DeepFest 2024 highlights Saudi Arabia’s emergence as global tech hub

Saudi Arabia has been making significant strides positioning itself as a powerhouse in the global technology landscape in recent years.

And with initiatives such as DeepFest 2024, the Kingdom is not only showcasing its commitment to innovation but also attracting attention as a destination for tech enthusiasts, investors, and multinational corporations alike.

DeepFest, the region’s premier artificial intelligence (AI) event, is set to return to Riyadh from March 4 – 7, 2024. With over 20,000 attendees and 150 speakers participating, the event promises to delve into all aspects of AI, highlighting the cutting-edge developments and applications reshaping industries worldwide. This year’s edition follows the success of the inaugural DeepFest held last year, which garnered attention globally and solidified Riyadh’s status as a tech hub.

Saudi Arabia’s burgeoning ICT market, valued at over $40.9bn and constituting 4.1 per cent of the Kingdom’s GDP (according to the US International Trade Administration), reflects its rapid transformation into a technology service and cloud hub. Positioned strategically with access to international connectivity through the Red Sea and the Gulf, Saudi Arabia aims to serve markets across Europe, Asia, and Africa, further bolstering its standing in the global tech ecosystem.

At the heart of Saudi Arabia’s technological renaissance lies Vision 2030, a comprehensive blueprint for economic and social reform. The government’s commitment to investing in research, development, and innovation, with a projected increase of $16bn in GDP by the end of the decade, underscores its determination to propel the nation towards a more technologically advanced future.

Infrastructure projects such as the Saudi Vision Cable, the first high-capacity submarine cable in the Red Sea, highlight Saudi Arabia’s commitment to enhancing digital connectivity and facilitating international communication. This infrastructure backbone not only supports local enterprises but has also attracted global tech giants such as Alibaba Cloud, which recently established a presence in Riyadh to deliver high-capacity cloud services and bolster cybersecurity standards across the MENA region. Late last year, Google also opened its first cloud region in Saudi Arabia.

In telecommunications, companies like the Saudi Telecommunications Company group (stc Group) have been pivotal in driving Saudi Arabia’s digital transformation. Through initiatives like the Saudi Vision Cable and the establishment of Center3 Company, stc Group is laying the groundwork for enhanced connectivity and international communication, positioning Saudi Arabia as a key player in the digital economy.

The convergence of events like DeepFest and LEAP, among the world’s most attended tech events, underscores Riyadh’s emergence as a dynamic tech hub.

And as Saudi Arabia continues to chart its course towards technological excellence, partnerships, investments, and a forward-thinking mindset remain integral to its success. With a commitment to innovation and a vision for the future, Saudi Arabia is poised to redefine the global tech landscape and shape the digital economy for years to come.