What top technologies should CIOs keep a close eye on this year? New research from Frost & Sullivan sheds light on the technologies being used to reshape business and society.

One of Frost & Sullivan’s longest-running research series, the firm’s annual Top 50 Technologies Assessment highlights technologies with near-term commercial potential, with analysis spanning nine different technology clusters.

“By near-term, we mean technologies for which their potential will be demonstrated in the next 2 to 3 years,” said Ankit Shukla, vice president, Frost & Sullivan.

Abdul Aziz Jalab, Vice President and KSA Country Leader, Frost & Sullivan, said that the majority of the technologies identified are familiar concepts to organizations and governments in Saudi Arabia.

“Kingdom’s vision is focused on advancing the application of technologies such as artificial intelligence, cybersecurity, cloud computing, Internet of Things, quantum, 5G technology, big data analytics, and blockchain in various fields. Such technologies are efficient , enhance connectivity and innovation, and ultimately strengthen the Kingdom’s global technological position and advance economic diversification.”

AI is surprisingly not high on Frost & Sullivan’s global technology review list. Research shows that AI and its progeny, generative AI, could add trillions of additional value to economies around the world in the coming decades.

“With the establishment of the Saudi Company for Artificial Intelligence (SCAI), Saudi Arabia is positioning itself as a global leader in AI by offering innovative solutions through strategic partnerships and targeted investments,” Jalab said. “Further evidence of the Kingdom’s commitment comes from the recent plan to establish a $40 billion fund dedicated to AI investment, reflecting KSA’s ambitions to diversify its economy and assert global business influence.”