A recent study estimated that Artificial Intelligence (AI) technology has contributed over 55 trillion SAR to the global economy. In the Middle East, Saudi Arabia’s own contribution is set to reach 2.1 trillion by 2030.
A PWC study suggested that 24.8 trillion SAR will be gained from productivity growth, whilst 34.2 trillion SAR is to be gained from consumption revenues. The study recognised Saudi Arabia as being the largest AI technology contributor in the Middle East, highlighting the expectation that the Kingdom will have the largest share in this rapidly expanding market. This expectation is likely to come true as a result of the remarkable enthusiasm and effort placed upon fulfilling the objectives of Saudi Vision 2030.
The tech community is eagerly anticipating the Saudi International AI & Cloud Expo, held in February 2022 in Riyadh. This major event will host both local and international industry leaders in tech, providing a chance for companies in different markets to share their experiences and forge new relationships.
The Small and Medium Enterprises General Authority, ‘Monsha’at’, represented by ‘Thakaa Center’ announced its participation as a strategic partner of the event. ‘Monsha’at’ will open up opportunities for start-ups and entrepreneurs in the AI sector to participate in this major event. These opportunities will be realised through ‘Thakaa Center’, specialists in emerging technologies such as data science, artificial intelligence and cyber-security. This move aims to encourage the adoption of technology and innovation within Saudi Arabian SMEs in conjunction with the Vison 2030 objectives.
His Excellency, the Governor of ‘Monsha’at’, Eng. Saleh Alrasheed stated “Monsha’at is eager to participate in all the events, expos and conferences that support entrepreneurs in developing smart solutions and innovative products using artificial intelligence, cloud computing and the internet of things. This is to encourage Saudi talent to proceed further with their innovation journeys, aiming to increase tech start-ups in this vital field and to find progressive solutions that best address the challenges faced by the Sector, in addition to creating new investment opportunities.”
He emphasised that this is a compliment to the great effort of ‘Monsha’at’ in supporting tech start-ups and their projects, especially those within the realm of artificial intelligence and cloud computing. His Excellency went on to highlight Saudi Vision 2030’s dedication to improving this sector due to the firm belief that it plays a vital role in promoting economic growth.
The Chairman of the Organising Committee of the Saudi International AI & Cloud Tech Expo we are especially pleased with the strategic partnership. stressed the event’s importance as a “golden opportunity” for specialised Saudi companies to keep up with the AI and Cloud Computing environment in what is currently an invaluable field for the nation. Al Sudari expects over 150 participants from across the globe, with over 60 speakers attending the event.
Further, the Chairman stated, “The Expo will be an exceptional economic tech event that emphasises on practicing artificial intelligence in various organisations. It will also demonstrate the importance of cloud computing and artificial intelligence for humanity, so that we can best reach our potential and create a better, more secure future for everyone.”
They went on to add, “The three-day event will be presenting in-depth innovative ideas about technological development, aiming to keep pace with these technological revolution paths that include conferences, seminars and workshops related to both artificial intelligence and cloud computing.”