How Is Digital Transformation Affecting Different Industries?

The phrase ‘digital transformation’ has arguably become overused in recent times, but there’s no denying that the switch to doing business and carrying out our hobbies online is still big news. By looking at some of the current news stories from around the planet, we can see how this is still a major area where many businesses and industries are looking to improve.

Saudi Arabia to Digitise Its Gaming

Saudi Arabian Crown Prince Mohammed bin Salman has confirmed that the Middle East country is looking to bring its gaming industry up to date in order to try and make it a global hub for the digital gaming world. The idea is that this brings around $13 billion to the national economy either directly or indirectly, with a total of 86 initiatives making up the scheme.

The creation of 39,000 new jobs by the year 2030 and increased quality of life are among the main benefits they expect to receive. Part of the ambitious plan is to make at least 30 esports games in Saudi Arabia’s development studios, while they also want to be in the global top three in terms of the number of esports pros.

Gaming has become a huge business in Saudi Arabia, with the governor of Saudi Arabia’s Communications and Information Technology Commission claiming that their rate of 89% of the population playing games is the highest in the whole world. According to Newzoo, there were over 21 million gamers living here in 2020, generating more than $1 billion in gaming revenue between them.

It’s not just gaming in the sense of videogaming, either. This summary of the best online casinos in Saudi Arabia in 2022 shows that international gaming sites like Betway and Betfinal can be accessed by players from here, with no local gambling options available in this country. This makes it more difficult to calculate how many citizens play slots, roulette, and other casino games online, but the big bonus offers on display suggest a highly competitive market.

The Banking and Finance Market in the US Continues to Go Digital

Finance is one of the areas where the switch to a digital way of working has brought immediate benefits. We can see digital banking being launched all over the planet right now. A good example comes from the US, where retail giant Walmart is using the FinTech One service it backs to offer digital banking to its 1.6 million workers. This could lead to a complete banking service linked to a customer’s spending at their stores.

Cutting-edge technology like artificial intelligence (AI) and big data are now heavily used in digital banking, potentially bringing big benefits for consumers and finance companies alike. The White House has helped to pave the way for our digital future by providing its first-ever guide to possible laws in these areas, including how to protect consumers who use cryptocurrencies and the possible implementation of a central bank digital currency that would be some form of a digital dollar.

The UAE Brings eCommerce to the Metaverse

The almost limitless possibilities offered by the metaverse have been the subject of intense debate across the planet, and one of the key points is how to successfully integrate eCommerce into this new way of going online. The answer could come from Dubai, in the UAE, as a team made up of cybersecurity and AI experts have created a new type of ecosystem that they believe will help shoppers to enter a new type of digital lifestyle.

The project is named VICUNA by OSDT, and they promise that people will be able to use their senses of smell and touch in their incredibly life-like online environment. The first version of their metaverse to be released will be called VINA Verse and it will be brought out in the final quarter of 2022. Their VICUNA FitNet product is the eCommerce platform that they believe will help sellers to boost sales by letting their customers try the products before buying.

Technology has given us smart home products and other benefits in the past and all of these different approaches will help us to make the most of the latest technology in ways that enhance our lifestyle and help forward-looking businesses to thrive. In such an innovative setting, it wouldn’t be a big surprise to see other new ideas spring up and grab even more headlines than the ones we’ve looked at here.