RIYADH: In a rapidly evolving digital landscape, the need to implement transformation strategies is a pillar for businesses in Saudi Arabia, according to a senior PwC Middle East executive.
Following the scheduling of the firm’s latest report, titled “Digital Acceleration: Successfully Transforming in Saudi Arabia,” Marwan Khamis, Partner at PwC Middle East, shares Arab Newsof the central role of emerging digital technologies in achieving sustainable growth and achieving the strategic objectives of organizations within the Kingdom.
Mr. Khamis argues that organizations are leading transformation initiatives midway through Vision 2030, with a focus on leveraging emerging technologies such as generative artificial intelligence (AI), called “GenAI,” to improve decision-making, efficiency, resource utilization and compliance.
Speaking on the sidelines of the Global Project Management Forum in Riyadh, he said: “AI is coming into play. According to a recent survey we conducted, 73% of Middle Eastern CEOs surveyed believe they need to adopt AI. AI over the next three years to ensure results for their beneficiaries.”
Generative AI shows great promise in automating common tasks and streamlining project management processes, the report adds.
This automation allows organizations to focus more on strategic growth initiatives and strengthen customer relationships.
By integrating real-time data and advanced training programs, GenAI enables companies to analyze large data sets, identify operational efficiencies, and redefine industry best practices.
According to the report, resource availability and rapid decision-making are the top challenges for senior executives, cited by 90% of respondents. This can be complemented by the use of emerging technologies.
Next comes resistance to change, at 80%, and the availability of data, cited by 7% of respondents.
Therefore, overcoming these obstacles requires a strategic approach, one that takes into account technological advancements while also considering cultural and economic factors that influence the pace and scale of transformation.
Marwan Khamis highlights the crucial importance of project management in the transformation process. He states: “As organizations move forward in their transformation process, project management becomes increasingly important as the decisive driver for them to embark on this transformation.”
The leader also addressed the desire of CEOs in the Middle East to go even further. He says: “According to the recent CEO Report, published by PwC, 48% of all CEOs in the Middle East believe that their companies need to undertake this transformation process over the next few years.”
To make these sought-after transitions a reality, Mr. Kamis presented the most effective strategies, based on PwC studies.
“The most effective transformation management offices and project management offices typically focus on two things: the first is fostering a positive work culture in which all project managers and experts collaborate effectively and the second is the adoption of digital solutions as part of the transformation process,” he maintains.
Marwan Khamis adds that when it comes to the Saudi market, especially in the run-up to the Vision 2030 initiative, quality execution is more than paramount to achieve successful transformation in both the public and private sectors.
The success of the Saudi National Events Centre, known as “NEC”, is a testament to the transformative power of digital technologies.
Leveraging PwC Middle East’s Transform Hub, NEC has become a leader in organizing world-class events and experiences in Saudi Arabia and the region.
This highlights the potential of digital innovation to drive operational efficiency, innovation and long-term success in the Kingdom’s dynamic business environment.
This text is the translation of an article published on Arabnews.com
