DUBAI: Artificial intelligence and machines will double the growth of economies around the world by 2035, according to Mohammad Abdullah Al Gergawi, the United Arab Emirates’ Minister of Cabinet Affairs and the Future.
Speaking at the World Economic Forum’s annual meeting of Global Future Councils in Dubai, Al Gergawi also told participants that the the so-called Internet of Things, through which objects from street-lights to cars communicate and share data, would contribute $10-15 trillion dollars to the global economy in the next 20 years.
While Al Gergawi said that the capacity of the global workforce will increase by 40% in the coming two decades as more jobs become mechanized, he stressed that it was necessary to discuss, plan and strategies how the sweeping technology would affect humanity.
“The future is a global and moral shared responsibility,” he said.
Robots will double world economic growth within two decades
Robots will double world economic growth within two decades
Saudi Mawani, Arabian Chemical Terminals sign $133m land lease for Jubail port storage tanks
RIYADH: The Saudi Ports Authority, or Mawani, has signed a contract with Arabian Chemical Terminals Ltd. to establish storage tanks for chemical and petrochemical materials at Jubail Commercial Port, with an investment exceeding SR500 million ($133 million) on an area of 49,000 sq. meters.
The project will help enhance operational efficiency and increase handling capacity, in line with the objectives of the National Transport and Logistics Strategy, which aims to consolidate the Kingdom’s position as a global logistics hub.
This step forms part of Mawani’s efforts to strengthen private-sector participation in supporting gross domestic product growth and to reinforce the role of Jubail Commercial Port as a key driver of commercial activity.
The project’s storage capacity will reach 70,000 cubic meters, boosting the competitiveness of the Kingdom’s ports at both regional and international levels.
It aims to develop and expand storage capacity and support the export of chemical and petrochemical materials in accordance with the highest international standards, while strengthening supply chains.
The project includes the establishment and development of specialized facilities for storing and exporting chemical and petrochemical products, as well as the provision of storage and distribution services for local and international imports and exports, in line with global quality and safety standards.
It will contribute to supporting national supply chains, enhancing the Kingdom’s chemical logistics capabilities, and raising operational efficiency and capacity, thereby improving customer competitiveness.
The initiative also supports the objectives of Saudi Vision 2030 by promoting infrastructure development across the energy, industry, and supply chain sectors.
