Digital Technologies Crucial for Transformative Growth in Saudi Arabia, Says PwC Report

A futuristic cityscape of Riyadh, Saudi Arabia, showcasing advanced digital technologies. The scene includes elements like data streams, digital network

Emerging digital technologies are essential for achieving transformative strategies and sustainable growth for organizations in Saudi Arabia by enhancing decision-making, efficiency, resource use, and compliance, according to a new report.

The report, titled ‘Digital Acceleration: Fueling the Ambition for Transformation Success in Saudi Arabia’ by PwC Middle East, surveyed Saudi executives leading transformation strategies to identify the most significant implementation challenges.

Transformation and Technology Adoption

At the halfway mark to Saudi Vision 2030, organizations in the kingdom are actively pursuing transformation by embracing emerging technologies such as Generative AI (GenAI). They are also focusing on building climate resilience and improving energy efficiency, the report notes.

Key Challenges

PwC Middle East’s survey results highlight that 90% of respondents identified resource availability and timely decision support as the main challenges for transformation. Other challenges include resistance to change (80%), data availability (70%), resource capability (55%), time and digital limitations (50%), and financial constraints (30%). Additionally, the need for skilled labor, cultural barriers, and global economic fluctuations influence the pace and scale of transformation.

The Role of GenAI

Danny Karam, Transformation Management Unit – Digital & Technology Lead Partner at PwC Middle East, emphasized the importance of effective transformation strategies. “As the Kingdom and the wider region pursue long-term sustainability and development, effective transformation strategies are crucial to navigate the complexities of modern global markets. Digital technologies, particularly GenAI, can streamline decision-making and execution processes,” he said.

GenAI automates routine tasks and streamlines project management, enabling companies to focus more on strategic growth and client relationships. This shift from daily operations to long-term strategic initiatives marks a significant leap towards higher productivity and better business outcomes.

GenAI also facilitates the strategic integration of real-time data and advanced training programs, which are crucial for transformation strategies. It helps analyze extensive datasets, identify key operational efficiencies, and redefine industry best practices.

Workforce Enrichment

Beyond organizational strategies, GenAI enriches the workforce by providing access to training and continuous learning opportunities. This helps employees master new technologies and industry trends, improving individual performance and aligning team capabilities with evolving business demands. This ensures that the entire organization is equipped to drive forward and achieve corporate success.

Success Story: Saudi National Events Centre

The report cites the success of the Saudi National Events Centre (NEC), which has effectively integrated digital technologies to enhance transformational success. The NEC has leveraged PwC Middle East’s Transform Hub to drive innovation and transformation, becoming a leader in delivering world-class events and experiences in Saudi Arabia and the region.

Recommendations for Organizations

To harness digital technologies as transformation accelerators, PwC Middle East recommends organizations invest in robust digital infrastructure and promote a culture of innovation. This can drive operational efficiency, innovation, and long-term success in the region’s dynamic digital landscape. Additionally, organizations must ensure that this infrastructure is designed for seamless system integration and flexibility, enabling them to scale capabilities and bandwidth to meet future demands.

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