Arab News, Saturday, Aug 21, 2021 | Muharram 13, 1443
Saudi Arabia’s big data, AI industries to hit nearly $900m by 2026
Saudi Arabia:
Saudi Arabia’s big data and
artificial intelligence (AI) could reach $891.7 million in five years, a new
report showed, as the COVID-19 pandemic accelerated the Kingdom’s technology
ambitions.
The market reached $162.5 million in 2020,
according to Reporterlink.com, and it could grow at an annual rate of 32.6
percent until 2026.
The pandemic, the report said, has led to
innovative solutions that supported Saudi Arabia’s response to the global health
crisis.
These include the Tawakkalna mobile application
that facilitated curfew permits electronically, among others.
The Kingdom is creating an AI-friendly ecosystem,
supporting big data concepts and solutions through its smart city programs such
as NEOM, the report said.
These are all in line with the Saudi Vision 2030,
in which the Kingdom aims to transform its cities into smart ones, utilizing
modern technology and municipal data to achieve its objectives.
In October last year, the Saudi Data and
Artificial Intelligence Authority (SDAIA) and the UN’s International
Telecommunication Union (ITU) signed an agreement to support global AI
cooperation.
Saudi Arabia also pledged to assist the
International Telecommunication Union (ITU) in developing projects, activities,
and initiatives aimed at facilitating greater multi-stakeholder participation,
international cooperation, and knowledge-sharing to accelerate progress toward
the United Nations Sustainable Development Goals (SDGs).
The Kingdom was regarded as a top digital riser
among the G20 countries by the European Center for Digital Competitiveness.
It is expected to be one of the leading countries
in the Middle East in AI and big data market, given an increase in government
backing, as well as a competitive industry with a considerable number of
regional players.