At the World Economic Forum (WEF) in Davos, Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, highlighted the Kingdom’s efforts to transform traditionally industrial cities into modern smart cities. These efforts are part of the country’s broader vision to diversify its economy and embrace new technologies.
Alkhorayef emphasized that Saudi Arabia is becoming a regional hub for testing cutting-edge technologies like artificial intelligence (AI), machine learning, robotics, and 3D printing. The Kingdom has established key national organizations, such as the Saudi Data and AI Authority and the Future Factories Program, to help businesses adopt these technologies and enhance productivity.
The smart infrastructure market in Saudi Arabia is set to grow significantly, with projections indicating its value could reach $2 trillion in the next decade. Alkhorayef also highlighted Saudi Arabia’s commitment to manufacturing, particularly in renewable energy and electric vehicles. The Kingdom’s ambition to modernize its industrial cities is supported by “plug-and-play” infrastructure that aims to attract global businesses and talent.
One of the flagship initiatives, the Future Factories Program, focuses on helping 4,000 factories embrace automation, improve manufacturing efficiency, and adopt new technologies. Alkhorayef noted that Saudi Arabia is bold in testing new ideas and technologies, making it an attractive destination for both investment and experimentation.
Key Saudi corporations like SABIC, Aramco, and Maaden are already leveraging advanced technologies, including AI, to enhance operations and reduce carbon emissions. Alkhorayef also highlighted the growing role of AI in Saudi Arabia’s deep-tech startups, with many focusing on AI and the Internet of Things (IoT). The Saudi Data and AI Authority, established in 2019, has been integral in promoting the national agenda for a data-driven economy.
Alkhorayef concluded by underscoring the importance of digitalization in various sectors, including mining, energy, and food, and how technology can improve efficiency and environmental sustainability in these industries.
