First Economic Forum Sees 30,000 Views
The activities of the First Annual Economic Forum, titled "Our Economy and Artificial Intelligence," discussed the role of artificial intelligence in strengthening the Saudi economy and making it more competitive. The discussions focused on transforming technological advancements into investment and productivity opportunities. The forum demonstrated that Saudi Arabia has moved from the vision stage to implementation, with government spending on communications and information technology services reaching approximately 31.9 billion Riyals by 2025, and an increase of around 20% in spending on artificial intelligence and emerging technologies. Participants affirmed that artificial intelligence is reshaping the global investment landscape, and that the Kingdom possesses competitive advantages such as energy, capital, and vast spaces, which enhance its ability to attract digital economy investments. They also emphasized the importance of training and human capacity building to ensure the successful application of AI, as the Kingdom seeks to boost its position as a global hub for data and artificial intelligence as part of the 2026 plan.
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