Adoption,Companies in Saudi Arabia are making strides in adopting cutting-edge technologies compared to their global counterparts, according to a report by KPMG. The report shows that around 80% of enterprises in the kingdom are at an advanced stage of their digital transformation strategies, positioning them well to adopt new technologies. Although 41% of the respondents agreed that progress is slower than expected, Riyadh’s digital transformation programmes are keeping companies on the same level as their counterparts. The study also reveals that Saudi Arabia has introduced several projects that promote the use of technology to prepare for future economic growth.
The implementation of digital solutions for years positively impacted the bottom line of Saudi companies, according to the report. The global digital transformation market is projected to valued at about $3.95tn by 2030, increasing at a compound annual rate of more than 23%, from about $608bn last year. Sector-wise, it shows that Saudi companies are having command in the metaverse areas, pressing further ahead than their global peers, with 22% of respondents claiming they already implemented the technology, compared to the 10% global average.
Positive returns are also reflected in the adoption of cloud technology, particularly when it comes to total cost of ownership and efficiency gains. Furthermore, 35 per cent of businesses surveyed said they were highly satisfied, having fully met or exceeded objectives and realised a substantial return on investment. The technology is expected to gain more traction, particularly with Microsoft, Oracle, and Huawei announcing billions of dollars worth of cloud investments at Leap.
Although Saudi businesses lead the way in technology adoption, the report highlighted that the largest challenge they face is a lack of digital talent. About 41% of respondents confirmed that a lack of skilled talent remains their most significant hurdle. However, the government is helping companies to develop this talent. At Leap, the National Technology Development Programme launched the $78 million Tech Crew, which supports the recruitment of technology employees by offering salary subsidies.
The report concludes that Saudi Arabia’s businesses continue to demonstrate a commitment to developing their own talent and investing in technology to retain its position as a tech-savvy leader globally.
عبدالرحمان زمین پیما
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آرمان جعفری
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