GAIN Summit in Riyadh to Showcase Global Experiences on AI Use in Supporting Business Leaders

GAIN Summit in Riyadh to Showcase Global Experiences on AI Use in Supporting Business Leaders
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GAIN Summit in Riyadh to Showcase Global Experiences on AI Use in Supporting Business Leaders

GAIN Summit in Riyadh to Showcase Global Experiences on AI Use in Supporting Business Leaders

The third edition of the Global AI (GAIN) Summit, organized by the Saudi Data and AI Authority (SDAIA) will be held in Riyadh on September 10-12.

The summit will showcase the global experiences in the field of artificial intelligence technologies, including those that focus on the importance of business leaders' understanding of rapidly developing AI technologies, and reflecting on how to increase production driven by strategic decision-making.

The deliberations of over 300 speakers, including experts, specialists, and decision-makers from 100 countries will present business leaders and those interested in the field of data and AI with promising options and opportunities to benefit from the technologies.

The speakers will deliberate on the most effective methods of utilizing AI to make strategic decisions, support responsible leadership, analyze the extent of the impact of AI on the growth of business activities and productivity, and motivate employees within an attractive work environment that meets the aspirations of business leaders.

The summit will underscore the importance of senior leaders and policymakers in making strategic decisions, determining the scope and directions of work, and achieving a competitive advantage for business. These decisions are guided by organizational policies, available resources, future plans, and other decisions based on AI.

According to a study by PricewaterhouseCoopers, productivity growth and improvement of manufacturing processes were five times faster when AI was used to adjust processes, identify shortcomings, and reduce waste and errors.

Predictive maintenance can also reduce downtime and speed up the pace of production, allowing the plant to increase production with the same or fewer inputs.



Inflation Fell to 2.2% in Europe, Clearing Way for Central Bank Rate Cut

FILE - The European Central Bank is pictured next to containers in Frankfurt, Germany, on April 9, 2024. (AP Photo/Michael Probst, File)
FILE - The European Central Bank is pictured next to containers in Frankfurt, Germany, on April 9, 2024. (AP Photo/Michael Probst, File)
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Inflation Fell to 2.2% in Europe, Clearing Way for Central Bank Rate Cut

FILE - The European Central Bank is pictured next to containers in Frankfurt, Germany, on April 9, 2024. (AP Photo/Michael Probst, File)
FILE - The European Central Bank is pictured next to containers in Frankfurt, Germany, on April 9, 2024. (AP Photo/Michael Probst, File)

Inflation in the 20 European Union countries that use the euro fell sharply to 2.2% in August, opening the door for the European Central Bank to cut interest rates as the ECB and the US Federal Reserve prepare to lower borrowing costs to support growth and jobs.
The August figure was down from 2.6% in July, according to figures Friday from European Union statistics agency Eurostat. Energy prices fell in August by 3%, helping lower the overall figure, while inflation fell to 2% in Germany, the eurozone’s largest economy.
The monthly figure is now close to the ECB’s target of 2%, the level considered best for the economy, The Associated Press reported. The central bank is charged with maintaining stable prices under the treaty that set up the European Union. Not all of the EU’s 27 countries use the euro.
Economists expect the ECB to cut its key rate by a quarter point from 3.75% at its Sept. 12 meeting, while the Fed is expected to cut rates from a 23-year high of 5.25%-5.5% at its Sept. 17-18 policy meeting.