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Saudi AI undergoes renewal test
A recent study has revealed that Saudi companies are moving beyond the initial phase of building AI capabilities and experimentation, and are now testing the economic returns from their investments. The results show improvements in productivity and customer experience, although financial returns remain below global levels. Saudi organizations allocate approximately 11% of their budgets to AI, with an estimated return on employment of around 30%, compared to 37% globally. The current challenge lies in the ability of companies to measure the return and effectively convert operational gains into monetary value. Additionally, data indicates that 60% of companies have experienced increased productivity, and 67% have improved customer experience. Usage is increasingly aimed at boosting revenue and enhancing business models, with rapid expansion of digital infrastructure and data center development across the Kingdom. Expectations suggest that adopting AI could raise the Kingdom's real gross domestic product (GDP) by approximately 0.1 to 0.4 percentage points annually over the next decade, potentially reaching an overall increase of 6% in GDP if readiness gaps are closed and investments are increased.
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