Emerging and evolving technologies are gaining prominent impact on various markets. Organisations across the globe have now begun to tap into the potential of these technologies and Oman is following suit. At present, Oman’s transformation is progressing at varying levels, with impressive changes happening in the Information Technology Sector.
According to research provided by IDC, by 2024, investments towards digital transformation and innovation will account for 30% of IT spending in the Middle East, Turkey, and Africa. Companies and Organisations must steer through these novel technology inflexions to construct an infrastructure capable of optimising their business towards a digital future. The new technological infrastructure must deliver improved results, reduce errors and the risk of disruption of all nature, while also supporting the goals pronounced in Oman’s Vision 2040.
Human-Machine Partnerships will become richer and more immersive by 2030. Another research, by Dell Technologies and Institute for the Future, showed that respondents often agreed with their Organisation’s need to transform. Yet only 27% of Organisations have ingrained technology in their activities, 57% are still struggling to keep up, while 93% are facing a kind of barrier, preventing them from attaining successful digital business by 2030 and in the years to come.
The pandemic in 2020 brought about its own transformation, slowing the pace of digital conversion and forcing Organisations to rethink their strategies. With emerging technologies forging lives and the way we conduct business, here are a few notes to consider as we progress towards 2030.
Understand & revise business strategy
The decision to adopt evolving technologies need to be considered from a broader context, considering what the chosen technologies enable and the financial investment it requires. Technologies related to IT operations such as infrastructure or software-defined networking needs to be validated, ensuring that the technology functions and there are guaranteed business returns. The same applies to business technologies, with proper stringent assessment in place to gauge if the technology and related business process changes are directed towards progressing the Organisation. Understand the technology, find out how it can be incorporated into the existing business system, assess its credibility and revise business strategy.
Recognize the current ecosystem
Gain a clear understanding of existing technological ecosystems present in the Organisation, including its capabilities and limitations. Assess the current technology in the Organisation and compare the results with that of the new technology. Will implementing the new technology be more valuable than the backlog of existing priorities or needs?
Test emerging technology
New technologies must be evaluated based on their potential business value towards an Organisation. This would include a test run in the Organisation’s current environment, with data scaled at the business’ pace. While the test run can’t be done across all cases, it would be best to practice it on the more critical use case to test the technology’s readiness and ROI for proper implementation.
Make decisions backed by data
Metrics can be used to support a final decision, such as assessing alignment with an Organisation’s longer-range strategy, time, cost of implementation, integration time and time taken to meet business value, ongoing costs and skills to support, and so on. An Organisation must also factor in the comparative cost and fiscal health of the provider’s company before deciding to adopt emerging technology.
Search for reliable insights
Look up the experience of a third party that has evaluated the same technology. Examining other Organisation’s experience with the same technology is a resourceful way of learning. Ensuring that the external source has done similar work is also critical, as this could stand as potential knowledge-transfer material for the Organisation.
Revisit previous decisions
With time, an emerging technology once deemed risky may have evolved as a viable solution. Provide that previously-cited issues have been addressed and the Organisation has the timing and resource investment to embrace new technology, it is best to use the new information to explore new technologies and re-evaluate business strategies.
Execute a three-Stage plan
After selecting a new technology that matches an Organisation’s operating and functional requirements, it is important to establish the path to value. Any big technology investment requires an Implementation Stage, a Management Stage (where an Organisation analyses and changes its management style based on the implementation of new technology) and a Business Value Realisation Stage (at this stage, the Organisation measures the implementation and success of business transformation). These three stages are essential to measuring the success rate of embracing new technology.
Since the launch of Vision 2040, Oman has seen rapid technological developments in many Sectors. The Sultanate has broadened its use of online platforms to ease public services and is now promoting digitalisation and innovation towards economic development and diversification. Having highlighted technology as an important player in the economy, Oman has welcomed powerful technologies, such as Artificial Intelligence, machine learning, 5G, storage and cloud, as these technologies come with new opportunities.
