Qatar’s “next generation economy” would be a “talent economy,” which would be vital in pushing the economic development of the country amid advancements in technology and innovation, according to Sheikh Mansoor bin Khalifa al-Thani, chairman of MBK Holding.
Sheikh Mansoor was speaking as one of the experts during a panel discussion held on the sidelines of a tech summit organised by the Indian Business and Professionals Council (IBPC Qatar).
He described the “talent economy” as “version two” of a knowledge-based economy, which Qatar has been aspiring to attain as part of the objectives and goals of Qatar National Vision 2030.
He said: “It’s not the knowledge itself; it’s the talent who are producing the knowledge,” he explained.
Sheikh Mansoor further explained that building a complete ecosystem and encouraging more collaboration with local stakeholders and other players is necessary to attract quality talent.
Amid the rapid shift in the technology landscape, Sheikh Mansoor noted that adapting immediately to the latest innovations and technologies will help forge a progressive economy to push the country forward.
“It is important to be an early adapter of innovation, technology, engineering innovation, and resilience. The early adopters always have the advantage. The key to being an early adapter is quality talent and community,” Sheikh Mansoor emphasised.
He said: “It’s really all about quality talent and community, so the more we are into quality talent, the more we are into building the community of that mindset. By shifting our mindset and mentality to that level of innovation and entrepreneurship, the more we can be an early adapter and we can move into the future faster.”
Sheikh Mansoor also underlined the pervasive influence of AI and its widespread integration in various sectors of the economy. “Personally, I think AI is going to be everywhere. This is a no-brainer,” he pointed out.
However, Sheikh Mansoor emphasised that the decision on the domains in terms of maximising the use of AI should be decided by “the collective of the community,” adding that continuous improvement and constant evolution, and “building a robust, quality talent community” is important.
“This is a people game. Therefore, changing the mindset, building the right talent, and having a community to support that change in mindset and this talent is essential,” reiterated Sheikh Mansoor.
He also underscored the need for hands-on support from different stakeholders to develop the ecosystem, saying, “We are already starting, and I know different stakeholders in the country are moving into more proactive ecosystem support.”
Sheikh Mansoor added: “I don't think that today we can decide what will make the difference for us and to be more’s a collective effort; we should think about what will differentiate us and what will put us on the map.”
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