Advanced Saudi Tech Products Are Highlighted at GITEX 2023

The Saudi Technology and Security Comprehensive Control (Tahakom) is highlighting its innovations, products, and solutions that rely on the AI system. (SPA)
The Saudi Technology and Security Comprehensive Control (Tahakom) is highlighting its innovations, products, and solutions that rely on the AI system. (SPA)
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Advanced Saudi Tech Products Are Highlighted at GITEX 2023

The Saudi Technology and Security Comprehensive Control (Tahakom) is highlighting its innovations, products, and solutions that rely on the AI system. (SPA)
The Saudi Technology and Security Comprehensive Control (Tahakom) is highlighting its innovations, products, and solutions that rely on the AI system. (SPA)

The Saudi government and private entities are showcasing their technical products and services at the GITEX Global 2023 exhibition, which is currently holding its 43rd edition at the Dubai World Trade Center between Oct. 16 and 20.

The event brings together more than 40 government and private entities in Dubai, with the participation of about 5,000 companies from various countries, focusing on the most important issues in artificial intelligence and blockchain, robotics, quantum computing, and cryptocurrencies.

Officials from the industrial and mineral resources sector are shedding light on the industrial and mining transformation in Saudi Arabia and opening channels of communication with global investors.

Through its participation at GITEX, the Saudi Ministry of Transport is reviewing its projects and initiatives to improve road quality, raise traffic safety levels, and automate bridge monitoring with the latest international technologies.

It is testing the direct monitoring system in cooperation with the Ministry of Interior and measures the weights and dimensions of trucks on the roads without traffic obstacles or human intervention to enhance monitoring efficiency.

The Saudi Export Development Authority is participating with around 33 national companies under the "Saudi Made" program that aims to raise the image and brand of the Kingdom's exports, boost their position in regional and global markets, identify international business opportunities, link exporters with potential buyers, and promote national products and services on major vital platforms that bring together investors.

The Export-Import Bank (EXIM) is known for its financing, credit services, and products that enable local banks and financial institutions to support Saudi exporters and foreign importers.

EXIM provides innovative solutions to support non-oil exports and enhance its presence in global markets.

It reviews the Kingdom's experience in the transition towards the digital economy and the state's efforts to support emerging sectors and entrepreneurs.

The efforts aim to adopt advanced technologies, launch technology-based projects that support the transformation, and meet the aspirations of Vision 2030 to build a prosperous economy and sustainable development.

At GITEX, the Zakat, Tax, and Customs Authority (ZATCA) is highlighting qualitative development in its technical services through various electronic platforms and its experience in developing smart systems, including its success in implementing the electronic invoicing system.

The Saudi Technology and Security Comprehensive Control (Tahakom) is also taking part in GITEX 2023.

Tahakom is highlighting its innovations, products, and solutions that rely on its own AI system in public safety and smart mobility. They include the Urban Eye system, smart parking, "Tahakom's Public Safety Solutions Car," mixed reality, and a drone product display.

It also introduces a crowd management system and solutions and several solutions developed by the AI system, including Tahakom's personal assistant, created by a supercomputer that efficiently supports dealing with complex tasks and processing massive data at high speed.

The Advanced Electronics Company, a wholly owned subsidiary of SAMI, is showcasing many of its products, most notably Smart Solutions zone, Smart City technologies, Smart Street Light, Smart Fire Detection, Waste Management, Video Analytics, and Asset Tracking.

The exhibit will further explore the company's futuristic managed services, cloud computing systems, digital healthcare modules, innovative technologies spanning various industries, and unparalleled manufacturing capabilities.

GITEX is one of the most important technical platforms that showcases the latest technological solutions in cloud computing, consumer technology, information centers, e-marketing, and highly advanced innovations in the world of information technology from various parts of the world.

More than 5,000 exhibitors representing more than 170 countries, and over 100,000 visitors are expected at the event.



