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Minister Alswaha's visit to Meta sets stage for major AI innovations in the Kingdom Initiative aims to enhance the skills of a wide range of beneficiaries, including policymakers, law-enforcement agencies, diplomats and professionals in the field Focus areas include modernizing business models and boosting operational efficiency within the industrial sector Building sustainable talent pipelines is critical for unlocking AI's economic potential in the Middle East The agreement focuses on sectors with considerable growth potential, including industry, services, and the digital economy Saudi Arabia’s gain from AI will likely exceed other countries in the Middle East with around $135 billion in value by 2030 This agreement with Saudi Arabia is TRAI’s 20th bilateral deal, boosting telecom cooperation between India and the Gulf Value of Saudi Arabia's investments in Egypt has reached approximately $26 billion, with over 8,000 companies The event showcased over 500 Amazon Echo devices with Alexa during the 94th Saudi festivities The visit aims to boost cooperation in industry and mining, strengthen bilateral relations, and attract investments to the Kingdom This 17-rank jump among 83 countries highlights the Kingdom's rapid progress in AI adoption and development The announcement was made at the Saudi-Italian Business Forum at the Federation of Saudi Chambers' headquarters The Kingdom ranked seventh in the e-participation index, with Riyadh placed third among 193 global cities Dammam cloud region could create about 150,000 jobs by 2030 and support 1.2 million SMEs The meeting included bilateral talks with Brazil and India on cooperation in the space economy and related technologies SAMAI initiative marks a significant strategic step towards developing human capital in Saudi Arabia The agreement details collaboration in space activities, such as science research and remote sensing Saudi Arabia's exceptional performance across all five pillars highlights its leadership in this domain Partnership seeks to provide access to world-class cloud infrastructure, addressing the diverse needs of customers In 2023 alone, investments in fintech in Saudi Arabia exceeded $790 million, an 8-fold increase from 2021's $91 million The telecom, media & entertainment, and technology sectors could achieve the highest potential margin upside by adopting GenAI Samsung Pay provides secure payments, letting users manage digital cards in the Samsung Wallet app By the end of Q2 2024, the number of Fintech companies in the Kingdom reached 224, exceeding the target of 168 800+ development projects have been funded by SFD since inception
