PROJECTS: PIF-owned Saudi Company for Artificial Intelligence starts operations

The Saudi Company for Artificial Intelligence (SCAI), a company wholly owned by the Public Investment Fund (PIF), has commenced operations to grow and develop artificial intelligence (AI) and emerging technologies industries in Saudi Arabia.

 

SCAI said in a press statement on Monday that the company’s operations will focus on delivering end-to-end cutting-edge AI solutions across various disciplines in AI. These will apply to a wide range of use cases for both business and consumers in prioritised sectors for the Kingdom such as energy and healthcare. SCAI will also aim to be the trusted AI provider for smart city practical solutions.

 

“We are pleased to announce the start of operations at SCAI. 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 in line with Vision 2030 objectives of diversifying and growing the economy and improving the quality of life for Saudi citizens,” said SCAI Chairman, Dr Abdullah bin Sharaf Alghamdi.

 

“SCAI will be a key enabler to promote the national AI objectives and accelerate technological adoption across various sectors in the Kingdom. The world is embracing the era of data and information, and AI is rapidly changing the way we live. It is critical for Saudi Arabia to invest in the foundations of the sector to unlock long term sustainable value for all stakeholders in the Kingdom and beyond,” added Ayman AlRashid, CEO of SCAI

 

SCAI’s mandate is aligned with PIF’s strategy, which focuses on 13 priority sectors, including the technology sector, the statement said.

 

(Writing by SA Kader; Editing by Anoop Menon)