(MENAFN- Khaleej Times) While there has been an increased focus on companies across the Middle East accelerating their plans towards digital transformation, new research has revealed that the digital transformation maturity level is not uniform across industries.
In its Digital Change Survey, IFS found that 43 per cent of respondents in the Middle East consider their business to be in the two highest levels of digital transformation maturity on a five-graded scale. The aviation industry is the most progressive with 44 per cent of respondents considering themselves advanced in their ability to leverage digital transformation. The runner up is the construction and contracting industry, 39 per cent of whom identified themselves as mature. At the other end of the spectrum is the oil and gas sector, where only 19 per cent of the respondents consider themselves able to benefit from digital transformation.
"It is apparent that companies today understand the urgency of focusing on digital transformation," said Antony Bourne, vice president of global industry solutions at IFS. "Technologies such as big data and analytics, enterprise resource planning and internet of things are paramount to transforming a business. Companies need to apply innovative technologies hand in hand with their relevant industry expertise to succeed and gain a competitive edge. It is this combination that makes digital transformation both meaningful and powerful."
"The differences in digital maturity levels across industries are notable," he added. "The highly competitive nature of the aviation industry, together with its rapid adoption rate of new technologies such as predictive maintenance and 3D printing for spare part manufacturing, are key drivers of its successful digitalization."
Nearly 87 per cent of respondents in the Middle East have 'adequate' or 'advantageous' funding for digital transformation, indicating a strong willingness to invest and an appetite to evolve their business in order to stay competitive and grow. When asked about prioritised investment areas, the top three choices were IoT, ERP, and Big Data & Analytics. These are reflected by the Middle East respondents with Big data & Analytics leading with 52 per cent followed by ERP and IoT at 39.5 per cent each.
"In the Middle East, we are seeing a heightened awareness for digital transformation in the GCC especially UAE and Saudi Arabia who have begun implementing Smart City strategies but there is still a large gap between awareness and implementation," said Luis Ortega, managing director for the Middle East, Africa and South Asia region at IFS. "We are seeing a lot of changes being driven from the top down, especially in the UAE where there is an ambitious strategy to be paper-free by 2020."
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Rohma Sadaqat I am a reporter and sub-editor on the Business desk at Khaleej Times. I mainly cover and write articles on the UAE's retail, hospitality, travel, and tourism sectors.Originally from Lahore, I have been living in the UAE for more than 20 years. I graduated with a BA in Mass Communication, with a concentration in Journalism, and a double minor in History and International Studies from the American University of Sharjah.If you see me out and about on assignment in Dubai, feel free to stop me, say hello, and we can chat about the latest kitten videos on YouTube.
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