MoIAT adopts Smart Industry Readiness Index to identify the level of technology within industries

MoIAT adopts Smart Industry Readiness Index to identify the level of technology within industries

The Ministry of Industry and Advanced Technology (MoIAT) has announced on the side-lines of the Global Manufacturing and Industrialisation Summit 2021 (GMIS) that it has adopted the Smart Industry Readiness Index (SIRI) to identify the level of technology adoption within industrial players.

The index is also recognised by the World Economic Forum as a global standard for Industry 4.0.

The announcement 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 is an essential tool in the development of an accurate, customised roadmap for each company in order to successfully integrate advanced technologies to increase efficiency, reduce costs and increase the competitiveness of the production process.

The Smart Industry Readiness Index 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 digitalisation journey. This index will drive the UAE’s manufacturing sector to start thinking of the benefit reaped from adopting industry 4.0 solutions in terms of efficiency and productivity.

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.

The Smart Industry Readiness Index is a comprehensive tool that evaluates, not just technology, but also organisation and process. In process, the index evaluates the integration of operations, supply chains and product lifecycles. In technology, it evaluates automation, connectivity and intelligence in the shopfloor, enterprise and facility.

Finally, in organisation, talent readiness for industry 4.0 solutions, as well as the organization’s structure and management are evaluated.

The adoption of the Smart Industry Readiness Index is a key cornerstone of "UAE Industry 4.0", the Fourth Industrial Revolution programme launched by the ministry within "Projects of the 50" to accelerate the integration of advanced technologies in the industrial sector. The ministry will seek to evaluate about 200 industrial companies before the end of the first half of 2022.

Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, said:

"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 programme that consisted of 70 companies.."

"These evaluations are an essential part of supporting the ‘UAE Industry 4.0’ programme. The information and data collected will contribute to understanding the path towards industry 4.0, along with identifying the necessary programmes that will circumvent challenges, alleviate risk and provide the right incentives for technology adoption. 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."

She noted that the participating industrial companies are set to benefit from financing packages as part of the Emirates Development Bank’s initiative to support the digital transformation in the industrial sector, for which AED5 billion has been allocated over the next 5 years..

She also emphasised that SMEs will be prioritised in the 4IR roadmap, as the ministry is developing additional incentive packages and initiatives to support manufacturers in all stages of digital transformation.

She also added that the programme enhances the UAE’s leadership regionally and globally in terms of creating the optimum environment for the development and adoption of advanced technologies., supporting the objectives of the ‘UAE Industry 4.0’ programme to raise industrial productivity by 30% and add about AED25 billion to the national economy over the next decade.

She commended the vital role of the private sector in supporting the progress of UAE industry.

She praised the initiative of companies seeking evaluations as additional evidence of the depth of partnership and level of trust between the public and private sectors.

News Source: Emirates News Agency

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