India’s Disprz aims to upskill Saudi workforce

Disprz is targeting the integration of generative AI across its entire product suite, with the first beta version slated for a September release. (Shutterstock)
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Updated 04 September 2023
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India’s Disprz aims to upskill Saudi workforce

  • Firm sets sights on transforming KSA’s workforce with AI-driven strategy

CAIRO: As artificial intelligence continues to revolutionize industries globally, Saudi Arabia has emerged as a regional powerhouse in this domain with major global tech companies increasingly viewing the Kingdom’s market as a pivotal element for their worldwide operations.  

Disprz, a front-runner in skilling and talent development based in India, is setting its sights on transforming Saudi Arabia’s workforce. Leveraging its new AI-powered strategy, the company aims to make a significant impact on the Kingdom’s labor market.  

In an interview with Arab News, Subbu Viswanathan, co-founder and CEO of Disprz, shed light on the company’s ambitious future plans.    

He revealed that Disprz aims to establish itself as a global leader in workforce development, using Saudi Arabia as a pivotal launchpad.  

After successfully raising $30 million in a Series C funding round in August, Viswanathan said Disprz is well-positioned to pursue global expansion, with a particular focus on the Saudi Arabian market.    

The CEO of the corporate learning and skilling SaaS startup expressed his eagerness to build upon an already established customer base in the region.  

“One of the markets that we are particularly keen on expanding in is Saudi Arabia. We already have a good set of customers but now we want to amplify it,” Viswanathan said.  

He noted that the company is already collaborating with key enterprises in Saudi Arabia, including NEOM, SRMG, and Tawuniya Insurance, among others.  

The goal is to adapt Disprz’s global products to align with the specific cultural and business needs of Saudi Arabia, Viswanathan explained.    

This glocalization strategy aims to combine the company’s global expertise in workforce development with a deep understanding of local demands.  

Viswanathan also provided some metrics to underline the company’s regional ambitions. 

One of the markets that we are particularly keen on expanding in is Saudi Arabia. We already have a good set of customers but now we want to amplify it.

Subbu Viswanathan, Co-founder and CEO of Disprz

“We currently serve around 350 global customers, including a dozen from Saudi Arabia and 70 from the broader Middle East. Our goal is to expand our Middle East customer base to 500 within the next three years, with the majority originating from the Kingdom.”  

Additionally, Viswanathan stated that the company aims to have 1,500 clients globally by 2026.  

The company employs AI to pinpoint the specific skills required for each role within an organization.  

This goes hand-in-hand with a comprehensive assessment of frontline workers followed by tailored training programs.    

These AI-driven initiatives are designed to equip employees with the necessary skill sets for career advancement and to meet evolving industry demands.  

“We are in the business of providing platforms to companies to help them solve the problem of skilling their workforce for the jobs of today and tomorrow. And our mission statement is very simple. It is to enable every person at work, to advance at work and life through the best science and technology,” Viswanathan explained.    

He outlined that the company’s primary target market compromises any enterprise that has over 300 employees.  

Moreover, Disprz is targeting the integration of generative AI across its entire product suite, with the first beta version slated for a September release.  

“We are on a strategic path to escalate our annual revenue from $10 million to $100 million. With a consistent annual growth rate of 100 percent, we project to achieve profitability by the second half of 2024,” the executive stated. 

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After successfully raising $30 million in a Series C funding round in August, Disprz is well-positioned to pursue global expansion, with a particular focus on the Saudi Arabian market.

He elaborated that the company’s path to profitability is predicated on substantial growth in Middle Eastern markets, particularly in Saudi Arabia.  

“The Saudi Arabian government is heavily investing in making the country a top destination in tourism, technology, and entrepreneurship,” Viswanathan stated.  

“We believe that we can be a key element in boosting the Kingdom’s transformation by getting the workforce ready for the challenges of the future. The world is changing very fast, we can help make the workforce ready for any disruptions,” he added.  

Viswanathan also revealed that Disprz is actively seeking partnerships with Saudi government institutions to bolster economic growth.    

“I do believe that Saudi Arabia is one of the growth engines of the world. If I were to name the top three economies that will attract significant investments in the future, Saudi Arabia will be on top of the list, followed by India and Indonesia,” he added.  

By aligning itself with public sector goals, the company aims to become the go-to upskilling platform for Saudi nationals. Such collaborations would not only enhance the skill levels among the local population but also contribute to achieving the milestones laid out in the Kingdom’s Vision 2030.  

Viswanathan expressed optimism about Saudi Arabia’s growing AI landscape, stating that the Kingdom has the potential to “leapfrog” more established technologies like information systems, and go directly to adopting AI solutions at scale.  

