IDC Saudi Arabia CIO Summit will run under the theme ‘Enabling the Digital Economy’s Leaders’
Ranjit Rajan – VP of Research at IDC (META)
Teletimes: This year’s IDC Saudi Arabia CIO Summit will run under the theme ‘Enabling the Digital Economy’s Leaders’. What’s the current state of the digital economy in the Kingdom?
Ranjit Rajan: Saudi Arabia is on an accelerated digital journey, with the government digitalizing services and implementing national development plans that will generate benefits for both the country’s public and private sectors.
While the digital world has become the norm for most industries and organizations, the process of digitalization is gathering pace in Saudi, and the digital economy will be a powerful engine for enabling industry transformation and facilitating high-quality economic growth.
The 13th annual edition of the IDC Saudi Arabia CIO Summit will provide a unique platform for ICT decision makers and industry experts from across the Kingdom to explore the current state of the digital economy, its impact on citizens, customers, employees, and operations, and the key challenges that must be addressed.
TT: What kind of topics will this year’s agenda focus on?
RR: Featuring expert insights from the region’s leading technology providers and foremost end-user ICT leaders, the agenda will address topics such as sustainability, cloud, AI, cybersecurity, Industry 4.0, and digital transformation. And since the role of the modern CIO is continually evolving, there will be a particular focus on what CIOs need to do now and in the future to create an environment for long-term sustainable innovation.
TT: What are the key trends that digital leaders should be aware of?
RR: CIOs and tech leaders across the Kingdom are doubling down on digitalization and increasingly embracing a digital-first approach as they look to accelerate their digital transformation initiatives. 52% of CIOs surveyed recently by IDC in Saudi Arabia said that they are now focused on changing or adapting their existing business models into digital business models, reflecting the increasing adoption of a “digital-first” mindset.
TT: How can organizations in Saudi Arabia best position themselves to thrive in the new digital business environment?
RR: To thrive in this new world, a digital-first mindset is essential. Digital will continue to be a competitive requirement, and spending on digital technology by organizations worldwide will grow eight times the economy in 2023, establishing a foundation for operational excellence, competitive differentiation, and long-term growth.
Many organizations are rapidly transitioning from “digitally transforming” to “running a digital business”. For the medium term, they should look to scale their digital business initiatives; automation will be critical in this regard, particularly IT automation, process automation, and value stream automation.
And for the long term, they need to anticipate and plan for an emerging new tech order that will be characterized by disruptive tech trends such as sustainability, electrification, digital currencies, extended reality (including the metaverse), generative AI, and voice-driven customer and employee engagement.
