SDAIA Showcases Efforts in Utilizing AI to Support Entrepreneurs at Saudi-Korean Business Forum

The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)
The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)
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SDAIA Showcases Efforts in Utilizing AI to Support Entrepreneurs at Saudi-Korean Business Forum

The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)
The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)

The Saudi Data and AI Authority (SDAIA) participated in a working session centered around innovation and technology during the Saudi-Korean Business Forum in Seoul, South Korea.

Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi and a delegation of government and private sector officials are on an official visit to the Korean capital. The visit aims to bolster commercial relations in key economic sectors between both nations, strengthening their economic partnership.

The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry.

At the forum’s Saudi Arabia pavilion, SDAIA showcased the Rowad initiative, a package designed to assist entrepreneurs and micro, small, and medium-sized enterprises in Saudi Arabia.

The initiative facilitates entrepreneurs and startups in verifying client data electronically by integrating with the National Information Center databases, ensuring top-notch safety, reliability, and supporting entrepreneurs' contributions to the national GDP. It enhances identity uses in emerging sectors and improves facility data quality.

SDAIA also presented plans for the third edition of the Global AI Summit, scheduled for Riyadh in September. Featuring over 250 speakers from across the globe, the summit will delve into AI potentials and its impacts across diverse fields.

SDAIA’s participation in the forum aligns with the Authority’s commitment to fostering partnerships with international entities. Through such collaborations, SDAIA strives to realize its vision of establishing a data-driven national economy, in line with the goals of Saudi Vision 2030, and positioning the Kingdom among leading countries in data and AI-driven economies.



Chinese Tech Giant Huawei Says Profits Fell 28% Last Year

(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
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Chinese Tech Giant Huawei Says Profits Fell 28% Last Year

(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT

Chinese smartphone maker giant Huawei said Monday that profits fell 28 percent last year as it faced international economic uncertainty and weak consumption at home.

The Shenzhen-based company has been at the center of an intense standoff between China and the United States after Washington warned its equipment could be used for espionage by the Chinese government, an allegation Huawei denies.

Sanctions since 2019 have cut the firm's access to US-made components and technologies, forcing it to diversify its growth strategy.

The company announced Monday that it made a net profit of 62.6 billion yuan ($8.6 billion) last year, down from 87 billion yuan in 2023.

Revenue rose 22 percent on-year -- marking a third successive increase after a sharp drop in 2021 during the pandemic.

Its 862.1 billion yuan in revenue was the highest since the figure surpassed 890 billion yuan in 2020.

The results were "in line with forecast", the company's rotating chairwoman Sabrina Meng said in a statement, according to AFP.

Employees "banded together to tackle a wide range of external challenges", Meng said, adding that the firm was "firmly committed to its quality goals and will keep honing quality as a competitive edge".

US sanctions have since 2019 cut Huawei off from global supply chains for technology and US-made components, a move that initially hammered its production of smartphones.

Last year, the company unveiled its first smartphone equipped with a fully homegrown operating system, a test of its ability to challenge the dominance of Western juggernauts.

It also released the world's first triple-folding phone, launched hours after its US rival Apple lifted the curtain on its newest iPhone.

Apple remains popular among Chinese consumers but has ceded ground to domestic players such as Huawei in recent years.

Huawei remains one of the world's leading equipment manufacturers for 5G, the fifth generation of mobile internet, and has been involved in infrastructure projects in numerous countries.