The CEO disclosed that while the company’s regional headquarters is presently situated in Dubai, plans are underway to establish an office in Saudi Arabia.    

“We are actively seeking a joint venture partner to facilitate the opening of a local office,” he stated.    

Viswanathan also indicated that should plans proceed favorably, there is potential for relocating the company’s regional headquarters to the Kingdom.  

Founded in 2015, Disprz managed to secure around $50 million in funding across four rounds while attracting notable investors like Lumos Capital, 360 ONE Asset, Kae Capital, KOIS, and Dallas Venture Capital.    

Disprz currently has around 350 employees across its offices and aims to reach 400 headcounts.


Saudi property forum to enhance local real estate supply chain access

Updated 16 sec ago
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Saudi property forum to enhance local real estate supply chain access

RIYADH: Saudi real estate firms are poised to gain improved access to the supply chain with major industry players set to gather in Riyadh for an event designed to enhance cooperation and forge partnerships.

Under the patronage of the Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, the National Housing Co. will host the Real Estate Supply Chain Forum from May 20 to 21 at the JW Marriot Hotel Riyadh, with the aim of fostering the growth of the property sector.

The event will gather a diverse array of local and international companies, consultants, contractors, and manufacturers to explore collaborative opportunities aimed at delivering integrated housing projects focused on quality and affordability, according to the Saudi Press Agency.

The forum will also provide promising investment opportunities, facilitate the signing of investment agreements and strategic partnerships, establish new standards, and find innovative solutions for real estate development.

Additionally, the gathering will unveil the latest agreements to secure supply chains between the NHC and a range of local and global partners.

Several scheduled dialogue sessions will showcase the latest technologies in the building materials industries. These talks will facilitate the exchange of expertise between local and international companies, aiming to enhance the supply chain network.

On May 5, the NHC signed a deal with China’s leading firm, CITIC Construction Group, to establish an industrial city and logistic zones for building materials, comprising 12 factories, with the objective of securing supply chains for the NHC’s housing projects.

NHC CEO Mohammad Al-Buty finalized the deal during Al-Hogail’s official visit to China.

The NHC said the agreement with the Chinese construction group is part of its efforts to secure supply chains for its housing projects and ensure their timely completion and high quality.

The Saudi company highlighted that the deal includes the construction of 12 factories specializing in building materials, harnessing Chinese expertise, and involving local factories to uplift business standards.

It added that the agreement also aims to draw top-tier service providers across various company sectors, its subsidiaries, and other projects.

The firm pointed out that the pact is expected to maximize the economic and developmental impact of the real estate sector in the Kingdom, develop housing projects, enhance their quality, and promote national transformation in the construction sector through these industrial cities and logistic zones.


British Airways to resume Jeddah operations, enhancing UK-Saudi connectivity

Updated 19 min 23 sec ago
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British Airways to resume Jeddah operations, enhancing UK-Saudi connectivity

RIYADH: British Airways is set to resume operations in Jeddah after a five-year hiatus, aiming to enhance connectivity to the Kingdom, the airline said. 

Announced at the GREAT Futures Initiative Conference held in Riyadh, the route is scheduled to commence on Nov. 4, offering year-round service to the Saudi city from London Heathrow, according to a press release. 

The new service, operated by the Boeing 787 fleet, will total four flights per week, and sit alongside the daily operations between Riyadh and Heathrow.

Speaking at the event, Colm Lacy, British Airways’ chief commercial officer, said: “We have a long history of connecting families, friends and businesses in the Kingdom of Saudi Arabia with our home in London.” 

He added: “There are significant opportunities for businesses in both countries, so we’re pleased we can re-build our connectivity and strengthen links between the two kingdoms.”  

In a joint statement, Mazen Johar, CEO of Jeddah Airports, and Majid Khan, CEO of Saudi Air Connectivity Program, said: “The return of the UK’s flag carrier to Jeddah, with new flights from London Heathrow, will further strengthen our air connectivity from the capital.” 

They added: "With British Airways’ leading network in the UK, Europe, and onwards to North America, travelers can experience an untouched wonder, Saudi Arabia, through one of the leading global carriers, further supporting our growing inbound tourism and aviation market.”  

Earlier this week, the Kingdom’s General Authority of Civil Aviation released a statement revealing that an ambitious roadmap outlining Saudi Arabia’s tenfold growth in the aviation sector into a $2 billion industry is on track to be unveiled at the Future Aviation Forum in May. 

The plans encompass the business jet segment, including charter, private, and corporate aircraft, and aim to bolster Saudi Arabia’s development as a global high-value enterprise and tourist destination, the statement noted at the time. 

It also highlighted that the plan comes after Saudi Arabia revised its 2030 tourism target upward from 100 million to 150 million visitors in October 2023. 

