RIYADH: Microsoft and IBM were among several leading tech companies to hold talks over expanding their operations in Saudi Arabia in artificial intelligence, innovation, and the digital economy.
The Kingdom’s Minister of Communications and Information Technology Abdullah Al-Swaha and his deputy, Haytham Al-Ohali, met with the CEOs of the firms, as well those from Amazon, Alibaba Group, and NAXGRP, according to the Saudi Press Agency.
The discussions were held on the sidelines of the World Economic Forum in Davos, Switzerland, and align with the region’s ambition to become a global technological innovation hub.
During the ministers meeting with Microsoft’s CEO Satya Nadella, the two discussed promoting investment opportunities in the fields of generative AI, cloud computing, and stimulating entrepreneurship.
They also delved into discussions seeking to foster the development of national talent capabilities.
The official also held talks with IBM CEO Arvind Krishna in order to recap joint projects and progress made in several generative AI projects, big data and digital capabilities development.
Talks also touched on research and innovation in deep tech.
In his conversation with Amazon head Adam Selipsky, the minister discussed a potential partnership to support the growth of the digital economy in the region.
They further explored means to accelerate innovative business models and applications of generative AI.
Meanwhile, Al-Ohali met with Alibaba Group CEO Michael Evans to discuss progress in developing national talent and stimulating investment by strengthening the partnership in cloud computing and e-commerce solutions.
Al-Ohali also met with NAX Group CEO Jeff Schumacher to discuss opportunities for digital entrepreneurial companies and enhance prospects for innovation in the digital economy.
These meetings come within the framework of the minister’s remarks to SPA on Jan. 15, where he noted that Saudi Arabia hopes to foster dialogue on how “to build a prosperous digital future for all” through investment in technical and AI-related economies.
The official said the Kingdom’s technology market is valued at more than $43 billion.
Davos also witnessed Saudi Arabia’s minister of finance meeting with a number of top banking executives and government officials to discuss opportunities for investment in the Kingdom and the strengthening of bilateral cooperation.
Mohammed Al-Jadaan held meetings with the CEOs of Standard Chartered Bank, First Abu Dhabi Bank, and UBS Group, as well as Citigroup’s vice chairman, to discuss global and regional developments as well as opportunities for investment in the Kingdom.
He also met with the finance ministers of South Africa and Indonesia, with talks covering economic topics, including ways to strengthen bilateral cooperation between the Kingdom and the respective nations.
