ABU DHABI, 20th March, 2018 (WAM) — A UAE newspaper has said that Digitisation has taken global economies by storm.
“Smart technology is fast reshaping the future of the world. The “man and machine” debate is intensifying by the day. Lethargy cannot be an option anymore when it comes to digital transformation,” said the Gulf Today in an editorial today.
“Thankfully, the UAE has not only recognised the tremendous power of technology, but also pressed the “smart” key well ahead of others. The impressive results are already showing”, the paper added.
It quoted a report by Al Masah Capital Limited titled, “Digital Banking – ME Trends,” which found that the UAE is leading the Middle East and North Africa (MENA) region, with an impressive 16.4 percent in digital penetration.
“The MENA region offers promising opportunities for banks and other financial institutions, with UAE and Saudi Arabia emerging as two of the most active markets in the development of a digital ecosystem. The region enjoys a large millennial population, which is expected to further drive the future of digital banking industry,” the editorial explained.
“All sectors are well geared up to embrace digital transformation. For example, the world’s first automated, artificial-intelligence-powered renewable energy digital utility is set to be established in Dubai,” it said.
The paper noted that the utility is proposed by the Dubai Electricity and Water Authority (DEWA) for the Dubai 10X Initiative, is “an ambitious venture overseen by the Dubai Future Foundation. DEWA is pioneering a new model of utility services leveraging innovation in renewable energy, energy storage, artificial intelligence, and digital services.”
It went on to say that “On the healthcare front, the Dubai Health Authority has geared up to showcase some of the latest innovations. This includes Dubai Genome, which aims to map the genomes of the entire population (including residents) and use artificial intelligence to analyse genetic data to change the face of medical care through personalised medicine and prior detection of individuals at risk.
“The Roads and Transport Authority in Dubai processed 547,461 online transactions relating to vehicle licensing services in 2017. The transactions have been handled via smart channels and are part of RTA’s strategic plans for transformation of all services under the Smart City initiative.”
In another interesting development, the paper said, the National Emergency, Crisis and Disasters Management Authority recently launched the first stage of the “National Early Warning System,” by adopting a unified electronic system and activating a feature to send warning messages through telecommunications networks, to reach the general public through their mobile phones.
“In a fast-changing world, digital adoption is a must and it is heartening that the UAE is far ahead of others on this front,” it concluded.