He also said that connectivity is another megatrend, which will be revealed across the emirates in the coming years driven by the rapid proliferation of connected devices and services. It will have a direct impact on health care, IT, logistics and banking and financial services.

“The region is poised for social change, which combined with a need to grow globally, is increasing pressures on companies based in the Middle East to innovate in new exciting ways.”

He added that while the UAE is behind the curve on innovation, “Innovation is a critical to maintain the current success across the emirates and companies are at the precipice of change.”