Saudi Arabia's Private Sector to Accelerate AI-Driven Innovation
Saudi Arabia is stepping up its AI capabilities within the private sector through a new agreement aimed at speeding up digital transformation across major industries. The Saudi Data and Artificial Intelligence Authority (SDAIA) has signed a memorandum of understanding (MoU) with the Private Sector Partnership Reinforcement Program, known as Shareek. This partnership will focus on detailed market studies and collaboration with relevant authorities to drive AI adoption.
The MoU includes plans to develop AI-focused business models and deliver technical consulting services to private companies involved in the Shareek program. This effort supports the Kingdom’s Vision 2030 strategy, which targets generating $135.2 billion in economic value from AI by the decade’s end. It also aims to increase the private sector’s GDP contribution to 65%, marking a clear shift from oil dependency toward technology-driven growth.
Key Objectives of the Partnership
- Conduct comprehensive market research related to AI opportunities.
- Develop business models aligned with AI capabilities for private sector entities.
- Offer specialized technical consultation to support AI integration.
- Identify and prioritize investment opportunities in collaboration with authorities.
- Promote investment opportunities within the Shareek program framework.
Since its launch in 2021, Shareek has been a flagship public-private partnership program with the goal of unlocking SR5 trillion ($1.33 trillion) in investments by 2030. It supports Saudi companies in accelerating growth and fostering economic development, placing a strong emphasis on large-scale digital transformation.
Expanding Global Tech Collaborations
Saudi Arabia continues to widen its tech partnerships worldwide. In May, SDAIA signed an MoU with Advanced Micro Devices (AMD) during the Saudi-US Investment Forum in Riyadh. This deal targets the development of AI data centers powered by AMD technologies, bolstering the Kingdom’s digital infrastructure.
Saudi Arabia’s global AI standing is also rising, with the country ranked third worldwide in the OECD AI Policy Observatory as of December, following only the US and the UK. This progress signals a growing commitment to positioning the Kingdom as a significant player in the AI landscape.
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