UAE’s MoIAT adopts Smart Industry Readiness Index to drive industrial growth

By Arya M Nair, Intern Reporter
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SIRI
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The UAE Ministry of Industry and Advanced Technology (MoIAT) has adopted the Smart Industry Readiness Index (SIRI) to identify the level of technology adoption within industrial players.

The announcement, made on the sidelines of the Global Manufacturing and Industrialization Summit 2021 (GMIS), follows the evaluation of 70 industrial companies in the UAE to assess their digital maturity and the extent to which advanced technology has been adopted across the nation’s industrial sector.

The index, also recognized by the World Economic Forum (WEF) as a global standard for Industry 4.0, is an essential tool in the development of an accurate, customized roadmap for each company in order to successfully integrate advanced technologies to increase efficiency, reduce costs and enhance the competitiveness of the production process.

The SIRI will help companies understand their current digital maturity as well as contribute to increasing their awareness of 4IR applications. It also provides them with high-level recommendations to enable them to take the next step toward their digitalization journey.

The tangible benefits of successfully deploying these technologies include quantitative and qualitative development of products, improving supply-chain management and value, and gaining new competitive advantages by increasing productivity and flexibility.

Sarah Bint Yousif Almiri
Sarah Bint Yousif Al Amiri
Minister of State for Advanced Technology

“We are proud today to announce the adoption of the Smart Industry Readiness Index, which was adopted by the World Economic Forum as a global standard for unifying 4IR concepts. We are also pleased to announce the completion of the first phase of the program that consisted of 70 companies. We understand the challenges that are associated with adopting technology, and we are working closely with the key industrial players to ensure that the ecosystem enables technological advancements.”

Ms. Al Amiri noted that the participating industrial companies are set to benefit from financing packages as part of the Emirates Development Bank’s (EDB) initiative to support the digital transformation in the industrial sector, for which $1.4 billion has been allocated over the next 5 years.

Related: UAE’s Emirates Global Aluminum signs up for MoIAT’s ICV program


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