Also earlier this week, the Kingdom’s Minister of Commerce announced that partnerships between Saudi Arabia and the UK encompass over 60 initiatives across 13 sectors, with trade between the countries up by a third since 2018. 

During the opening remarks of the GREAT Futures Initiative Conference, Majid Al-Qasabi noted that bilateral trade surged between 2018 and 2023, exceeding £79 billion ($99.12 billion). 

With over 1,100 active licenses for UK investors, developments such as the giga-projects in the Kingdom and policy reforms are enhancing business opportunities, the minister emphasized. 


Closing Bell: Saudi main index dips for the second consecutive day 

Updated 15 May 2024
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Closing Bell: Saudi main index dips for the second consecutive day 

RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward movement for the second consecutive day, as it shed 17.71 points to close at 12,103.20.  

The total trading turnover of the benchmark index on Wednesday was SR6.30 billion ($1.68 billion), with 128 stocks advancing and 96 declining.  

On the other hand, Nomu, the parallel market, marginally went up by 0.03 percent to 26,666.16.  

However, the MSCI Tadawul Index edged down by 0.47 percent to close at 1,512.30.  

Saudi Industrial Development Co. was the best-performing stock on the main index. The company’s share price surged by 9.95 percent to SR9.61.  

Other top performers were Wafrah for Industry and Development Co. and Al-Baha Investment and Development Co., whose share prices soared by 9.9 percent and 7.69 percent respectively.  

The worst-performing stock was Basic Chemical Industries Co., as its share price slipped by 7.57 percent to SR33.60.  

On the announcements front, Seera Group Holding revealed that its net profit rose to SR61 million in the first quarter of this year, representing a rise of 7.01 percent compared to the same period of the previous year.  

In a Tadawul statement, the travel firm noted its total revenue for the first quarter stood at SR1.07 billion year on year driven by continued growth in the car rental and travel platform segments and the new acquisitions within Portman Travel Group.  

Lumi Rental Co. also announced its financial results. The company said that its net profit fell by 11.15 percent to SR44.71 million in the first quarter of this year compared to the same period in 2023.  

Zamil Industrial Investment Co., which reported its earnings, revealed that it swung to a net profit of SR5.42 million in the first three months of this year, compared to a net loss of 13.81 million in the same period of the preceding year.  

Zamil attributed the rise in profits to its sales growth, which went up by 25.5 percent, along with higher operating income in the steel and insulation sectors.  

Meanwhile, Shatirah House Restaurant Co., also known as Burgerizzr, reported a net profit of SR5.3 million in the first quarter of this year, compared to the SR1.4 million net loss it incurred in the same quarter of 2023. 

In a Tadawul statement, Burgerizzr said that the rise in net profit was driven by higher same-store sales and an increased number of guests. 


AI, tech to reshape healthcare in Saudi Arabia, UK: experts

Updated 15 May 2024
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AI, tech to reshape healthcare in Saudi Arabia, UK: experts

RIYADH: Saudi and British experts on Wednesday highlighted the importance of artificial intelligence and technology to enhance healthcare.

Taking to the main stage on the second day of the GREAT Futures Conference in Riyadh, experts from both nations shed light on the fast-evolving landscape of the health sector and the increasing role of the latest technology in that evolution.

A series of panel discussions revealed that the Kingdom aims to reduce waiting time and costs and improve the quality of life for its citizens through a strong focus on a more preventive, patient-centric system that brings quality care beyond the walls of the hospital and into an individual’s own home.

Inaugurating the event, the CEO of the Health Sector Transformation Program, which is part of the nation’s Vision 2030 directives, Dr. Khalid Al-Shaibani, said: “In Saudi Arabia, we have embraced digital health as a priority because of its potential to enhance healthcare delivery, improve patient outcomes, and drive economic growth.”

The CEO further posited that through a clear and unified vision, all sectors of the Saudi government are working together to make this future a reality, saying: “This initiative represents a bold and innovative approach where various sectors collectively work to enhance the health of our nation. By integrating health, equity, and sustainability into all decision-making processes, we foster an environment that promotes the well-being of our citizens.”

A future that, according to Al-Shaibani and his fellow speakers, including the UK’s Undersecretary of State in the Department of Health and Social Care, Nick Markham, and Dr. Abdulaziz Al-Homod, chief medical officer of Seha Virtual Hospital, could allow medical professionals to bridge the gap between primary and secondary care. 

This period, which is often characterized by an utter lack of awareness of the patient’s condition, could be supplemented by wearable technology, which could then track the patient’s vitals while simultaneously uploading them to a unified database, allowing for a clearer understanding of the patient’s progress before secondary care. 

