There is an urgent need for global industry to accelerate the adoption of advanced technologies across the entire industrial value chain in line with the demands of the digital era and fourth industrial revolution. This will also be critical to driving global economic recovery in the wake of COVID-19. This was the overarching theme in the webinar co-hosted by the UAE’s Ministry of Industry and Advanced Technology (MoIAT) alongside experts from the World Economic Forum (Forum).
The interactive webinar, which was attended by more than 30 representatives of UAE industry and local economic departments, including Emirates Steel, Emirates Global Aluminium, Edge, and national energy company ADNOC, also served as a platform for mutual engagement between the industry representatives, ministry figures and Forum experts.
As well as discussions to raise awareness around industry 4.0 and guidance for UAE-based companies to leverage technologies to take a leading role in the fourth industrial revolution, the webinar included informative updates from MoIAT on its ongoing strategy and upcoming initiatives and incentives it will be rolling out, such as Operation 300 Bn in partnership with the Emirates Development Bank.
Mohammed Al Qasim, Director of Technology Development and Adoption, explained how UAE-based companies can be at the forefront of industry by harnessing Fourth Industrial Revolution (4IR) technologies and solutions.
“Over the years, industrial companies in the UAE have contributed significantly to our progress. Today, they are critical to our continued diversification efforts. Thanks to the UAE’s unique competitive advantages and unrivalled digital infrastructure, national business, as well as businesses from around the world can be integral to the nation’s aims to take the industrial sector to new heights and drive the global economic recovery.”
He added: “That is why MoIAT is rolling out a number of incentives and initiatives to encourage adoption of advanced technologies in the industrial sector. In addition, in line with Operation 300 Bn, Emirates Development Bank will provide financing support to businesses to enable the uptake and development of industry 4.0 technologies in the sector.”
He added: “By leveraging the power of advanced technologies, the UAE’s strong industrial base is well-set to rapidly expand and turbocharge sustainable economic growth. And companies able to adopt the latest innovations and technological solutions will be key enablers of this journey.”
For their part, Ian Cronin, Project Lead, Advanced Manufacturing and Production Platform at the World Economic Forum outlined the Forum’s vision of a future of advanced manufacturing and production that is inclusive, people centred, agile, sustainable and connected.
During the session, Ben Ong, Expert, Advanced Manufacturing and Production Platform, World Economic Forum also outlined the Smart Industry Readiness Index (SIRI) which was created in partnership with a network of leading technology companies, consultancy firms and industry and academic experts. SIRI comprises a suite of frameworks and tools to help manufacturers – regardless of size and industry – start, scale, and sustain their manufacturing transformation journeys. SIRI covers the three core elements of Industry 4.0: Process, Technology, and Organisation.