Open AccessTHE IMPACT OF DIGITIZATION ON THE ECONOMY OF KSA IN THE CONTEXT OF VISION 2030
Author(s) -
Wasmi Woishi
Publication year - 2019
Publication title -
international journal of engineering applied science and technology
Language(s) - English
Resource type - Journals
ISSN - 2455-2143
DOI - 10.33564/ijeast.2019.v04i04.051
Subject(s) - digitization , context (archaeology) , computer science , computer vision , geography , archaeology
Today’s world is rapidly influenced by data. Globally eight billion devices from smartphones to trains and wind turbines are connected to the internet and this number is expected to grow to one trillion by 2030. Digital transformation or digitization is a key factor of Saudi Arabia’s VISION 2030. Digitization is redefining the organization’s process and systems digitally. It is reinventing communication, experience and overall efficiency of organizations by artificial intelligence and analytics. The benefits of digitization are witnessed across all sectors whether it's private or public. Human and machines are working hand in hand in refactoring business processes and innovation. Digitization is optimizing value generation and decision-making process to increase business agility. Digitization is provoking the economic sector through more productive, more effective, more competitive product services and solutions delivery. The purpose of the study is to analyze the effects of digitization on the economy of KSA and its contribution toward the VISION 2030. The conclusion was drawn that the impact of digitization on the economy is inevitable and needed to recognize it for, it will greatly contribute towards the VISION 2030. The educational industry could play a vital role in educating and training the young generation so that the young generation can prepare for the opportunities and challenges yet to come. Keywords— Economy of KSA, Digitization, Digital technology, VISION 2030, Digitalization, Global Economy, Middle East Economy.