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.



China's Lending to Africa Rises for First Time in Seven Years

Water vapor rises from cooling towers of a China Energy ultra-low emission coal-fired power plant in Sanhe, Hebei province, China (Reuters / Shivani Singh)
Water vapor rises from cooling towers of a China Energy ultra-low emission coal-fired power plant in Sanhe, Hebei province, China (Reuters / Shivani Singh)
TT

China's Lending to Africa Rises for First Time in Seven Years

Water vapor rises from cooling towers of a China Energy ultra-low emission coal-fired power plant in Sanhe, Hebei province, China (Reuters / Shivani Singh)
Water vapor rises from cooling towers of a China Energy ultra-low emission coal-fired power plant in Sanhe, Hebei province, China (Reuters / Shivani Singh)

Chinese lenders approved loans worth $4.61 billion to Africa last year, marking the first annual increase since 2016, an independent study showed on Thursday.
Africa secured more than $10 billion in loans a year from China between 2012-2018, thanks to President Xi Jinping's Belt and Road Initiative (BRI), but the lending fell precipitously from the start of the COVID-19 pandemic in 2020.
Last year's figure, a more than three-fold increase from 2022, shows China is keen to curb risks associated with highly indebted economies, the study by Boston University's Global Development Policy Centre found.
The new data comes as Beijing prepares to host African leaders next week for the Forum on China-Africa Cooperation, which takes place every three years.
Last year's biggest items include a nearly $1 billion loan from China Development Bank to Nigeria for the Kaduna-to-Kano Railway and a similar size liquidity facility by the lender to Egypt's central bank.
China has vaulted to the top bilateral lender for many African nations like Ethiopia in recent years.
Nearly a tenth of 2023 loans were for three solar and hydropower energy projects, the study found, illustrating a desire by China to move into funding renewable energy instead of coal-fired power plants.
In a separate development, the Chinese government affirmed on Thursday that quarter of all the country’s energy consumption now comes from clean sources, as Beijing rapidly pivots its huge economy to a greener footing.
The country is the world's largest emitter of greenhouse gasses, though has in recent years emerged as a global leader in renewable energy.
A white paper published Thursday said the proportion of “clean energy” in total national consumption rose from 15.5% to 26.4% over the past decade, according to State news agency Xinhua.