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How companies can leverage tech for innovation and growth

Experts advocate for strong leadership support, continuous learning, and cross-departmental collaboration to cultivate a culture that embraces technology and drives growth.

How companies can leverage tech for innovation and growth
[Source photo: Krishna Prasad/Fast Company Middle East]

Organizations that foster a culture of innovation are increasingly reaping greater rewards from their strategic technology investments than their peers. However, in leveraging advanced technologies for future growth, many companies encounter significant challenges in aligning their organizational cultures with digital ambitions. Cultural obstacles, such as risk aversion and siloed mindsets, have emerged as key impediments to the effective implementation of digital strategies.

Today, the rise of emerging technologies, particularly generative AI, is disrupting industries and underscores the necessity of innovation to ensure long-term viability. Consequently, understanding how culture influences the success of these initiatives has never been more critical.

Marc Wehbi, Co-founder and Chief Technology Officer of Shaffra, emphasizes the importance of prioritizing specific technologies to enhance innovation capabilities. According to Wehbi, organizations should focus on AI-driven automation, data analytics, and cloud computing as pivotal innovation enablers. These technologies enable businesses to innovate faster, adapt to market changes, and uncover new growth opportunities. At Shaffra, Wehbi adds that integrating AI and cloud-based platforms is essential for maintaining competitiveness and transforming traditional business operations.

Dr. Hassan Albalawi, CEO and Founder of WakeCap, a Riyadh-based software company, emphasizes the importance of prioritizing specific technologies to enhance organizations’ innovation capabilities. He advocates using tools that promote agility, data-driven decision-making, and operational efficiency. Drawing from his experience in the construction and industrial sectors, he says, “Organizations today need to prioritize technologies that enable agility, data-driven decision-making, and efficiency across operations.”

Citing an example of how things work at WakeCap, he says IoT solutions are utilized for real-time data collection on construction sites, particularly in monitoring worker safety and productivity. For instance, their IoT-connected devices have tracked over 70 million worker hours across projects, including those managed by Saudi Aramco.

“This technology allows us to capture data on worker activities, environmental conditions, and safety risks, which can be transformed into actionable insights that prevent incidents before they escalate,”  Dr. Albalawi says. The IoT system has improved safety protocols and emergency response times by providing real-time visibility into worker conditions.

“AI is another critical tool organizations should prioritize,”  Dr. Albalawi adds. AI-powered analytics further optimize project timelines, identify inefficiencies, and ensure adherence to safety standards. By integrating AI into its platform, WakeCap has achieved predictive maintenance capabilities, thereby reducing costly downtime on construction sites. “This integration has enabled us to streamline operations and enhance safety standards.”

TRANSFORMING BUSINESSES WITH TECH 

AI and machine learning are increasingly recognized as transformative forces. Hence, leveraging them is critical. “AI and machine learning are revolutionizing traditional business processes by automating repetitive tasks, reducing human error, and enabling real-time data processing,” says Wehbi.

Citing WakeCap as an example, Dr. Albalawi says AI and ML integration has streamlined operations on construction sites by automating timekeeping and tracking worker movements, alleviating administrative burdens, and keeping project timelines on track.

Both Wehbe and Dr. Albalawi emphasize the predictive capabilities of AI as critical in enhancing efficiency.

Dr. Albalawi points out that their AI algorithms analyze vast datasets from IoT sensors to anticipate safety hazards and equipment malfunctions. This is especially crucial in construction, where failures can lead to costly delays. He adds, “Our platform uses AI to detect falls, head impacts, and other emergencies in real-time, enabling faster responses and preventing accidents.” This focus on safety protects workers and boosts productivity by reducing downtime associated with incidents.

Moreover, AI-powered predictive analytics enables organizations to anticipate maintenance needs and optimize resource allocation.

Wehbi cites a McKinsey report indicating that companies utilizing AI for predictive maintenance have reduced equipment downtime by 10-20%, underscoring the technology’s transformative impact in industries where machinery failures can be costly.

Innovative companies’ collaboration is further propelling these advancements. For instance, the acquisition of Crews by Core, a Silicon Valley-based AI-powered project delivery platform, has enabled WakeCap to enhance its project scheduling and risk management tools, resulting in more efficient site operations.

Internal and external collaboration is a cornerstone of success. Internally, teams must be encouraged to engage in cross-departmental collaboration, fostering an environment where insights are shared and challenges are tackled collectively.

FOSTERING CONTINUOUS INNOVATION 

Fostering a culture of innovation is a multifaceted endeavor that begins with strong leadership.

Dr. Albalawi emphasizes that at WakeCap, technology is embedded into every facet of operations, from worker safety to project management, showcasing how embracing new tools can significantly impact performance.

“To foster a culture of innovation, organizations must prioritize leadership support, continuous learning, and cross-departmental collaboration,” Wehbi says, adding that leaders should actively advocate for using AI and other emerging technologies, providing a clear vision of how these tools can drive growth.

Continuous learning and development are also critical components of innovation strategies. Wehbi says investing in training programs is vital to equip employees with the necessary skills to adapt to new technologies.

“Fostering a collaborative environment where teams can experiment with and share innovative practices encourages broader adoption,” Wehbi adds.

A culture of innovation requires leadership commitment, ongoing education, and collaboration—both within the organization and with external partners. Wehbi says, “At Shaffra, we emphasize a culture of continuous improvement, where AI is seen as a partner, not a replacement, to human creativity.”

RDIA and Fast Company Middle East will release a report on Saudi Arabia’s innovation efforts, focusing on key sectors of national priority. The report will feature survey insights and interviews, highlighting advancements and opportunities driving growth. Participate here

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ABOUT THE AUTHOR

Rachel Clare McGrath Dawson is a Senior Correspondent at Fast Company Middle East. More

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