Artificial Intelligence to add more than $133bn to Saudi Arabia's GDP

RIYADH: Artificial intelligence (AI) is expected to contribute an estimated SR500 billion ($133 billion) to the Kingdom's gross domestic product by 2030, according to the Saudi Data and Artificial Intelligence Authority (SDAIA). The SDAIA was launched last August by royal decree and is responsible for overseeing the country's data and AI strategy through the National Data Management Office, the National Information Center, and the National Center for Artificial Intelligence. The SDAIA said the value of Saudi Arabia's data and AI economy was currently estimated at between SR15 - 20 billion, and that there was an opportunity to generate additional revenues and savings of over SR40 billion by harnessing data insights to help guide government decisions. "We have witnessed firsthand the early impact of AI and data-driven initiatives and their potential to propel Saudi Arabia's future economy, but we are still in the early stages with several untapped opportunities available," Dr. Abdullah bin Sharaf Al-Ghamdi, president of the SDAIA, said at a launch event for the authority's new logo. The SDAIA seeks to place the Kingdom among the world's leading economies by adopting AI.