AI helping to predict and solve supply chain issues: Saudi logistic program CEO

Short Url
Updated 16 September 2022
Follow

AI helping to predict and solve supply chain issues: Saudi logistic program CEO

RIYADH: Advancements in artificial intelligence will help predict and combat supply chain challenges as the Kingdom strives to become a global logistics hub, according to the CEO of the National Industrial Development and Logistics Program. 

Speaking at the second Global AI Summit in Riyadh on Sept. 15, Suliman Al-Mazroua said AI will also help Saudi Arabia integrate the energy, mining, industry and logistics sectors. He added: “AI aims to make smart factories more productive. It will help smart grids become more reliable and smart ports more efficient.”

He added, “With AI, we can integrate these four sectors, and we can predict the challenges in the supply chain.”

Almazroua said the goal is to improve people’s lives, and technology is a tool to achieve that. He further added that humans should embrace advanced technologies in a sustainable way so as not to negatively affect the environment. 

During the event, Badr Al-Bader, CEO of the Misk Foundation, talked about the vitality of using AI carefully to avoid pitfalls associated with advanced technologies. 

“AI has reached a very advanced stage. We are living in a hyper-reality world promoted by social media, and that is fueled by AI. All the photo filters, the fake videos, the deep fakes, and the alteration of voice are making realities that are not realities,” said Al-Bader.

He added: “Our responsibility is that we should promote the use of AI. However, we should also safeguard our people from the pitfalls that could be embedded in the systems we use.”


No Saudi acquisition offers: FC Barcelona tells Al-Eqtisadiah

Updated 16 December 2025
Follow

No Saudi acquisition offers: FC Barcelona tells Al-Eqtisadiah

CAIRO: FC Barcelona has not received any offers, whether from Saudi Arabia or elsewhere, to acquire the club, according to an official source who spoke to Al-Eqtisadiah.

According to the source, the circulating news regarding the possibility of finalizing a deal to acquire the club in the coming period is a mere rumor.

Recent Spanish reports had indicated the possibility of a Saudi acquisition of Barcelona shares for around €10 billion ($11.7 billion), a move considered capable of saving the club from its financial crises if it were to happen, especially as it suffers from debts estimated at around €2.5 billion.

Sale not in management’s hands

Joan Gaspart, the former president of the club, confirmed that the current board of directors, chaired by Joan Laporta, does not have the right to dispose of the club’s ownership.

He added: “FC Barcelona is owned by about 150,000 members, and selling the club is something the owners will not accept. FC Barcelona possesses something no other club in the world has; money is very important, and so is passion, but the sentiment of the members today is to continue what the club has been for 125 years.”

High market value

Despite the financial crisis the club has been going through in recent years, FC Barcelona ranks sixth on the list of the world’s highest market value clubs, with an estimated value of €1.12 billion, according to Transfermarkt. Meanwhile, its rival Real Madrid tops the list with a market value of €1.38 billion.