Riyadh — Saudi Arabia’s private sector is set to benefit from enhanced AI innovation and data capabilities following a new memorandum of understanding (MoU) between the Saudi Data and Artificial Intelligence Authority (SDAIA) and the Private Sector Partnership Reinforcement Program, Shareek. The agreement aims to accelerate digital transformation across key industries through comprehensive market studies, technical consultations, and development of AI-aligned business models.
Under the MoU, both parties will collaborate to identify, prioritize, and share investment opportunities with private sector entities participating in Shareek, reinforcing the Kingdom’s Vision 2030 strategy. This strategy targets generating $135.2 billion in economic value from AI by 2030 and increasing the private sector’s GDP contribution to 65%, shifting the economy toward technology-driven diversification.
Shareek, launched in 2021, is a flagship public-private partnership program focused on unlocking SR5 trillion ($1.33 trillion) in investments by 2030, supporting large Saudi firms in scaling growth and economic development. The collaboration with SDAIA strengthens its role in driving large-scale digital transformation.
This agreement follows SDAIA’s recent MoU with Advanced Micro Devices (AMD) during the Saudi-US Investment Forum, aimed at developing specialized AI data centers powered by AMD technologies, further bolstering Saudi Arabia’s digital infrastructure.
Saudi Arabia’s commitment to AI is reflected in its ranking as third globally in the OECD AI Policy Observatory as of December, trailing only the US and UK.
