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.



Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
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Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil prices were up slightly on Friday on stronger-than-expected US economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer.

But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains.

Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. US West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel, Reuters reported.

In the second quarter, the US economy grew at a faster-than-expected annualised rate of 2.8% as consumers spent more and businesses increased investments, Commerce Department data showed. Economists polled by Reuters had predicted US gross domestic product would grow by 2.0% over the period.

At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand.

Still, continued signs of trouble in parts of Asia limited oil price gains.

Core consumer prices in Japan's capital were up 2.2% in July from a year earlier, data showed on Friday, raising market expectations of an interest rate hike in the near term.

But an index that strips away energy costs, seen as a better gauge of underlying price trends, rose at the slowest annual pace in nearly two years, suggesting that price hikes are moderating due to soft consumption.

China, the world's biggest crude importer, surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy.