UAEs Technology Think Tank has recommended better incentives as well as has driven powerful investment as well as innovation within the UAE. A highly expert and thought driven Senior executives as well as academics from UAE’s technology as well as telecom sector has known for better incentives for dynamic investment as well as innovation within the arena.
The UAE Technology arena Think Tank or thought process related future generation broadband telecom (5G) must be made accessible for many individuals as possible for aiding UAE for turning up as the next frontier or centre of excellence for technology research as well as innovation.
The decision-making committee or think tank further suggested surge in the regulatory reforms for creation of an enabled environment that can aid the innovation as well as support product development and intensify the expansion of the UAE’s tech arena. These actions are amongst few of the suggestions that are present within the initial white paper from UAEs Technology Think Tank.
Established within June by Mashreq Bank as well as the business intelligence service MEED, the firm has viewed varied opportunities for UAE in rolling out ultra-rapid 5G telecom networks. The report has given 18 suggestions, which when implemented, will be able to create a powerful environment for supporting robust, agile tech arena within UAE that aids in success for future generations.
It has as well as assessed the potential hurdles for UAE in achievement of its tech determinations and what are the stages that could be taken for overpowering the hurdles. The report also stated that the progression of 5G will be providing several prospects that can also enable innumerable latest utilization tools for building robust, dynamic technology. It also includes potential roll-out of autonomous vehicles, virtualising urban space via the amplified/practical reality, as well as the optimal utilization of wearables to progress workplace safety.
However, numerous roadblocks were also identified including the pointedly less investment into R&D when compared to major tech hubs globally. Another core hurdle is in attraction as well as retainment of core talent all due to larger cost of living as well as performing better business within the nation.
The Executive Vice-President as well as Head of Services and Manufacturing within Mashreq Bank Hind Eisa Salim stated that “The UAE has hugely invested within global-class infrastructural landscape that has been laid with much required groundwork for realization of its potential ambition of turning out as the most progressive technological frontier or hub or nation within advent of next ten years in 2030. However, alongside the massive potential to renovate the tech sector, there also exists several hurdles.
“Taking forward, their report finds that the close collaboration between government, trade and universities is hugely vital to enable the future potential of the UAE’s tech arena – as well as building a thriving national technology ecosystem that will support expansion and help achieve its smart city goals.” that requires strategic modification.
The references identified by the Think Tank centre around four vital themes including agile regulation, connecting the power of 5G, recollecting and fascinating the best talent as well as research and development.
The recommendations also had stressed upon the requirement for more collaborative relationships between the government, private sector and educational sector – which if tapped into, can aid in the diversification of the economy, promote competition, progress native domains of expertise as well as lure and raising the best industry talent within the technology sector.