Saudi Arabia’s Digital Landscape Soars, Predicted $34.5B ICT Spend

A new era of digital innovation is dawning in Saudi Arabia, driven by a surge in foreign direct investment and a monumental $7 trillion blueprint for giga projects. The Kingdom is poised to witness its ICT spending skyrocket to over $34.5 billion this year, according to the latest projections from the International Data Corporation (IDC). The renowned global firm specializing in technology research, consultation, and events anticipates remarkable growth rates for software (11.4%) and IT services (8.7%) over the 2022–2026 span.

Leading the charge in IT expenditure for 2023 is the government sector within the Kingdom. Substantial investments are being channeled into pivotal domains such as AI, IoT, cybersecurity, and big data analytics, which collectively form the cornerstone of an ‘Experience Economy’. Following closely in terms of expenditure are the finance, communications, energy and resources, and manufacturing sectors. Yet, it’s the healthcare, finance, retail/wholesale, professional services, and education sectors that are poised to experience the swiftest growth over the upcoming five years.

The imminent IDC Saudi Arabia CIO Summit 2023, scheduled for September 13-14 at the Fairmont Riyadh, will delve into these advancements and more. The event will serve as a gathering ground for the Kingdom’s most influential IT and telecom leaders, trailblazing figures in digital governance, regulatory bodies, and visionaries from the industry.

Hamza Naqshbandi, IDC’s Associate Vice President for Saudi Arabia and Bahrain, applauds Saudi Arabia’s transformational journey, a testament to visionary leadership committed to erecting a resilient digital economy. He underscores the role of Saudi CIOs as architects of the future, steering an era where digital proficiency propels national ambitions. The IDC Saudi Arabia CIO Summit 2023 stands as a tribute to the Kingdom’s remarkable evolution, offering a unique platform for collaboration, knowledge exchange, and the fusion of technological innovation to establish the groundwork for a limitless future.

Under the theme ‘Empowering Leaders of the Digital Economy’, the IDC Saudi Arabia CIO Summit 2023 will scrutinize the prevailing digital landscape and assess its all-encompassing influence on citizens, customers, staff, and operational paradigms. The event will also feature a special appearance by Raha Moharrak, who etched her name in history as the youngest Arab and first Saudi woman to conquer Mount Everest and the Seven Summits. Her accomplishments harmonize seamlessly with the transformative spirit of the summit, inspiring attendees to strive for unparalleled heights in their individual digital odysseys.

The agenda encompasses a series of captivating presentations, CIO-led panel discussions, and technology-focused groups delving into diverse subjects such as:

• Crafting Strategies for Building a Digitally Resilient Organization

• Envisioning the Future of the Intelligent Enterprise

• Shaping CISO Strategies for a Digital-First Entity

• Strategies Driven by Data and Platforms for Attaining Digital Outcomes

• Cultivating Digital Trust, Identity, and Security for a Digital-First Entity

• Nurturing Talent and Meeting the Demand for Novel Skills: Optimizing Team Structures

• Sustainable Approaches and Technologies: Implementation, Impact Assessment, Business Value Generation

• Selecting and Managing Vendors: Best Practices and Vigilance Points

• Safeguarding Against Present and Future Cyber Threats: Adaptive Security Approaches for Risk Mitigation

• Bridging the Gap in the Distributed Cloud: From Edge to Core

• Empowering the Data-Infused Enterprise

• Evolving Through AI and Analytics: Thriving in the Intelligent Economy

Moreover, the event will provide exclusive insights from IDC’s CIO Advisory Council for Saudi Arabia. Esteemed ICT leaders and experts from the region constitute the council, including figures such as:

• Eng. Naif A. Sheshah, Assistant Deputy Governor for Planning & Development and CDO, Communications, Space & Technology Commission (CST)

• Yousef Alsuhaibani, CIO, Mobily

• Sundah Alsehali, CIO, Ministry of Defense

• Eng. Ghada Albugami, CIO and Presidential Advisor for Digital Transformation, Princess Nourah Bint Abdulrahman University

• Abdulaziz Abanmi, COO, Saudi Payments

• Khaled Alhazmi, CIO, Saudi Airlines

• Jason Roos, CIO, King Abdullah University of Science & Technology (KAUST)

• Yasser Al Yousuf, Assistant Deputy Minister, CISO, CRO, and CDO, Ministry of Justice

• Bandar Al Shahrani, Head of Digital & Innovation, PIF Projects, Public Investment Fund