Saudi Arabia is aggressively funding the development of artificial intelligence, leveraging its considerable oil wealth to establish itself as a technological powerhouse in the rapidly evolving sector.
This initiative was highlighted at the recent Leap tech conference outside Riyadh, attended by over 200,000 people, including significant figures from major tech firms like Amazon and Google. The event showcased Saudi Arabia’s commitment to transforming its oil-based economy to one focused on technology, with AI at the forefront of this shift.
The kingdom has introduced a $100 billion fund dedicated to AI and tech advancements and is engaging with prominent investors such as Andreessen Horowitz to bolster its capabilities with an additional $40 billion.
These efforts are part of the broader “Vision 2030” agenda, spearheaded by Crown Prince Mohammed bin Salman, to diversify the Saudi economy and integrate modern tech industries such as tourism, culture, and sports alongside traditional oil operations.
This redirection aims not only at economic transformation but also at establishing Saudi Arabia as a critical player in global tech leadership, potentially shaping the future of AI on a global scale.
Saudi Arabia’s significant investments in AI are set against the backdrop of an intensifying technological competition between the US and China, with both nations vying to influence the AI domain.
This geopolitical aspect adds complexity to Saudi Arabia’s technological ambitions, as it navigates its role between these superpowers while aiming to attract global AI talent and build state-of-the-art facilities, such as the planned city of Neom.
