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The Future Investment Initiative (FII) summit last week in Riyadh gathered together the world’s most powerful investors, business leaders, thought leaders and public officials to discuss innovations that are defining the future.
Raj Rao, CEO of Ford Smart Mobility LLC, joined a panel discussion on Building the Future — a forum that discussed ways in which global authorities can prepare for the next wave of global commerce with large scale infrastructure projects.
“I am delighted to be part of the Future of Investment Initiative conference and I am looking forward to participating in the discussion and exploring how mobility services could play a role in ��������Ƶ,” Rao said prior to the event.
“��������Ƶ is our largest market in the GCC and the Middle East overall, and our commitment to this key market is absolute. With Saudi Vision 2030, we see a bright future for the Kingdom and we trust that the diversification of its economy will reap positive outcomes for all industries,” he added.
By 2030, the projected population of ��������Ƶ is expected to reach close to 40 million; the UAE could reach 12 million, and each of the remaining GCC countries are also expected to experience significant boosts to their populations.
According to the global consulting firm KPMG, 80 percent of auto executives expect the connectivity trend will be disruptive and 83 percent anticipate major disruptions to their business models within the next five years.
At the same time, cities are faced with the challenge of transporting people and goods more efficiently and affordably with a minimal carbon footprint. “This has created opportunities for companies like Ford to explore new ideas in smart mobility while expanding their business models to embrace these disruptive technologies,” Ford said in a statement.
“Things are developing so quickly in the Middle East. A dimension that is unique here is the rate of change to the infrastructure and all of these economies wanting to be at the forefront of technologies. They are doing a lot to make their cities intelligent. There are many smart city initiatives and a lot of infrastructure that has already been built to make cities operate more efficiently,” said Rao.