stc Group and the Research, Development, and Innovation Authority signed on Tuesday a cooperation agreement to establish the stc Group Artificial Intelligence Lab. The strategic partnership aims to support and empower pioneering projects in Saudi Arabia.
The agreement was signed by Research, Development, and Innovation Authority acting Supervisor-General Dr. Mohammed Al-Otaibi and stc Group chief technology officer Eng. Haitham Al-Faraj on the sidelines of the Global Artificial Intelligence Summit, which is being held in Riyadh. The summit focuses on developing effective mechanisms to support national projects aligned with Saudi Vision 2030.
The partnership will provide the necessary capabilities to foster innovative ideas and projects that contribute to a knowledge-based economy and solidify Saudi Arabia's position as a global technology hub.
It represents a significant step towards creating a supportive environment for innovation and entrepreneurship, driving sustainable economic growth, and developing national capabilities in various technical fields.
The stc Group's artificial intelligence (AI) lab will serve as a platform for testing and developing innovative technical solutions. It will provide an integrated environment to support ideas and transform them into products and services that enhance Saudi Arabia's global competitiveness and achieve national targets.
This includes increasing the number of startups, supporting entrepreneurs, providing a conducive environment for innovation, and increasing research and development spending through collaboration between government agencies and private-sector companies.
The lab will also contribute to increasing the number of patents, creating new job opportunities, and supporting the transformation of ideas into inventions at the global level.
