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Iraq Business
6 days ago
- Business
- Iraq Business
Risks of Transitioning to AI-Powered Digital Administration in Iraq
By Dr. Saad Mohsen Naji - Expert in Digital Economy | Vice President and Secretary General of Jordan's Iraqi Business Council . Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News . The Risks of Transitioning to AI-Powered Digital Administration: Iraq Between Aspiration and Reality In the midst of an intense global race toward digitization, AI-driven digital administration has become a defining feature of institutional transformation. While such technologies promise unprecedented levels of efficiency, accuracy, and speed, they also carry inherent risks and challenges. If not managed wisely, these risks can undermine the sustainability of economic organizations-particularly in developing economies such as Iraq and several Arab countries. A critical review of e-government initiatives across the region reveals that their shortcomings often stem not from financial constraints, but from the failure to establish well-structured teams proficient in the latest technologies and capable of managing them effectively. This underscores the centrality of human capital and the need for continuous education. Technology, no matter how advanced, remains ineffective without qualified human resources to harness its potential. Digital transformation, when pursued through abrupt leaps rather than gradual integration, tends to disrupt traditional organizational structures. Field studies show that downsizing skilled personnel without offering reskilling opportunities creates dangerous execution gaps. A striking example is the collapse of Borders Books, which failed to adapt to digital publishing and exited the market in 2011. More recently, the streaming platform Quibi invested nearly $1.8 billion into short-form video content without adequately addressing user behavior, leading to its shutdown just six months after launch in December 2020. These cases highlight the non-negotiable need to align digital solutions with market behavior and user expectations. The integration of artificial intelligence also reveals a significant digital skills gap among public sector employees. The World Bank recommends a phased approach to digital transformation that incorporates sustainable reskilling of staff to ensure long-term success. Moreover, the lack of interoperability between legacy systems and new digital platforms leads to disjointed user experiences and market losses-as seen in the case of Sears , the retail giant whose failure to integrate physical stores with its digital platform led to its closure in 2018. The company's downfall was rooted in a disconnect between corporate culture and the digital capabilities of its workforce. Economically, digital platforms exert downward pressure on prices due to their inherent transparency. Without delivering clear added value, institutions risk losing their competitive edge rapidly. Additionally, building secure and highly available digital infrastructure is a costly endeavor-especially in countries lacking robust technological ecosystems. Cybersecurity threats are becoming more acute in tandem with the expansion of digital operations. Security reports from 2024 highlight a sharp increase in cyberattacks targeting government systems in countries where digitization has outpaced cybersecurity investments. The primary vulnerability, according to these reports, lies in the imbalance between spending on user interfaces or cloud infrastructure and underinvestment in cybersecurity. Digital inclusion remains a fundamental challenge. Digital services often benefit urban populations and younger generations, while the elderly and rural communities are left behind-widening the digital and social divide. Harvard Business Review stresses that institutional resistance to change-whether from employees fearing job loss or from senior leaders who fail to genuinely embrace transformation-is a key driver behind the failure of digital initiatives. In conclusion, AI-powered digital administration offers a powerful lever for enhancing performance and transparency in Iraq and across developing economies. However, it is not a silver bullet. Success requires a balanced approach that harmonizes technology with human capability, and ambition with realism. This involves adopting an integrated strategy based on sustained investment in human capital, the endorsement of transformative leadership, the implementation of secure and equitable digital governance, and the pursuit of inclusive digitization that reaches all segments of society. Through this holistic framework, developing countries can reap the benefits of digital transformation while avoiding its pitfalls.
