Riyadh: A Global Destination for AI Events

During the announcement of Artathon winners at the AI Global Summit (SPA)
During the announcement of Artathon winners at the AI Global Summit (SPA)
TT
20

Riyadh: A Global Destination for AI Events

During the announcement of Artathon winners at the AI Global Summit (SPA)
During the announcement of Artathon winners at the AI Global Summit (SPA)

The first global artificial intelligence (AI) summit, held under the patronage of Saudi Crown Prince Mohammed bin Salman, concluded Thursday, with the aim of creating a global destination for AI activities in Riyadh.

The summit called for an international framework to support international cooperation in the field of data technology and artificial intelligence.

The two-day summit held under the slogan: "AI for the Good of Humanity,” was organized by the Saudi Data and Artificial Intelligence Authority (SDAIA).

It included 30 sessions, with nearly 60 speakers, including ministers, leaders of global entities, academics, investors, and entrepreneurs from 20 countries.

President of SDAIA, Abdullah al-Ghamdi, delivered a speech on behalf of Prince Mohammed, in which he described 2020 as an exceptional year to test the potential of AI at a time when a new global status is being formed, redefining lifestyles, business, and learning.

The summit aimed to adopt Riyadh as a global destination for AI activities, where the summit will be held annually to discuss the reality, future, and issues of AI and shed light on the latest research and technologies in this field.

The summit discussed the role of AI in life and the future, and means of transition to the new era characterized by rapid change.


The AI Summit is held within the framework of the Kingdom’s endeavor to achieve its aspirations for global leadership through data and AI-based economy.

It also asserts the importance of international cooperation in order to use AI for the good of humanity, highlighting SDAIA's role in the strategic leadership of the alternative economy, in cooperation with many relevant authorities to achieve Vision 2030.

On the first day of the summit, Saudi Arabia launched the National Strategy for Data and Artificial Intelligence (NSDAI) with a vision to make the best of data and AI a tangible reality.

The strategy aims to play a pivotal role in shaping the future of data and AI at the national and global levels.

Saudi Arabia signed three memorandums of understanding (MoU) with IBM, Alibaba, and Huawei at a summit in the kingdom.

The Kingdom also signed an MoU with the International Telecommunication Union (ITU) to develop a global framework that supports international cooperation in the AI field.

Saudi Arabia, represented by SDAIA, worked with the World Bank on a joint initiative, as part of the Kingdom's endeavor to enhance, develop, and accelerate AI technologies and digital economy in developing countries.

In addition, it hosted an advisory session in cooperation with the UN, to establish a body on global cooperation to address issues around integration, coordination, and building capabilities.

At the end of the summit, winners of the NEOM and Artathon challenges were announced and received prizes worth over $266,000. The awards were delivered by Minister of Education, Hamad bin Mohammed Al al-Sheikh, and NEOM CEO Nadhmi al-Nasr.



Oil Prices Jump More than 5% after Israel Strikes Iran

An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
TT
20

Oil Prices Jump More than 5% after Israel Strikes Iran

An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo

Oil prices jumped more than 5% on Friday to hit the highest in more than two months after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that could disrupt oil supplies.

Brent crude futures rose $3.91, or 5.64%, to $73.27 a barrel by 0146 GMT, the highest since April 3. US West Texas Intermediate crude was up $4.09, or 6.01%, at $72.13 a barrel, Reuters reported.

Israel said early on Friday that it struck Iran, and Iranian media said explosions were heard in Tehran as tensions mounted over US efforts to win Iran's agreement to halt production of material for an atomic bomb.

"The Israeli attack on Iran has heightened the risk premium further," MST Marquee senior energy analyst Saul Kavonic said.

"The conflict would need to escalate to the point of Iranian retaliation on oil infrastructure in the region before oil supply is actually materially impacted," he said, adding that Iran could hinder up to 20 million barrels per day of oil supply via attacks on infrastructure or limiting passage through the Strait of Hormuz in an extreme scenario.