Saudi Arabia signed an agreement with the World Economic Forum (WEF) on Wednesday to establish a branch in the Kingdom of the WEF’s Center for the Fourth Industrial Revolution.
The center, the fifth in the world, places Saudi Arabia in the global Fourth Industrial Revolution network with countries such as the US, India, China and Japan.
The deal was signed by Mohammed al-Tuwaijri, the Saudi Minister of Economy and Planning, and the WEF founder and executive chairman Klaus Schwab.
Several princes and high ranking Saudi officials witnessed the signing ceremony following their meeting with Schwab and other WEF officials. They included Minister of Foreign Affairs Prince Faisal Bin Farhan; Minister of Culture Prince Badr Bin Abdullah Bin Farhan; Minister of Finance Mohammed al-Jadaan.
The center will provide space for the development of the mechanisms, plans and applications of the FIR in the Kingdom and will contribute to the adoption of technology and best practices in the region and the world, which reinforces the directives of the leadership and harnesses the tools provided by the Fourth Industrial Revolution to serve the Kingdom
This cooperation will bring the Kingdom into the global FIR network with countries such as India, China and Japan. The center will also provide the opportunity to cooperate with various government agencies, international institutions and private companies, in line with the efforts to develop effective solutions to the challenges of vital sectors, alongside preparing competencies and capacity-building, and advanced skill development in the areas related to the FIR.
The Fourth Industrial Revolution is based on a number of areas, including artificial intelligence, machine learning, robots, smart cities, the governance and future shaping of technology and data policy, automated mobility, unmanned aerial vehicles (UAVs), and the future of airspace.