February 24, 2024

We are creating some awesome events for you. Kindly bear with us.

Open and shared data could add US$2.8 billion annually to Dubai’s economy by 2021

Open and shared data could add US$2.8 billion annually to Dubai’s economy by 2021

Image from Dubai Data Economic Impact Report (Credit: Dubai Data Establishment)

A Data Economic Impact Report commissioned by the Smart Dubai Office estimates that open and shared data has the potential to add 10.4 billion AED (US$2.83b) to the economy every year, by 2021.

This contribution is in terms of Gross Valued Added (GVA), which is a measure of the contribution to an economy made by a firm, sector or activity. GVA is directly linked to Gross Domestic Product (GDP). it excludes taxes and subsidies on products/ services.

The three biggest value drivers are expected to be the transport, storage and communication sector; the public administration sector; and  the wholesale, retail trade, restaurants and hotels sector.

The report estimates opening government data alone will result in an added value in the range of AED 4.3 to 6.6 billion (US$1.2-1.8b) annually as of 2021, equivalent to approximately 0.8% to 1.2% of Dubai’s forecasted GDP for 2021.

These numbers were calculated through a benchmarking approach, drawing on evidence of the impacts from other jurisdictions. The applicability of findings to Dubai considering differences in consumer and business behaviour was considered.

The report notes four categories of entities (citizens, private sector; or government bodies) who will create value: 1) Data Enrichers, who combine open data with their own sources and or knowledge; 2) Data Enablers who do not profit directly from the data, but do so via the platforms and technologies they are provided on; 3) Data Developers who design and build Application Programming Interfaces (APIs); and 4)  Data Aggregators who collect and pool data, providing it to other stakeholders.

Geospatial, environmental and meteorological and economic and business information data are expected to generate the greatest value from use and re-use.

The report also identifies a few barriers which could obstruct the realisation of potential value. Legislation could limit data transparency through disclosure policies or reduce clarity of ownership of datasets through copyrights. It is not enough to open up data to realise economic benefits. To be valuable, data must be accessible, discoverable, timely, linked and available for re-use without discrimination.

Charging for datasets could be a barrier for SMEs and individuals with financial constraints. Moreover, there could be access barriers resulting from the format and reliability of data, the reluctance to use data, and the lack of skills and understanding.

The Dubai Government is addressing these barriers through the right policies and standards, enabling data sharing through the Smart Dubai Platform, and raising the necessary skills.

In March 2016, the Dubai Data Establishment Law was established to lead the Dubai Data initiative, which is described as a comprehensive city-wide data initiative guiding the opening and sharing of city data across the public and private sector. In April 2017, the ‘Dubai Pulse’ platform was launched to host all of the emirate’s data. Some of the data is available free of charge to the public. A second layer offers analysis of the data in exchange for a fee, while the third layer consists of data accessible exclusively to Dubai Government entities.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend