This article by Dr. Tanya Filer explores the emerging GovTech industry.
It addresses the values that must be held during the application of any GovTech scheme as the vendors of such solutions, if private, would primarily be obligated towards maximizing private value for their owners or shareholders. It would be the government’s role to hold tech companies up the highest level of ethics.
The value of GovTech is exponentially increasing year on year. On the back of PUBLIC’s GovTech UK Market report in 2018, the chairman of the 1st global GovTech summit in Paris had announced that $400 billion global GovTech industry will increase 15% a year over the next six years towards a whopping $1 trillion industry by 2025.
Value to the UAE Government
In the UAE, where the government has launched countless initiatives with the aim of increasing the wellbeing of all residents and citizens alike, the roll of GovTech is indeed a vital component and is here to stay. Defining a clear value system (openness, accountability, efficient use of public funds, prioritizing ‘user needs’, etc) for this emerging sector and consistently having it updated is of prime significance. The associated risks could produce a new generation of powerful tech companies, handling public life and citizen data with limited accountability.