RIYADH: The Cultural Development Fund has launched the Nama’ Incentives program and its first initiative, “AI Incentives for Cultural Projects.”
The initiative offers micro, small and medium-sized enterprises financial incentives of up to SR500,000 ($133,000) to encourage the adoption or development of artificial intelligence technologies to support projects across the cultural sector.
The Nama’ program, established in partnership with the Quality of Life Program, a key component of Saudi Vision 2030, the Ministry of Culture and the Saudi Data and AI Authority, aims to help businesses in the cultural sector harness the power of AI to develop innovative products and services, while strengthening the ability of the sector to grow, compete, and generate lasting economic and social value.
It targets six core areas: creativity and production; heritage and asset preservation; content and knowledge development; cultural experiences and engagement; cultural project management and operations; and governance and intellectual property. Through these, it seeks to spur innovative solutions across the cultural value chain and accelerate the digital transformation.
The launch of the program on Monday coincides with Saudi Arabia’s “Year of AI,” and builds on an agreement between the Ministry of Culture, the Cultural Development Fund and SDAIA that aims to accelerate the adoption of advanced technologies, foster innovation, improve operational efficiency and competitiveness, and drive the development of cultural products and services to meet future demands.
Majed Al-Hugail, CEO of the Cultural Development Fund, described the incentives as part of a broader strategic push to equip the sector with the kinds of advanced technologies that can drive innovation and growth.
“The potential of AI to unlock new avenues for investment and entrepreneurship in the cultural sector (is immense), while increasing its contribution to the creative economy in line with the objectives of Saudi Vision 2030,” he said.
Khalid Albaker, CEO of the Quality of Life Program, told Arab News the introduction of the incentives marks a significant step in the transformation of the Kingdom’s cultural sector, which he described as one of the most promising sectors in terms of its contributions to quality of life and support for the objectives of Saudi Vision 2030.
“Integrating AI into cultural projects can help turn culture into a more productive economic sector by enabling small and medium-sized businesses to develop innovative cultural products, services and experiences,” he said.
“This will strengthen the presence of national cultural content while opening new opportunities for investment and entrepreneurship in the creative economy.”
The collaboration between the partners in the program seeks to strengthen the sustainability of the sector and maximize its economic and social impact, he added, with the ultimate aim of improving the quality of life for residents and advancing the objectives of Vision 2030.
The Cultural Development Fund said the Nama’ program reflects its broader role as a center of excellence and financial enabler for the sector, in support of sustainable growth and efforts to maximize the contribution of culture to the creative economy, in line with the objectives of the National Culture Strategy and Vision 2030.
