Saudi Communications Minister Meets with ITU Secretary-General, Global Tech Leaders

The discussions in Davos focused on stimulating partnerships and initiatives aimed at connecting the world and the importance of seizing opportunities in generative artificial intelligence. SPA
The discussions in Davos focused on stimulating partnerships and initiatives aimed at connecting the world and the importance of seizing opportunities in generative artificial intelligence. SPA
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Saudi Communications Minister Meets with ITU Secretary-General, Global Tech Leaders

The discussions in Davos focused on stimulating partnerships and initiatives aimed at connecting the world and the importance of seizing opportunities in generative artificial intelligence. SPA
The discussions in Davos focused on stimulating partnerships and initiatives aimed at connecting the world and the importance of seizing opportunities in generative artificial intelligence. SPA

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha has discussed with the Secretary-General of the International Telecommunication Union (ITU), Doreen Bogdan-Martin, ways to enhance cooperation and digital inclusion.

The discussion in Davos on Monday also focused on stimulating partnerships and initiatives aimed at connecting the world, empowering individuals, and protecting the planet.

The meeting, held as part of the Saudi delegation's participation in the annual World Economic Forum meeting, emphasized the significance of expanding partnerships to foster the digital economy's growth.

It also highlighted the importance of seizing opportunities in generative artificial intelligence, developing national digital skills, and enabling digital entrepreneurship.

Al-Swaha also met with various leaders of prominent global technology and innovation companies to enhance partnerships in the digital economy and innovation sectors.

The discussions focused on developing solutions and technologies related to cloud computing, generative artificial intelligence, and enhancing the digital capabilities of Saudis in emerging technologies and localizing digital content.

Additionally, the minister conducted meetings with the founder and CEO of Scale AI, Alexander Wang and President and CEO of the Ericsson Group Borje Ekholm to explore partnerships, exchange expertise, and foster the growth of the digital economy and innovation.



Google Adds SandboxAQ's Quantitative AI Models to Cloud Offerings

The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo
The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo
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Google Adds SandboxAQ's Quantitative AI Models to Cloud Offerings

The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo
The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo

Quantum startup SandboxAQ said its large quantitative models (LQMs) will be available on Google Cloud, the company told Reuters on Tuesday, as cloud providers look to AI tech to fuel growth.

LQMs are designed to handle large-scale numerical datasets, perform complex calculations and statistical analysis, and can be used to develop sophisticated financial models or to automate trading strategies.

The partnership will make it easier for enterprises to use Google Cloud to develop its LQMs and deploy them, allowing Sandbox, a firm spun off from Google-parent Alphabet in 2022, to expand the distribution of its platform to a larger pool of potential customers.

"More than 80% of the economy is run by math and quantitative relationships. And that's where quantitative AI really shines, and it's very complementary to language models," CEO SandboxAQ, Jack Hidary said.

This is the first time Sandbox will have its models available on a third-party platform.

The Palo Alto-based startup secured $300 million in a funding round last month, boosting its valuation to $5.6 billion and was backed by investor firms including Fred Alger Management, T. Rowe Price, and Breyer Capital.

SandboxAQ said its models are used in sectors such as life sciences, financial services and navigation.

Google has been intensifying its efforts in quantum computing and announced in December that it had made significant progress by developing a new generation of quantum chips, overcoming a major challenge in the field.

Microsoft also touted the potential of quantum computing earlier this month and unveiled its "Quantum Ready program", while Nvidia's CEO Jensen Huang said the technology's practical use was likely two decades away.