GAIN Summit Kicks off in Riyadh Under Patronage of Saudi Crown Prince

The third edition of the Global AI Summit (GAIN Summit), organized by the Saudi Data and Artificial Intelligence Authority (SDAIA), kicked off in Riyadh on Tuesday. (SPA)
The third edition of the Global AI Summit (GAIN Summit), organized by the Saudi Data and Artificial Intelligence Authority (SDAIA), kicked off in Riyadh on Tuesday. (SPA)
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GAIN Summit Kicks off in Riyadh Under Patronage of Saudi Crown Prince

The third edition of the Global AI Summit (GAIN Summit), organized by the Saudi Data and Artificial Intelligence Authority (SDAIA), kicked off in Riyadh on Tuesday. (SPA)
The third edition of the Global AI Summit (GAIN Summit), organized by the Saudi Data and Artificial Intelligence Authority (SDAIA), kicked off in Riyadh on Tuesday. (SPA)

The third edition of the Global AI Summit (GAIN Summit), organized by the Saudi Data and Artificial Intelligence Authority (SDAIA), kicked off in Riyadh on Tuesday under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the SDAIA's Board of Directors.

The event, which runs through September 12, features 450 speakers and attendees from 100 countries, including prominent figures in the field of AI, policymakers, and thought leaders.

At the summit, 150 sessions and workshops will be held.

The opening ceremony was attended by several prominent figures, including members of the Royal Family, ministers, foreign officials, thought leaders, and executives from leading technology and AI companies from around the globe, alongside ambassadors accredited to the Kingdom.

In his opening speech, SDAIA President Dr. Abdullah bin Sharaf Al-Ghamdi expressed gratitude to Crown Prince Mohammed for his patronage and emphasized the summit's role in furthering the Kingdom's Vision 2030.

Al-Ghamdi highlighted the Kingdom's leadership in AI innovation and SDAIA's commitment to its role to propel the nation's economic growth through data and AI.

He underlined the summit's aim to push the AI boundaries for the benefit of humanity while acknowledging the ethical challenges posed by the rise of generative AI, including forgery, and the need to address information generated using AI.

He highlighted the global competition for AI talent and the need to overcome the challenges inherent in attracting talent, particularly from the global North, in order to ensure balanced digital, economic, and social development.

Al-Ghamdi presented the authority's achievements in the field of data and AI since its establishment in 2019, including holding the first edition of the Global AI Summit, where discussions led to the establishment of a UN-affiliated advisory body for AI.

He underlined the authority's role in fostering global collaboration in AI governance through hosting a major consultation for the UN, in which over 50 countries participated.

Moreover, he lauded UNESCO's efforts in promoting AI ethics, including the establishment of the International Center for Artificial Intelligence Research and Ethics (ICAIRE), in Riyadh, which is recognized by the organization as an international center.

He further outlined key SDAIA initiatives, including the ALLaM model, a pioneering Arabic language model developed in Saudi Arabia, and the "SauTech" innovation, a highly accurate Arabic speech-to-text tool covering 15 Arabic dialects. The technology is being utilized by the Ministry of Justice to transcribe court sessions, placing it at the forefront of AI-driven judicial system.

Al-Ghamdi emphasized SDAIA's ongoing work with government agencies to leverage AI in the healthcare sector, highlighting the "EYENAI" solution, which has contributed to the early diagnosis of 846 potential patients in the past year.

He stressed SDAIA's commitment to addressing the challenges facing local and global AI talents. To attain this goal, he said, the authority organized the largest national programming and AI Olympiad, in which more than 570,000 Saudi students participated, asserting that the Kingdom is hosting the first International AI Olympiad, with 25 countries competing in Riyadh.

He stressed that SDAIA continues to build national capabilities and aims to achieve gender equality in the AI workforce.

SDAIA, he said, has also made strides on a global scale with its effort to promote gender equality worldwide, particularly through the Elevate Initiative, which was launched during the second edition of the Global AI Summit, and through which the skills of women from 28 countries have been honed.

Al-Ghamdi stressed that AI is not a tool that replaces human capabilities, but a powerful enabler in expanding them, and "this journey is not just about technical achievements, but a race for a more brilliant industrial intelligence. It is about forging a partnership between humans and machines to solve pressing challenges so that AI can work for humanity".

He called for a human-centered AI, where technology promotes creativity and human compassion instead of replacing them, urging participants to join the summit discussions to bridge gaps, improve the quality of life, and create a future in which technology and humanity are in harmony.

Minister of Communications and Information Technology Abdullah Al-Swaha presented the investment theory in AI in the first session of summit, titled "Empowering Society through AI Driven Technology". He noted that the Kingdom's challenge lies in starting from a high level of ambition to achieve productivity and prosperity through local, regional, and global innovations.

He said: "We can take cloud computing as an example, as innovation began in 2006 and continued until 2013. The sector faced many challenges at the physical and technical levels as well. Still, it succeeded in moving from an industry worth $10 billion to a broad market worth more than half a trillion dollars".

He touched on three main challenges in AI: devices and energy efficiency, where, he said, AI techniques lack energy efficiency; storage and memory, with many global developers exerting efforts to accelerate the development of memory devices; and models, where there might be confusion regarding accurate and false information, or some biases may occur.

The opening ceremony included visual presentations of the scope of AI, its relationship with humans, and the development of related technologies.

At the summit, SDAIA, in partnership with UNESCO, announced that the International Center for Artificial Intelligence Research and Ethics (ICAIRE) classifies as a Category 2 Center (C2C) under UNESCO auspices.

ICAIRE's classification underscores the significant role Saudi Arabia plays in fostering international and regional partnerships in AI policies, ethics, and research, in addition to its global initiatives supporting the United Nations 2030 Sustainable Development Goals (SDGs).

The classification is an acknowledgement of the Kingdom's dedication to advancing UNESCO's mission to utilize AI for the betterment of humanity, with emphasis on assisting developing nations, and the attainment of the UN SDGs.



IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.


Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.


Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.