An IT expert says that those who fail to take their business onto a digital platform are in danger of losing their competitive edge.
Altaf Alimohamed, Managing Director of Cobweb Solutions UAE cited a recent study from MIT Center for Digital Business suggesting businesses who implement a digital transformation strategy are likely to be 26 per cent more profitable than their industry peers.
“There is no stopping the digital world. The Fourth Industrial Revolution is now. It’s crucial that IT firms are equipped with leading-edge solutions and high-impact counsel to help leaders across all sectors migrate business operations, and start this now,” said Mr Alimohamed.
“The UAE is a particularly interesting example where the government is ahead of the game, beating the private sector in the digital transformation stakes,” he added.
He notes in many markets it is usually private organisations who are fast to embrace the advantages of the digital age. “Generally, the government IT infrastructure is lagging way behind the private sector. This is not the case in the United Arab Emirates. Dubai’s e-government initiative kicked off in 2009 and is now so well embedded nationwide, it is as a global showcase.”
However, Alimohamed warns that it is the UAE’s private sector that has some swift catching up to do. “Local business of all shapes and sizes need to do more than think about digital, they must act now. This is especially so with new guidelines, like VAT, coming on stream. A secure, nimble digital network allowing seamless connectivity, information storage, as well as easy access to business-relevant data is crucial,” he stressed.