The Future Investment Initiative (FII) called for taking advantage of Artificial Intelligence in facing challenges, and to benefit from the rapid transformation in various sectors of the global economy.
The 7th edition of the Future Investment Initiative (FII) Institute concluded on Thursday in Riyadh, with participants emphasizing the importance of AI in providing promising solutions to address economic challenges, especially in light of the potential to enhance productivity and enable data-based decision-making to promote economic growth.
Speakers at the event called for the need for governments and organizations to invest in AI, especially in education and training, in order to ensure that the workforce is prepared for the changing career landscape. They also highlighted the necessity to develop regulatory frameworks to address ethical concerns and guarantee the responsible use of artificial intelligence.
The three-day forum, which opened its seventh edition on Tuesday under the title, The New Compass, was attended by around 6,000 participants from more than 90 countries, and 500 speakers from different sectors inside and outside the Kingdom. Among its objectives was to highlight possible solutions for economic challenges and rely on the optimal use of new technologies, including artificial intelligence, in order to advance global economies.
During a session entitled, The Next Era of Investment in the Middle East, Daniel Loeb, CEO and founder of Third Point, said that 10 percent of businesses in Saudi Arabia are growing at a double-digit rate, which he described as “exciting and not to be underestimated.”
Hong Namkoong, the CEO of the Korean Samsung Engineering Company, stressed that artificial intelligence will come to complement human work.
For his part, Richard Attias, CEO of the Future Investment Initiative, addressed “Sophia,” the first human-like robot, in one of the sessions on the last day of the conference.
Attias asked “Sophia” what she believes about the ability of artificial intelligence and robots to help humans. The robot replied that she had worked to help many people on various global issues and challenges, with a focus on enhancing health policies using technology.
She added that innovation always comes with risks, stressing that technology will greatly help in providing economic opportunities.
Attias revealed that the next edition of the Future Investment Initiative will be held in Hong Kong in December.
“We aspire to focus on many issues related to humanity. We will also be present in Asia, Europe and America,” he said.
