Question

Course Learning Outcomes-Covered

• Demonstrate the dynamics of technological innovation concepts in technology-intensive business enterprises. (Lo 1.1)

   

Essay                                                                   Weight: 5 Marks      

Write an essay on the ‘Role of Technology and Innovation in the realization of vision 2030 KSA’.

In writing the essay, ensure to cover the following points:

- Discuss how Vision 2030 approaches the topic of technology and innovation.

- Discuss and provide examples of the steps the government has taken to realize its technology-based goals and objectives stated in Vision 2030.

- Provide examples of actual technology-based projects that the government has implemented or in the process of implementing

Use examples, peer-reviewed journals to support your submission. This essay must be at least 1200-words in length.

Answer 1

Introduction

The government recognizes the key role played by Technology and Innovation in wealth creation and building human capital required for the transition to a knowledge driven economy. Vision 2030 proposes to intensify the application of Technology & innovation to raise productivity and efficiency levels across the three pillars of national development. As a result, the Government is implementing technology and innovation policy framework through the identification, acquisition, transfer, diffusion and application of relevant technology and innovation knowledge in all sectors of the economy.

The developed based on the challenges identified in vision 2030 and other policy documents. It was implemented through a coordinated action plan within the context of economic, social and political pillars of the economy. The development of capacities of the national innovation system has been fast tracked to ensure the competitiveness in the international technology market, based on the targeted programmers’ from the identified sectoral areas.

This Second proposes more strategic and bold programmers’ to address the persisting macroeconomic and social-economic challenges, facing the country. The objective of the Second plan is to achieve the transformation to a knowledge based economy that integrates technology and innovation in national production processes and create technology platforms essential for the development of products, processes and services in a wide range of sectors.

Origin of the Vision

The development of the vision 2030 is based on the enhancement of entrepreneurial spirit. A key aspect in the vision is to create partnerships between the government and the private sectors in the areas of economic development, such as mining, construction, education and health, as well as housing. The economic goal of the blueprint is listed as the second pillar, which is aimed at marketing the country as an investment center, thus making it a global powerhouse by 2030 in that aspect.

Implementation Process

The execution process of the vision 2030 was commenced in 2016, with all pillars being assigned to relevant government departments to champion for their development. Again, the concerned ministers were bestowed with the authority to establish monitoring techniques that will provide a continued evaluation of the program. Besides, the Council of Economic Development Affairs has thus created an interconnected and computerized system aimed at collecting feedback information from all the participants. This measure has significance in ensuring that everyone is on track and that the set objectives will become realizable within the set timeframe.

The Influence of Information Technology (IT) on the Economy

In the contemporary world, the development of the IT sector has become a pioneer as well as a powerful catalyst in addressing the interests and needs of the developed, developing and least-developing nations. A conscious use of technology has been known to enhance the economic expansion for most countries. As such, the aspirations of the Vision 2030 could be achieved in the application of IT to the various sectors of the economy. Some of the areas that could benefit from the application of technology include job creation, security, GDP growth, industry development, transformation of labor force, and business innovations, social security and healthcare, as well as cultural exchanges.

Job Creation

The growth and development of information technology has enhanced greater connectivity among the people. IT has created an easy way for businesses to access the markets far away from their locality, thus seeking to expand their productivity to meet these needs. As this happens, opportunities for more jobs open for citizens, hence reducing unemployment. Besides, technology has also led to emergence of mobile phones and computer industries that have employed a lot of people. In the recent years, the development of computer application has become one of the best paying jobs. With more young people acquiring the computer skills, they get an opportunity to build their startup business, hence employing themselves as well as other people.

Growth in Gross Domestic Product (GDP)

At the moment, the role of IT in the expansion of GDP cannot be estimated. The growth of the IT sector has gained momentum and penetrates virtually to all the sectors of the economy. For example, information technology has provided a reliable, fast and safe means for business transactions. At the moment, people are able to buy and sell products online with a quick adoption of the cash free society. This possibility has made great strides in the recording of all transactions, hence giving the government to monitor financial transactions, and collect taxes from them. As such, it has made tax evasion a difficult thing for most businesses and increased government revenues, hence increased resources that can be used for infrastructural development.

Service and Industry Creation

The service industry is one of the greatest beneficially of the IT sector development. In the recent times, the activities that took much time to complete have seen their time reduced to just some few minutes in their completion. At other times, consumers do not even have to visit the services providers but will have all their requests made while at the comfort of their homes. Some of the critical areas where the use of IT has improved service delivery include trade data sharing, education, banking, research and marketing, as well as advertisement. Other sectors include payment of bills, product purchasing, and government services. Previously, there were huge lines in banking halls with people waiting for long hours before they could be served.

Workforce Transformation

By 2030, most work-related activities in various industries will be highly dependent on technology. As such, it will be critical that the country’s labor force acquire necessary skills to perform effectively while at their job stations. That will be necessary to ensure faster and accurate delivery of services as well as increased productivity. Besides, technology will also help eliminate challenges, such as data omissions and misinterpretation, thus leading to poor performance of the firms in the country. Moreover, IT has contributed to the emergence of stronger networks within the workforce, as well as enhances communication among middle and lower-level workers with the top level management, as well as among themselves.

Business Innovations

The growth of the IT sector has increased the number of business innovations occurring every year. For example, it is estimated that in the Organization for Economic Co-operation and Development (OECD) countries close to 95% of business being launched has presence online and has indicated recognizable use of technology. Since, the invention of information technology, new applications keep occurring every day simplifying the manner in which business and production has been handled for years. This tendency is clearly visible in the marketing industry, which has numerous changes with the emergence of social media. As such, the traditional way of marketing is slowly becoming eliminated. New forms of information and news passages have also been realized, threatening the management and influence of news broadcasts.

Social Security and Healthcare

The future of any nation is the well-being of its citizens. As such, proper investment in the social and health sectors would guarantee a strong society that can work efficiently to provide all required services to its citizens. Therefore, for the Vision 2030 to be realized there is a need for investment in the health sector particularly through information technology. One of the benefits of information technology in health sector is the use of electronic health records. The technique reduces the use of paperwork in hospitals, hence reducing the time taken to look for patients’ records. The system ensures that patient’s information is available to all the parties involved, such as the doctors, nurses, and patients. As such, care providers and medical practitioners can assess the history of their patient before any treatment.

Defense and Intelligence

The Middle East region has been volatile for years and there is no clear sign of real peace by 2030. Therefore, the drafters of the Vision 2030 supposed that when they were developing the blueprint, they considered the need for having the security concerns of the country as a priority. Thus, there are several ways through which the use of information technology could help address this challenge. First, secure communication is significant in ensuring that the country protects both its political and business interests. An attack on either of the two pillars would have a negative impact on the economy of the country. The government should thus make investment into the measures meant to mitigate cyber warfare threat, something that is increasingly becoming a method of attacks between different nations. The realization of the Vision 2030 is hugely dependent on political, religious, and economic influence of the Middle East region where the country still has some foes who will seek to ruin it.