Digital innovations will revolutionise energy, other sectors: report
The transformative impact of emerging technologies, particularly AI, is projected to generate an annual economic value of $11 trillion to $18 trillion, by revolutionising industries such as energy, logistics and manufacturing, according to a new report.
The report, 'Digital Innovation for a Sustainable Future,' released by Invest Qatar, the Investment Promotion Agency of Qatar, and Iberdrola Innovation Middle East, highlights the transformative role of digital technologies in advancing energy efficiency, sustainability and economic diversification.
The report explores key global trends in Artificial Intelligence (AI), smart grids, cloud computing and clean technology, offering insights into their potential to accelerate Qatar's digital transformation.
The rapid expansion of private 5G networks and hyperscale data centres is reinforcing business competitiveness, as 5G technology is projected to contribute almost $900 billion to the global economy by 2030. These advancements are reshaping energy efficiency, as smart grids, Internet of Things (IoT) and AI strengthen the resilience and sustainability of power systems.
Looking ahead, the shift toward clean technology will require a major workforce transformation, with an estimated 200 million skilled workers required globally by 2050 to support the continued expansion of sustainable energy solutions, it said.
Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, said: 'In Qatar, we are embracing digital innovation with a balanced approach, ensuring it aligns with our long-term sustainability goals. By integrating cutting-edge technology with responsible environmental practices, we aim to create opportunities for investors and businesses committed to drive sustainable growth. We believe that digitalisation is not just about enhancing efficiency, but also about shaping a smarter and greener future.'
Santiago Bañales, Managing Director of Iberdrola Innovation Middle East, said: 'This report offers timely insight into how digital innovation, particularly AI, is reshaping the energy landscape and accelerating the shift toward more sustainable systems. AI is driving rapid progress across the sector, from enabling smarter grid operations to optimising the use of renewable energy. Yet it also brings growing energy demands, which must be met with clean, efficient sources. At Iberdrola Innovation Middle East, we are developing AI-based solutions that not only enhance how we generate and manage energy, but also ensure that innovation is sustainable by design. Our ongoing partnership with Invest Qatar reflects a shared commitment to supporting Qatar's transition to a diversified, knowledge-based economy, in line with the goals of Qatar National Vision 2030.'
Digital innovation and sustainability are at the core of Qatar National Vision 2030 (QNV 2030), focusing on transforming the country into a tech-driven, knowledge-based economy. The Third National Development Strategy (NDS3), launched last year, reinforces the country's ambition to lead in digital innovation and sustainability. This unwavering commitment is reflected in the country's strategic adoption of emerging technologies, significant investment in digital infrastructure and focus on digital skills development. These advancements have propelled the country's rise in global rankings. Qatar ranks second globally for general infrastructure (Global Innovation Index 2024) and leads the GCC in data and infrastructure (AI Readiness Index 2023).
The release of this new report marks the ongoing strategic partnership between Invest Qatar and Iberdrola, building on the memorandum of understanding (MoU) signed in May 2022.
This agreement enabled Iberdrola to expand its world-class innovation centre dedicated to advancing the application of AI in the energy sector in Qatar and worldwide. Through this partnership, the Spanish group has expanded its Research, Development and Innovation (RDI) activities via the Doha-based Iberdrola Innovation Middle East, located in Qatar Science and Technology Park (QSTP).
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