RIYADH: Advanced technology from the Fourth Industrial Revolution (4IR) is expected to generate around 1 trillion riyals for the Saudi economy in new revenue streams, a senior minister said today.
The Kingdom will enjoy economic boosts from robotics, artificial intelligence, and wireless production models as it pushes for more smarter cities and infrastructure.
In his opening remarks of the Saudi 4IR conference, Minister of Communications and Information Technology Abdullah Alsawaha said that Saudi cities must keep pace with technological developments.
He told an audience at the two-day conference, being held at King Abdullah City for Science and Technology, that the Kingdom is building the most technologically advanced infrastructure in the new NEOM giga-project, which will be a global technology center.
The impact of the 4IR is expected to be massive, with non-oil gross domestic product anticipated to increase by more than 4 percent from 2017 to 2030, generating 1 trillion riyals in new revenues, Abdullah Alghamdi, the president of Saudi Data and Artificial Intelligence Authority (SDAIA) said in his opening remarks.
He added that SDAIA is working on developing customized platforms for each city to accommodate their specific needs.
Saudi Arabia has invested heavily in digitizing its cities, with 60 percent of the Kingdom’s urban centers covered by 5G networks, said Haytham Alohali, vice minister of communications and information technology.