Day one of the Economic Research Forum explores impact of Fourth Industrial Revolution and Artificial Intelligence on the development of cities

Dubai, UAE – 15 October 2024 – Hosted by the Mohammed Bin Rashid School of Government (MBRSG), the ‘The Potential of the Fourth Industrial Revolution on the Economic Transformation of GCC Countries’ seminar, organised by the Economic Research Forum, launched today at the MBRSG headquarters in City Walk, Dubai, bringing together experts and decision makers from the region and around the world.

The event aims to foster a comprehensive understanding of the prospects for adopting Fourth Industrial Revolution (Industry 4.0) concepts, and their potential impact on the future of the Gulf Cooperation Council (GCC) region. It brings together speakers with extensive regional and international expertise and knowledge, to engage in in-depth and specialised discussions on the expected implications of the Fourth Industrial Revolution, with a focus on smart industries, smart cities, entrepreneurship, and the advanced labour market.

Day one of the seminar kicked off with an opening session bringing together Dr. Ibrahim Elbadawi, Managing Director of the Economic Research Forum; His Excellency Dr. Ali bin Sebaa Al Marri, Executive President of MBRSG; Dr. Abdallah Al Dardari, Assistant Secretary-General and Director of the United Nations Development Programme (UNDP) Regional Bureau for Arab States; and H.E. Dr. Fahad Alturki, Director General Chairman of the Board at the Arab Monetary Fund. The session was moderated by Dr. Hassan Aly, Chairman of the Board of Trustees of the Economic Research Forum.

“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,” said Dr. Ibrahim Elbadawi, Managing Director of the Economic Research Forum.

For his part MBRSG Executive President Dr. Ali bin Sebaa Al Marri noted: “We believe in the importance of maintaining communication and collaboration with specialised and renowned entities, research centres, and leading academic institutions around the world. This includes the Economic Research Forum, which we are currently hosting at our headquarters in the Emirate of Dubai. Our ambitions for our respective organisations align with one another, as do our goals, and our commitment to providing leading platforms to explore the latest trends in the global economy, discuss their impact on the region, and generate constructive recommendations and takeaways.”

H.E. Al Marri highlighted the importance of the Forum’s topic, the Fourth Industrial Revolution, noting that the UAE has a vested interest in it and strives to explore strategies for implementing it across various fields and sectors, in line with the country’s vision. “The UAE launched its Fourth Industrial Revolution Strategy, designed to strengthen the country’s position as a global hub for Industry 4.0 technologies, enhance their contribution to the national economy, and promote innovation and future technologies,” H.E. explained. “The strategy also aims to establish the UAE as an international model for adopting advanced technologies to serve society and promote happiness and sustainability.”

The first session of the day discussed the potential of Industry 4.0 and Artificial Intelligence in fostering economic growth and diversification in the GCC. Speakers focused on the energy and tourism sectors, examining how technologies like AI, the Internet of Things, Virtual Reality, and digital twins can enhance efficiency, sustainability, and visitor experiences.

Dr. Isabelle Galy from the Observatory of the Technological, Economic, and Social Impacts of Artificial Intelligence (OTESIA) in France, delivered the introduction talk, which was followed by a panel discussion bringing together Dr. Lanouar Charfeddine from Qatar University; Dr. Sarah Najm from the Newcastle University Business School; Dr. Saoussen Ben Romdhane from the International Trade Centre; and Dr. Nizar Jouini from the Doha Institute in Qatar. The discussion was moderated by Dr. Sama Mbang from the Mercedes Smart Factory at Carlsruhe University.

The agenda continued with a session on entrepreneurship in the era of the Fourth Industrial Revolution in the GCC, where speakers analysed the current situation of the entrepreneurship environment in the GCC and its development in the midst of the Fourth Industrial Revolution. The session sought to explore how advanced technologies provide new business opportunities and drive innovation, moving on to analyse the motivations and goals of entrepreneurs in the region, and their readiness to adopt Industry 4.0 technologies.

On the same note, the discussion highlighted the success factors necessary for entrepreneurs, reviewing international best practices in the field of smart factories in emerging markets and BRICS countries, which can provide inspiring insights and lessons for the GCC countries to enhance the entrepreneurship environment.

The session was moderated by Dr. Virginia Bodolica from the American University of Sharjah, and featured H.E. Sara Al Nuaimi, CEO of the Sharjah Entrepreneurship Centre (Sheraa); Dr. Adnane Maalaoui, from the Prince Mohammed Bin Salman College of Business & Entrepreneurship (MBSC), KAEC, KSA; and Dr. Issam Mejri from EDC Paris.

The seminar’s activities continued with a keynote speech delivered by Prof. Wim Naude from Aachen University, the African Studies Centre (ASC) at Leiden University, the International Security and Development Centre (ISDC), and the University of Johannesburg, titled ‘Industry 4.0, Artificial Intelligence and Entrepreneurship’.

Day one of the seminar concluded with a session on the potential of Smart Cities in fostering economic growth and wellbeing in GCC countries, moderated by Dr. Jihad Farah from the Arab Urban Development Institute in KSA. The discussion sought to examine the potential of smart and sustainable cities to serve as catalysts for economic growth and to enhance the wellbeing of residents in GCC countries, exploring various aspects of smart city initiatives.

Dr. Fateh Belaid from the King Abdullah Petroleum Studies and Research Centre (KAPSARC) in Saudi Arabia, took part in the session, delivering an introduction talk that included a presentation of the book ‘Smart Cities’. Dr. Belaid then joined a panel discussion that also featured Dr. Boumediene Ramdani from Qatar University and Dr. Arman Eshraghi from Cardiff Business School.

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