14 Jun IDC to Explore Saudi Arabia’s Digital Economy at CIO Summit
Spurred by a growing influx of foreign direct investment and a $7 trillion development plan for the Kingdom’s giga projects, ICT spending in Saudi Arabia is poised to top $34.5 billion this year.
The government sector will be the country’s biggest IT spender in 2023, with spending on AI, IoT, cybersecurity, and big data analytics alone set to exceed $574 million as innovative technologies become foundational to the aim of building an ‘Experience Economy’.
Finance, communications, energy and resources, and manufacturing will be the Kingdom’s other top spenders in 2023, although the fastest growth over the next five years will be seen in the healthcare, finance, retail/wholesale, professional services, and education sectors.
“To harness the full potential and widespread benefits of the digital economy, governments and businesses must implement strategies to measure and cultivate it … Creating regulatory environments and nurturing talent will be critical to success,” says Jyoti Lalchandanik, , IDC’s group vice president and regional managing director for the Middle East, Türkiye, and Africa.
Such issues will sit at the heart of the agenda during this year’s IDC Saudi Arabia CIO Summit, which will take place at the Fairmont Riyadh on September 13-14. Addressing the theme ‘Enabling the Digital Economy’s Leaders’, the event will bring together the Kingdom’s foremost IT and telecom leaders, digital government pioneers, regulators, and industry thought leaders. Expert speakers will assess the current state of the digital economy, evaluate its ongoing impact on citizens, customers, employees, and operations, address key challenges, and outline proven best practices and strategies to drive future success.
The agenda will also feature a series of dedicated CIO-led panel sessions and technology focus groups.