Summit Host South Korea Says World Must Cooperate on AI Technology

 South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)
South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)
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Summit Host South Korea Says World Must Cooperate on AI Technology

 South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)
South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)

South Korea's science and information technology minister said on Wednesday the world must cooperate to ensure the successful development of AI, as a global summit on the rapidly evolving technology hosted by his country wrapped up.

The AI summit in Seoul, which is being co-hosted with Britain, discussed concerns such as job security, copyright and inequality on Wednesday, after 16 tech companies signed a voluntary agreement to develop AI safely a day earlier.

A separate pledge was signed on Wednesday by 14 companies including Alphabet's Google, Microsoft, OpenAI and six Korean companies to use methods such as watermarking to help identify AI-generated content, as well as ensure job creation and help for socially vulnerable groups.

"Cooperation is not an option, it is a necessity," Lee Jong-Ho, South Korea's Minister of Science and ICT (information and communication technologies), said in an interview with Reuters.

"The Seoul summit has further shaped AI safety talks and added discussions about innovation and inclusivity," Lee said, adding he expects discussions at the next summit to include more collaboration on AI safety institutes.

The first global AI summit was held in Britain in November, and the next in-person gathering is due to take place in France, likely in 2025.

Ministers and officials from multiple countries discussed on Wednesday cooperation between state-backed AI safety institutes to help regulate the technology.

AI experts welcomed the steps made so far to start regulating the technology, though some said rules needed to be enforced.

"We need to move past voluntary... the people affected should be setting the rules via governments," said Francine Bennett, Director at the AI-focused Ada Lovelace Institute.

AI services should be proven to meet obligatory safety standards before hitting the market, so companies equate safety with profit and stave off any potential public backlash from unexpected harm, said Max Tegmark, President of Future of Life Institute, an organization vocal about AI systems' risks.

South Korean science minister Lee said that laws tended to lag behind the speed of advancement in technologies like AI.

"But for safe use by the public, there needs to be flexible laws and regulations in place."



stc Group Net Profit for First Quarter of 2025 Increases 11.05%

CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat
CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat
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stc Group Net Profit for First Quarter of 2025 Increases 11.05%

CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat
CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth. Asharq Al-Awsat

Saudi Arabia’s stc announced on Sunday the company’s preliminary financial results for the first quarter ending March 31, reporting revenues of SAR19,210 million, a 1.60% increase year-over-year.

Gross profit rose by 5.01% to SAR9,098 million, operating profit increased by 2.02% to SAR3,584 million, and EBITDA grew by 5.25% to SAR6,120 million. Net profit for the quarter reached SAR3,649 million, representing an 11.05% increase compared to the same period last year.

According to a statement issued by stc, the group distributed SAR0.55 per share for the first quarter of 2025, in accordance with the dividends distribution policy approved by the General Assembly.

Commenting on the results, CEO of stc Group Eng. Olayan Alwetaid highlighted that the group’s achievements were the result of its unwavering commitment to innovation, operational efficiency, and sustainable growth, as well as its relentless pursuit of creating added value for shareholders, customers, and the digital economy as a whole.

He further added that, early in 2025, stc Group achieved several strategic milestones that further solidified its position in the telecommunications and information technology sector. Among these achievements was a new global milestone, as the group successfully localized the software for eSIM technology in collaboration with Thales, making stc the first telecom operator in the world to obtain SAS-UP license certification from the GSMA.

He emphasized that this accomplishment complements stc’s ongoing efforts to support local content in the ICT sector through business localization and the transfer of manufacturing and technical expertise to the Kingdom.
In continuation of the group’s efforts to enhance the digital communication infrastructure in the region, stc signed a strategic agreement with Ooredoo to establish an international ground fiber network corridor between Saudi Arabia and Oman. This strategic partnership aims to enhance the digital communication infrastructure in the region through the project, which starts with the Saudi-Oman corridor. The project will also create an integrated ground fiber network with two backup routes, connecting submarine cable landing stations on the Red Sea in Saudi Arabia to their counterparts on the Arabian Sea in Oman, passing through dedicated data centers in both countries. This agreement reaffirms the Group’s commitment to delivering advanced communication solutions, enhancing intercontinental connectivity, and driving digital transformation to support the region’s economic growth.
The statement added that stc Group strengthened its position in cloud computing and artificial intelligence by signing an agreement with Amazon Web Services (AWS). This partnership significantly boosts the Group’s ability to deliver advanced technological solutions tailored to the diverse needs of various sectors, while reaffirming its commitment to driving the shift toward an integrated digital economy and leading the future of smart technology in the Kingdom and beyond.
Furthermore, as part of its commitment to providing the highest quality of digital services, stc Group enhanced its telecommunications network in the Two Holy Mosques during the holy month of Ramadan by strengthening its infrastructure to meet the growing demand for services during peak times. This upgrade resulted in a 120% increase in connection speed, enabling the Group to ensure an exceptional communication experience for visitors to the holy sites during the peak visitor periods.