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Kuwait Aims For Digital Transformation With Google Partnership

Google Cloud will work closely with several government agencies to digitize citizen services and increase public sector productivity.

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kuwait aims for digital transformation with google partnership
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As part of Google’s expansion of its Cloud services into the Middle East, the tech giant has signed up to a strategic alliance with the government of Kuwait. The move shows a solid commitment to the region’s digital future, and as part of the agreement, the two entities will collaborate on a comprehensive digital roadmap that will encompass both governmental entities and state-owned enterprises.

As part of its expansion, Google Cloud aims to set up a local headquarters in Kuwait and will team up with the Kuwait Direct Investment Promotion Authority (KDIPA), the Communication and Information Technology Regulatory Authority (CITRA), and the Central Agency for Information Technology (CAIT).

The Government of Kuwait and Google Cloud will work towards “digitizing citizen services” and increasing employee productivity. In addition, the partnership will begin implementing several transformative initiatives that will help to digitize a broad range of sectors, including healthcare, education, disaster recovery, and smart living.

By leveraging Google Cloud’s technology and formidable expertise in data analytics, the Government of Kuwait will also be able to improve regional cybersecurity and artificial intelligence deployment. Meanwhile, Google Cloud support will become available to public sector organizations, businesses, and startups to build a modern, data-driven economy.

Also Read: Meet Hotdesk: A Homegrown UAE Remote Workspace Platform

“The strategic alliance supports the Government of Kuwait’s Vision 2035, which aims to transform Kuwait into a digital society and diversify its economy. We are proud to bring the latest Google Cloud technologies to Kuwait to help the country realize its digitization ambitions. The arrival of Google Cloud will contribute to developing a rich tech ecosystem in the country, creating exciting, highly-skilled job opportunities for Kuwaitis,” says Thomas Kurian, Chief Executive Officer, Google Cloud.

As well as a raft of economic benefits, the Google Cloud partnership will enable Kuwait’s Central Agency for Information Technology (CAIT) to develop a national upskilling program for government employees. All in all, the strategic allegiance looks set to radically overhaul Kuwait’s government and public sector, ushering in a new era where cutting-edge data analytics, machine learning, and enhanced security mesh seamlessly into everyday life.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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