Philips tackles health care challenges at FII 2019

Frans van Houten, CEO of Royal Philips, was a panelist in a session titled, “Solving the unsolvable: How investors and entrepreneurs can advance deep tech,” on Oct. 30.
Updated 18 November 2019

Philips tackles health care challenges at FII 2019

Royal Philips, a health technology company, highlighted the role of sustainable innovation in the Kingdom’s journey toward achieving health care transformation, at the Future Investment Initiative (FII) that took place in Riyadh from Oct. 29 to 31st.
As part of Philips’ commitment to making the world healthier and more sustainable through innovation, the company aims to address pressing societal issues with a focus on the United Nation’s Sustainable Development Goals, including the goal to ensure healthy lives and promote well-being for all.
FII brought together decision-makers, leading investors and global experts to explore future economic trends and discuss how investment in advanced technologies can help transform Saudi Arabia into an economic powerhouse. Frans van Houten, CEO of Royal Philips, was a panelist in a session titled, “Solving the unsolvable: How investors and entrepreneurs can advance deep tech,” on Oct. 30.
“Our vision is to improve the lives of three billion people a year by 2030. We want to transform the ways in which health care is accessed and experienced,” said Ozlem Fidancı, CEO of Philips Middle East and Turkey.
“Philips is a leader in artificial intelligence in health care: Unlocking unprecedented improvements in access, productivity and quality. With a rapid rate of innovation, AI can address significant global unmet needs in health care — augmenting human intuition and teamwork with precision and speed.”


Positive social impact of COVID-19 in KSA: Survey

Updated 12 August 2020

Positive social impact of COVID-19 in KSA: Survey

A survey commissioned by Al-Aghar Group, an independent Saudi think tank, in partnership with global management consultancy Kearney, has revealed that most thought leaders and decision-makers in the Kingdom anticipate that COVID-19 will be a positive accelerant of the transformation already underway in the Kingdom. The survey focused specifically on the social impact of the COVID-19 crisis on the Kingdom through 2025.

Respondents believed that COVID-19 is accelerating the advent of the “future of work” in the Kingdom and more than 65 percent see this as fundamentally positive. About 69 percent see the growing need for the retraining of employees as positive, spurring national adaptation to the new normal. However, the survey also revealed some concerns regarding the security of formal employment and self-employment, with 37 percent seeing the effect of the crisis as negative.

Most survey respondents (70 percent) expect education in the Kingdom to undergo a positive transformation with the adoption of new, innovative, and inclusive modes of learning.

Seventy-eight percent of the respondents believe that the impact of the pandemic on the health care in the Kingdom through 2025 will be highly beneficial.

Fifty-eight percent of respondents believe there will be a wide adoption of telemedicine services in the Kingdom in the near future, as patients gain greater comfort and confidence in this method of consultation with their health providers.

Most respondents believe the health crisis has accelerated the process of digital transformation in the country, particularly in the finance and retail sectors. Seventy-five percent of respondents see the anticipated wider prevalence of e-commerce as positive, and 89 percent see as positive increasing use of cashless payments for face-to-face transactions by 2025.

By 2025, 78 percent of respondents expect that COVID-19 will lead to a significant and welcome (83 percent) step change in government preparedness for future crises. Meanwhile, 68 percent of respondents anticipate a significant impact on government information-sharing and 65 percent anticipate a moderate, but positive change in the willingness of citizens to contribute toward government efforts.

Prince Faisal bin Abdullah bin Mohammed Al-Saud, chairman, Al-Aghar Group, said: “Saudi Arabia has a proud history of resilience and has thrived even in the most challenging situations. While this pandemic has severely affected us all, the survey results confirm the depth of our intention to use this current situation to accelerate our national progress.”

Rudolph Lohmeyer, partner and head of National Transformations Institute at Kearney Middle East, said: “The survey results clearly reveal the deep, optimistic resilience of the Saudi people and their implicit commitment to the Kingdom’s national transformation. Despite the near-term hardships caused by the crisis, respondents anticipate that the most significant medium-term impacts will be positive.”