Saudi Arabia launches $20bn AI strategy bid

Saudi Arabia has launched a national artificial intelligence strategy aiming to attract $20 billion in investments over the next 10 years.

With data often cited as ‘the new oil’, it’s perhaps unsurprising that the oil-rich Gulf state should be eyeing something akin to domination of this rapidly emerging field. Saudi Arabia has already invested heavily in ecological progress as it looks beyond oil for its economic future.

National Strategy for Data and Artificial Intelligence

The launch of the National Strategy for Data and Artificial Intelligence (NSDAI) is the focal point of a bid to attract $20 billion of investment, both locally and from abroad, to Saudi Arabia’s tech industry by 2030.

The Saudi Data and Artificial Intelligence Authority (SDAIA), which will lead the NSDAI strategy, said in a statement: “Saudi Arabia will implement a multi-phase, multi-faceted plan that includes skills, policy and regulation, investment, research and innovation, and ecosystem development.”

The launch of NSDAI is part of Saudi Arabia’s Vision 2030 plan to diversify its economy, energise the private sector and create more jobs for Saudi nationals.