Digital transformation remains Vision 2030’s core strategy

Digital transformation is the core strategy of Saudi Vision 2030, with Saudi companies increasingly adapting themselves to be part of the vision program.
However, unless companies adapt to digital transformation they will not know of their future, Mohammed Amin, Dell’s senior vice president for Turkey, Eastern Europe, Africa and Middle East, said at GITEX Technology Week here.
For example, according to Amin, out of 500 Fortune companies in 1950, only 20 percent will be remaining by the end of 2016.
“Firty-four percent of the companies do not know how they will look like after three years,” Amin said while speaking about Saudi Vision 2030.
Digital transformation is a key to progress as world is moving in that direction, Amin emphasized, adding: “Digital transformation is fundamentally changing the way we live, work and consume here in the Middle East and globally.”
According to Amin, new digital products and services will drive the transformation of IT infrastructure.” Dubai will be the first city in the region to implement soon li-fi which will be faster and more reliable.”
Amin said: "We’re in the midst of the next industrial revolution that will fundamentally alter the way we live, work and relate to one another. This shift will transform the way every business in every industry operates. We are already witnessing a transformation of business priorities as both the public and private sector entities across this vast region continue to invest in advanced new technologies to better meet changing customer needs and expectations."
He added: "We believe that this monumental change is rich with opportunity and we see ourselves as the transformational catalyst and partner for our customers."
Amin's speech is reportedly based on Dell Technologies Research’s (DTR) new study, which stated that 85 percent of businesses in Saudi Arabia and the UAE feel threatened by digital startups. Business leaders fear that digital startups will make their businesses obsolete within 3-5 years.
According to the study, just 4 percent of businesses in Saudi Arabia and the UAE can be classed as digital leaders; 44 percent of businesses don’t know what their industry will look like in 3 years; 85 percent of businesses consider digital start-ups a threat, either now or in the future; 59 percent have witnessed the entrance of new competitors as a result of digital technologies; and 71 percent confess digital transformation could be more widespread in their organization.
The study showed that 85 percent of businesses believe digital startups will pose a threat to their organization, either now or in the future.
This phenomenon is propelling innovative companies forward and accelerating the demise of others.
Almost half (45 percent) of businesses surveyed fear they may become obsolete in the next three to five years due to competition from digital-born startups.
Some companies are feeling badly bruised by the pace of change.
More than half (54 percent) of business leaders have experienced significant disruption in their industries over the past three years as a result of digital technologies and the Internet of Everything (IoE), and 44 percent of businesses don’t know what their industry will look like in three years’ time.
The findings result from an independent survey by Vanson Bourne of 4,000 business leaders — from mid-size to large enterprises — across 16 countries and 12 industries, including Saudi Arabia and the UAE.
The research shows that some companies have barely started their digital transformation. Many have taken a piecemeal approach.
Only a small minority have almost completed their digital transformation.
Only 7 percent of businesses surveyed are performing critical digital business attributes well.
While only parts of many businesses are thinking and acting digitally, the vast majority (71 percent) admits digital transformation could be more widespread throughout their organization.
Nearly two-thirds (63 percent) confess to not acting on intelligence in real-time.
Only 41 percent of businesses reported to meet customers top demand for better security, while only 46 percent of businesses said they can meet the demand for 24/7 faster access to services and information.
Dell Technologies’ Digital Transformation Index supplements the research and rates companies based on respondents’ perceived performance about their firms’ digital transformation.
According to the benchmark, only 4 percent of businesses in the UAE and Saudi Arabia have catapulted themselves into the digital leaders group.
Taking about cyberattacks, Mohammad Amin Hasbini, senior security researcher at Kaspersky Lab, said Cyber attacks are increasing in numbers.
“Fifty percent of users were attacked in the last three months either through USB or local network,” he says.
“Kaspersky is collaborating with government entities and law enforcement agencies with which we share information and get information about cyber attacks happening in the region,” Hasbini said at GITEX Technology Week.
“The goal of Kaspersky is definitely to help everyone get better protection and have safer environment,” Hasbini added.
According to Kaspersky Security Network, an average of 17.4 percent users in the Middle East encountered cyber attacks originating from the Internet in the third quarter of 2016.
The countries with highest percentage of users affected by these threats were Qatar (24.4 percent), the UAE (22.8 percent), Kuwait (20.1 percent ), Saudi Arabia (17.9 percent) and Egypt (17.1 percent).

Source: Arab News