UAE, Bahrain tech leaders gauge impact of Israel accords on business

The normalization deals between Israel and Gulf countries Bahrain and UAE will pave the way to technology innovation and the transfer of IT and expertise, say enterprise tech leaders — but it will take time.

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The normalization deals with Israel that have been struck by the UAE and Bahrain will spark innovation, fuel startup growth and pave the way for the transfer of expertise and technology, say enterprise IT leaders in the Gulf nations. But don't expect it all to happen immediately.

The ingredients for cross-border deals already exist. Israel has come to be known as the "startup nation," for its thriving tech sector. At the same time, the push by Gulf nations to diversify their economies away from oil and gas has lent urgency to the adoption of emerging technology as a driver for business innovation.

"The normalization will positively impact the economy, with new markets opening up for the countries involved," said Jyoti Lalchandani, Group Vice President at IDC for the Middle East, Turkey & Africa.

"The impact extends to aspects such as trade (demand and supply of products and services between the economies), skills (accessibility and  availability of skills), capital (investments), and innovation (exchange of know-how).  Technology is where the most significant impact is expected to be," Lalchandani said.

Israel tech has been deployed in Gulf indirectly

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