UAE startups, SMEs may see $17 bln boost from cloud computing in next 8 years: Report

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Hyperscale cloud computing could provide startups and smart-and-medium-sized enterprises in the United Arab Emirates with $17.1 billion worth of economic benefits between 2022 and 2030, a new Amazon Web Services (AWS) report revealed.

The report, launched in partnership with Dubai Chamber of Digital Economy and conducted by Access Partnership, revealed that 74 percent of SMEs and startups in the UAE still use manual processes and basic communication tools. This highlighted the vast untapped potential of cloud computing worldwide.

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Within the next 8 years, SMEs and startups will be able generate $10.1 billion in user benefits and $7 billion in partner benefits from hyperscale cloud computing, supported by a hyperscale regional data center in the UAE.

“Despite its rapid progress, the UAE continues to look to the future as it pushes ahead with strategies and initiatives to fast track its digital transformation,” Khalid al-Jarwan, Executive Director of the Dubai Chamber of Digital Economy, said in a statement on Wednesday.

“Hyperscale cloud computing offers tremendous potential for start-ups and SMEs in the UAE that are keen to enhance their competitiveness and contribute to a thriving innovation ecosystem,” he added.

The AWS report estimates that by 2030, hyperscale cloud computing is expected to create 133,000 direct and indirect jobs in the country, and reduce the country’s carbon footprint and carbon dioxide emissions by up to 78 percent and 2.2 million metric tons in comparison to other IT infrastructure models, in addition to reducing security incidents by more than 30 percent.

“By leveraging the power of the cloud, UAE businesses can accelerate innovation and digital transformation agility to build business resilience in a competitive and dynamic marketplace,” said AWS’s Managing Director and GM for Turkey and the Middle East and North Africa region, Yasser Hassan.

Cloud computing is important for businesses because it offers them the ability to scale, maintain flexibility, recover data, and focus their efforts on business operations, with little to no maintenance and easy access.

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