Princess Sumaya says Internet of Things bodes 'great opportunities' for diverse players

AMMAN — HRH Princess Sumaya, the president of the Royal Scientific Society and chairperson of its board of trustees, on Monday inaugurated the 2016 Arab Advisors Group’s Technology Convergence Conference.

The two-day summit brings together top regional and global executives representing regional and global technology, media and telecom companies, according to a statement released by the group.

“Today, the wonderfully promising ‘Third Wave’ — the Internet of Things [IoT] — bodes great opportunities for a range of new and diverse players," Princess Sumaya said, adding that competition in the provision of services and the birth of "disruptive innovation" will be global and may emerge from any local entrepreneur around the world.

The princess added that it is predicted that IoT will connect some 20 billion or more objects to the Internet in the course of the next decade, thereby drawing in the vast majority of the world’s population.

"We all have the opportunity to give life to the pulse of a new connective being," she added.

Arab Advisors Group General Manager Faisal Hakki said this year's conference comes in parallel with the "unprecedented evolution" in hyper connectivity globally.

Hakki added that the event sheds light on the challenges and opportunities facing businesses in this new era, and the effect of mobility, IoT, big data, cloud computing and social platforms on the shape of businesses and daily lives of individuals.

The conference's discussion panels are focusing on the opportunities and challenges of the “digital” transformation and the redefining of businesses and societies in the era of hyper connectivity, the statement added.