Investment in reskilling will create new jobs as AI takes over, Global AI Summit hears 

Investment in reskilling will create new jobs as AI takes over, Global AI Summit hears 
CEO of Saudi Telecom Group, Nasser Sulaiman Al-Nasser, discusses the potential of AI at the Global AI Summit in Riyadh. (Screen grab)
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Updated 22 October 2020

Investment in reskilling will create new jobs as AI takes over, Global AI Summit hears 

Investment in reskilling will create new jobs as AI takes over, Global AI Summit hears 
  • AI is expected to displace 73 million jobs globally by 2022
  • AI could also create 130 million new jobs that require new skills

DUBAI: Investing in reskilling workers will help create new jobs as Artificial Intelligence takes over, The Global AI Summit “AI for the Good of Humanity” in Riyadh heard on Thursday. 
CEO of Saudi Telecom Group, Nasser Sulaiman Al-Nasser, believes that although AI is expected to displace 73 million jobs globally by 2022, with investment of reskilling employees, it could create 130 million jobs. 
“Our government (Saudi Arabia) is prioritizing and investing in education,” Nasser said, explaining that this is an important part of reskilling individuals in preparation for the use of AI in industries. 
Nasser told an audience at the summit that AI will replace tedious jobs but in turn, will create new jobs that require new skills. 
“We have to look at AI from two perspectives; from the enablement part and from the potential (it has),” he said, explaining that it is more than just a technology, but rather an eco-system. 
One of the pillars of the AI ecosystem, Nasser said, is partnerships with tech providers and industries. 
Digital Transformation Adviser, Anett Numa, said during the summit that the public sector and the government need to be leading in the development of AI with the help of academia and the private sector for efficient results.


Israel expects $220 million in non-defense trade with Bahrain in 2021

Updated 02 December 2020

Israel expects $220 million in non-defense trade with Bahrain in 2021

Israel expects $220 million in non-defense trade with Bahrain in 2021
  • The Economy Ministry trade forecast anticipated growth in Israeli exports to Bahrain of diamonds and refined metals for chemicals
  • It also anticipated growth in imports of oil and aluminium from Bahrain

JERUSALEM: Israel foresees $220 million in non-defense trade with Bahrain in 2021, the Economy Ministry said on Wednesday as it hosted a delegation from the Gulf state to cement newly established ties.
Bahrain and neighbor the United Arab Emirates normalized relations with Israel on Sept. 15, a US-brokered pact motivated by business prospects as well as shared worries about Iran.
Meeting Israeli Prime Minister Benjamin Netanyahu in Jerusalem, Bahrain’s minister for industry, commerce and tourism, Zayed bin Rashid Al-Zayani, said he saw an “immense opportunity to even develop (ties) further, not just in terms of business — in terms of culture, sport, exchange, tourism.”
The Economy Ministry trade forecast anticipated growth in Israeli exports to Bahrain of diamonds and refined metals for chemicals, and of imports of oil and aluminium from Bahrain.