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United Arab Emirates has launched several ambitious programs to become a Knowledge Economy.It will remain as a dream unless the UAE adopts some drastic steps, including defining Knowledge Economy different from Information Economy and Internet Dominated Activities and incorporating new research on Intelligent Internet - Internet of Things/Cities/People.
The major challenge of the UAE in becoming a Knowledge Economy is to redefine 'Knowledge Economy' besides Education and Qualifications. With some idea of 'Knowledge Management' which is Data or Information Management rather than 'Knowledge Management', nobody can create a Knowledge Economy.
The attached YouTube video may be useful in clarifying the concepts of Knowledge, Information, Data, Knowledge Industry, Knowledge Economy, though it discuss more about Kerala.