Tuesday, 6 Jun 2023
Lecture focuses on economic challenges

Lecture focuses on financial challenges

The guest speaker and the attendees have been welcomed by Muscat University vice chancellor, Professor Yusra al Muzoughi.

She mentioned, “This series of talks is a forum and an opportunity for academics, leaders of industry, and the government to exchange ideas on salient topics. Today’s lecture will be in the context of readying ourselves for upcoming challenges and enhancing our capabilities.”

Dr Hinai mentioned there is a understanding gap in between market and academia in Oman.

“There are challenges for the industry. We need innovation, research and solutions or inventions.”

Dr Hinai also explained the vision to modify from a hydrocarbon-primarily based economy to an economy constructed on understanding by enabling the cooperation in between the private and government sectors, and by following productive models in the sector, making use of Petroleum Development Oman as an instance.

He sees that the oil and gas sector in Oman is capable to lead the way as it has embraced state-of-the-art green technologies such as water filtration and green power production.

Dr Hinai also stressed the significance of developing upon these technologies which proved their efficiency and are major to a future primarily based on a understanding-primarily based economy

“The oil and gas sector is stable. It is endowed with financial and human resources. It is well established and able to implement new technologies and usher in the Fourth Industrial Revolution in the sultanate.”

The options for challenges are primarily based on applying analysis by neighborhood researchers, and the partnership in between academic and industrial sectors.

Fourth Industrial Revolution

The Fourth Industrial Revolution (4IR) is the fourth main industrial era because the initial Industrial Revolution of the 18th century. It is characterised by a fusion of technologies that is blurring the lines in between the physical, digital, and biological spheres. It is marked by emerging technologies breakthroughs in a quantity of fields, which includes robotics, artificial intelligence, blockchain, nanotechnology, quantum computing, biotechnology, the Internet of Things, 3D printing and autonomous automobiles.

Source: Wikipedia

Information Source: Muscat Daily

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