Saudi Company for Artificial Intelligence launches operations

The Saudi Company for Artificial Intelligence (SCAI), a company wholly owned by Saudi-based sovereign wealth fund, Public Investment Fund (PIF), is launching operations to grow and develop artificial intelligence (AI) and emerging technologies industries in Saudi Arabia.

The company will focus on delivering end-to-end cutting-edge solutions across various disciplines in AI.  These will apply to a wide range of use cases for both business and consumers in prioritised sectors for the kingdom such as energy and healthcare.

SCAI chairman, H.E. Dr Abdullah bin Sharaf Alghamdi, said, “As PIF’s arm in the AI and emerging technologies sector, the company will develop local capability, cutting edge technology and strategic partnerships to support  creating  Saudi-owned solutions in the AI ecosystem in line with Vision 2030 objectives of diversifying and growing the economy and improving the quality of life for Saudi citizens.”

Ayman AlRashid, CEO of SCAI, added that the company will be a key enabler to promote the national AI objectives and accelerate technological adoption across various sectors in the kingdom. “The world is embracing the era of data and information, and AI is rapidly changing the way we live. It is critical for Saudi Arabia to invest in the foundations of the sector to unlock long term sustainable value for all stakeholders in the kingdom and beyond,” he added.