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Saudi Arabia Earns Top Marks in Global AI Index for National Strategy 

Established in 2019, SDAIA serves as the national authority for all matters related to data (including big data) and AI, providing a centralized hub for its organization, development, and implementation. 
Established in 2019, SDAIA serves as the national authority for all matters related to data (including big data) and AI, providing a centralized hub for its organization, development, and implementation. 
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Saudi Arabia Earns Top Marks in Global AI Index for National Strategy 

Established in 2019, SDAIA serves as the national authority for all matters related to data (including big data) and AI, providing a centralized hub for its organization, development, and implementation. 
Established in 2019, SDAIA serves as the national authority for all matters related to data (including big data) and AI, providing a centralized hub for its organization, development, and implementation. 

The Stanford University International AI Index for 2024 ranked Saudi Arabia among the leading nations globally for developing a national strategy on Artificial Intelligence (AI). This comprehensive resource, valuable for policymakers, researchers, and industry specialists, provides insights into the current state and future trajectory of AI, reported the Saudi Press Agency on Wednesday.

This recognition reflects the Kingdom's commitment to leveraging data and AI technologies. Under the guidance and support of Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, and Chairman of the Saudi Data and Artificial Intelligence Authority (SDAIA) board of directors, the Kingdom is harnessing these powerful and transformative technologies for the betterment of humanity, while promoting a global framework for international cooperation in the field of AI.

Saudi Arabia's strong positioning in the AI and data domain underscores the success of Vision 2030, a national transformation plan where AI plays a pivotal role. Approximately 70% of the goals of Vision 2030 are directly or indirectly tied to AI, propelling the Kingdom toward a leading position in global AI rankings.

Established in 2019, SDAIA serves as the national authority for all matters related to data (including big data) and AI, providing a centralized hub for its organization, development, and implementation.

The latest accomplishment builds on Saudi Arabia's previous achievements in the AI realm. In 2023, the Kingdom secured the top spot in the Government Strategy Index for Artificial Intelligence, in the global AI classification issued by Tortoise Intelligence, which evaluates over 60 countries. Stanford University International AI Index 2023 ranked Saudi Arabia second globally in public awareness about AI.

These global accolades align with SDAIA's tireless efforts to solidify Saudi Arabia's position as a global leader in data and AI. Its multifaceted approach includes capacity building, policy development, fostering investment and innovation, strengthening technical infrastructure, and promoting the adoption of AI solutions in priority areas aligned with national objectives.

SDAIA is dedicated to achieving a set of strategic goals, including continuous modernization of the national data and AI agenda, and ensuring its successful implementation at the national level. Its steadfast commitment paves the way for Saudi Arabia to become a frontrunner in the information, data, and AI-driven economies of the future.

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Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
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Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo

No decision will be made for at least a couple of years on whether Britain will go ahead with a central bank digital currency for the general public, the Bank of England said on Tuesday, pushing back the timeline for the project.

Former Prime Minister Rishi Sunak championed the idea of a digital currency in 2021 when he was finance minister, but the BoE and the current government have been more reluctant and a public consultation attracted widespread privacy concerns.

Governor Andrew Bailey said in October that a central bank digital currency was "not my preferred option" but might be needed if British banks did not ensure their payment systems were more attractive than those offered by less regulated tech companies, Reuters reported.

The BoE said on Tuesday it was starting work with Britain's finance ministry on a potential design for a digital currency, in line with plans in a previous consultation.

"After completing the design phase over the next couple of years, including taking account of developments in the wider payments landscape, the Bank and government will assess the policy case for a digital pound and determine whether or not to proceed," the BoE said.

In January 2024, the BoE said a decision on whether to go ahead with a digital currency would not be made before 2025 at the earliest.

Britain's government has said a digital pound would be private but not anonymous, unlike physical cash.

As with existing bank accounts and credit card payments, authorities would be able to track transactions they suspect involve money laundering or finance terrorism.

"This legislation would safeguard users' privacy, guaranteeing that neither the Bank nor the government could access users' personal information nor control how households and businesses use their money," the BoE said.