By TP Sharafudheen
This year, GITEX invited seven special communities to meet and discuss serious technological issues, including how these communities can leverage regional economic growth, contribute to social welfare, and accelerate civil governance.
GITEX, the region’s largest technology event, attracts several global technology giants to showcase the latest products and trends in the tech world, paving the way for the year 2023. Technology professionals, entrepreneurs, start-ups, students, and members of the general public interested in technology are all actively participating in these 5-day technology heat-ups.
Let us investigate why these seven communities exist and what role they play in the development of a country and region.
CEOs play a significant role in defining the organization’s technology strategies. CEOs can do more than other executives to change the role, resource model, and core systems of the IT function, as well as the cultural and organizational changes that such changes entail.
Many businesses have improved their financial performance after their CEOs prioritized strengthening the technology function and bringing more technology capabilities closer to the business’s strategy and operations. However, carrying out this mandate can be difficult. a new role that requires collaboration with the business on strategy and operations; an updated resource model that provides talent, methods, and tools to accelerate innovation; and a future-proof technology foundation of flexible, scalable systems that expedite IT product releases. CEOs are uniquely positioned to address this. CEOs of successful companies we know have defined a strategic role for technology.
Most CEOs already have a full plate, and few are comfortable enough with technology to advocate for transformative changes in that area. Even CEOs who are aware of the threat of digital disruption and are considering how their companies can create value through digital tend to underestimate the importance of the IT function.
Technology innovation and national welfare are inextricably linked. The complex processes of technology development and product commercialization are inextricably linked with government policy and market interactions in today’s world.
The government has a role to play at every stage of the innovation process. Without collaboration with the marketplace and consideration of public policy, the private sector cannot develop and deploy technology. Government investment in R&D alone is rarely enough to drive technology deployment. Similarly, without collaboration with industry and the marketplace throughout the interactive R&D and deployment process, it is usually impossible for the government to cause the deployment of new technology to achieve public good objectives.
Overall, the industry underinvests in technology development and commercialization, particularly when large capital investments are required. As a result, new technology is frequently underutilized. This is especially true for innovations that serve the “public good.” The marketplace frequently undervalues the public good, making it difficult for private firms to capture enough benefits to make deployment financially viable.
Software development is evolving at a rapid pace. Over time, new software trends emerge. It is the nature of revolution to meet the growing customer market needs. From the nineteenth century to the present, the future of software development has been promising.
According to the US Bureau of Labor Statistics, demand for software engineers may rise to 22% by 2029. As described here, there have been significant advancements in this field. Automation: Automation simplifies the developer’s job. In software development, a developer must write, test, and deploy the code. The written code in automation will automatically run tests or deploy. This saves the developers a lot of time. They are dependent on various supported factors such as Security, Security is critical in every aspect of technology. Designing UI: The user interface, or UI, is the part with which users interact. AI and cloud services were not used in traditional apps. They have now evolved into a strategy for improving software functionality and service.
Many current trends have been adopted by innovators and early developers in the twenty-first century. Microservice orchestration is the process by which developers divide an application into loosely coupled services. They coordinate, configure, and manage them after that. API Design: Creating an application programming interface (API) will expose data and introduce new functionality, enhancing the developer experience and allowing for easier coding and implementation. Cross-platform: It allows the software to run on various computing platforms.
GraphQL is a query language that allows APIs to be faster, more flexible, and developer-friendly. Blockchain: This technology stores transactional records and prevents them from being altered. Reactive Programming: This development enables developers to handle more requests at once without wasting threads. CI/CD: This pipeline trend primarily introduces automation to DevOps teams to perform continuous development, testing, and driving operations.
These software engineers and coders can play a significant role in technological development; in fact, software plays an eighty percent greater role than hardware.
Future trends are those that will emerge in the future software development process. Smaller apps with fewer features will become more popular. As a result, developers will strive to cram as many features as possible into the smallest package possible. Physical hardware will be phased out. AI-enabled innovation: AI is also being used in software development because it can observe and predict user needs. AI has the intelligence to unlock the software’s human capabilities. Through the software, it can make better decisions to improve a working procedure or business system. As a result, they can be an important part of your digital work. Blockchain technology has been improved. In all of the technology and upgrades, the user interface has been improved.
Startups are a significant contributor to economic growth. Despite its recent involvement in the economic development process, they have contributed to the establishment of a more developed and well-functioning economy. Startups boost the economy with revolutionary technology and, over time, create new industries.
When these startups go public, they truly become money-making machines for not only the owners, but also the employees and shareholders; startups also help to change the country’s image. In fact, they help to reduce unemployment by increasing competition and encouraging people to be more innovative and creative. Consider how Infosys influenced Bangalore, how Alibaba influenced Hangzhou, how Microsoft influenced Redmond, and how Google influenced Mountain View, California. They improved employment patterns by giving both experienced and young professionals job opportunities. This resulted in an increase in the number of graduates and the relocation of experienced professionals from other cities; the “dynamism gap” between the large cities and the rest of the country is closing as a result of startups.
Because they are not constrained by a multi-layered corporate bureaucracy, startups are more nimble and capable of developing a concept into a product and updating it in response to customer demand with faster decision-making communications.
Startups may be small businesses, but they can have a significant impact on economic growth. Startups are the epicenters of innovation; startups create jobs, which means more employment, and more employment equals a stronger economy; startups have a direct impact on the cities in which they reside.
Since the financial crisis, public market investors have embraced the technology sector with open arms. However, it is important to note that this focus has spread to private markets as well.
Nonetheless, they play an important role in the technology-based economy. Most investors appear to agree that technological adoption will continue, but more and more people are questioning the cost of this exposure. However, it is critical to recognize that technology is one of the few sectors that retains pricing power, allowing these companies to defend both profits and profit margins against rising input prices.
Furthermore, these firms have demonstrated the ability to generate consistent streams of earnings regardless of the macroeconomic environment; given that global economic growth will eventually return to trend, this will be especially important over time.
Today’s youth actively contributes to the creation of new jobs, the economic empowerment of vulnerable groups, the promotion of better health systems, and the availability of inclusive and high-quality education. Millions of young people are working to effect change around the world. Young people are nearly twice as connected as the rest of the world’s population. They are nearly three times more likely to use the internet than the general public in most of the world’s least developed countries. Youth can now mobilize, collaborate, socialize, and have a voice thanks to advances in information and communication technology (ICT).
They simply require assistance and opportunities from governments, civil society, and the private sector, as well as the participation of their communities. Giving them access to education and financing, encouraging their creativity and innovation, and simply believing in their ideas will help them turn their dreams into reality. GITEX2022’s main attraction will be the youth community.
Industry and businesses are the primary beneficiaries of academic outcomes, as they take up ideas and knowledge germinated in educational institutions and research laboratories, develop them further, and bring them to market. Industry, as well as various government and granting agencies, fail to recognize the importance of not-for-profit academic institutions and faculty members in influencing for-profit industrial technologies. I see academia as a non-profit organization that seamlessly contributes to the advancement of technology. Finally, this collaborative effort of non-profit institutions and for-profit businesses benefits global society.
Unfortunately, this synergy is not always recognized and appreciated in a tangible way by society as a whole. To foster mutually beneficial academia-industry interaction, governments, businesses, industry, and their respective agencies must provide adequate support to educational and research institutions. In exchange, academia and research institutions must strive for excellence and make a significant contribution to society.
R&D is critical to technological innovation, which now drives the world’s knowledge-based economies.
Let us wait and see how much excitement GITEX 2022 will generate.