Saudi government reports or industry analyses

Saudi Arabia Plans $100 Billion AI Investment, Google to Open AI Hub in Oil-Rich Kingdom

Nov 6, 2024, 05:54 PM

Saudi Arabia is making a significant push to become a global leader in artificial intelligence (AI) by leveraging its oil wealth. The kingdom is planning a $100 billion investment to establish a leading AI powerhouse, aiming to rival the UAE's tech hub. Key components of Saudi Arabia's strategy include offering cash, land, and cheap renewable energy to attract AI development. At its annual 'Davos in the desert' summit, Saudi Arabia pitched its vision to become a global hub for AI. Additionally, Google is opening an AI hub in oil-rich Saudi Arabia, further solidifying the kingdom's commitment to AI innovation. The Saudi Data and Artificial Intelligence Authority (SDAIA) has reported that Saudi Arabia is leading the way in global AI innovation. The kingdom's AI initiative, 'Project Transcendence,' is modeled after the UAE's ALAT framework and aims to build a robust local AI ecosystem, fostering innovation and capability within the country. Saudi Arabia is setting its sights on AI dominance in MENA, aiming for a digital transformation that will shape industries from health to energy.