Many countries are competing to be the leader of artificial intelligence application, including Saudi Arabia. This technology has been implemented in many applications across various industries and sectors. Even though China and the USA are expected to hold 70 percent share of the AI world economic impact in 2030, Saudi Arabia and other countries in region remain undeterred. They are more than ready to participate in the competition.
The evidence is the growing demand for Saudi Arabia AI market recently. According to a prominent market research firm, GMI Research, Saudi Arabia AI market size will see substantial growth in the years ahead. This rapid development is owing to the rising implementation of enhanced technologies in various industries including healthcare, manufacturing, among others. In addition, the government’s initiatives for economic diversification can further propel the growth of the market.
AI will have an economic impact in the Middle East, with Saudi Arabia poised to capture almost half of the total. In addition, the government projects that fulfill 66 targets under its 2030 vision have close relations to the advancement and adoption of AI applications. The central aim of this vision is to steer the country towards an economy that is sustainable and diversified which ultimately enhances the welfare and prospects of its people.
How AI Helps in Achieving the Country’s Goals
Let’s look further into specific goals and discuss how AI plays a pivotal role in reaching them.
- Economic diversification
The country aims to decrease its reliance on oil exports and usage as its primary economic driver. A key strategy in this direction involves Saudi Arabia’s ambition to become a global center for AI, with plans to secure billions in investments from both local and international investors, supporting the growth of AI-driven businesses and startups.
- Increased job opportunities
Saudi Arabia aims to protect its workforce from potential AI impacts by investing in the growth of tech-savvy professionals. The country has begun the process of educating and cultivating a group of 20 thousand specialists in AI and data by 2030.
- Enhanced education
The kingdom is supporting local talent through AI hackathons and competitions, urging students and researchers to tackle AI challenges for hands-on learning.
- Private sector development
Saudi Arabia’s initiation of the national strategy for AI and data aims to achieve a 31.3% average growth per year in the technology’s contribution by region from 2018 to 2030, as indicated by the PwC report.
In addition to Saudi Arabia AI market expansion, the country’s vision encompasses enhancing technological infrastructure, bolstering healthcare and social protection, improving life quality, while empowering women within the workforce.
Furthermore, Saudi Arabia is leveraging AI-driven solutions to turn Riyadh to become a smart city while aiming to improve public services, infrastructure, and urban planning. Some initiatives include AI-driven public safety efforts which harness real-time information to optimize the times for emergency response and ensure the safety of citizens. Various sectors in the country also incorporate this technology including healthcare industry by maximizing flow of the patient, ensuring timely availability of medical care, as well as decreasing waiting times.
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