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Saudi Arabia’s AI Revolution: Unleashing Risk Appetite And Financial Power
As the Saudi Public Investment Fund (PIF) marches towards an impressive $1 trillion by 2025, it solidifies its position as a major player in global investments, particularly in transformative tech. PIF, guided by Crown Prince Mohammed Bin Salman (MBS), is the 5th largest Sovereign Wealth Fund in the world, with $926 billion in assets (SWFI). PIF is the main financial vehicle to execute the Crown Prince’s Vision 2030, a transformative initiative designed to diversify Saudi Arabia’s economy, generate employment, and prosperity for its youthful population (80 percent of which is younger than 35). PIF is investing in sports, AI, tourism, clean energy, smart cities, and floating industrial towns.
Saudi Arabia has prioritized investing in AI as the quickest way for the country to innovate, create jobs, and boost competitiveness. The Saudis are promoting innovation from the ground up, ensuring that AI is fully integrated into the country’s development strategies and social context. In other words, Saudi Arabia wants to create a fertile environment where AI can grow, evolve, and thrive. From establishing the Saudi Data and Artificial Intelligence Authority (SDAIA) to launching NEOM and Quiddya smart cities, Saudi Arabia is building an ecosystem that requires AI, computing power, and chip manufacturing mainstreaming.
