
is the catalyst for digital transformation in the Gulf.
Opportunities in
Artificial Intelligence, Machine Learning, and Data Analytics are penetrating
across diverse sectors via the cloud. The cloud vendors and professionals are scaling
reasonably, all thanks to increasing digitization.
The bottom line
The administrative
support to garner the benefits of digitization is the biggest incentive for
businesses to take up the cause seriously.
Digital transformation
is bringing several great opportunities to the foreground. Be it for
enterprises or individuals; these opportunities have a lot to offer. So, grab
them with both hands! It's the need of the hour.