Saudi Investment Initiative, Saudi Arabia, focuses on artificial intelligence as an engine for the economy

Artificial intelligence businesses, their investments and the speed of the development of their products have formed a milestone in the financial markets since the beginning of the year. However, the potential role of this technology as an engine of the economy, and the opportunities to benefit from it, were not yet clear, which sheds light on the discussions of the first day of the activities of the eighth edition of the ‘Investment Future Initiative’ in Saudi Arabia. The Governor of the Public Investment Fund, Yasser Al -Ramyan, has seen that Saudi Arabia has a very good position for becoming a global center for a variety of reasons, and not just regional, in the field of artificial intelligence for various reasons, including effective exploitation and low energy costs, together with major countries, and the possession of most technologies in the field of hernub. Fossil question, which is to the queen, is to attract 10% to attract 10% to get the accommodation for staying in stay for staying for the money for the necessary data. Centers to manage artificial intelligence systems. Al -Ramyan added that artificial intelligence will become an economic engine by 2027 as a standard for national power. Artificial general intelligence represents the following new thing as it is considered to solve problems and push productivity, which will affect all sectors of healthcare to energy. Al -Rumayan has indicated that artificial intelligence can add nearly $ 20 billion to the global economy by 2030, while playing a role in the transformation of industries, promoting productivity and tackling critical challenges. Regarding the Saudi Minister of Investment, Khaled Al -Falih, he pointed out during his speech that Saudi Arabia is aimed at establishing an integrated business environment to embrace artificial intelligence enterprises, algorithms and data centers. The New York Times reported in a recent report that Saudi Arabia is considering establishing an investment fund for artificial intelligence with a value of up to $ 40 billion. The Kingdom of the Kingdom announced its intention to invest $ 20 billion in artificial intelligence by 2030. The ‘Promatics’ fund also allocated to invest in Bold Capital, which is fully owned by Saudi Aramco a few days ago, has 100 million dollars to invest in emerging international companies in the field of artificial intelligence. An optimistic mask, on his part, sees billionaire Elon Musk during a distance broadcast dialogue that artificial intelligence improves ten times a year, which means it will be 100,000 times better within four years. ‘Makek that has established’ Xai ‘for artificial intelligence, and tries to raise financing for it with a pace they can do what people in a society can do’ maybe after about three years from this point. ‘The human robots are about 10 billion units. He continued: ‘Every country has industrial intelligence or various types of artificial intelligence, and there are many robots, more than human. ” Softbank ‘group, which is considered the largest technology investor in the world, expected that high artificial intelligence investments will reach 50% of its new sector investments, and emphasize his company’s effort to acquire part of these profits in the future. 9 trillion dollars annually during the next ten years. Sun expected that excellent artificial intelligence would be reached by 2035, and that he needed 200 million chips and hundreds of gigawad. On the other hand, Sun confirmed that the company ‘Arim Holdings’, which is owned by a majority, will play an important role in producing artificial intelligence chips. Massayoshi Son also refuted the idea of ​​”artificial intelligence bubble” of “Soft Bank” and pointed out that “Invidia” is still less than its real value, considering that “the future is much greater.” We will continue to cover the “Future Investment Initiative” opportunities tomorrow. You can follow it via our website Asharqbusiness.com