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With ICT spending in Saudi Arabia poised to top $34.5 billion this year, International Data Corporation (IDC) today hosted more than 1,000 of the Kingdom's most influential tech leaders and partners at Riyadh's Fairmont Hotel for the final day of its IDC Saudi Arabia CIO Summit 2023. The two-day event provided a unique platform for senior business and IT heads, prominent technology companies, and respected industry analysts to share their collective expertise around the theme 'Enabling the Digital Economy's Leaders'.
"To harness the full potential and widespread benefits of the digital economy, governments and businesses must implement strategies to measure and cultivate it," says Jyoti Lalchandani, IDC's group vice president and regional managing director for the Middle East, Türkiye, and Africa. "Creating regulatory environments and nurturing talent will be critical to success. Today, technology plays an ever-increasing role in enabling, measuring, and reporting on sustainability initiatives and diversity and inclusion drives, with government and business leaders prioritizing these issues on their digital agendas."
This year marked the 13th annual edition of the IDC Saudi Arabia CIO Summit, with the event exploring the current digital landscape and evaluating its pervasive impact on citizens, customers, employees, and operations. IDC’s associate vice president for Saudi Arabia and Bahrain, Hamza Naqshbandi, opened the day's proceedings by praising the progress that has been made on the Kingdom's digital journey.
"Saudi Arabia's digital economy ambitions are a testament to the nation's unwavering commitment to embracing the future," said Naqshbandi, IDC’s associate vice president for Saudi Arabia and Bahrain. "With over 52% of Saudi organizations transitioning their traditional business models into a digital business approach, the Kingdom is not merely adapting to the new digital world but setting the pace, leveraging the potential of disruptive technologies to revolutionize industries, empower its populace, and propel economic advancement."
IDC's chief research officer, Meredith Whalen, presented the event's keynote, 'Strategies for the CIO and Enterprise Innovation: AI Everywhere', during which she provided essential guidance for organizations preparing for the looming omnipresence of generative AI (GenAI).
"In less than a year, GenAI has captured the attention, imagination, and trepidation of technology and business leaders across the world," said Whalen. "However, GenAI is just one part of a broader digital journey that organizations have been on over the past decade. At each stage of this digital journey, new leadership skills have been required to drive the evolution of business models, culture, and technology investments. This new chapter will intensify these demands, with CIOs increasingly playing a key strategic role in driving enterprise-wide growth and creating an environment for long-term sustainable innovation."
A lineup of respected expert speakers assessed the current state of the digital economy, addressed key emerging tech-related challenges, and outlined proven best practices and strategies for driving future success. |
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