Policy implications of the fourth industrial revlution and public private partnerships

Abstract

The massive digital transformation across societies, the growing maturity of the knowledge economy, and the advent of the “Fourth Industrial Revolution” is fueling new forms of innovations in public-private partnerships. However, the rapid technological advancements associated with this transformation and the growing number of applications of Artificial Intelligence, Big Data, Blockchain, and the Internet of Things, among others, are also creating new sets of challenges and dilemmas for policymakers and business leaders alike. The UAE enjoys one of the most avant-garde governments in terms of adopting cutting-edge and transformative digital applications, coupled with an open economic model that encourages solid and mutually beneficial partnerships between the public and private institutions. Given these digital-age realities, what are the existing policy dilemmas facing business leaders and policymakers today towards fostering new partnerships? What venues of partnership can be leveraged in the future? What policy responses are required to enable future innovations in technologies associated with the fourth industrial revolution? What societal, institutional, legal, and ethical frameworks do we need to put in place to ensure PPPs continue to drive growth in our smart cities, in our governments, and across societies in the next decade? As a regional hub, can new models of PPP in the UAE drive the sustainable development agenda around the region? These are some of the questions tackled by policy heads and industry leaders across the UAE during the policy council.