A recent study by a database software organization has provided a big uptake and trust in digital technologies in the UAE, considering the COVID-19 pandemic.
The businesses polled answered from business leaders in November and December the previous year, continuing nearly 10 months of disturbance caused by the pandemic.
THE COVID-19 CONCERN AND FUTURE PROOFING BUSINESSES
The study showed that an overwhelming majority of UAE business leaders (97 percent) are concerned about the impact of the pandemic on their organizations. However, the study also showed that companies are willing to use and invest in technology to manage the crisis.
The investigation showed that a lion’s share of UAE business pioneers (97 percent) are worried about the effect of the pandemic on their associations. In any case, the examination additionally showed that organizations will utilize and put resources into innovation to deal with the emergency.
In fact, these digital advancements are something many organizations decided to construct on, that also after the pandemic. Out of those polled, 94 percent of UAE organization leaders provided in the long term they would change robots to help upgrade productivity at their companies, while 70 percent provided they would rely on robots to run their company economics. Out of those polled, 64 percent of organizations said they trust robotic technology would return economics professionals in the upcoming five years – greater than the global average of 56 percent.
Talking on the results of the report, Juergen Lindner, Oracle’s senior vice president for global marketing, said: “Digital is the new normal, and technologies such as artificial intelligence and chatbots play a vital role in managing finance.”
Other concerns from organization leaders in the UAE contains a slow financial regain (61 percent), cuts to company budgets (54 percent), and the potential for their company to go bankrupt (21 percent),
THE RISE OF PROPTECH
Inside the land business, the most immediate effect COVID-19 has had on business activities is through the fast increment and development of PropTech.
In fact, a recent report on PropTech by global consulting and audit firm Deloitte said “the global COVID-19 pandemic is already accelerating this disruption, given some of the challenges of executing real estate transactions and operating properties remotely, as well as the impact the pandemic will have on how real estate is used in the future.”
Although the PropTech revolution was well underway prior to the pandemic, the need for social distancing and the resulting increase in digital communication has no doubt accelerated the process, starting a large-scale disruption that is unlikely to be reversed once the pandemic is over.
Though the PropTech revolution was well in progress before the pandemic, the need for social distancing and the resulting rise in digital communication has no doubt quickened the process, beginning an enormous scope disturbance that is probably not going to be switched once the pandemic is finished.