WEF experts examined COVID-19 impact on technology adoption by SMEs

NUR-SULTAN. KAZINFORM The consultant of the World Economic Forum's (WEF) in Kazakhstan, expert Tangul Abdrazakova, prepared a report «The impact of COVID-19 on technology adoption in small and medium-sized enterprises: implications and prospects», published in December 2021.

The report highlights the barriers and related recommendations to promote wider adoption of these technologies where it can help to improve productivity for SMEs.

Small and medium-sized enterprises (SMEs) represent more than 90% of all companies globally and are an important driver of social mobility, creating seven out of 10 jobs. Unfortunately, these companies are struggling to embrace the Fourth Industrial Revolution (or Industry 4.0). The COVID-19 pandemic has posed unprecedented challenges for SMEs, the AIFC’s official website reads.

The Policy recommendations identified four main policy intervention areas: raising awareness, expert support and upskilling, financial support and collaborative environments.

To ensure that industrial companies in emerging markets are competitive, sound industrial policies should be introduced, says the author of the report.

The full version of the White Paper can be downloaded here.

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The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus.

www.aifc.kz

AIFC Tech Hub is the meeting point for global start-ups, entrepreneurs, corporations, investors, experts, and specialists in the field of innovation. Technology development in the AIFC includes programs to support startups, corporate innovations, the venture capital market, specially developed rules and a regulator that allow testing products and solutions in the field of technology. https://tech.aifc.kz/

The affiliate Centre for 4 Industrial Revolution in Kazakhstan was launched by the World Economic Forum (WEF) together with AIFC and the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan in July 2021. AIFC Tech Hub implements the Industry 4.0 direction within the Affiliate Centre for the 4th Industrial Revolution (4IR), which was launched in July 2021 and started functioning in September 2021, and it provides exceptional opportunities and resources.