Designing innovation • Chapter summary
n its 2018 Dubai Innovation Index report, the Dubai Chamber highlights innovation as the growth-driving and shock-absorbing force; something that needs to be embedded into a city’s culture. Amidst the backdrop of a pandemic causing a significant, unforeseen shock to national economies, this notion could not be more relevant. Fortunately for the UAE, they are better equipped for this shock and more agile in response. Indeed, the UAE has one of the highest levels of ICT adoption in the world, coming in at number six. And the Emirate’s and UAE’s several plans for digital transformation and industrial revolution are awarded even more emphasis in the wake of the coronavirus outbreak. Now more than ever, technology and innovation are a part of our overarching theme permeating every area of the economy.
Comparable to no other place in the world, perhaps the biggest advocate for innovation and technology is the government. Under the Emirates Blockchain Strategy 2021, the government aims to transfer 50% of its transactions to the blockchain platform. And smart city and smart government initiatives, many of which fall under the Dubai Future Foundation’s 10X program to embrace disruptive innovation, drive all economic players. Smart Dubai Department, the Mohammed Bin Rashid Space Centre, and Digital DEWA stand out as leaders in this sphere.
Further supporting the public sector’s prominence in this regard is Henrik von Scheel, often called the originator of the Industry 4.0 concept. In von
IScheel’s own words for an exclusive TBY interview, “Important to understand, is that Dubai’s Industry 4.0 has to be carefully designed, and if designed successfully, can offer a model made in the UAE for the world. It requires that government, financial institutes, and businesses work together in a closed-door room to proactively create it—not buy or react to it.”
And to be sure, businesses are up to the task. SAP, a premier partner for Expo 2020 ready to enhance visitors’ onsite experience, took major steps with its data center in Dubai. Dubai’s reputation as the first mover in several spheres and SAP’s unique value proposition regarding business innovation create the bedrock of a fruitful partnership.
While Dubai has succeeded in attracting large multinational companies, rounding out the business landscape are SMEs. Making recent headlines and drawing attention to the start-up scene, the region’s unicorns, Careem and Souq.com, came from Dubai. Both were recently acquired: Careem, acquired by Uber, will keep its brand identity, but Souq.com has rebranded as Amazon. However, these are just two examples of Dubai’s more than 1,230 tech start-ups.
This is founded on the country’s strong telecommunications and internet networks. The Telecommunications Regulatory Authority has been tasked with making the UAE one of the top-10 countries in terms of networked readiness, a measurement that captures a countries ability to capitalize on opportunities provided by ICT. Across the board, AI, IoT, blockchain, and big data are shifting operations and accelerating change. ✖