Arabian Business English

The age of talentism in a digital world

Nurturing talent is key to futureproo­fing business

- BY ALI SAJWANI, GENERAL MANAGER OF OPERATIONS AT DAMAC AND CEO OF D-LABS

Talent is becoming the new capital and the core of a rising economic system that puts a premium on human resources as the driver of a more sustainabl­e, new future world order.

As a concept, talentism was first coined by the founder of the World Economic Forum (WEF), Dr Klaus Schwab who, at the opening of popular event in Davos in 2013, asserted that talent was going to supplant capital as the primary driver of production in the future.

Schwab urged the world to recognise that entreprene­urship is actually the essence of capitalism today and while capital was the most important factor for success when capitalism was created, it is no longer the case. He emphasised that it was “no longer appropriat­e” to call today’s

economic system capitalism but it is now rather based on “talentism,” which has a particular emphasis on innovation.

While Schwab was onto something big, perhaps he underestim­ated just how integral technology would be to this new world order. I have always been a vocal advocate that technology is no longer the driver of business nowadays – it is the business.

Talented tech minds

That is why, at DAMAC, we believe that attracting and nurturing the right tech talent will help future-proof the company and keep it relevant in the medium to long-term future. DAMAC’s investment in new technologi­es such as robotic

process automation, virtual reality, cloud data platforms, Internet of Things, artificial intelligen­ce and mobile solutions, among others, to develop a Total Experience (TX) strategy have not only helped improve and streamline customer experience, but also have attracted top tech talent to want to work with us and the exciting new technologi­es we are implementi­ng.

I am proud to be leading DAMAC’s Informatio­n Technology team which has bagged multiple awards for its achievemen­ts in digitisati­on, including best transforma­tive project in real estate for our one-stop-shop community app implementa­tion, DAMAC Living.

The app is just one example of how innovation can enhance customer experience and glean greater value from digital technologi­es.

Metaverse and cryptocurr­ency

This commitment and drive to stay on top of tech trends has been my personal objective. Seeing way into the future and trying to capitalise on opportunit­ies before the herd, we recently establishe­d D-Labs – a company that aims to build its own digital cities in the metaverse, becoming one of the pioneers in the GCC to do so.

While we have been a pioneer of digitisati­on for a while now, the past two years we have doubled down on our digitisati­on efforts, and this new initiative into the metaverse will only further leverage our digital footprint. As well as updating our systems, processes and operations across department­s, we have been investing in building a strong team of skilled and talented experts to help support our ambitions of being a digital leader.

Another exciting announceme­nt made this year was the facilitati­on of Bitcoin and Ethereum for property sales. We believe the purchase of property through cryptocurr­ency will revolution­ise the future of real estate and provide convenienc­e to real estate investors worldwide.

So here, we see just how much technology adds value to our operations, by giving our customers even more options for transactio­ns – making it easier and more seamless.

People remain integral

With these revolution­ary initiative­s towards a futuristic digital world, I am excited for the road ahead and it is imperative we recruit and attract the sharpest tech minds from around the world to help us realise our ambitions.

While technology and digitisati­on continue to drive businesses forward, I believe that people and process remain at the centre of operations and I am working hand in hand with our award-winning talent acquisitio­n here to ensure we have the right human capital to take DAMAC into the future.

q WE BELIEVE THE PURCHASE OF PROPERTY THROUGH CRYPTOCURR­ENCY WILL REVOLUTION­ISE THE FUTURE OF REAL ESTATE AND PROVIDE CONVENIENC­E TO REAL ESTATE INVESTORS WORLDWIDE”

 ?? ?? u Biggest asset Attracting and nurturing the right tech talent will help future-proof DAMAC, Sajwani says
u Biggest asset Attracting and nurturing the right tech talent will help future-proof DAMAC, Sajwani says
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 ?? ?? uInsights Dr Klaus Schwab, founder of the World Economic Forum (WEF) (above, left), and Ali Sajwani, General Manager of Operations at DAMAC
uInsights Dr Klaus Schwab, founder of the World Economic Forum (WEF) (above, left), and Ali Sajwani, General Manager of Operations at DAMAC
 ?? ?? uTransacti­on DAMAC enabled the use of cryptocurr­encies for property sales
uTransacti­on DAMAC enabled the use of cryptocurr­encies for property sales

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