Adopting emerging technologies in a post-Covid-19 world

Adopting emerging technologies in a post-Covid-19 world

By Jad Hajj, partner, Imad Atwi, Jean Salamat, principals, and Riazul Raquib, senior associate, with Strategy& Middle East, part of the PwC network

In response to the Covid-19 pandemic, governments and companies throughout the world have been forced to accelerate the adoption of emerging technologies to mitigate its impact. They understand that such technologies can alleviate future economic upheavals. GCC governments, together with regional technology and telecom companies, should follow suit. They should adopt a structured and phased approach to digital transformation, take the necessary steps to turn theory into reality, and then collaborate to build a robust ecosystem that supports this transformation.

The GCC regional economy is suffering from a dual shock, the Covid-19 pandemic and lower oil prices. Before the dual shock, GCC countries were part of a global trend to increase technological investment in such areas as artificial intelligence (AI), blockchain, and robotics. The search for means of managing the economic and societal problems arising from the pandemic has intensified the trend toward emerging technologies. Once countries have resolved immediate problems, they need a fundamental digital transformation to sustain long term growth and soften the blow of any economic shocks. Organisations that do not prioritise digital transformation will quickly