Digital transformation in Saudi Arabia to generate 100 trillion by 2025

Date

3/3/2016 1:23:25 PM

(MENAFN- The Peninsula) Khaled H. BiyariCEO of Saudi Telecom Company (STC)

Riyadh: Speaking at the Jeddah Economic Forum 2016 CEO of Saudi Telecom Company (STC) Khaled H. Biyari stressed on developing a diversified economy and explained the role of telecom operators in digitalizing the Kingdom’s economy.

"Telecoms can play leading and supportive roles in three digitalization layers to address the needs of various segments and vertical markets" said Biyari. "STC’s framework for digitalizing a nation is done through enabling several platforms ICT infrastructure and Innovation infrastructure" he was quoted by Saudi Daily Arab News as saying.

In his keynote address Biyari explained that the mobile industry is fast changing the Kingdom’s economy by introducing connected cars smart homes home 3D printers drones payments and robots. "The combinatorial effects of these technologies: Mobile cloud artificial intelligence sensors and analytics among others are accelerating progress exponentially."

Biyari stated that the global GDP for sectors is being deeply impacted by the digital shift whereas the Kingdom’s economy is also undergoing the digital economy. " 22 % of Saudi businesses are implementing or expanding cloud services 30 % of Saudi enterprises have business apps on mobile and 30 % of businesses have unified communications."

"Cloud services increase competitiveness and productivity of businesses" said Biyari. "Cloud solutions are also a major cost-reduction for enterprises delivering faster results and ensuring the flexibility and scalability for the business."

"By building scalable platforms such as Cloud Computing App Enablement M2M/IoT we offer a broad span of horizontal offerings across key vertical markets" he said. "Through cloud services and end-to-end ICT solutions STC intends to help boost the Kingdom’s competitiveness and productivity. At the same time continue to be the shaper of the Kingdom’s knowledge-based economy to drive the digital economy."

He further stated that the digital transformation of industries is expected to generate up to $100 trillion by 2025 with society set to gain more than business.

"The digital transformation of industries is an immense opportunity for the industries and the society" said Biyari. "Today’s digital startups reach a billion-dollar valuation in just 4 years while it used to take Fortune 500 companies an average of 20 years to hit the record."

He added that the digitalization in the Kingdom is driven by vertical market needs. "STC provides a broad spectrum of services and solutions through partnerships and in-house innovation."

Concluding his keynote speech Biyari explained that telecom operators are the enabling platform of the digital economy where connectivity will become increasingly the basis for knowledge. "Operators must be allowed to continuously invest in connectivity infrastructure and in order to evolve continued investments in training and education are needed and more people mobility is required."

QNA

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