RIYADH: The ninth Future Investment Initiative marks a “turning point” in global innovation focus with technology leaders set to make up over half of speakers at the event in the Saudi capital.
In an interview with CNBC, Richard Attias, chairman of the FII Institute’s executive committee, said this year’s conference represents a major shift as a range of sectors seek to get to grips with the impact of artificial intelligence.
Launched in 2017, the Future Investment Initiative — often referred to as “Davos in the Desert” — has become a key platform for Saudi Arabia to showcase its economic diversification strategy under Vision 2030.
This year’s event, running from Oct. 27 to 30, brings together global policymakers, investors, and corporate leaders to discuss trends shaping the world economy and explore partnerships across emerging industries.
“FII9 is a turning point,” Attias told CNBC, adding: “This year, 52 percent of our speakers are coming from the tech industry. It is showing you the importance, of course, of AI, but not only AI, innovation in general, because all sectors in all industries are impacted by technology now.”
Attias highlighted three defining factors for this year’s edition: the dominance of technology, the presence of more than 20 world leaders and 50 ministers representing 90 countries, and the event’s growing reputation as one of the most inclusive platforms for international collaboration.
“This will be a fantastic platform for public private partnership,” Attias added, emphasizing that such collaboration is “probably one of the solutions of all the major issues that the global economy is facing.”
Attias called FII “probably the most inclusive platform in the world,” noting the presence of delegates from rival nations such as Russia and Ukraine, along with the US, China, and strong participation from the Global South and young entrepreneurs.
“Riyadh is becoming the economic capital of the world, at least for the week,” Attias said, noting that FII has expanded from a three-day conference into a full week of events, with attendees arriving prior to the event and to capitalize on the opportunities within the Kingdom.
The scale of activity, he admitted, is a “good problem to have,” but requires a “navigator” to manage the countless meetings and sectors on display.
He pointed to Saudi Arabia’s Vision 2030, stating it is no longer a future plan but a reality “in motion,” encompassing sectors from sport and entertainment to food security, tourism, energy, and infrastructure.
Attias stressed that FII has moved beyond symbolic memorandums of understanding. “Real deals are happening. Very concrete deals are signed,” he added in the interview.
He linked this spirit of optimism and action to the institute’s resilience, recalling that FII was among the few major conferences held during the COVID-19 pandemic in 2020. This mindset, he said, reflects the FII Institute’s mission of creating an “impact on humanity.”
This year’s event has attracted 9,000 delegates from nearly 100 countries, including participation from all Gulf Cooperation Council sovereign wealth funds. Attias said that by bringing together these funds with private equity firms, banks, financial institutions, and global CEOs, FII has created the “perfect equation” for driving global investment and collaboration.
