Global digital body DCO pledges during Riyadh summit to promote social prosperity using AI

Secretary General of DCO Deemah Al-Yahya spoke during during the Global AI Summit in Riyadh. (Supplied)
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Updated 14 September 2022
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Global digital body DCO pledges during Riyadh summit to promote social prosperity using AI

RIYADH: The Digital Cooperation Organization agreed to adopt the “Riyadh AI Call for Action Declaration” following a ministerial roundtable held during the Global AI Summit on Sept. 13.  

The declaration seeks to use AI technology to benefit people, communities, nations, and the world as a whole, a press release said.

The DCO is a global digital organization founded in 2020 by seven member states—Bahrain, Jordan, Kuwait, Nigeria, Oman, Pakistan, and Saudi Arabia — but has recently added Morocco, Djibouti, and Rwanda to its ranks

 The call to action aims to advance the DCO’s commitment to identify and address present, emerging and future humanitarian issues in the field of AI, the statement said.

“DCO was created with the ethos of establishing an inclusive digital economy through collaboration across diverse entities at all levels. The RAICA declaration is this idea put into practice,” Secretary General of DCO, Deemah Al-Yahya, said.

All members of DCO signed the declaration.

She added: “By signing this declaration, all DCO member states are reaffirming their shared desire to usher in a brighter future for all by harnessing the huge potential of AI to improve the lives of people around the world.” 

The declaration consists of seven pillars, each comprised of principles that aim to address methods to ensure that the benefits of AI are enjoyed by all while harming none.

 

 

Seven Pillars of the RAICA 

  • Close the digital divide between AI and people of different genders, race, ethnicities and socio-economic statuses
  • Empower underprivileged communities with the aim of ending poverty and hunger
  • Promote digital development through innovative AI solutions and financially support national AI start-ups 
  • Ensure fairness and non-discrimination through safeguards that prevent AI algorithms from discriminating against communities
  • Drive innovation in AI by encouraging individuals, organizations and nations to focus on innovation in harnessing AI for human benefit
  • Combat climate change by using AI to boost measures to conserve the environment,
  • Engage in international collaboration and cooperation in AI 

As the DCO has developed a series of action areas to help these pillars to be implemented, it said the member countries will push to provide all individuals with the resources they need.

The aim is to help individuals obtain AI literacy, work with organizations to identify how to employ AI to advance human rights, improve digital infrastructure, and adopt comprehensive AI ethical guidelines, the statement added.

Resources also aim to help them develop AI-supported initiatives to address global challenges, use AI to reduce human impact on the climate and set up a multilateral collaboration to accelerate AI accessibility across nations.


Silver crosses $77 mark while gold, platinum stretch record highs

Updated 27 December 2025
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Silver crosses $77 mark while gold, platinum stretch record highs

  • Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
  • Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years

Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation ‌as a US ‌critical mineral, and strong investment inflows.

Spot gold ‌was ⁠up ​1.2% at $4,531.41 ‌per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.

“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist ⁠at Zaner Metals.

Markets are anticipating two rate cuts in 2026, with the first likely ‌around mid-year amid speculation that US President Donald ‍Trump could name a dovish ‍Fed chair, reinforcing expectations for a more accommodative monetary stance.

The US ‍dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.

“$80 in ​silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next ⁠year,” Grant added.

Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

All precious ‌metals logged weekly gains, with platinum recording its strongest weekly rise on record.