- Aim to enhance the skills of millions of students and professionals through targeted AI programs.
- Al Rumayyan emphasises Kingdom’s potential as a prime location for global tech partnerships, and foster an AI-friendly ecosystem through investments in human capital and technology.
The Public Investment Fund (PIF) of Saudi Arabia has announced a strategic partnership with Google Cloud to establish a new AI hub near Dammam, in the Eastern Province of Saudi Arabia.
The landmark collaboration, unveiled during the Future Investment Initiative 8th Edition (FII8), aims to position Saudi Arabia as a premier destination for AI innovation, catering to both local and international enterprises and startups.
The partnership is poised to have a profound impact on the Saudi workforce, with initiatives designed to enhance the skills of millions of students and professionals through targeted AI programs.
Economic diversification goals
This aligns with the national objective of expanding the information and communications technology (ICT) sector by 50 per cent, thereby contributing to the Kingdom’s broader economic diversification goals.
By leveraging Google Cloud’s advanced AI technology, businesses will gain access to enhanced capabilities for developing and deploying AI models and applications, resulting in improved quality and efficiency of services delivered to consumers.
Central to this collaboration is the commitment to develop Arabic language models and applications tailored to the Saudi context. The endeavour will be supported by Google Cloud’s cutting-edge infrastructure, including the latest tensor processing units (TPUs) and graphics processing units (GPUs), as well as the Vertex AI platform, which facilitates the creation of generative AI applications.
Robust digital infrastructure
Such advancements will not only serve local businesses but will also enhance the global competitiveness of Saudi enterprises.
The strategic partnership underscores Saudi Arabia’s attractiveness as a hub for major technological initiatives. Its strategic geographical location, robust digital infrastructure, and access to renewable energy resources create a conducive environment for investment in AI and technology.
Yasir Al Rumayyan, Governor of PIF, emphasised the Kingdom’s potential as a prime location for global tech partnerships, highlighting the PIF’s commitment to fostering an AI-friendly ecosystem through investments in human capital and technology.
Furthermore, Ruth Porat, President and Chief Investment Officer of Alphabet and Google, articulated the potential of this partnership to accelerate AI adoption across various sectors, including healthcare, retail, and financial services.
The initiative promises to generate highly-skilled jobs for Saudis while creating opportunities for international businesses to thrive through cloud technology.
Preliminary research commissioned by Google Cloud and conducted by Access Partnership, a global tech policy advisory firm, estimates the new AI hub could add a cumulative $71 billion in GDP to the Saudi economy over eight years.
The increased economic activity from AI adoption in Saudi Arabia is expected to support the creation of thousands of highly skilled direct and indirect jobs.
The new investments build on Google Cloud’s existing presence in Saudi Arabia, which includes the Dammam cloud region, which launched last year and is part of Google Cloud’s current global network of 40 regions.