Why Fourth Industrial Revolution will create plenty of opportunities
dubai — The Fourth Industrial Revolution will be creating a wealth of opportunities for businesses in the region to become more efficient, experts at the CIO Majlis highlighted.
“The Fourth Industrial Revolution is all about using the power of IT today and the technologies that are available such as smart devices and analytics, and introducing them into the manufacturing process to make things more efficient and cost effective. In Dubai, there are a lot of industries, and so lots of opportunities to become more efficient using these technologies. Manufacturing, finance and banking, and the logistics industry in particular will be the ones most affected,” said Ahmad Al Mulla, chairman of CIOMajlis.
In its 2018 edition, the CIOMajlis’ Annual Conference explored the Fourth Industrial Revolution and the vital role the UAE will play in it. Keeping sustainability and practical innovation at its core, the conference experts from both the government and private sector.
In the past two years, humans have generated 90 per cent more data than they have since the Stone Age. Everything from education, to the way society functions is being deeply influenced by technology. The fourth Industrial Revolution has caused three major paradigm shifts — phenomenal data generation, the subsequent transformation of data into intelligence, and flexible automation, experts said.
“The Fourth Industrial Revolution will change the way we live, work, and enjoy life,” said Dr Saeed Al Dhaheri, chairman of Smartworld. “There are a lot of disruptive technologies today ranging from blockchain to AI, and the Internet of Things. All of these will have a dramatic impact on the economy and society. We have to see how we can adopt these technologies to making people happy and leading to them focusing more on enriching their lives. In addition, these technologies will also be critical in cutting down costs, improving productivity, and making processes more efficient.”
One area where these disruptive technologies will have a major impact is in sustainable practices. The Dubai Paperless Strategy, a goal that Smart Dubai is committed to achieve by 2021, aims to thrust Dubai into a smarter and greener future.
Not only will the strategy impact the environment, it will also have a significant effect on citizen happiness and the economy. After calculating the potential of going paperless, Smart Dubai has involved entities like the Roads and Transport Authority, Dubai Police, and the Dubai Electricity and Water Authority in this initiative. Going completely paperless will save one billion papers annually, equal to feeding four million children and saving 130,000 trees.