By Radwan Radwan — arabnews.com — JEDDAH: In the coming years, artificial intelligence technology is expected to transform economies, business practices and the way people live, work and consume. Conscious of these potentially momentous changes on the horizon, Saudi Arabia is pouring investments into AI research and development. The Kingdom launched its National Strategy for Data and Artificial Intelligence in October 2020 aimed at becoming a global leader in the field, as it seeks to attract $20 billion in foreign and local investments by 2030. Saudi Arabia is also determined to future-proof its workforce, for a start by training and developing a pool of 20,000 AI and data specialists. Riyadh’s adoption of digitalization and emerging technologies is forecast to contribute some 2.4 percent to its gross domestic product by 2030, according to a recent report by global consultancy firm PwC.
In terms of average annual growth in the contribution of AI by region, Saudi Arabia is expected to grab a 31.3 percent share in the technology’s expansion between 2018 and 2030, the PwC report added. “I believe that Saudi Arabia has a huge potential,” Ali Al-Moussa, a Saudi entrepreneur and AI expert, told Arab News. “Being in the field for years now, I saw a lot of smart, talented people who are able to compete with (others around) the globe to create great technologies, not only artificial intelligence, but everything from robotics to blockchain, you name it.” Saudi Arabia’s drive toward new technologies aligns with the objectives of the Vision 2030 social reform and economic diversification agenda, which aims to strengthen the Kingdom’s position as the regional leader in the field.