SCAI — wholly owned by Saudi Arabia’s Public Investment Fund — will support local firms as they develop AI solutions, according to the company’s chairman, Dr. Abdullah bin Sharaf Alghamdi.
He said: “As PIF’s arm in the AI and emerging technologies sector, the company will develop local capability, cutting edge technology, and strategic partnerships to support creating Saudi-owned solutions in the AI ecosystem.”
Ayman AlRashid, CEO of SCAI, added that AI is swiftly altering the way of living and the Kingdom should invest in the sector’s foundation in an attempt to unveil long term sustainable value for all stakeholders.
The launch of SCAI is in line with the Kingdom’s Vision 2030 of diversifying the economy, and also it meets the PIF’s strategy which prioritizes 13 major sectors, one of which is technology.
Copyright: Arab News © 2022 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).