Al-Homod noted that in secondary care, which could also become costly, innovation could further become an asset by allowing visits to be virtual, cutting costs and improving efficiency.

Highlighting the overall enthusiasm of the nation, he said: “It’s good to be here during this time and era if you are a company or a startup that wants to work in healthcare, there is a clear will and a clear strategy and we are focused on people. The healthcare ecosystem is hungry for innovation, and we think NEOM is gonna be unique and that Saudi Arabia is going to continue to lead (in healthcare innovation).”

Discussing areas of collaboration between the two kingdoms and the ever-present question of the use of AI, the undersecretary of state noted that the UK’s national health system, known as the NHS, has an extensive database, perhaps the largest in the world, due to its unified presence since 1948. 

This data could be “fed” to AI to allow for the detection of patterns that were perhaps previously not possible through merely the human eye. 

Markham said: “Actually, we can pull this all together into a fantastic set of data which can be used on parallel anywhere else, and we’ve got the diversity of the population as well because we know a lot of countries have homogeneous populations. You throw that all at AI and start to see patterns that we can’t see.”

According to the British official, this could serve to address long-standing medical questions, such as early detection of dementia and its treatment. 

Further affirming the collaborative relationship between the two nations in the field of emerging technologies, the head of the Research Development and Innovation Authority, Mohammed Al-Otaibi, noted that Saudi Arabia, represented by his body, signed a memorandum of understanding with the UK’s Department for Science, Innovation and Technology to work on research and development in deep-tech and science fields. 

Looking to the future, Al-Otaibi pointed to the recently launched Research Lab Support Program, which aims to disperse SR312 million ($83 million) to 30 entities overseeing 86 research labs across the Kingdom to accelerate R&D in medicine and beyond. 


Saudi Arabia, UK to strengthen cooperation in tourism sector

Updated 15 May 2024
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Saudi Arabia, UK to strengthen cooperation in tourism sector

RIYADH: The Saudi Tourism Authority and VisitBritain, the UK’s national tourism agency, have signed a declaration of intent to develop and grow tourism.

The signing, at the GREAT Futures Conference, means the two kingdoms will collaborate and share expertise about domestic and international tourism. 

VisitBritain has predicted there will be 240,000 visitors to the UK from Saudi Arabia this year, up 9 percent from 2019. It also predicted that travelers will spend £752 million ($65.56 million) during their trips, up 20 percent since 2019. 

UK Secretary of State for Culture, Media and Sport Lucy Frazer told Arab News: “Today we’ve signed an MoU … because we want to encourage and learn about ‘how do we encourage more Saudis to come to the UK’, ’how do we get more members of Great Britain to come over to Saudi Arabia.

“We’ve always had a very strong relationship, but that relationship is getting closer as Saudi Arabia undergoes this huge societal and economic change.”

She added: “It’s so dynamic and it’s got so many ambitions for the future. And in the UK, we would like to be a strong partner in that. So we’re collaborating in a number of areas sharing knowledge, sharing expertise, sharing best practice.” 

Attending the signing on the first day of the event were Saudi Tourism Minister Ahmed Al-Khateeb, Vice Minister of Tourism Princess Haifa Al-Saud, and Saudi Tourism Authority CEO Fahd Hamidaddin. 

Alongside Lucy Frazer from the UK were VisitBritain’s chairman, Nick de Bois, and the organization’s CEO, Patricia Yates. 

During her interview with Arab News, the UK secretary of state also discussed a heritage agreement that Historic England was looking to sign with its equivalent organization in Saudi Arabia. This would pave the way for joint training and sharing of expertise around the restoration of palaces and historic buildings.

Frazer also said she was excited to experience her first visit to Saudi Arabia.

“I had a number of meetings with my counterparts, whether that’s the ministers in culture, in sport, or tourism, and I think there are huge opportunities for us to work together. I see a lot of shared values and I’m very much looking forward to working to grow our economies, and to make sure that we can work together well across the board,” she said.

During his opening remarks at the event,  Al-Khateeb said Saudi Arabia and the UK were bound by a deep historical partnership.

He said Saudi Arabia had welcomed more than 165,600 British tourists and issued over 560,462 e-visas for British visitors since 2019.

The minister underlined that GREAT Futures represented an important forum for exchanging qualitative expertise and learning. He added that the conference also served as an opportunity for British companies to participate in the transformation achieved by Saudi Arabia’s Vision 20230. 

The two-day conference, hosted at King Abdullah Financial District, featured 47 sessions and workshops with 127 speakers. It aimed to strengthen Saudi-UK partnerships in 13 sectors including tourism, culture, education, health, sports, investment, trade, and financial services.

The event welcomed 450 British delegates and company heads who held meetings with members of the Saudi community and officials.