Page 55 - SAMENA Trends - January 2021

ARTICLE SAMENA TRENDS

With lower latency, broadband was launched a decade ago, society’s new driving force of economic
development, and its growth rate in many
in the midst of a global recession. The
more reliability, and creation and massive growth of the countries is higher than that of the overall
greater capacity than its smartphone application sector, facilitated traditional economy.
predecessor networks, 5G by 4G, allowed businesses to step up Investing in 5G capabilities and stronger
their operations. Now consider that 5G
in particular is the engine is not only immensely fast at nearly 100 digital ecosystems in the Middle East is no
that will continue to drive times faster than 4G, but that it has 20- longer a nice-to-have. It is a must-have. In
30 times more capacity as well as being
promoting the development of the digital
digital transformation on more efficient and reliable. While 4G has economy, governments are also now
the scale needed to fuel certainly changed lives, 5G changes entire providing guidance and support through
economic recovery in the societies. capital, talent, tax policies, and other
programs, creating an environment that
Middle East. Connectivity together helps industries better apply advanced
technologies. From enhancing healthcare
Companies are not just adopting new with cloud, AI, computing, delivery to providing uninterrupted
technologies, but are further embracing and industry applications education to students, to enabling
technologies that were already gaining will augment business seamless access to essential public
traction before the pandemic. According and private sector services, investment
to one recent IDC forecast, 60% of global operations across all in digital infrastructure and the digital
gross domestic product will be digitized by sectors, creating greater economy can provide tremendous returns
2022. In this sense, the “digital economy” on investment in 2021 and beyond.
goes beyond traditional definitions and accessibility as well as
just the ICT sector. It now refers to a broad generating new revenue Investing in 5G capabilities
range of economic activities that use and stronger digital
digitized infrastructure and knowledge streams and even sparking
as key factors of production and value novel industries that have ecosystems in the Middle
creation. Core infrastructure powered by yet to be invented. East is no longer a nice-to-
AI and 5G, for example, is built to quickly have. It is a must-have. In
leverage new, ever-expanding digital
applications in different sectors. These If 4G enabled the mobile application promoting the development
are being integrated into core production revolution that helped to elevate businesses of the digital economy,
processes and management systems to out of an economic depression, then the
improve efficiency and competitiveness. many advantages of 5G will open the gates governments are also now
to the most incredible transformation providing guidance and
With lower latency, more reliability, and of our society that we have yet to see.
greater capacity than its predecessor Connectivity together with cloud, AI, support through capital,
networks, 5G in particular is the engine computing, and industry applications will talent, tax policies, and
that will continue to drive digital augment business operations across all other programs, creating
transformation on the scale needed to sectors, creating greater accessibility as
fuel economic recovery in the Middle East. well as generating new revenue streams an environment that helps
To really understand the potential of 5G and even sparking novel industries that industries better apply
as an enabler of economic growth, we have yet to be invented. It is for this reason
need only look back to when 4G mobile that the digital economy is becoming advanced technologies.

55 JANUARY 2021