Saudi Arabia Brings Together Policy Makers, Major AI Investors

The Global Summit on Artificial Intelligence in its first edition, which was held in Riyadh two years ago (Asharq Al-Awsat)
The Global Summit on Artificial Intelligence in its first edition, which was held in Riyadh two years ago (Asharq Al-Awsat)
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Saudi Arabia Brings Together Policy Makers, Major AI Investors

The Global Summit on Artificial Intelligence in its first edition, which was held in Riyadh two years ago (Asharq Al-Awsat)
The Global Summit on Artificial Intelligence in its first edition, which was held in Riyadh two years ago (Asharq Al-Awsat)

Under the patronage of Crown Prince Mohammed Bin Salman, chairman of the Board of Directors of the Saudi Data and AI Authority (SDAIA), the second Global Artificial Intelligence (AI) Summit, organized by SDAIA, is scheduled to commence Tuesday.

Under the theme “Artificial Intelligence for the Good of Humanity,” more than 10,000 people of policymakers, specialists, and concerned figures with AI will take part in the summit.

It will be held at the headquarters of the King Abdul Aziz International Conference Center in Riyadh between Sept. 13 and 15, 2022.

Organizers have completed all preparations to embark on the summit that will go over all aspects of AI, including the present challenges and aspirations to benefit from AI technologies through what participants — including experts and specialists of senior officials from government and major IT companies in the world — will provide of various presentations that shed light on the latest research and innovations in the field, and exchange expertise and explore investment opportunities related to AI in the upcoming stage.

The summit offers an opportunity for concerned people and experts in this field to benefit from the gathering of more than 200 speakers representing 90 countries under one ceiling in Riyadh to listen to their visions and presentations through their participation in more than 100 work sessions, panel discussions and workshops, in addition to getting acquainted with more than 40 cases of using AI that will be displayed during the summit by local and global innovative institutions.

The summit is also planned to discuss several topics that show the impacts of AI on top sectors, such as smart cities, capacity building, healthcare, transportation, energy, culture, environment, and economic mobility, with the aim of finding solutions to current challenges and maximizing benefits from AI technologies.

The event will also address various AI technologies, including the present, challenges and aspirations towards utilizing these technologies in our daily lives to serve humanity, in addition to exchanging expertise with local and international experts, exploring investment opportunities related to AI technologies, and going over several fields that can reshape dialogue among technology, policies and systems in a bid to guarantee a unified application for AI that relies on humanitarian pillars.

The summit will also include the signing of more than 40 agreements and memorandums of understandings between the public and private sectors from the Kingdom of Saudi Arabia and abroad, in addition to announcing 8 local and international initiatives among global companies and institutions in a bid to enhance international cooperation on AI and its uses.



Dollar Hobbled by Economic Worries; Euro Remains in Favor

US dollar drifted within a tight range on Monday, pressured by lower Treasury yields - Reuters
US dollar drifted within a tight range on Monday, pressured by lower Treasury yields - Reuters
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Dollar Hobbled by Economic Worries; Euro Remains in Favor

US dollar drifted within a tight range on Monday, pressured by lower Treasury yields - Reuters
US dollar drifted within a tight range on Monday, pressured by lower Treasury yields - Reuters

The dollar hovered near a five-month low against major peers on Monday, bruised by President Donald Trump's erratic trade policies and soft economic data, at a time when other currencies, including the euro, benefit from domestic drivers.

The euro was last at $1.0905, up 0.2% on the day, and heading back towards the $1.0947 it hit last week, its highest since October 11.

The Japanese yen was also marginally stronger on the day at 148.48 per dollar, again after hitting its strongest in five months last week at 146.5 to the dollar.

That left the dollar index, which measures the US currency against its six major counterparts, at 103.5, just off its five-month trough of 103.21 reached last Tuesday, Reuters reported.

Currency markets have undergone a shift in recent months, as traders re-evaluate their initial expectations that Trump's economic policies would both support the dollar and cause other currencies to weaken.

In fact the reverse has happened, and analysts at Societe Generale said on Monday that they had changed their currency forecasts "to reflect Germany's planned fiscal changes, the US economy's self-inflicted (relative) fragility, and Japan’s escape from deflation".

They see the euro at $1.13 by year-end and the yen at 139 per dollar.