The Saudi Company for Artificial Intelligence (SCAI), a company wholly owned by the Public Investment Fund (PIF), launched operations to grow and develop artificial intelligence (AI) and emerging technologies industries in the Kingdom.
The company’s operations will focus on delivering end-to-end cutting-edge AI solutions across various disciplines.
These will apply to a wide range of use cases for both businesses and consumers in prioritized sectors for the Kingdom such as energy and healthcare.
SCAI also aims to be the trusted AI provider for smart city practical solutions.
“As PIF’s arm in the AI and emerging technologies sector, the company will develop local capability, cutting edge technology, and strategic partnerships to support creating Saudi-owned solutions in the AI ecosystem,” said SCAI Chairman Dr. Abdullah bin Sharaf al-Ghamdi.
This comes in line with the Kingdom’s Vision 2030 objectives of diversifying and growing the economy and improving the quality of life for Saudi citizens, he added.
“SCAI will be a key enabler to promote the national AI objectives and accelerate technology adoption across various sectors in the Kingdom,” said Ayman Al-Rashid, CEO of SCAI.
“The world is embracing the era of data and information, and AI is rapidly changing the way we live.”
It is critical for Saudi Arabia to invest in the foundations of the sector to unlock long-term sustainable value for all stakeholders in the Kingdom and beyond, he stressed.
SCAI’s mandate comes in line with PIF’s strategy, which focuses on 13 priority sectors, including the technology sector.
Through its mandate, PIF is establishing national champions and enabling the development of new sectors in line with Vision 2030.