Future Economy
- 25 Dec 2023
- 1 minute to read
Digital technologies have been advancing rapidly in the world nowadays , leading to a radical change in the concepts of industrial revolutions called (The Digital Revolution) - it included a series of changes in economic, social, cultural and environmental dimensions. Recently, the concept of Digital Transformation (DT) has emerged; it is a paradigm shift in the field of communications, digital services and platforms, reflected in the depth and strength of relations between countries, companies and communities.
This type of revolution deals with the machine as an independent mind that accepts human guidance and intervention, combining the physical, virtual and human world, such as microelectronics, software engineering, communications, and information technologies. In addition to a new type of technology such as 3D printing, Internet of Things (IoT) , Artificial Intelligence(AI), Big Data, and Virtual Reality (VR)…etc.
This huge stretch of cross-border variables has generated a new economy comparable to the oil economy called (digital economy); it will become (the economy of the future) according to some economists expectations. Recently, The Cabinet approved the “Digital Economy Policy in Saudi Arabia” , reflected the kingdom’s concern to promote this field. Furthermore, The Kingdom has established the center of the Fourth Industrial Revolution (C4IR) for the significant benefits that this revolution can have on its economy and the well-being of its people.
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