Riyadh Hosts Third Edition of Global AI Summit in September

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
TT
20

Riyadh Hosts Third Edition of Global AI Summit in September

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

The third edition of the Global AI Summit will be held in Riyadh from September 10 to 12 under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and Chairman of the Board of Directors of the Saudi Data and Artificial Intelligence Authority (SDAIA).

In a statement, SDAIA President Dr. Abdullah bin Sharaf Al-Ghamdi expressed his gratitude to Crown Prince Mohammed for his unwavering support for the Global AI Summit.

He emphasized the pivotal role this patronage plays in advancing the national data and AI agenda, maximizing the benefits of cutting-edge technologies, and improving the Kingdom's global standing and reinforcing its leadership position in the field.

“This summit builds on the remarkable achievements of its previous editions, held in 2020 and 2022 under the gracious patronage of the Crown Prince,” he added.

“The third edition of the summit distinguishes itself through its extensive range of topics covering diverse areas of global interest in data and AI. This is particularly significant considering the rapid progress of these technologies and their profound impact on individuals and institutions,” he stressed.

The summit will cover key topics in the field of AI, such as innovation and industry trends, shaping a brighter future for AI, and cultivating an enabling environment for human talent.

Sub-themes will delve into various issues, including local and global AI applications, the integral relationship between humans and AI, business leadership in AI, the correlation between data and applications, generative AI, AI ethics, AI processing and infrastructure, and the role of AI in smart cities.

Al-Ghamdi extended an invitation to leading AI policymakers and individuals passionate about data and innovation to participate in the upcoming summit.

The gathering aims to tackle critical issues surrounding AI development and establish a framework for its responsible use.

According to Al-Ghamdi, the summit is expected to have a positive impact both locally and internationally. It aims to strengthen the Kingdom's role in supporting the UN 2030 Sustainable Development Goals, thus contributing to a better future for all.

Al-Ghamdi underscored the summit's significance to Saudi Vision 2030, led by Crown Prince Mohammed, and said it aspires to make Riyadh a global compass for AI advancements, fostering collaboration on responsible AI development that benefits humanity as a whole.

Attendees will gain insights from prominent international decision makers, ministers, heads of organizations, and tech CEOs.

The summit will facilitate interaction with leading data scientists and AI researchers, offering a global perspective on cutting-edge developments.

The event is expected to witness the signing of local and international agreements, which will form the foundation of future international initiatives in AI led by Saudi Arabia.

Al-Ghamdi said the third edition of the summit underscores the Kingdom's ambition, as envisioned by Crown Prince Mohammed, to become a leading global model in the AI field.



Trump Offers Support to Musk's Car Company in a Surprising Post as Tesla Stock Plunges

Mar 22, 2025; Philadelphia, PA, USA; Elon Musk and President Donald Trump during the Division I Men's Wrestling Championship held at Wells Fargo Center. Mandatory Credit: Eric Hartline-Imagn Images/File Photo
Mar 22, 2025; Philadelphia, PA, USA; Elon Musk and President Donald Trump during the Division I Men's Wrestling Championship held at Wells Fargo Center. Mandatory Credit: Eric Hartline-Imagn Images/File Photo
TT
20

Trump Offers Support to Musk's Car Company in a Surprising Post as Tesla Stock Plunges

Mar 22, 2025; Philadelphia, PA, USA; Elon Musk and President Donald Trump during the Division I Men's Wrestling Championship held at Wells Fargo Center. Mandatory Credit: Eric Hartline-Imagn Images/File Photo
Mar 22, 2025; Philadelphia, PA, USA; Elon Musk and President Donald Trump during the Division I Men's Wrestling Championship held at Wells Fargo Center. Mandatory Credit: Eric Hartline-Imagn Images/File Photo

President Donald Trump took to social media Thursday morning to support Elon Musk's car company, a startling development given their bitter public feud.

”I want Elon, and all businesses within our Country, to THRIVE,” Trump wrote on Truth Social, Reuters reported.

The post wasn't enough to help Tesla's stock, which fell sharply after the company reported another quarter of lackluster financial results and Musk warned of some potentially “rough quarters” into next year. At midday, the stock was down around 9%.

Late Wednesday, Tesla said revenue fell 12% and profit dropped 16% in the April-June quarter. Many prospective buyers have been turned off by Musk’s foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China.

Investors have been unnerved by Musk's social media spat with the president because Trump has threatened to retaliate by ending government contracts and breaks for Musk's various businesses, including Tesla.

But Trump struck a starkly different tone Thursday morning.

“Everyone is stating that I will destroy Elon’s companies by taking away some, if not all, of the large scale subsidies he receives from the US Government. This is not so!" Trump wrote. “The better they do, the better the USA does, and that’s good for all of us.”

After Trump's massive budget bill passed earlier this month, Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers. Trump’s tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call.

Musk has blasted the budget bill on his own social media platform X for adding to US debt at a time when it is already too large. The Tesla CEO has called the budget pushed by the president a “disgusting abomination” and has threatened to form a new political party.

On Wednesday's call, Musk said the electric vehicle maker will face “a few rough quarters” as it moves into a future focused less on selling cars and more on offering people rides in self-driving cars. He also talked up the company's business making humanoid robotics. But he acknowledged those businesses are a ways off from contributing to Tesla’s bottom line.

Tesla began a rollout in June of its paid robotaxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably “half of the population of the US by the end of the year — that’s at least our goal, subject to regulatory approvals.”

“We’re in this weird transition period where we’ll lose a lot of incentives in the US,” Musk said, adding that Tesla “probably could have a few rough quarters” ahead. He added, though, “Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.”