JobXDubai

Leading executives in the UAE and Saudi Arabia look towards a promising future, confident in their company’s potential and the broader economy, despite the advent of technology challenging the current workforce’s skillset. This insight comes from AlixPartners’ Disruption Index, which reveals global business sentiments through the perspectives of over 3,000 CEOs and executives.

With a robust optimistic outlook, 80% of regional leaders express positivity about their enterprise and an even higher 85% about their nation’s economic trajectory. These figures underscore a strong collaborative rapport between the corporates and the government.

2024 offers a canvas for regional CEOs to exhibit their adaptability amidst ongoing global changes. Almost universally (90%), they believe that their leadership naturally thrives amid these turbulent times, a sentiment more pronounced than the global average.

To safeguard their operations against potential setbacks, regional heads are applying strategic measures like action plans and scenario analyses. A striking majority are prioritizing revenue leaps over immediate profits, fostering their primary business while scouting for valuable new ventures.

Significant disruption isn’t alien to business chiefs in the UAE and Saudi, with 68% acknowledging the intensity of disruptors in the last year. A fervent 67% are concerned about keeping pace with rapid changes, prompting over 60% to remodel their business strategies.

Digital adoption is soaring, with regional companies investing notably more in tech than before, outpacing global averages. However, these technological advances bring about workforce skill obsolescence, a worry for 85% of regional CEOs—a stark comparison to the 58% globally. Despite this, reforms in visa policies have simplified the recruitment and retention of qualified professionals.

Gabriel Chahine of AlixPartners comments on the immense potential and risk in the Middle Eastern landscape, noting the proactive investments in various sectors by the region’s governments and businesses. AI and automation lead the disruption, with a vast majority ready to invest in digital transformations for the foreseeable future.

A key focus for regional leaders is process automation, a trend mirroring the emphasis on tech-led transformation in the area. CEOs stress the importance of new technology’s return on investment and seamless integration with current systems. Chahine points out the proactive stance of regional companies in adopting technology, suggesting immense productivity gains and new job opportunities for those who confidently navigate these shifts.