Drones, Technology Localization Top ‘AI’ Discussions in Riyadh

Saudi Arabia is hosting the International Exhibition and Conference for Artificial Intelligence and Cloud Computing from May 22 to 24. (Asharq Al-Awsat)
Saudi Arabia is hosting the International Exhibition and Conference for Artificial Intelligence and Cloud Computing from May 22 to 24. (Asharq Al-Awsat)
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Drones, Technology Localization Top ‘AI’ Discussions in Riyadh

Saudi Arabia is hosting the International Exhibition and Conference for Artificial Intelligence and Cloud Computing from May 22 to 24. (Asharq Al-Awsat)
Saudi Arabia is hosting the International Exhibition and Conference for Artificial Intelligence and Cloud Computing from May 22 to 24. (Asharq Al-Awsat)

Experts at the International Exhibition and Conference on Artificial Intelligence and Cloud Computing, held in Riyadh, discussed enhancing AI for the drone sector in smart cities and the possibility of localizing the technology in the Kingdom.

They also tackled mapping cloud digital transformation and the role of AI in the customer services industry, with the participation of several local, regional, and global companies.

Saudi Arabia aims to compete in global markets and against developed countries by enhancing sustainability, creating jobs, investing in entrepreneurship, attracting global investments in various fields, and incubating SMEs and large companies to support the Saudi economy, Prince Fahd bin Abdullah Al Saud, advisor to the Saudi Ministry of Interior, told Asharq Al-Awsat.

“The Kingdom seeks to fully digitize vital sectors and adopt technological transformation through plans based on providing technical solutions to improve performance, reduce costs and make all sectors in the Kingdom more efficient and smart,” Wafi bin Hammad Albalawi, vice president of the Saudi Electronic University, told Asharq Al-Awsat.

Albalawi pointed to a recent study conducted by the US-based company Accenture, which said that investment in artificial intelligence will increase the Saudi gross domestic product by 12.5 % and will inject more than $215 billion into the Saudi economy by 2035.

This can encourage the adoption of technology and innovation within Saudi SMEs, especially since the Kingdom enjoys the largest share in the digital industries market.

Saudi Arabia has continuously adopted digital transformation to serve its national transformation plan, dubbed Kingdom Vision 2030.

Maher Uday, a specialist in digital interaction systems at Avaya, which specializes in the customer services industry, stressed the acceleration of process automation in the field of customer service in general.

Uday predicted that, during the next two years, the automation of e-marketing will boom in various customer service fields.

This will affect a number of activities such as booking flights, ordering food from restaurants, booking a taxi, and purchasing other online products using AI.

Saudi Arabia is hosting the International Exhibition and Conference for Artificial Intelligence and Cloud Computing from May 22 to 24. The event features leaders and pioneers in the technology sectors, both in local, global government, and private institutions.

This conference is one of the most specialized and widely spread events globally and seeks to foster innovation and increase competitiveness.

It offers a platform for collaboration between AI leaders and investors to create a better future. The conference offers discussion panels and workshops that will address relevant topics such as artificial intelligence, data science, the internet, cybersecurity, big data, and more.

Saudi Arabia seeks to digitize many vital sectors and adopt technological transformation through steps based on digital solutions, to improve performance, reduce costs and raise efficiency, as well as create an attractive environment for investors and entrepreneurs.



Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.