Saudi Arabia to Establish World's First ‘Sustainability Center’ Using AI

The head of the Saudi Authority for Data and Artificial Intelligence during the announcement of the launch of the principles of ethics for AI on the sidelines of the Global AI Summit in Riyadh (Asharq Al-Awsat)
The head of the Saudi Authority for Data and Artificial Intelligence during the announcement of the launch of the principles of ethics for AI on the sidelines of the Global AI Summit in Riyadh (Asharq Al-Awsat)
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Saudi Arabia to Establish World's First ‘Sustainability Center’ Using AI

The head of the Saudi Authority for Data and Artificial Intelligence during the announcement of the launch of the principles of ethics for AI on the sidelines of the Global AI Summit in Riyadh (Asharq Al-Awsat)
The head of the Saudi Authority for Data and Artificial Intelligence during the announcement of the launch of the principles of ethics for AI on the sidelines of the Global AI Summit in Riyadh (Asharq Al-Awsat)

The Saudi Deputy Minister of Environment, Water and Agriculture Mansour bin Hilal Al-Mushaiti revealed that Google has reached an agreement with Saudi Arabia to help implement Artificial Intelligence (AI) sustainable solutions and cutting-edge technologies in the Kingdom.

The Saudi Authority for Data and Artificial Intelligence (SDAIA), in partnership with the global business, has established AI programs and initiatives for the Ministry of Environment, Water and Agriculture.

The agreement with Google covers three programs and 11 initiatives, according to Al-Mushaiti.

Al-Mushaiti stressed the importance of finding innovative solutions to help take advantage of the potential of untapped resources across the Kingdom.

This will support the implementation of the digital transformation strategy, environmental initiatives, and the ministry’s strategy to leverage AI in all sectors, including services and initiatives to achieve sustainable development goals in Saudi Arabia.

During the Global AI Summit in Riyadh, Al-Mushaiti touched upon the importance of AI in accelerating progress in a proactive manner to apply emerging and modern technologies, which in turn will enable the achievement of strategic goals that align with the national transformation plan, “Kingdom Vision 2030.”

“Artificial Intelligence will aid in accelerating multi-progress and achieving sustainability goals aligned with Vision 2030,” Al-Mushaiti said.

AI is also expected to contribute to the transformation into a digital society, economy, and nation.

“It is necessary to implement original solutions that will enable us to depart from the old legacy and implement state-of-the-art technologies and deploy artificial intelligence when, where, and how needed,” he added.

In other news, the Minister of Municipal and Rural Affairs and Housing Majid Bin Abdullah Al-Hogail, President of the Saudi Data & AI Authority (SDAIA) Dr. Abdullah Bin Sharaf Al-Ghamdi, and CEO of the Royal Commission for Riyadh City Fahd Bin Abdulmohsen Al-Rasheed inaugurated Wednesday the “Smartathon -The Smart Cities Challenge.”

The challenge aims to develop emerging solutions to improve the urban landscape in the cities of the Kingdom of Saudi Arabia, and to come up with technical solutions that contribute to detecting and reducing visual distortions, and benefiting from the Saudi and international experiences to find solutions using data and artificial intelligence.



Tel Aviv Shares Hit Record Highs after US Strikes Iran Nuclear Sites

A Tel Aviv Stock Exchange sign is seen at the bourse in Tel Aviv, Israel November 4, 2020. REUTERS/Amir Cohen/File Photo
A Tel Aviv Stock Exchange sign is seen at the bourse in Tel Aviv, Israel November 4, 2020. REUTERS/Amir Cohen/File Photo
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Tel Aviv Shares Hit Record Highs after US Strikes Iran Nuclear Sites

A Tel Aviv Stock Exchange sign is seen at the bourse in Tel Aviv, Israel November 4, 2020. REUTERS/Amir Cohen/File Photo
A Tel Aviv Stock Exchange sign is seen at the bourse in Tel Aviv, Israel November 4, 2020. REUTERS/Amir Cohen/File Photo

Israeli stocks hit record highs on Sunday after the US attacked Iran's nuclear sites in strikes investors believe would likely prevent Tehran from developing nuclear weapons anytime soon.

The broad Tel Aviv 125 index closed 1.8% higher, extending gains to nearly 8% the past week, while the blue-chip TA-35 gained 1.5%.

On the heels of Israeli strikes in Iran, shares rose during all five sessions last week, gaining some 6%, as Israel hit Iranian nuclear and military targets prior to Saturday's surprise US attacks, Reuters reported.

"The destruction of Iran's key nuclear facilities by the US military is, of course, a positive development ... in terms of improving the regional security environment and reducing Iran’s military and nuclear capabilities," said Mizrahi Tefahot chief markets economist Ronen Menachem. "It's a game-changer."

Israel began its punishing attacks on Iranian nuclear facilities, ballistic missile factories and military commanders on June 13, which have been met with retaliatory Iranian strikes against Israel.

US President Donald Trump said he had "obliterated" Iran's main nuclear sites in strikes overnight with massive bunker busting bombs, joining an Israeli assault in a significant new escalation of conflict in the Middle East.

Tehran vowed to defend itself, and responded with a volley of missiles at Israel that wounded scores of people and destroyed buildings in Tel Aviv on Sunday.

In addition to gains in shares, government bond prices have risen, the shekel has appreciated and Israel's risk premium has edged lower.

Bond prices increased as much as 0.2% on Sunday. The shekel does not trade on Sunday but it has rallied from 3.61 per dollar on June 11 to 3.48 on Friday and is up some 1% this month.