Dubai – United Arab Emirates (Emirates News Agency)

His Excellency Dr. Mohamed El-Khasht, President of Cairo University, in his speech at the Conference and Exhibition of Digital Economy Technologies “Seamless 2022” that digital technology is no longer a luxury, but rather has become a necessity of life after the interconnection imposed by the information, technology and communication revolution among all countries of the world… And those who are late in realizing this fact, The Covid pandemic surprised him to confirm it again, and accelerating the process of digital transformation has become an urgent and inevitable requirement.

Al-Khasht noted the proactiveness of the Digital Economy Conference and Exhibition “Seamless Middle East” and the Council of the Arab Federation for Digital Economy, where the initiative came from him at the level of the Arab world many years ago under the patronage of the Honorary President of the Arab Federation for Digital Economy, His Highness Sheikh Saif bin Zayed Al Nahyan, supervisor On this great project, and what it accomplished with the Unity Council and the Arab League in order to enable the digital economy in the Arab countries… and that this conference is a strong expression of the importance of digital transformation, especially in the economic field… Despite the extension of the digital revolution to all areas of life; The digital economy is at the forefront and most dangerous of these fields. Especially with the diversity of practices and technologies associated with it, such as: digital payments, expanded electronic commerce, in addition to banking and other various banking services, in addition to logistics services, and a distinctive digital identity for individuals and institutions, among others.

Elkhosht added: We must discuss the most important challenges facing the digital economy in our region, the most prominent of which are:

First: The widening of the digital divide between countries producing knowledge technology and countries consuming this technology. In the era of digital transformation, data has become one of the main strategic assets for both economic and social values, as the way this data is processed significantly affects the achievement of sustainable development goals. Data is multidimensional, and its uses have implications not only for trade and economic development, but also for peace and security.

Second: The decrease in the state’s digital strategic autonomy, and the monopoly of a few countries and some companies on data analysis technology and owning “digitization” mechanisms, which raises concern about the decline in the capabilities of most countries to impose their full sovereignty in cyberspace and the digital applications it includes. Here, it is possible to point out an additional challenge, which is the competition of some major countries in the struggle for influence in the digital space.

Third: The spread of digital illiteracy, especially in the field of digital financial affairs, which represents a constraint on achieving digital transformation in the economic field and its adoption as a basis in the banking sector. This challenge is more serious in some societies that still suffer from illiteracy.

Fourth: Weak digital infrastructure in general, and digital finance in particular, which poses a challenge to many countries. It also represents a greater obstacle for countries with limited economic capabilities, in addition to the obstacle of relying on external expertise in establishing this digital infrastructure. The expansion of digital uses since the Covid-19 pandemic has revealed the need to establish this structure in many countries, in addition to modernizing and expanding it in other countries.

Fifth: Digital transformation, especially in the economic field, raises the question about determining the scope of responsibility for this transformation, and to what extent is the participation of the private sector and other non-governmental sectors in the digital transformation process? How can the digital transformation process be organized and legalized to preserve the country’s economic system?

He added: The purpose of referring to the previous challenges is to indicate the obstacles that hinder the pursuit of a stable digital economy that contributes to facilitating living life, stabilizing societies and achieving sustainable development. low rates of digital transformation compared to their counterparts in the developed world; However, there are successful models at the level of the Arab region, as in the United Arab Emirates, the “Digital Egypt” initiative within its comprehensive development vision, and the digital transformation initiative in the Kingdom of Saudi Arabia’s 2030 vision.

Watch the video of the President of Cairo University’s speech at the Seamless Conference 2022