“Al Jazeera” – Economy:
The importance of artificial intelligence in business sectors is growing rapidly. Intelligent machines drive every aspect of our daily lives to enhance human skills and capabilities. AI has also become so intrinsic to our work that it is hard to imagine our daily lives without it. This is due to the tremendous developments of the Fourth Industrial Revolution; This intelligence allowed machines to learn and make decisions similar to humans. This technology has exerted its influence on consumer products and led to major discoveries in healthcare, manufacturing, finance, retail and many different vital industries. At a time when the world is rushing to spread the effectiveness of artificial intelligence to achieve a competitive advantage that saves cost and time. AI is transforming industries from finance to manufacturing with new methods and capabilities.
From a social perspective, AI is not just about improving human life, it goes beyond that. Many technology companies are investing in artificial intelligence by developing healthcare systems. AI also contributes to defining protocols or regulating personalized medication with the aim of improving analytical tools, while robots help with operations. Moreover, AI has become a radical solution to the environmental problems humanity is facing due to global warming. Artificial intelligence could enhance human efforts to meet global challenges, including supporting smart infrastructure and efficiency in handling natural resources, and providing smart agriculture to feed the Earth’s growing population year after year.
The global artificial intelligence market revenue is expected to grow significantly until 2030, although various studies indicate a difference in the amount of increase in the global market size.
Market research firm IDC predicts that the artificial intelligence market will reach more than half a trillion dollars by 2024.
Statista stated that previous research predicts that the market will grow to more than $1.5 trillion by 2030. The interest in artificial intelligence technologies and their applications around the world is increasing the number of startups in this field; The total takeover of AI startups has steadily developed since 2010, growing nearly fourfold between 2015 and 2018. Surprising increases in takeovers of AI startups have been countered by funding support for these companies; Global financing alone increased by more than $1 billion in 2013 to $8.5 billion in the first quarter of 2020.
The Kingdom of Saudi Arabia particularly relies on artificial intelligence, while the Saudi Company for Artificial Intelligence (SCAI), a company owned by the Public Investment Fund (PIF), has launched operations to develop artificial intelligence (AI) to develop and develop is evidenced by the emergence of technologies in industries in the Kingdom of Saudi Arabia Saudi Arabia in strategic sectors, accelerating key national technology priorities.
Among the AI investments, stc, the region’s leading digital enabler, launched a long-term strategic partnership with the Saudi Company for Artificial Intelligence (SCAI) and DataRobot. The strategic agreement was signed with the aim of developing artificial intelligence capabilities in the Kingdom, empowering the next generation and creating technical talent.
The three companies will work closely together to increase the level of utilization of their resources, networks and ecosystems, and share the best solutions to advance the technology scene in the Kingdom. As part of the agreement, DataRobot, the leader in the AI cloud, will establish its regional headquarters in Saudi Arabia; An artificial intelligence development center and research center will also be established.
The launch of this partnership is the latest step taken by stc and SCAI to improve the infrastructure of artificial intelligence in the Kingdom. DataRobot affirms its commitment to make AI seamless by providing high-quality solutions to individuals and societies in the use of AI. It will also contribute to the strengthening of artificial intelligence services regionally and globally in the fields of green technology, oil and gas, and healthcare, and put the Kingdom on the global map of technological innovation.
stc’s strategic partnership with SCAI and DataRobot is very much in line with the goals of Vision 2030 and the “Dare” strategy. This partnership aims to improve and develop the local economy while maintaining the Kingdom’s sustainable growth and the development of human capital. SCAI and DataRobots join stc’s rich list of partners, including Ericsson, Huawei and Nokia, to be among the leading digital service providers in establishing three innovation centers for research and development in the Kingdom.
Aiming to enable the comprehensive digital ecosystem, stc previously launched its main digital center “MENA Hub” for the Middle East and North Africa with an investment of one billion US dollars, which is the leading position of the Kingdom of Saudi Arabia in the ICT ensured. sector and stc’s role as a leading player in the region, including promoting the economy of Kingdom and GDP. stc’s contribution was not only limited to the digital ecosystem, but also invested together with the Alibaba Group in the Alibaba Cloud Services in Riyadh – the Kingdom of Saudi Arabia with an initial capital of $238.3 million (894 million Saudi Riyal). And it has raised the level of IoT services as a technology-neutral service provider in the smart industrial manufacturing sector, the smart logistics transportation industry and smart cities, through the joint venture with the Saudi Sovereign Wealth Fund and the Public Investment Fund (PIF ) at a ratio of 50:50 to form a new company specializing in the Internet of Things (IoT).