The Kingdom turned the Corona pandemic crisis into an opportunity to accelerate the “digital transformation” in the Saudi economy, after it took several precautionary steps that the government of the Custodian of the Two Holy Mosques began to implement it recently, and announced a package of measures that include incentives for electronic transactions, which prompted a large segment of citizens and residents To accept these technical transactions, while the global economy witnessed drastic and accelerating changes due to the rapid spread of infection with the virus, as the Kingdom was among the fastest countries that preceded time to control this effect, and other countries failed to deal with the crisis, by taking exceptional measures To limit the spread of the virus, and this has been reflected in all activities of the daily life of societies and individuals, such as going out to work and markets, performing prayers, canceling social events, sports activities, and domestic and international travel, which greatly affected economic and social activities, but some of these changes will become a new reality that should be dealt with and adapted.
A change that turns a crisis into an opportunity
In light of the pandemic crisis (Covid-19), many behaviors and activities have changed and many daily activities have stopped completely and for long periods, such as work, health, education and supply, so it was necessary for those responsible for these sectors to find alternatives that ensure the continuity of activity in these areas .. From this standpoint The Saudi economy has taken from the midst of this crisis caused by the (Covid-19) virus a challenge to identify the problems and needs that require innovative solutions, and constitute golden opportunities for entrepreneurs and investors in many fields such as health care, education, financial tools, supply and supply chains, and others, which required a shift in accelerating the wheel of transformation. Digital and investment in digital technologies, the most important of which are quantum computing, biotechnology, artificial intelligence, cybersecurity, communications and the fifth generation, digital identity and biometrics, and cloud computing.
As for working remotely, recent evidence indicates the success of remote work in light of this crisis for many economic activities such as banks, companies, media, government departments, municipalities and logistics services. Experience has shown that remote work has the ability to increase operational flexibility and efficiency, improve access to talent, reduce costs and increase Employee satisfaction, as companies return after the lockdown and recovery period, companies will face a choice about how to keep employees working in the pattern of the future.
Digital readiness is a safe haven in crises
The investment in the technologies of the fourth industrial revolution and the Internet infrastructure, broadband and fifth generation networks were reflected in effective returns, directly and indirectly, as the negative economic effects were greatly reduced, and may not appear in the traditional feasibility studies, due to their emergency components, as they are hidden in the corners of the distributions. Statistical, and this crisis revealed the strength of the Saudi economy and the success of its investment in modern technologies from modernizing communications infrastructure, broadband and optical fiber networks, as well as applications that rely on artificial intelligence, and e-government services, as it was able to adapt to this crisis and continue to provide government services through its applications on Internet, which confirms the correctness of its planning based on future foresight.
Resilience and durability of supply chains
During the crisis, supply chains were exposed to a qualitative shock because the world’s largest exporters were affected by the pandemic after the closure of factories and the interruption of shipping and supply lines around the world, and here the importance of achieving a balance between reliability and independence in non-local resources emerged, and despite the importance of international trade in the exchange of goods and services, it An important indicator for rethinking some goods and services critical to national security in an effort to settle them or secure their sources, which is what the Kingdom actually started 3 years ago, in many goods and services, and in return the modernization of the infrastructure of ports, sea and land ports and the simplification of customs procedures and operations had the greatest impact. In the continuation of logistics services and supply chains naturally in light of a global crisis.