Riyadh’s Digital Transformation Revolution
In a rapidly evolving digital landscape, the push for transformative strategies has become a cornerstone for businesses across Saudi Arabia, according to a top PwC Middle East executive.
The Role of Digital Technologies in Saudi Arabia’s Growth
Following the launch of the firm’s latest report – “Digital acceleration: Fueling the ambition for transformation success in Saudi Arabia” – Marwan Khamis, a partner at PwC Middle East, emphasized to Arab News the pivotal role of emerging digital technologies in achieving sustainable growth and strategic objectives for organizations within the Kingdom.
AI and Transformation Initiatives
Khamis highlighted that organizations are actively pursuing transformation initiatives at the halfway mark to Saudi Vision 2030, with a keen focus on leveraging emerging technologies like generative artificial intelligence, referred to as GenAI, to enhance decision-making, efficiency, resource utilization, and compliance.
GenAI: Automating and Streamlining
GenAI offers significant promise in automating routine tasks and streamlining project management processes, liberating organizations to concentrate more on strategic growth initiatives and cultivating robust client relationships.
Challenges and Opportunities
Resource availability and timely decision-making emerged as the primary challenges for C-suite executives, cited by 90 percent of respondents, a fact that can be supplemented through the use of emerging technologies. Overcoming these hurdles requires a strategic approach that embraces technological advancements while addressing cultural and economic factors.
Project Management as a Key Driver
Khamis highlighted the critical importance of project management in the transformation journey of entities, emphasizing the need for advancement among Middle East CEOs to transform their businesses within the next few years.
Strategies for Successful Transformation
Khamis outlined the most result-proven strategies based on PwC research, focusing on fostering a positive work culture and the adoption of digital solutions within the transformation journey.
Quality Execution for Successful Transformation
As Saudi Arabia nears the 2030 mark, quality execution has become paramount in achieving successful transformation across both public and private sectors, with digital innovation driving operational efficiency, innovation, and long-term success in the Kingdom’s dynamic business environment.