New technologies such as drones, smart machines, artificial intelligence and wearables are growing at an accelerating pace, triggering disruptive innovations in both information and non-information based industries, a top official said.

“As we move from the scarcity economy to the economy of abundance, technologies such as cloud, big data, analytics and Internet of Things will change the way companies operate. Information will come not only from people, but from things,” added Salvador Anglada, chief business officer at UAE-based telecom group Etisalat.

He was delivering his keynote address at the recent Global Innovation Summit 2015 in Dubai, UAE.

New technologies are creating new business models and new ways of competing, he added, noting that these developments are sparking the collaborative economy.

Anglada cited three major factors that spark big change and create disruption.

“First, the price of technology which is dropping very fast, technology ecosystems which are creating multiplier effect in sectors and activities, and business models resulting in the rise of new competitors,” he said.

“Disruptors leverage assets of demand, use cloud and develop lean companies with flexible organisational structures. They attract best talent and instil autonomy, collaboration and openness in their business. Importantly, they have technology on top of their business agenda,” he concluded.

Etisalat’s senior representatives also participated in panel discussions alongside other industry leaders and innovators. The event brought together an unrivalled combination of thought leaders, leading technology companies and government dignitaries.

It attracted over 700 attendees, and focused on disruptive technologies, covering areas such as smart city, Artificial Intelligence, Internet of Things (IoT), mobile innovation, 3D printing and more. – TradeArabia News Service