UAE ranked as a global leader in innovation

innovations News Research

According to the 2020 GE Global Innovation Barometer, Business executives in the UAE rank the nation, as a global leader in creating an ‘innovation-conducive environment,’

This year, the Global Innovation Barometer surveyed over 3,400 business executives in 22 countries, including the UAE, in two separate studies; one concluding in February 2020 and another pulse in September 2020. The second study was conducted to understand any changes in global sentiment as a result of the COVID-19 pandemic.

The UAE’s business leaders rate their country as the innovation champion (25 percent) ahead of the US (22 percent), Japan (16 percent) and China (14 percent). More than half (56 percent) believe the COVID-19 pandemic has led to the pace of innovation to increase or stay the same, while only a third (34 percent) say there has been a positive impact on the ability of their business to innovate.The UAE findings of the global study, now in its seventh edition, were launched today at a media webinar. The survey further reveals that 4 in 10 global business executives (40 percent) endorse the UAE’s enabling environment for innovation, ahead of countries such as Finland (38 percent), India (37 percent), Italy (37 percent) and Malaysia (32 percent). The US (73 percent), Japan (70 percent), China (68 percent), Germany (63) and the UK (53 per cent) lead the barometer as the Top 5 nations for an innovation-conducive environment.

Dalya Al Muthanna, President & CEO of GE Gulf, said the findings of the study reflect the consistent focus of the UAE’s leadership in nurturing a culture of innovation in the country, a journey in which GE has been an active partner for the past eight decades.

“With UAE businesses viewing innovation as a strategic priority, especially in the midst of the pandemic, it is important to promote governmental and industry collaboration to drive localized innovation. UAE executive value the societal impact of innovation and are increasingly drawn to Artificial Intelligence to propel it forward. This is a strong testament to the successful vision of the UAE in creating an environment conducive to innovation, especially by harnessing the possibilities of advanced technologies.”

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