Business leaders in the UAE have ranked the country as a leader in developing an 'innovation-driving climate,' according to a recent survey.
GE's Global Innovation Barometer has surveyed 3,400 business leaders in 22 countries, including the UAE. In two independent surveys, they consider changes in global behavior as a result of the Covid-19 pandemic.
Business leaders in the UAE rate their country as the innovation champion (25%) ahead of the US (22%), Japan (16%), and China (14 percent). More than half (56%) claim that the Covid-19 pandemic has either caused a rise or kept pace with innovation, although about a third (34%) believe that it has had a positive effect on their companies' potential to grow.
Additionally, 40% of global business leaders embraced the innovative climate of the country, ahead of countries like Finland (38%), India (37%), Italy (37%), and Malaysia (32%).
Dalya Al Muthanna, President and CEO of GE Gulf, said that the UAE highly concentrates on a robust, innovative climate. It takes innovation as a strategic priority, especially during the pandemic. It also asserts that it is necessary to foster collaboration between government and industry to push localized innovation.
Around 79% of UAE market leaders agree the most innovations have taken place in healthcare, surpassing all other industries. Additionally, the different sectors that national market leaders feel have made strides since the Covid-19 epidemic include high-tech and IT (48%), telecommunications (44%) and communications, and culture and media (39%).
Moreover, 68% of the nation's business executives agree that AI advancement will be crucial to the post-pandemic. In comparison, 77% say that Ai and automation will be essential because of their benefits to working experience.
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