By evaluating the technology choices, IT and business leaders can surpass hindrances, embracing and supporting Oman’s digital future.
According to research provided by IDC, by 2024, investments towards digital transformation and innovation will account for 30% of IT spending in the Middle East, Turkey, and Africa. Companies and Organisations must steer through these novel technology inflexions to construct an infrastructure capable of optimising their business towards a digital future. The new technological infrastructure must deliver improved results, reduce errors and the risk of disruption of all nature, while also supporting the goals pronounced in Oman’s Vision 2040.
Human-Machine Partnerships will become richer and more immersive by 2030. Another research, by Dell Technologies and Institute for the Future, showed that respondents often agreed with their Organisation’s need to transform. Yet only 27% of Organisations have ingrained technology in their activities, 57% are still struggling to keep up, while 93% are facing a kind of barrier, preventing them from attaining successful digital business by 2030 and in the years to come.
The pandemic in 2020 brought about its own transformation, slowing the pace of digital conversion and forcing Organisations to rethink their strategies. With emerging technologies forging lives and the way we conduct business, here are a few notes to consider as we progress towards 2030.
Understand & revise business strategy
The decision to adopt evolving technologies need to be considered from a broader context, considering what the chosen technologies enable and the financial investment it requires. Technologies related to IT operations such as infrastructure or software-defined networking needs to be validated, ensuring that the technology functions and there are guaranteed business returns. The same applies to business technologies, with proper stringent assessment in place to gauge if the technology and related business process changes are directed towards progressing the Organisation. Understand the technology, find out how it can be incorporated into the existing business system, assess its credibility and revise business strategy.
Recognize the current ecosystem
Gain a clear understanding of existing technological ecosystems present in the Organisation, including its capabilities and limitations. Assess the current technology in the Organisation and compare the results with that of the new technology. Will implementing the new technology be more valuable than the backlog of existing priorities or needs?
Test emerging technology
New technologies must be evaluated based on their potential business value towards an Organisation. This would include a test run in the Organisation’s current environment, with data scaled at the business’ pace. While the test run can’t be done across all cases, it would be best to practice it on the more critical use case to test the technology’s readiness and ROI for proper implementation.
Make decisions backed by data
Metrics can be used to support a final decision, such as assessing alignment with an Organisation’s longer-range strategy, time, cost of implementation, integration time and time taken to meet business value, ongoing costs and skills to support, and so on. An Organisation must also factor in the comparative cost and fiscal health of the provider’s company before deciding to adopt emerging technology.
Search for reliable insights
Look up the experience of a third party that has evaluated the same technology. Examining other Organisation’s experience with the same technology is a resourceful way of learning. Ensuring that the external source has done similar work is also critical, as this could stand as potential knowledge-transfer material for the Organisation.
Revisit previous decisions
With time, an emerging technology once deemed risky may have evolved as a viable solution. Provide that previously-cited issues have been addressed and the Organisation has the timing and resource investment to embrace new technology, it is best to use the new information to explore new technologies and re-evaluate business strategies.
Execute a three-Stage plan
After selecting a new technology that matches an Organisation’s operating and functional requirements, it is important to establish the path to value. Any big technology investment requires an Implementation Stage, a Management Stage (where an Organisation analyses and changes its management style based on the implementation of new technology) and a Business Value Realisation Stage (at this stage, the Organisation measures the implementation and success of business transformation). These three stages are essential to measuring the success rate of embracing new technology.
Since the launch of Vision 2040, Oman has seen rapid technological developments in many Sectors. The Sultanate has broadened its use of online platforms to ease public services and is now promoting digitalisation and innovation towards economic development and diversification. Having highlighted technology as an important player in the economy, Oman has welcomed powerful technologies, such as Artificial Intelligence, machine learning, 5G, storage and cloud, as these technologies come with new opportunities.
By evaluating the technology choices, IT and business leaders can surpass hindrances, embracing and supporting Oman’s digital future.
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