Exploring The Impact Of 4IR And AI On GCC Economic Development

The Mohammed Bin Rashid School of Government (MBRSG) hosted a seminar on the Fourth Industrial Revolution's impact on GCC economies. Organised by the Economic Research Forum, it gathered experts and decision-makers globally at MBRSG headquarters in Dubai. The event aimed to explore the potential of adopting Fourth Industrial Revolution concepts and their effects on the Gulf Cooperation Council (GCC) region.

Dr. Ibrahim Elbadawi, Managing Director of the Economic Research Forum, emphasised the need for discussions on technological advancements' transformative potential. "In this era of rapid and unprecedented technological development, the Economic Research Forum offers a much-needed platform to foster constructive, policy-steering conversation on the great potential that these breakthroughs have to transform every aspect of our lives and work, and to explore the best possible solutions for channelling these advancements towards ensuring growth and development across the region," he stated.

The UAE's commitment to Industry 4.0 was highlighted by Dr. Ali bin Sebaa Al Marri, Executive President of MBRSG. He noted that the UAE's Fourth Industrial Revolution Strategy aims to position the country as a global hub for advanced technologies. This strategy seeks to enhance national economic contributions while promoting innovation and sustainability.

The first session explored Industry 4.0's role in economic growth within the GCC, focusing on energy and tourism sectors. Experts discussed how AI, IoT, Virtual Reality, and digital twins can boost efficiency and visitor experiences. Dr. Isabelle Galy from OTESIA in France introduced this session.

A session dedicated to entrepreneurship examined how advanced technologies create new business opportunities in the GCC during the Fourth Industrial Revolution. Speakers analysed entrepreneurs' motivations and readiness to adopt Industry 4.0 technologies while reviewing international best practices from emerging markets.

This session featured Sara Al Nuaimi from Sheraa; Dr. Adnane Maalaoui from MBSC, KSA; and Dr. Issam Mejri from EDC Paris. It was moderated by Dr. Virginia Bodolica from American University of Sharjah.

Smart Cities as Economic Catalysts

The seminar concluded with a discussion on smart cities' potential to drive economic growth in GCC countries. Moderated by Dr. Jihad Farah from Arab Urban Development Institute in KSA, this session examined smart city initiatives' role in enhancing residents' wellbeing.

Dr. Fateh Belaid from KAPSARC delivered an introductory talk featuring insights from his book Smart Cities before joining a panel with Dr. Boumediene Ramdani from Qatar University and Dr. Arman Eshraghi from Cardiff Business School.

Prof. Wim Naude delivered a keynote speech titled "Industry 4.0, Artificial Intelligence and Entrepreneurship." His talk underscored how these technologies could reshape business landscapes globally.

The seminar provided valuable insights into how Industry 4.0 technologies can transform various sectors within GCC countries, fostering economic growth and innovation while enhancing overall wellbeing through smart city initiatives.

With inputs from WAM