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SDAIA President Unveils 'State of AI in Saudi Arabia' Report

The report, titled "The State of AI in Saudi Arabia," examines the development of AI technologies in the country over the past five years (2019-2023). SPA
The report, titled "The State of AI in Saudi Arabia," examines the development of AI technologies in the country over the past five years (2019-2023). SPA
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SDAIA President Unveils 'State of AI in Saudi Arabia' Report

The report, titled "The State of AI in Saudi Arabia," examines the development of AI technologies in the country over the past five years (2019-2023). SPA
The report, titled "The State of AI in Saudi Arabia," examines the development of AI technologies in the country over the past five years (2019-2023). SPA

President of the Saudi Data and Artificial Intelligence Authority (SDAIA) Dr. Abdullah bin Sharaf Al-Ghamdi has unveiled a report detailing the Kingdom's advancements in AI.

The report, titled "The State of AI in Saudi Arabia," examines the development of AI technologies in the country over the past five years (2019-2023). It highlights Saudi Arabia's efforts in the field, which have garnered international recognition.

The report, which was unveiled during a press conference at the Global AI Summit (GAIN Summit), outlines seven key pillars that underpin Saudi Arabia's progress: policies and regulations, investment, infrastructure, data, talent and human capabilities, research and innovation, and adoption.

It emphasizes SDAIA's role in leading the nation's digital transformation and advancing the national data and AI agenda. This includes promoting AI adoption across government entities, raising public awareness, developing a robust strategy, and fostering the utilization of data and AI technologies throughout the Kingdom.

The report reflects SDAIA's commitment to fostering data-driven capabilities and continuous innovation in the field of AI. It aims to solidify Saudi Arabia's position as a leader amongst data-driven and AI-powered economies of the future.

The report also serves as a valuable resource for understanding the latest global trends in AI and showcasing Saudi Arabia's achievements in raising awareness and educating society on the transformative potential of AI in serving humanity.

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Dell Forecasts Downbeat Fourth-Quarter Revenue on PC Weakness

The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)
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Dell Forecasts Downbeat Fourth-Quarter Revenue on PC Weakness

The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)

Dell forecast fourth-quarter revenue below Wall Street expectations on Tuesday, weighed down by weaker demand for its traditional PCs and competition from rival server makers, sending its shares down more than 10% in extended trading.

Despite booming demand for the company's AI-optimized servers used to handle large artificial intelligence workloads, Dell's PC segment has been grappling with stiff competition from rivals and weak consumer spending amid an uncertain economy.

Enterprise customers are being mindful of their PC and IT spending in the short term, Dell executives said on a post-earnings conference call, adding that the company's consumer business was weaker than expected.

Dell forecast fourth-quarter revenue between $24 billion and $25 billion. The average analyst estimate is $25.57 billion, according to data compiled by LSEG.

"The entire PC market is in a transition period and moving towards on-device AI functionality which still isn't that defined and is expected to solidify in 2025," Gadjo Sevilla, senior analyst for AI and Tech at Emarketer, said.

Revenue from Dell's client solutions group, which houses its PC business, came in at $12.13 billion, below expectations of $12.43 billion.

Rival PC maker HP also provided a weak first-quarter profit forecast, while electronics retailer Best Buy trimmed its annual forecasts against the backdrop of weak consumer electronics demand.

Investors are also keenly eyeing Dell's costs after the company flagged in May that higher expenses to build AI-heavy servers and competitive pricing would hurt its margins.

"Interest in our portfolio is at an all-time high, driving record AI server orders demand of $3.6 billion in Q3 and a pipeline that grew more than 50%," Dell's Chief Operating Officer Jeff Clarke said on Tuesday.

Revenue from the company's infrastructure solutions group unit, which houses its AI servers business, rose 34% to $11.37 billion and beat estimates.

Dell reported revenue of $24.37 billion in the third quarter, missing estimates of $24.67 billion.