Governments and companies tackling the 4th industrial revolution at the World Economic Forum MENA

Author: Jordan Times, Published on: 8 April 2019

"WEF tackles 4th industrial revolution, need for regional education to keep pace", 8th April 2019

The Arab world needs to fast-track balanced regulation while protecting data privacy if it is to capitalise on the region’s emerging technology scene, according to a statement sent from the World Economic Forum (WEF) being held at the Dead Sea.

... For governments and companies alike, the new digital economy will bring positives and negatives, especially when it comes to employment — a dilemma showcased by Careem, which has created 1 million jobs since it started operating seven years ago but could also destroy employment with the arrival of autonomous cars, according to the statement.

In practice, Careem co-founder Sheikha said, the impact of self-driving cars will be felt more gradually in the Middle East thanks to cheaper labour costs, with driver costs accounting for an average 25 per cent of trip expenses in the region compared with 80 per cent in the US. However, the rise of ride-hailing apps has already exacerbated tensions in Jordan’s transportation sector with the recent protests by “yellow taxi” drivers.

 

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Related companies: Careem Facebook Uber