Abu Dhabi highlights impact of COVID-19 on global economy

Abu Dhabi highlights impact of COVID-19 on global economy
Abu Dhabi highlights impact of COVID-19 on global economy

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Nevin Al Sukari - Abu Dhabi - Photo used for illustrative purpose.

Abu Dhabi School of Management owned by the Abu Dhabi Chamber held two webinars during UAE Innovation Month 2021. The webinars addressed the impact of COVID-19 on innovation and the global economy, along with wellness at work and responsible innovation.

Many academics, entrepreneurs, economists and those interested in developing Human Resources in the UAE and abroad attended the webinars.

Professor Leonardo Leiderman, a visiting professor at the Abu Dhabi School of Management and Professor of economics at the Coller School of Management and the Berglas School of Economics (Emeritus), reviewed the latest findings on the impact of the COVID-19 pandemic on global business and markets.

He explained that the pandemic, as it has often negatively affected, has also created new opportunities for innovation, as many companies have had to promote innovation in their systems in order to keep up with the new normal and the sustainability of their business.

Professor Leiderman addressed some important statistics from the analysis of the US management consultancy, McKinsey and Company, which stated that 90 percent of institutions and companies believe that the COVID-19 pandemic will fundamentally change the way they do business over the next five years. In addition, 85 percent believe that the pandemic will have a lasting impact on their customers’ needs and wants over the next five years.

In turn, Mohammed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber, said that the chamber has always been committed to supporting innovation and playing its vital role to stimulate creative ideas for Abu Dhabi private sector. Therefore, it holds specialisd webinars and adopts a number of qualitative initiatives that target innovation and innovators as well.

Al Mheiri also praised the importance of "UAE Innovates 2021", which enjoyed a wide participation of federal and local government agencies, academic institutions, private sector companies and various segments of society.

He noted that innovation events have become an integral part of the UAE's agenda, which has been characterised, since its foundation, by its ability to innovate. This has contributed a lot to enhancing its social and economic status making it a destination for the talented and businesses and an incubator for all innovations in a short period.

He pointed out that interest in digital innovations, research and technologies is one of the key pillars of shaping a competitive and sustainable knowledge economy. He added that the Chamber is always keen to be a major and active contributor to the development journey and to serve the private sector in the UAE.

On the other hand, Dr. Rommel Sergio, Professor of Management and the MSLOD Programme Director at ADSM presented the second webinar where he addressed the range of possible ways to achieve wellness at work and the positive reflection on the institutions as a whole.

WAM

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