Saudi Arabia shifts investment focus from resources to talent, says Al-Falih

Minister of Investment Khalid Al-Falih said the Kingdom is entering a new phase where talent, rather than natural resources, is becoming the main driver of investment.
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Updated 13 April 2025
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Saudi Arabia shifts investment focus from resources to talent, says Al-Falih

RIYADH: Saudi Arabia is positioning itself as a global investment hub, not only due to its oil wealth or market size, but increasingly because of its expanding base of skilled human capital.

Speaking at the Human Capability Initiative in Riyadh, Minister of Investment Khalid Al-Falih said the Kingdom is entering a new phase where talent, rather than natural resources, is becoming the main driver of investment.

“The magnet for efficiency-seeking investment is talent,” Al-Falih said, highlighting a strategic shift toward capability-led growth.

He emphasized that investment and education must evolve in tandem, forming a mutually reinforcing cycle.

“Investments create a demand pull on skills development, which influences how universities, vocational schools, and individuals respond to market signals,” he explained. “That, in turn, builds a talent pool that becomes a magnet for further investment.”

The remarks reflect Saudi Arabia’s broader efforts to diversify its economy and build a knowledge-based future in line with Vision 2030.

According to Al-Falih, the Kingdom is already seeing results from this approach.

“If you see what we’ve done over the last 10 years in investment, our FDI has quadrupled in terms of flows, and our FDI stock has nearly doubled,” he said.

As a result, employment in foreign investment-backed companies has risen by 40 percent, and the number of Saudi nationals employed by these firms has doubled. Meanwhile, the number of investor licenses issued has increased nearly tenfold. The presence of regional headquarters has also surged—from just five prior to the launch of Vision 2030 to more than 600 today.

These figures, Al-Falih said, reflect growing global confidence in Saudi Arabia’s business environment and the evolution of its labor market.

Looking ahead, he predicted a significant shift in how the Kingdom is viewed by international investors.

“We have moved from a place where people looked at the Kingdom as a source for natural resources, to a place where they invest because of market, capital—and increasingly—talent,” he said.

With continued global partnerships and sustained investment in human capital, Al-Falih expressed confidence in the Kingdom’s future: “I predict that in the next decade, Saudi Arabia will be the destination for investment—a hub of local and international talent within an ecosystem that promotes continuous learning and future readiness.”

He also identified human skill development as a central pillar of the Kingdom’s national investment strategy, reinforcing its long-term vision of economic transformation.

“We see human skill development—from education to executive programs to vocational school—as one of our most important investment verticals,” he said.

Al-Falih pointed to Saudi Arabia’s growing ability to attract international academic institutions as evidence of this strategy, citing the newly announced investment license obtained by the University of New Haven as an example of targeted, strategic investment in education.

Beyond formal education, he called for a system that supports lifelong learning and personal growth.

“The half-life of the knowledge you learn from school is getting shorter and shorter,” he noted, stressing the importance of experiential learning and stronger collaboration with the private sector. He referenced global workforce development efforts such as IBM’s training initiatives as potential models.

Al-Falih also emphasized the importance of character-building and resilience in workforce development.

“Building the character of the individual is something that we as parents need to do from birth,” he said. “We need to follow it through the school, so making sure that teachers are able to build that human character and that resilience.”

He added that as modern careers continue to evolve, mobility across industries, organizations, and borders is becoming the norm.

“People are mobile across disciplines, but they’re also mobile across organizations, and they’re mobile across countries,” he said.

The HCI 2025 was launched on Sunday in Riyadh, bringing together more than 300 global leaders, policymakers, and experts from 120 countries to discuss the future of skills and human capability development.

Held under the patronage of Crown Prince Mohammed bin Salman, the event is organized by the Human Capability Development Program in partnership with the Ministry of Education. Under the theme “Beyond Readiness,” the second edition of HCI features over 100 panel discussions, a ministerial roundtable with 20 international ministers, and a series of strategic initiatives. It also marks the launch of Human Capability and Learning Week, running through April 16.


AI’s shift toward proactive healthcare

Updated 05 February 2026
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AI’s shift toward proactive healthcare

  • Experts reveal how AI is reducing burnout and streamlining workflows

JEDDAH: Artificial intelligence is increasingly moving from the margins of healthcare innovation into its operational core. Rather than replacing clinicians, AI is being deployed to address persistent challenges across health systems, from administrative overload and staff burnout to fragmented data and inefficient patient flow.

Speaking to Arab News, Abbes Seqqat, chief executive officer of Rain Stella Technologies, and Eric Turkington, chief product officer, discussed how AI is already transforming healthcare delivery — and why its impact is most meaningful when embedded directly into clinical workflows rather than treated as a standalone tool.

Seqqat describes AI’s role as accelerating a structural shift in healthcare delivery. “AI is accelerating the shift in healthcare from reactive to proactive care, because AI fundamentally helps detect, analyze and predict,” he said, noting that many health systems lack the resources to perform these tasks at scale.

