Coalition to Restore Legitimacy in Yemen: Interception, Destruction of Ballistic Missile Launched by Terrorist, Iran-Backed Houthi Militia Toward the Kingdom    US Reports 73,610 New Coronavirus Cases    Mercedes' De Vries wins Forumla E's first night race in Diriyah    HRH Crown Prince Receives Phone Call from Emir of State of Kuwait    KSrelief Distributes 3,000 Cartons of Dates in Marib Governorate, Yemen    Wall Street Closing    Dubai extends precautionary measures against COVID-19 to beginning of Ramadan    Coronavirus cases continue to top 1,000 as Kuwait faces resurgence    Royal Court announces death of Prince Fahd bin Mohammad    UN Security Council condemns Houthi terror attacks on Saudi Arabia    CITC governor inaugurates international workshop on IoT technologies    KSU Medical City Participates with Medical Center to Ensure Safety of Formula E Participants    Dubai's landmarks light up in colors of Kuwait flag in celebration of its 60th National Day    HRH Crown Prince Receives Phone Call From Speaker of Iraq's Council of Representatives    SAMI Concludes Its Participation in IDEX 2021, with Key Strategic Partnerships    US carries out air strikes in Syria targeting Iranian backed militias    Hundreds of schoolgirls abducted in Nigeria, government official says    Saudi Press: SDC Aims to Invest in Infrastructure and Development of Tourism and Entertainment Sectors    Weather Forecast for Friday    KAUST solar desalination technology MEDAD wins MEED Sustainability Medal 2020    King Salman discusses bilateral ties, Iranian threats in call with US president    Saudi foreign minister discusses bilateral ties in phone call with US counterpart    CEO of Formula E highlights strong partnership with Saudi Arabia    Inaugural Red Sea International Film Festival to take place in November    CEO of Formula E Highlights Strong Partnership with Saudi Arabia    Saudi Arabia seeks to explore agricultural investment opportunities in Chile    Saudi Stock Exchange Main Index Ends Trading Higher, at 9,194.92 Points    Researchers find worrying new coronavirus variant in New York City    National Debt Management Center Issues Sovereign Bonds in Euro with Negative Return    CEO of Quality of Life Program: by hosting Formula E, Saudi Arabia confirms that it is a global center for major sports    24 Participants Representing 12 World-Class Teams to Take Part in Formula E, in Diriyah    Investigators release preliminary findings on the United Airlines flight engine failure    Saudi Arabia to Host Formula E    Focusing a lens on courage, despair and hope    World's longest painting created in Dubai to raise 110mn dirhams for coronavirus-hit kids    Meghan and Prince Harry expecting second child    Film Commission Launches 28 Cinematic Projects for Winners of Daw' Film Competition    SASCA in Dammam Sets a Deadline for Receiving Participations in International Video Art Forum    Saudi Film Commission Opens Registration Doors for Digital Filmmakers' Program    Saudi Arabia Names " Scales" Film to Represent it in Oscars    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Court facilitates young woman's marriage after stripping father's guardianship    Bahrain's top Islamic body condemns attempts to insult Muslim symbols    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    S. P. Bala, legendary Indian singer, dead at 74    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Saudi Arabia needs quicker digital transformation as COVID-19 toll mounts
Published in The Saudi Gazette on 17 - 05 - 2020

Saudi Arabia should focus on key priority digital agendas that would help navigate the COVID -19 crisis and beyond, such as telehealth, digital education, and teleworking, KPMG, a leading provider of audit, tax and advisory services in the Kingdom, said in its latest report.
"The digital transformation in these unprecedented circumstances has become a pressing necessity rather than a long-term aspiration, as it will help countries and businesses alike alleviate the impact of a looming crisis," the report said.
The latest report titled "COVID-19 as accelerator for digital transformation and the rise of the gig economy" observed that the digital transformation has become a major determinant of countries' competitiveness and a prerequisite for securing and sustaining socio-economic prosperity. More importantly, it will ensure sustainability and growth beyond the crisis.
"The digital economy has been growing 2.5x faster than the legacy economy, thereby making leading nations achieve +35% contribution to GDP from the digital economy, commented Tareq Dreiza, senior director at KPMG in Saudi Arabia.
"In pre-COVID"-19 studies, the global digital economy was expected to grow from an average of 18% in 2019 to 25% by 2025 of the global GDP. This has pushed governments to compete in devising the best digital strategies and allocating the necessary resources for national digital transformation programs," he added.
He also said that digital transformation enables businesses and organizations to grow while being efficient and resilient. It can bring several benefits that organizations can reap through robust digital plans and strategies such as agility in operation and crisis response, customer-centric culture that fosters "know-your-customer" mindset, cost-effectiveness and efficiency of operations using digitalized processes.
In Saudi Arabia, digital transformation is considered a key enabler to achieve Vision 2030, aiming to build a digital vibrant society, a digital thriving economy, and a digital ambitious nation.
Achieving these objectives can be accelerated through large-scale digital transformation programs in key sectors such as health, education, e-commerce, and culture and tourism.
"The implementation of digital transformation in Saudi Arabia has taken a phased and flexible approach. Starting with the foundations, it went into an accelerated pace while currently focusing on digital excellence.
"The past and recent digital efforts and initiatives showcase the Kingdom's strong potential to achieve the expected impact of its digital transformation programs," Dr. Ahmad Dhaini, digital transformation & strategy solution lead, noted.
"The Kingdom should also review all the policies and regulations that do not cater for the future digital world, keep enhancing the quality of digital infrastructure (e.g., Cloud, broadband access, and 5G), and accelerate the execution of national digital projects (e.g., National Digital ID) and initiatives in priority sectors," Dreiza opined.
Likewise, the gig economy in the Kingdom is expected to witness growth as important as the rest of the world, particularly in the transportation-based services (especially in the delivery service).
According to KPMG report, the development of the gig economy has been one of the top priorities of the government, as it particularly contributes to achieving one of the most important objectives of Vision 2030 — job creation. The government is particularly bullish about reducing the youth unemployment rate and on increasing women participation in the labor force.
The KPMG report noted that Saudi Arabia has taken a big leap in building its innovation and entrepreneurship ecosystem. Monsha'at has been a key player here, developing a strategy to encourage the development of co-working spaces, incubators and accelerators for the private sector.
However, much work still needs to be done, with provision for more co-sharing workspaces for independent workers. As such, this presents an opportunity to capitalize on the acquired experiences, and account for services that would focus on gig workers as well.
"The development of a robust and scalable gig economy ecosystem would allow the Kingdom to meet the future demand for gig services and would make the economy even more sustainable and resilient," Dreiza stressed. — SG

Clic here to read the story from its source.