Saudi Arabia ready to embrace AI era through global partnerships

Saudi Minister of Communications and Information Technology Abdullah bin Amer Al-Swaha speaks during a fireside chat at the Global Labor Market Conference in Riyadh. AN photo
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Updated 13 December 2023
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Saudi Arabia ready to embrace AI era through global partnerships

RIYADH: Saudi Arabia has committed to integrating artificial intelligence into all programs through partnerships with global platforms, according to the minister of communications and information technology.  

Speaking during a fireside chat at the Global Labor Market Conference in Riyadh, Abdullah bin Amer Al-Swaha highlighted that the Kingdom has partnered with platforms like Coursera for 250,000 seats to guarantee that the youth and future generations attain the essential skill sets. 

“On future skills, we have pledged an AI for all programs, out of which we have partnered with the likes of Coursera for 250,000 seats to make sure that our youth and the next generation have the necessary skill set to flourish in the generative AI era,” Al-Swaha said.  

The minister also commended Saudi Arabia’s leadership for demonstrating trust in the human capital development program and AI, both of which are considered fundamental at the national level. 

“It has to be lifelong learning and continuous learning and that’s the partnership today,” he said. 

Emphasizing the significance of leadership in the field of AI, the minister praised the substantial growth achieved in the past seven years, from a tech force of 150,000 to an impressive 354,000. 

“What’s more remarkable is the women empowerment story in tech. We’ve jumped from 7 percent to 35 percent.” 

Furthermore, the minister also discussed a global phenomenon characterized by a unique convergence of a tipping point and a turning point and the difference between the two. 

“A tipping point will be like the iPhone moment out of which we have changed the way we use communication forever,” he explained. 

On the other hand, a turning point involves a trajectory shift, as seen historically in transitions from steam engines to electricity and the internet. 

Al-Swaha then noted that the current era, marked by generative AI, represents both a tipping and turning point simultaneously. 

 


Saudi Arabia set to attract $500bn in private investment, Al-Falih tells conference

Updated 09 December 2025
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Saudi Arabia set to attract $500bn in private investment, Al-Falih tells conference

RIYADH: Sustainability, technology, and financial models were among the core topics discussed by financial leaders during the first day of the Momentum 2025 Development Finance Conference in Riyadh.

The three-day event features more than 100 speakers and over 20 exhibitors, with the central theme revolving around how development financial institutions can propel economic growth.

Speaking during a panel titled “The Sustainable Investment Opportunity,” Saudi Investment Minister Khalid Al-Falih elaborated on the significant investment progress made in the Kingdom.

“We estimate in the midterm of 2030 or maybe a couple of years more or so, about $1 trillion of infrastructure investment,” he said, adding: “We estimate, as a minimum, 40 percent of this infrastructure is going to be financed by the private sector, so we’re talking in the next few years $400 (billion) to $500 billion.”

The minister drew a correlation between the scale of investment needs and rising global energy demand, especially as artificial intelligence continues to evolve within data processing and digital infrastructure in global spheres.

“The world demand of energy is continuing to grow and is going to grow faster with the advent of the AI processing requirements (…) so our target of the electricity sector is 50 percent from renewables, and 50 percent from gas,” he added.

Al-Falih underscored the importance of AI as a key sector within Saudi Arabia’s development and investment strategy. He made note of the scale of capital expected to go into the sector in coming years, saying: “We have set a very aggressive, but we believe an achievable target, for AI, and we estimate in the short term about $30 billion immediately of investments.”

This emphasis on long-term investment and sustainability targets was echoed across panels at Momentum 2025, during which discussions on essential partnerships between public and private sectors were highlighted.

The shared ambition of translating the Kingdom’s goals into tangible outcomes was particularly essential within the banking sector, as it plays a central role in facilitating both projects and partnerships.

During the “Champions of Sectoral Transformation: Development Funds and Their Ecosystems” panel, Saudi National Bank CEO Tareq Al-Sadhan shed light on the importance of partnerships facilitated via financial institutions.

He explained how they help manage risk while supporting the Kingdom’s ambitions.

“We have different models that we are working on with development funds. We co-financed in certain projects where we see the risk is higher in terms of going alone as a bank to support a certain project,” the CEO said.

Al-Sadhan referred to the role of development funds as an enabler for banks to expand their participation and support for projects without assuming major risk.

“The role of the development fund definitely is to give more comfort to the banking sector to also extend the support … we don’t compete with each other; we always complement each other” he added.