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ARTICLE · 27 APRIL 2017

Digital Safeguarding: Are Financial Regulators Doing Enough?

Clyde & Co
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Advances such as cloud technology, data analytics, artificial intelligence and robotic automation are improving profitability and competitiveness for companies.

Saudi ArabiaGovernment, Public Sector
Tom Bicknell
Tom Bicknell
Kellie Blyth
Kellie Blyth
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Advances such as cloud technology, data analytics, artificial intelligence and robotic automation are improving profitability and competitiveness for companies. However, financial regulators need to invest in a broad range of expertise to understand this new digital revolution and regulate accordingly.

Regulations and the digital economy

Technology awareness in the Middle East is high. A recent report published by global management consultancy AT Kearney found that more than two-thirds of the GCC population use the internet with penetration in the UAE and Qatar exceeding 90 percent (including fixed and mobile).

Furthermore, as GCC countries attempt to diversify their economies away from an over-reliance on petroleum production, they are aware innovative technologies such as cloud computing will become increasingly important for business connectivity and performance.

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