Egypt’s CIB bank partners with World Economic Forum

Egypt’s biggest private bank, Commercial International Bank (CIB) is partnering with the World Economic Forum to cope with the fourth industrial revolution.

The Fourth Industrial Revolution is a term coined by Klaus Schwab at the World Economic Forum to mark the next phase in human progress. It represents a technology shift that will alter how people live, work, and relate to one another. Building on the connectivity and automation that characterised the Digital—or Third—Industrial Revolution, the arrival of the Fourth Industrial Revolution differs greatly in terms of scope, velocity, and systems impact.

The partnership, the first of its kind in Egypt and the Middle East, aims to develop the skills needed to co-design and pilot innovative new approaches to policy and governance in the Fourth Industrial Revolution.

CIB’s chairman Hisham Ezz Al-Arab has signed the partnership with Klaus Schwab, founder and executive chairman of the World Economic Forum.