December 16, 2018 | 1:48 PM
Dr. Mohamed Osman Elkhosht, President of Cairo University, stated that the era we are living in now is the era of the Fourth Industrial Revolution, characterized by the penetration of advanced technology into all fields and sectors, including robotics, artificial intelligence, blockchain, nanotechnology, digital technology, the Internet of Things, and 3D printing, and the economic and social impacts of these changes.
He emphasized that advanced digital technology has become the global language of our times, and those who are unable to master and interact with this language will lose all means of communication and interaction with the outside world.
He pointed out that, based on shared interests, a common desire arose and converged between Cairo University and the Council of Arab Economic Unity to conclude a memorandum of understanding for joint organization on the means and frameworks for supporting the digital economy in Arab countries.
During his participation in the first Digital Economy Conference in Abu Dhabi, he explained that this cooperation aims to improve the level of knowledge about the digital economy and its importance in the Arab world, participate in preparing studies and reports related to the digital economy, hold conferences, scientific seminars, and workshops related to the digital economy, and cooperate with Arab governments to develop and harmonize legislation and laws aimed at facilitating the activation of modern digital economy mechanisms and systems.
He emphasized that the cooperation will contribute to encouraging and promoting awareness and guiding investors to adopt adequate facilities and infrastructure to ensure the safe and reliable implementation of digital economy mechanisms and applications, and to benefit from best practices, legal and legislative frameworks, and similar international experiences.
He added that many recent studies have proven the positive economic and social impact of the transition to the use of advanced digital technologies. This impact varies depending on the degree of progress of countries in the availability and use of digital technologies, with the impact increasing with the degree of progress.
He emphasized that Cairo University is a distinguished academic institution in the Arab world, housing numerous faculties with distinguished specializations, including scientific faculties such as the Faculties of Engineering, Science, Medicine, Pharmacy, and Agriculture, which help find innovative solutions for the transition to a digital economy. These faculties also include theoretical faculties, most notably the Faculty of Economics and Political Science, the Faculty of Arts and Archaeology, and other prestigious faculties that help facilitate “cultural change,” enabling a safe transition process and engagement with modern technologies.
The President of Cairo University explained that the Council of Arab Economic Unity at the League of Arab States has adopted an ambitious vision to be a potential partner in building sustainable, developmental digital economies in the Arab world by fostering the development, innovation, and creativity of digital economy solutions and applications in Arab countries, in accordance with international rules and standards.
El-Khosht announced the first fruits of this agreement, which will include a discussion of the Arab strategic vision for the transition to a digital economy, which was designed by the university’s oldest research center, the Center for Economic and Financial Research and Studies at the Faculty of Economics and Political Science, in partnership with Hands on Management Consulting (EFESO) Consulting. The President of Cairo University explained that the goal is to launch an international university that will lead citizens to the digital economy. This is in addition to the university’s accreditation two weeks ago of a Bachelor’s degree in Artificial Intelligence, as well as courses in Critical Thinking and Entrepreneurship. He noted that Cairo University aims to become a digital university.
The first Arab Digital Economy Conference kicked off today, Sunday, in Abu Dhabi, under the patronage of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces. The conference aims to launch a common Arab vision for the digital economy as a key factor encouraging increased economic cooperation and inter-regional trade.
