Saudi Oil Kingdom Aims to Become a Hub Leading AI Technology

Saudi Arabia, the world's largest oil producer, has expressed its ambition to transform into a hub leading the development of artificial intelligence (AI) technology.

[Image source=Yonhap News]

At the 8th Future Investment Initiative (FII), which concluded after a three-day schedule on the 31st (local time) in Riyadh, the capital of Saudi Arabia, the host country emphasized AI as a key topic.

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) led by Saudi's de facto ruler Crown Prince Mohammed bin Salman, participated as a panelist in the first discussion session and stated, "We are discussing investments in the AI sector," emphasizing that "Saudi Arabia can become not just a regional hub for AI but a global hub." Having announced a reduction in foreign investment proportions to focus more on domestic economic development, Saudi has effectively declared AI as its future growth engine.

Additionally, the surprise remote invitation of Elon Musk, CEO of Tesla, who was not scheduled on the first day, revealed how much Saudi is investing effort into AI. The organizers engaged in nearly 20 minutes of conversation with Musk, who appeared on a large screen, drawing out a bold prediction that AI-based humanoid robots will be distributed in numbers exceeding 10 billion units by around 2040.

Throughout the event, insights related to AI from prominent figures poured in.

Masayoshi Son (Son Jeong-ui), Chairman of SoftBank Group (SBG), predicted that "superintelligence (ASI) surpassing the human brain by 10,000 times will emerge by 2035." Jeffrey Sachs, a professor at Columbia University in the United States, emphasized the need for changes in the education system to prevent worsening income distribution, stating that "the idea that AI only has benefits is not correct."

Richard Attias, CEO of FII, reflected on this year’s forum achievements by saying, "We witnessed a new era where innovation and capital converge not only to foster industries but also to create a sustainable and inclusive future for all," adding, "A journey toward infinite possibilities and opportunities was discussed."

This content was produced with the assistance of AI translation services.