Innovation, tech vital to meet growing consumer demands
dubai — Bolstered by the success of early adopters, companies across the Middle East and North Africa (Mena) region are today more confident about the benefits of setting out on their digital transformation journeys, experts have noted.
Speaking at a roundtable session on Tuesday, Adrian Cockcroft, vice president of Cloud Architecture Strategy at Amazon Web Services (AWS), highlighted the role of innovation and new technology in helping businesses become more efficient in meeting the growing demands of their customers. “If you are trying to go at the speed re-
customers are evolving their shopping habits in our stores all the time, so digital channels are no longer a luxury but a mandate for our customers Mohamed Fayed, Senior vice president, Omnichannel – Retail, Al Tayer Group
quired by today’s competitive economy, you need to be able to do things in days; you can’t spend months waiting for a computer anymore,” he said.
Mohamed Fayed, senior vice president of Omnichannel – Retail at Al Tayer Group, agreed with Cockcroft, and stressed the importance of maintaining the agility of deployment.
“Customers demand digital touch points in today’s age so being a customer-centric company is built into our DNA,” he said. “Customers are evolving their shopping habits in our stores all the time, so digital channels are
If you are trying to go at the speed required by today’s competitive economy, you need to be able to do things in days; you can’t spend months waiting for a computer anymore Adrian Cockcroft, VP, Cloud Architecture Strategy, Amazon Web Services
no longer a luxury but a mandate for our customers. Software as a service (SaaS), and cloud computing, are the backbone that have allowed us to deliver such spectacular capabilities to our customers.”
“The true essence of it is removing friction from the customer’s journey,” he added. “Giving them what they want, how they want it, and when they want it. The more you remove the friction and give them the freedom of choice, the better your business will be received. We use technology as a tool rather than an end just to make the customer’s life easier.”
Cockcroft revealed that there had been a gap between businesses and the actual customer, which got connected in recent years as a result of technology and disruptors in the market. “Netflix is a prime example of this; you know exactly how many people are watching, what they are watching, and what they have liked. As a result, you can give them better recommendations based on their preferences.”
However, both Cockcroft and Fayed noted that the biggest challenge in the market right now has been changing the mindset that businesses have when it comes to digital transformation through new technology, such as the cloud and artificial intelligence (AI).
“It is not just about agility anymore,” Cockcroft said. “Many businesses still believe that it is only a way for them to do things faster, but there is more to it than that. When it comes to early adopters, retail and media & entertainment will always take the lead; followed by banking & finance, and healthcare.”
Peter Sondergaard, executive vice president and global head of research at Gartner, noted that the Mena region has witnessed a continued focus on technology initiatives and improvements. He further noted that digital transformation is creating new industry revenue streams.
“In 2018, the leading segments driving IT spending growth in the region are banking and securities growing at 3.6 per cent, insurance at 2.9 per cent and retail at 2.8 per cent. IT spending in the banking sector is driven by its move into digital business and the corresponding investments in technologies such as analytics, blockchain, and AI,” he said. “Mena CIOs must embrace digital transformation. They need to build the momentum to scale and create value by amplifying the power of their people, their organization culture, and their technology platform to deliver breakthrough value.