Amazon's Plan to Tackle Temu, Shein? Sell More Toothpaste

(FILES) This picture taken on July 4, 2022 shows the logo of Amazon, a major online shopping company, displayed at Amazon Amagasaki Fulfillent Center in Amagasaki, Hyogo prefecture. (Photo by Kazuhiro NOGI / AFP)
(FILES) This picture taken on July 4, 2022 shows the logo of Amazon, a major online shopping company, displayed at Amazon Amagasaki Fulfillent Center in Amagasaki, Hyogo prefecture. (Photo by Kazuhiro NOGI / AFP)
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Amazon's Plan to Tackle Temu, Shein? Sell More Toothpaste

(FILES) This picture taken on July 4, 2022 shows the logo of Amazon, a major online shopping company, displayed at Amazon Amagasaki Fulfillent Center in Amagasaki, Hyogo prefecture. (Photo by Kazuhiro NOGI / AFP)
(FILES) This picture taken on July 4, 2022 shows the logo of Amazon, a major online shopping company, displayed at Amazon Amagasaki Fulfillent Center in Amagasaki, Hyogo prefecture. (Photo by Kazuhiro NOGI / AFP)

Amazon's push to offer more everyday essentials like toothpaste is hurting its average selling prices, but it is also a guard against rivals such as Temu and Shein that offer rock bottom prices on goods they ship from China.
People are shopping more frequently at Amazon, adding more low-priced items with each checkout, Amazon said on Thursday, after it reported third-quarter revenue and profit that beat Wall Street expectations.
The company's stock rose about 6% in premarket trading on Friday, Reuters reported.
The e-commerce giant has seen its market share erode in apparel as Shein and Temu quickly expanded in international markets with $12 dresses and $10 gadgets. But offering a variety of everyday products like dish detergent and floss is helping Amazon.
"The strength in everyday essentials revenue is a positive indicator that customers are turning to us for more of their daily needs," said Amazon's Chief Financial Officer Brian Olsavsky. "We see that when customers purchase these types of items from us, they build bigger baskets, shop more frequently and spend more on Amazon."
In August, Amazon CEO Andy Jassy said average selling prices were falling because customers were trading down to cheaper items and buying more essential goods, and that sales of bigger ticket items like computers and electronics were growing "more slowly" than in a robust economy.
John Belton, portfolio manager at Gabelli Funds which owns Amazon shares, said that he is expecting more pressure on Amazon's selling prices in the fourth quarter because of the company's mix of products.
LOCAL WAREHOUSE STRONGHOLD
To offset the impact of lower average selling prices, Amazon is relying on its deep network of local warehouses that allows it to ship quickly.
It's "pretty easy to choose to supply" lower average selling price (ASP) merchandise, but much harder to be able to afford to supply them, Jassy said on Thursday.
"One of the reasons that we have been so maniacal about cost-to-serve over the last few years is that as we're able to take our cost-to-serve down, it just opens up the aperture for more items, particularly lower ASP items that we're able to supply in an economic way," he said.
Shein is trying to ramp up selling everyday products too.
Earlier this year, it began courting skincare and personal care brands such as Colgate-Palmolive to sell more household names on the platform. It launched a third party marketplace in 2023 to expand its product selection to include beauty and personal care products, household items and furniture.
But companies such as Shein would be less successful in expanding to day-to-day products, said Gil Luria, head of technology research at D.A. Davidson.
Shein and Temu have specialized in offering dresses, accessories and gadgets "that the consumer is less time-sensitive about," he said.
"They're not in the US, so they can't get me toothpaste quickly," Luria said, adding that any market for shipping essentials from China is likely to be a small one.
Amazon is also facing competition from rivals at home.
Walmart, the world's biggest supermarket chain, and smaller retailer Target have both slashed prices on essentials in a race to the bottom as they each try to woo inflation-wary shoppers.
Walmart, scheduled to report third-quarter results on Nov. 19, is expected to post a 4% rise in revenue, according to analysts polled by LSEG, a slightly slower pace of growth than in the second quarter.
Amazon on Thursday reported a 7% improvement in retail sales in the third quarter. In the second quarter, its retail sales had risen 5%.
The operating margin for Amazon's international business jumped to 3.6% in the third quarter from 0.9% in the second quarter. Its North America margin ticked up to 5.9% from 5.6% in the previous quarter.