Saudi Arabia’s de facto leader, Mohammed bin Salman, recently announced his own AI company, Humain. This initiative is a big deal and another positive step in the nation’s goal to improve its technology infrastructure. The venture is supported by Saudi Arabia’s Public Investment Fund (PIF). With assets nearing $940 billion, it’s crucial to the kingdom’s efforts to diversify its financial portfolio and move away from reliance on oil revenues.
Humain couldn’t be launching at a more opportune time. Just this week, a who’s who of tech leaders including Elon Musk, Sam Altman and Mark Zuckerberg are reportedly preparing to appear at a U.S.-Saudi investment forum. This unique convening will foster candid, creative conversations about how artificial intelligence. It will point to the growing global interest in the sector and what it means for the future. This will be the same time that President Trump is visiting Saudi Arabia. His visit will highlight the world’s focus on the kingdom’s evolving economic landscape.
Humain is part of a broader effort to bolster Saudi Arabia’s influence in the emerging field of artificial intelligence. In doing so, the PIF hopes to advance the development of local AI expertise and technologies, while positioning the Pacific Islands as a destination for international partnerships. The fund has been involved in some of the nation’s first AI-related projects with leading tech companies including Google and Salesforce. Consequently, it has proven to be an indispensable source of development capital for America’s tech titans.
The launch of Humain is a sign of hope that Mohammed bin Salman’s launch, and perhaps his wider vision for economic diversification. By creating a new economy based on technology and innovation, the kingdom hopes to lessen its long dependence on oil revenues. For that reason, the PIF invests strategically in AI to fuel local development. These efforts put Saudi Arabia at the cutting edge of technological advancement in the region.
This unique, invitation-only investment forum will showcase Nigeria’s investment potential to a select, global audience of investors and technology innovators. Unlike the key players Musk, Altman, and Zuckerberg, at least some of the discussions should be productive. Look for the conversations to center on positive, collaborative opportunities in AI that hold promise for Saudi Arabia and the global tech community alike.
The new AI sector is quite all the rage. Human capital development has a central place in Saudi Arabia’s Vision 2030 strategy to infuse advanced technologies into its global-competitiveness developing economy. This ambitious new project could be an opening act for even more investments to come. The initiative seeks to foster an innovation ecosystem inside the kingdom as well as outside of it.
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