Zawya
17-02-2025
- Business
- Zawya
Jordan, Iraq explore partnerships at investment, renewable energy, finance conference
AMMAN: The Investment, Renewable Energy and Finance Towards a Sustainable Digital Future conference kicked off in Amman on Sunday. Organised by the Iraqi Business Council in partnership with the Jordan Chamber of Industry, the Amman Chamber of Industry, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), the event brought together key stakeholders from the region and beyond, the Jordan News Agency, Petra, reported. Participants included the European Bank for Reconstruction and Development, the Association of Iraqi Private Banks, the Arab Businessmen Association, as well as Iraqi business councils, local and international economic institutions, and a delegation of Libyan business leaders. The one-day conference focused on investment opportunities, financing and digital transformation, with a special emphasis on promising sectors such as banking and finance, industry and mining, renewable energy and ICT. Minister of State for Economic Affairs Muhannad Shehadeh, who opened the conference on behalf of the prime minister, stressed that the event is in line with His Majesty King Abdullah's vision to promote economic integration and boost Jordan-Iraq cooperation, especially in the fields of investment, trade and industry. He stressed the importance of strategic investments and partnerships in promoting sustainable economic development, noting that Jordan remains committed to creating a secure and conducive business environment. He said that the conference serves as a platform for dialogue between governments, private sector leaders and international institutions, helping to improve the investment climate and drive long-term economic growth. Shehadeh also highlighted Jordan's key role in regional economic cooperation, pointing to critical sectors such as infrastructure, renewable energy, industry, mining, financial services, telecommunications and transport. He also stressed that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers both nations new avenues for prosperity. The Minister highlighted important joint initiatives, including the Jordan-Iraq electricity interconnection project, which is expected to be launched in the second quarter of this year. He also reiterated Jordan's commitment to supporting Iraq with all available resources to ensure a robust partnership that benefits both countries. Shehadeh also highlighted the potential of large-scale infrastructure projects such as the Special Economic Zone and the Joint Industrial City, stressing the need to move these initiatives from planning to implementation. He also recognised Iraq as one of Jordan's most important trading partners, with bilateral trade having grown significantly in recent years. Chairman of the Iraqi Business Council in Jordan Majid Saadi reiterated the conference's goal of diversifying investment and promoting economic integration between the two countries in the face of regional challenges. Saadi noted that Iraqi investors have established successful companies in Jordan to serve local and Iraqi markets. He called for more joint investment projects and stronger economic partnerships, noting that Jordanian investments in Iraq include the banking, IT and education sectors. He also commended the support of King Abdullah and Iraqi Prime Minister Mohammed Al Sudani in facilitating private-sector engagement. President of the Jordan Chamber of Industry Fathi Jaghbir stressed the need to capitalise on untapped investment opportunities through innovative strategies in line with global economic shifts. He called for reforming investment mechanisms and leveraging digital transformation to increase business efficiency and enhance production capabilities. Iraqi Ambassador to Jordan Omar Barzanji reaffirmed Iraq's commitment to facilitating investment and economic reform, noting that streamlining business regulations is key to driving economic progress in both countries. He highlighted Iraq's 2024-2028 Development Plan, which aims to achieve economic growth of over 4 per cent, increase GDP per capita, diversify revenue streams and attract both domestic and foreign investment. The plan also aims to reduce poverty to 5 per cent, promote local development, develop the transport sector, improve food security and strengthen environmental protection and international partnerships.
Jordan Times
16-02-2025
- Business
- Jordan Times
Jordan, Iraq explore partnerships at investment, renewable energy, finance conference
Minister of State for Economic Affairs Muhannad Shehadeh stresses that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers new avenues for prosperity (Petra photo) AMMAN — The Investment, Renewable Energy and Finance Towards a Sustainable Digital Future conference kicked off in Amman on Sunday. Organised by the Iraqi Business Council in partnership with the Jordan Chamber of Industry, the Amman Chamber of Industry, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), the event brought together key stakeholders from the region and beyond, the Jordan News Agency, Petra, reported. Participants included the European Bank for Reconstruction and Development, the Association of Iraqi Private Banks, the Arab Businessmen Association, as well as Iraqi business councils, local and international economic institutions, and a delegation of Libyan business leaders. The one-day conference focused on investment opportunities, financing and digital transformation, with a special emphasis on promising sectors such as banking and finance, industry and mining, renewable energy and ICT. Minister of State for Economic Affairs Muhannad Shehadeh, who opened the conference on behalf of the prime minister, stressed that the event is in line with His Majesty King Abdullah's vision to promote economic integration and boost Jordan-Iraq cooperation, especially in the fields of investment, trade and industry. He stressed the importance of strategic investments and partnerships in promoting sustainable economic development, noting that Jordan remains committed to creating a secure and conducive business environment. He said that the conference serves as a platform for dialogue between governments, private sector leaders and international institutions, helping to improve the investment climate and drive long-term economic growth. Shehadeh also highlighted Jordan's key role in regional economic cooperation, pointing to critical sectors such as infrastructure, renewable energy, industry, mining, financial services, telecommunications and transport. He also stressed that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers both nations new avenues for prosperity. The Minister highlighted important joint initiatives, including the Jordan-Iraq electricity interconnection project, which is expected to be launched in the second quarter of this year. He also reiterated Jordan's commitment to supporting Iraq with all available resources to ensure a robust partnership that benefits both countries. Shehadeh also highlighted the potential of large-scale infrastructure projects such as the Special Economic Zone and the Joint Industrial City, stressing the need to move these initiatives from planning to implementation. He also recognised Iraq as one of Jordan's most important trading partners, with bilateral trade having grown significantly in recent years. Chairman of the Iraqi Business Council in Jordan Majid Saadi reiterated the conference's goal of diversifying investment and promoting economic integration between the two countries in the face of regional challenges. Saadi noted that Iraqi investors have established successful companies in Jordan to serve local and Iraqi markets. He called for more joint investment projects and stronger economic partnerships, noting that Jordanian investments in Iraq include the banking, IT and education sectors. He also commended the support of King Abdullah and Iraqi Prime Minister Mohammed Al Sudani in facilitating private-sector engagement. President of the Jordan Chamber of Industry Fathi Jaghbir stressed the need to capitalise on untapped investment opportunities through innovative strategies in line with global economic shifts. He called for reforming investment mechanisms and leveraging digital transformation to increase business efficiency and enhance production capabilities. Iraqi Ambassador to Jordan Omar Barzanji reaffirmed Iraq's commitment to facilitating investment and economic reform, noting that streamlining business regulations is key to driving economic progress in both countries. He highlighted Iraq's 2024-2028 Development Plan, which aims to achieve economic growth of over 4 per cent, increase GDP per capita, diversify revenue streams and attract both domestic and foreign investment. The plan also aims to reduce poverty to 5 per cent, promote local development, develop the transport sector, improve food security and strengthen environmental protection and international partnerships.
