Alfanar focuses on developing local economies 26 July 2021
Alfanar is inspired by initiatives such as Vision 2030 to continue promoting localisation and making digital transformation easier
By Amer al-Ajmi, vice-president, sales and marketing, Alfanar Construction
What are your predictions for the diverse sectors in which Alfanar operates?
We foresee that digitalisation will continue to catalyse transformation through the Industry 4.0 revolution. Global trends show Industry 4.0 significantly impacts the world’s economy as it spans industries that represent 62 per cent of GDP among G20 nations, including manufacturing, mining, agriculture, oil and gas, and utilities.
Businesses are investing heavily in the internet of things (IoT), with worldwide Industry 4.0 expenditure estimated to have hit $500bn in 2020. While use of IoT currently focuses on improving efficiencies, trailblazing companies are finding unconventional ways to utilise IoT by creating n