Cloud-based innovation sparks technology revolution in the MENA region

The Middle East and North Africa (MENA) region is witnessing a technology revolution, with cloud technology playing a crucial role in driving innovation and growth. Cloud-based innovation is enabling organisations to create new products and services, enter new markets, and compete on a global scale. Furthermore, government policies and initiatives are supporting cloud-based innovation and digital transformation in the region, creating new opportunities for economic growth and competitiveness.

Revolutionising business operations

The adoption of cloud-based innovation is revolutionising the way organisations operate by providing them with access to vast amounts of data and computing power. Global research and analyst firm Gartner anticipates that the cloud market will be twice the size of the non-cloud IT market by 2025.

Cloud-based solutions are empowering organisations to utilise technologies such as artificial intelligence and machine learning to create personalised products and services. In addition to this, cloud technology is also helping businesses to scale quickly and reach new markets, thereby improving their overall competitiveness in a global market.

Businesses, especially startups and SMEs with limited budgets, are finding that utilising solutions delivered through the cloud can be a more cost-effective option. By reducing costs in this way, companies can allocate their resources to other critical areas such as product development, marketing, and customer service, which can help boost their competitiveness in the market.

The adoption of cloud-based innovation is, therefore, not only a necessity for meeting the demands of the MENA region’s youth, but it is also a crucial tool for businesses to thrive in an increasingly competitive global market.

Cloud innovation boosts multiple sectors

Cloud-based technology is not only a cost-effective solution for businesses with limited budgets, but is also transforming various sectors in the MENA region. The market for cloud computing is anticipated to grow to $31.4bn by 2026, according to a report published by Markets and Markets .

Multiple sectors in the MENA region are benefiting from cloud-based innovation, with the healthcare sector leveraging cloud technology to improve healthcare access and quality across the region, providing better health outcomes. Similarly, the financial sector is developing innovative financial products and services, such as digital payments, online banking, and blockchain technology. First Abu Dhabi Bank (FAB) has taken a cloud-first approach as one its fundamental principles of its technology strategy.

Meanwhile, the transportation sector is also experiencing significant transformation through cloud-based innovation. Cloud technology is enabling the development of connected and autonomous vehicles, revolutionising the transportation industry. Additionally, cloud-based solutions are facilitating the development of smart cities and transportation networks that are more efficient, safe, and sustainable.

Governments supports cloud innovation

Governments across the region are investing in policies and initiatives that support cloud-based innovation and digital transformation. For instance, the UAE’s Vision 2021 is a comprehensive strategy that aims to transform the country into a knowledge-based economy, leveraging technology to drive economic growth and competitiveness. Similarly, the Saudi government has launched the Vision 2030 strategy, which aims to diversify the country’s economy, reduce dependence on oil, and create new opportunities for economic growth and competitiveness.

Governments in the MENA region are also investing in infrastructure and talent development to support cloud-based innovation and digital transformation. For instance, the UAE has developed advanced technology parks, such as Dubai Internet City, Sharjah Research Technology and Innovation Park and Hub71 that provide a supportive environment for technology companies to develop and scale their businesses. Similarly, the Saudi government has invested in the development of a technology hub, the King Abdullah Economic City, which aims to attract technology companies to the region and create new opportunities for economic growth and competitiveness.

Future outlook

It is no longer sufficient to simply run applications in the cloud today. It is essential to remember that while the cloud facilitates innovation, it is people who complete the work. For businesses to maximise their cloud investments, outpace competitors, and prepare for the future, they must equip their workforce with the appropriate cloud skills and retain the top tech talent.

As we look to the future, it is crucial that the private and public sectors continue to collaborate to promote a culture of innovation and entrepreneurship in the region. This collaboration should also prioritise investment in education and training programs that equip young people with the skills needed to succeed in the digital economy, as well as support for start-ups and small businesses that are driving innovation and job creation in the region. By doing so, we can ensure that the MENA region remains at the forefront of cloud-based innovation and digital transformation, driving economic growth and competitiveness for many years to come.

Yasser Hassan is the managing director – Commercial Sector – MENAT at AWS

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