Saudi Arabia making rapid strides in Artificial Intelligence
Saudi Arabia is poised for accelerated adoption of
artificial intelligence (AI) to drive efficiency across its industries,
positioning itself as a global leader in the field.
AI has evolved into a transformative force revolutionizing
various industries worldwide. Its widespread adoption promises significant
advancements, reshaping how people live and work.
A recent report by PwC forecasts that AI's economic impact
in the Middle East by 2030 could reach $320 billion, with Saudi Arabia
accounting for an estimated $135.2 billion. The region is experiencing annual
growth rates in AI contribution ranging from 20 percent to 34 percent, with
Saudi Arabia trailing closely behind the UAE.
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"The growth and demand for AI demonstrate its
substantial and wide-ranging impact on industries, both in Saudi Arabia and the
wider region," remarked Slava Bogdan, CEO & co-founder at Flowwow.
Flowwow, a global gifting marketplace, utilizes AI to
streamline operations, automate tasks, and enhance customer experiences,
illustrating the technology's versatility across various sectors.
AI algorithms enable businesses to automate repetitive
tasks, analyze vast amounts of data for informed decision-making, and enhance
customer experiences. This transformative potential extends to various sectors,
including finance, where AI aids in forecasting, resource allocation, and risk
management.
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Brahim Laaidi, partner at Bain & Co., emphasized AI's
role in Saudi Arabia's economic diversification, fostering a knowledge-based
economy, and driving growth across sectors like energy and healthcare.
Moreover, AI enhances customer experiences by enabling 24/7
support through chatbots and personalizing interactions based on behavior
analysis.
The Kingdom's AI initiatives, such as the National Strategy
for Data and AI, aim to establish Saudi Arabia as a global AI leader by 2030.
Projects like Neom, a smart city, are integrating AI into urban planning and
environmental management.
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To address challenges like ethical considerations, data
governance, and skill gaps, the Saudi Data and Artificial Intelligence
Authority and the National Cybersecurity Authority are actively involved in
regulating AI development and safeguarding digital infrastructure.
Jad Haddad, head of Digital IMEA at Oliver Wyman,
highlighted AI's potential to augment human capabilities, improve efficiencies,
and democratize access to intelligence.
By investing in infrastructure, high-performance computing,
and cloud capabilities, Saudi Arabia is creating an environment conducive to AI
development and adoption. International collaborations with leading AI research
entities further accelerate AI capabilities.
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to boost AI capabilities across Neom and Saudi Arabia
For companies like GGTech Entertainment, AI presents
opportunities to enhance gaming experiences, drive innovation, and contribute
to Saudi Vision 2030's goals of economic diversification and youth empowerment.
As Saudi Arabia continues its journey toward becoming an AI
leader, investments in education, infrastructure, and workforce development
remain pivotal to harnessing AI's full potential and driving sustainable
growth.
Source: Arab News
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