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SDAIA Inaugurates Excellence Center for Generative AI

SDAIA inaugurates the Center of Excellence for Generative Artificial Intelligence in collaboration with NVIDIA. (SPA)
SDAIA inaugurates the Center of Excellence for Generative Artificial Intelligence in collaboration with NVIDIA. (SPA)
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SDAIA Inaugurates Excellence Center for Generative AI

SDAIA inaugurates the Center of Excellence for Generative Artificial Intelligence in collaboration with NVIDIA. (SPA)
SDAIA inaugurates the Center of Excellence for Generative Artificial Intelligence in collaboration with NVIDIA. (SPA)

The Saudi Data and Artificial Intelligence Authority (SDAIA) inaugurated the Center of Excellence for Generative Artificial Intelligence in collaboration with the global technology company NVIDIA and launched the pilot version of the ALLAM application, reported the Saudi Press Agency on Tuesday.

This step is the first of its kind in the region for its importance in achieving the benefit of AI, enhancing the Kingdom's position in the field, and supporting cognitive capabilities.

Several ministers and officials in the public and private sectors, Saudi universities, hospitals, specialists in technology companies, and those interested in the fields of artificial intelligence from within the Kingdom along with foreign participants attended the event.

These accomplishments are in line with the objectives of the Saudi Vision 2030 – led by Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and Chairman of the Board of Directors of SDAIA – reflecting his unlimited support for efforts to make the Kingdom a global technological hub for the latest advanced technologies related to AI.

The innovative projects adopted by SDAIA in AI are part of the authority's capacity as the national reference for data and AI in all related aspects of the Kingdom.

The projects are receiving support from Crown Prince Mohammed in recognition of the role they play in improving data and AI, stimulating their growth and utilizing them to serve humanity and lead the Kingdom's efforts to become a global leader in AI.

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South Korea's SK Hynix to Invest $75 Bln by 2028 in AI, Chips

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)
The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)
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South Korea's SK Hynix to Invest $75 Bln by 2028 in AI, Chips

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)
The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)

South Korea's SK Hynix, the world no.2 memory chip maker, will invest 103 trillion won ($74.6 billion) through 2028 to strengthen its chips business, focusing on AI, its parent SK Group said on Sunday.

SK Group also said it plans to secure 80 trillion won by 2026 to invest in artificial intelligence and semiconductors as well as fund shareholder returns, while streamlining its more than 175 subsidiaries.

The sprawling conglomerate outlined the plans following a two-day strategy meeting, aiming to revive the group after SK Hynix, its main money maker, and the group's electric vehicle battery arm suffered heavy losses.

SK Group said it sought to improve its competitiveness by focusing on its AI value chain, including high bandwidth memory (HBM) chips, AI data centres and AI services such as personalised AI assistants.

At a time of transition, a "preemptive and fundamental change is necessary," SK Group Chairman Chey Tae-won was quoted as saying in the statement

During the meeting, the executives also agreed to take gradual steps to adjust the number of subsidiaries in the group to a "manageable range", without specifying the scale of the reduction.

Local media had said SK Innovation, which owns the county's largest oil refiner and battery maker SK On, was expected to pursue a merger with profitable gas affiliate SK E&S.

The group expects its profit before tax to reach around 22 trillion won this year, turning around from a loss last year, with the goal of hitting 40 trillion won in profit before tax by 2026.

South Korea, home to the world's top memory chip makers Samsung Electronics and SK Hynix, has fallen behind some rivals in areas such as chip design and contract chip manufacturing.

Earlier this year, the government announced a 26 trillion won ($19 billion) support package for its chip businesses, citing a need to keep up in areas like chip design and contract manufacturing amid 'all-out warfare' in the global semiconductor market.