Jordan Times
08-02-2025
- Business
- Jordan Times
Iraqi Business Council to hold conference in Amman to enhance partnerships
Iraqi Business Council in Amman on February 16 is scheduled to organise a conference under the theme: 'Investment, Renewable Energy and Financing... Towards a Sustainable Digital Future.' (Petra photo) AMMAN — Iraqi Business Council (IBC) in Amman on February 16 is scheduled to organise a conference under the theme: "Investment, Renewable Energy and Financing... Towards a Sustainable Digital Future." The event will be held in partnership with the Jordan and Amman chambers of industry, International Finance Corporation and Multilateral Investment Guarantee Agency (MIGA), the Jordan News Agency, Petra, reported. According to the IBC statement on Saturday, the European Bank for Reconstruction and Development (EBRD), Iraqi Banks Association, Federation of Arab Businessmen, Iraqi business councils and local and international economic institutions will attend discussions. The one-day event focuses on investment, financing and digital transformation opportunities, highlighting "promising" sectors including the financial and banking sector, industry, mining, renewable energy, communications and information technology. The statement added that the conference constitutes a platform for direct contact among companies, representatives of strategic projects and financial institutions, providing "valuable" opportunities for expanding business and expanding into regional markets. Naji noted that the conference agenda represents an "exceptional" opportunity to enhance "strategic" Jordanian-Iraqi partnerships, as the two countries' investors and business owners will explore cooperation prospects and investment. He also pointed out that participation of "leading" international financial institutions would contribute to providing support for major projects and stimulating investment. Page 2
Jordan News
08-02-2025
- Business
- Jordan News
Enhancing the Jordanian-Iraqi Economic Partnership - Jordan News
Amman,Iraqi Business Council (IBC) in Amman is organizing on February 16, a conference, themed: "Investment, Renewable Energy and Financing... Towards a Sustainable Digital Future." اضافة اعلان The event comes in partnership with Jordan and Amman Chambers of Industry, International Finance Corporation and Multilateral Investment Guarantee Agency (MIGA). According to an IBC statement Saturday, the European Bank for Reconstruction and Development, Iraqi Banks Association, Federation of Arab Businessmen, Iraqi business councils and local and international economic institutions will attend discussions. The one-day event focuses on investment, financing and digital transformation opportunities, highlighting "promising" sectors including the financial and banking sector, industry, mining, renewable energy, communications and information technology. The statement added that the conference constitutes a platform for direct contact among companies, representatives of strategic projects and financial institutions, providing "valuable" opportunities for expanding business and expanding into regional markets. IBC Vice President and Head of the Preparatory Committee, Dr. Saad Naji, said Iraqi Minister of Industry and Minerals, Dr. Khaled Battal, Governor of Central Bank of Iraq, Dr. Ali Al-Alaq, other officials and representatives of Jordanian and Iraqi financial and banking sectors will participate. On its agenda, Dr. Naji noted the conference represents an "exceptional" opportunity to enhance "strategic" Jordanian-Iraqi partnerships, as the two countries' investors and business owners will explore joint cooperation prospects and investment. Participation of "leading" international financial institutions adds an "exceptional" character, which would contribute to providing support for major projects and stimulating investment, he pointed out.