Abbes Seqqat, chief executive officer of Rain Stella Technologies. (RST photo)

While AI use cases in healthcare are broad, Seqqat emphasized that the most effective applications today focus on operational and clinical fundamentals, including reducing administrative burden, identifying patient risks earlier, and capturing clinical data more reliably and in real time.

RST’s portfolio reflects this approach, spanning surgical data capture and workflow automation, cloud-based electronic medical records, and health information exchange. Across these systems, the common goal is improving data quality and usability so clinicians can spend less time managing information and more time delivering care.

According to Turkington, RST’s systems rely on a mix of established and emerging AI technologies.

RST's Equinox offers a streamlined workflow, minimizing redundant data entry, and also allows for seamless integration with other systems. (RST images)

“Across the portfolio, we are using a wide range of AI and predictive technologies, from voice technology to reliably capture clinician inputs, to large language models that analyze and act on collected data,” he said.

A key focus has been adapting AI to regional and clinical realities. Voice models, for example, have been trained on UAE and GCC accents and grounded in medical terminology to improve accuracy in real-world settings. RST also uses retrieval-augmented generation and multi-agent AI architectures, allowing different AI components to perform specialized tasks such as classifying surgical notes, identifying unusual events, or assisting with billing and coding, Turkington explained.

DID YOU KNOW?

• AI can detect, analyze, and predict patient risks faster than traditional methods.

• Systems like Equinox use voice input and predictive analytics to actively support clinical decisions.

• AI assistants provide real-time updates, automate documentation, and improve coordination in operating theaters.

One of the central concerns around AI adoption is whether it adds complexity to already demanding clinical roles. Seqqat argues the opposite should be the goal.
“For nurses and frontline staff, AI’s greatest contribution is removing the invisible administrative friction that leads to burnout,” Seqqat said.

In operating theaters, AI systems can replace manual coordination methods such as phone calls and whiteboards by providing real-time situational awareness. By automating updates, anticipating delays, and serving as an on-demand clinical notepad, AI reduces cognitive load and allows staff to remain focused on patient care, he explained.

RST’s voice-enabled assistant, Orva, is designed specifically for perioperative environments.

Orva captures live updates through voice input, enabling it to surface delays, flag bottlenecks, and prompt coordination between departments. (RST photo)

Turkington said it enables hands-free documentation and coordination, helping surgical teams manage schedules and resources more effectively.

By capturing live updates through voice input, Orva can surface delays, flag bottlenecks, and prompt coordination between departments. It also assists with documentation and coding, reducing errors and supporting more accurate reimbursement— an area where incomplete records often create downstream challenges.

Electronic medical records remain central to healthcare delivery, but Turkington noted that AI can move them beyond passive data repositories.

Eric Turkington, chief product officer of Rain Stella Technologies. (RST photo)

“We designed Equinox as an EMR that enables you to spend less time with the software and more time with patients,” Turkington said.

Through voice input, automated documentation from visual annotations, and AI-generated pre-visit summaries, the system can actively support clinicians rather than slow them down. Predictive analytics, such as identifying no-show risks or highlighting care gaps, further shift EMRs toward decision-support tools rather than administrative obligations.

Both executives stressed that AI’s effectiveness depends heavily on data access and quality. Seqqat pointed to interoperability as a prerequisite rather than an afterthought.
“AI is only as powerful as the data it can access,” he said, adding that fragmented records limit both clinical insight and system-wide learning.

Health information exchanges, such as RST’s Constellation platform, enable patient data to be viewed longitudinally across providers. AI can then assist with patient identity matching and population-level analysis, allowing trends and risks to be identified across large datasets.

Turkington shared an example from an operating theatre where AI helped prevent cascading delays. When a surgical case ran late, a nurse verbally updated Orva that the patient was ready to exit. The system alerted the recovery unit, analyzed schedule conflicts, and prompted management to reassign staff before delays affected subsequent procedures.

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By tagging the cause of the delay and feeding that data into predictive models, the system helped prevent similar issues in the future — without additional manual coordination.

According to Seqqat, the primary returns from AI adoption come from combining efficiency with financial accuracy. Streamlined workflows allow providers to treat more patients without compromising care, while improved documentation reduces revenue leakage.

Looking ahead, Seqqat sees AI becoming central to Saudi Arabia’s healthcare transformation. He described its role as advancing smart hospitals, predictive patient flow, and precision medicine aligned with Vision 2030 goals.
“The role of AI in Saudi Arabia’s healthcare sector is evolving from a supporting technology to a foundational pillar of the Kingdom’s Vision 2030 transformation. Over the next few years, we expect to see AI move into the realm of smart hospitals, where predictive analytics optimize patient flow and AI-driven precision medicine leverages the Saudi Genome Program to provide hyper-personalized care. By unifying national health data and automating complex administrative workflows, AI will enable a more proactive, value-based healthcare model that improves patient outcomes and operational efficiency across the country.”