United Arab Emirates are in constant moves to develop their country to the better. Different investments are going in every direction to keep the country high tech and well-developed. With the high numbers of investments moving in and out of the country, certain fields are getting more important than others.
A new statement released by the government has indicated that the current and future investments in the country will be directed towards data. This is due to the belief that data is the new oil and all technology and businesses will move towards big data and the efficient use of such a resource.
The vice-president and regional managing director for research firm International Data Corporation (IDC), called said Jyoti Lalchandani commented on the move saying, “Some of the traditional IT areas such as devices and infrastructure is slowing down and companies are using investment to drive adoption of more disruptive technologies such as artificial intelligence, robotic process automation, internet of things, big data analytics, blockchain and cloud to cut costs and drive more efficiency. We are seeing big data investments to drive new revenue streams. There is a lot of focus on mining data and organizations are looking at monetizing that data. Data is the new oil. If organizations can extract the real value from structured and unstructured data [along with] data coming from various other sources such as IoT devices and AI-based feeds and make sense of it.”