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.



Saudi Reserves Rise 6% to $452 Billion in July

Saudi Central Bank (SAMA) (Asharq Al-Awsat)
Saudi Central Bank (SAMA) (Asharq Al-Awsat)
TT

Saudi Reserves Rise 6% to $452 Billion in July

Saudi Central Bank (SAMA) (Asharq Al-Awsat)
Saudi Central Bank (SAMA) (Asharq Al-Awsat)

Saudi Central Bank (SAMA) reported that its total reserves increased by 6% year-on-year in July, reaching SAR1.697 trillion ($452 billion), up from SAR1.600 trillion ($426 billion) a year earlier.

However, reserves dropped by 3.2% from June’s SAR1.754 trillion ($467 billion), the highest level since November 2022.

SAMA’s monthly report showed a 7% rise in foreign financial investments, reaching SAR1.021 trillion ($272 billion) compared to SAR952.29 billion($253.7 billion) last year.

Meanwhile, the reserve position with the International Monetary Fund (IMF) fell by 8% from June 2023, totaling SAR13.2 billion ($3.5 billion).

Saudi reserves include foreign securities, foreign currency, foreign deposits, IMF reserve positions, special drawing rights, and cash gold.