The UAE businesses are not being able to achieve their revenue targets due to lack of technological knowledge; says a newly conducted survey.
Among the company heads who have participated in the survey, 64 percent have admitted that lack of digital skill have caused them missing out on business goals, poor product quality and failure to acquire talent. The survey was conducted by Economist Intelligent Unit, commissioned by US IT firm Riverbed.
Elie Dib, Riverbed’s Regional Vice President of emerging markets in Europe, the Middle East and Africa, said: “The establishment of dedicated centres focused on fostering [technology] competencies will go a long way in enhancing employee productivity, building better digital experiences for customers and consequently improving the bottom line.”
Mr Dib also believes that the enterprises should be considering making investments to improve in-house technology to ensure long-term success.
But the good news is, the UAE public and private sectors are investing quite a lot in technology in recent years. The IT market is forecasted to grow by 20 percent by 2021, said Fitch Solutions.
The business leaders consider embracement of new technology and innovation to be the top skill they want to foster to achieve their targets (72 percent). The second spot belongs to workplace transformation and talent retention jointly (66 percent).
The survey has also discovered that the UAE businesses that have given more importance to improved technical skills are more likely to get better results.
UAE respondents are above the global average when it comes to keenness in improving digital competency as 80 percent of them have expressed their desire in this sector, against the global average of 74 percent.