ECONOMY
The kingdom has reasons to be cheerful about its economy despite the oil sector hitting the brakes, as other macro fundamentals remain strong.
Find out moreHave questions about SAB banking services? Let us help you with these frequently asked questions.
FAQSOur friendly Customer Support team are on hand to help with any queries you have. We're here to help!
Contact UsQuick Links
February 2024
The kingdom has reasons to be cheerful about its economy despite the oil sector hitting the brakes, as other macro fundamentals remain strong.
Find out moreSaudi and its partners are investing heavily in advancing initiatives that will help meet their sustainable development goals.
Find out moreOil will continue to occupy a dominant spot in the global energy mix, at least in the foreseeable future, as post-pandemic recovery influences consumption trends.
Find out moreOngoing developments are reshaping the tourism landscape, putting nature first and highlighting the kingdom’s unique ecosystem.
Find out moreThrough funding and training programmes, authorities have created a fertile ground for start-ups and entrepreneurs to thrive in the kingdom.
Find out more
IN THIS EDITION
The kingdom is set to propel its digital transformation forward with the establishment of an artificial intelligence (AI) academy in collaboration with the Saudi Data and Artificial Intelligence Authority (SDAIA) and AI tech giant Nvidia.
The Industrial Artificial Intelligence Academy underscores the critical need to cultivate qualified national talents, enabling them to compete globally and achieve ambitious objectives. The academy aims to empower a new generation proficient in leveraging industrial AI to revolutionise smart spaces and operations. Additionally, it seeks to foster partnerships with leading technical entities to drive the development of advanced technologies, thereby significantly advancing industrial AI in Saudi Arabia.
The initiative reflects the kingdom's aspirations to play an active role on the globalstage and harness AI for the improvement of humanity. The academy's inauguration is part of SDAIA's ongoing efforts as the national authority for data and AL, highlighting the importance of nurturing skilled national talents and enhancing global competitiveness through the integration of AI in smart cities. Ultimately, the initiative aims to position the kingdom as a global leader in cutting-edge technologies and AI-related advancements.
The strategic partnership with Nvidia will support and strengthen the region's digital economy, with a particular focus on Saudi Arabia, which is recognised as the largest market for technical innovation in the Middle East and North Africa (MENA) region. The two parties have also explored the potential of generative AI in supporting digital transformation and investment opportunities, including fostering innovation in deep technologies and maximising the social and economic benefits of implementing generative AI techniques in the digital sector.
An International Center for AI Research and Ethics (ICAIRE) is also being established in Riyadh, along with UNESCO’s approval of it as an international Category 2 centre. The vision includes positioning the kingdom as a leader in ethical AI globally by providing support for research and development in the field of AI, increasing awareness of the ethics of AI, providing advisory support in AI policies, and supporting capacity-building in AI.
The initiatives are part of Saudi Arabia's efforts to become a top Al tech hub in the region and beyond.
DISCLAIMER
You are about to leave this site. You are being redirected to an external site. Would you like to leave this site?
© SAB, Saudi Arabia. All Rights Reserved, 2024
Saudi Awwal Bank, a listed joint stock company, incorporated in the Kingdom of Saudi Arabia, with paid in capital of SAR 20,547,945,220, commercial registration certificate 1010025779, unified number 7000018668, Mailing Address: P.O. Box 9084, Riyadh 11413. National Address: 7383 King Fahad Branch Rd, 2338 Al Yasmeen Dist., 13325 Riyadh, Kingdom of Saudi Arabia, Tel. +966 11 4050677, www.sab.com, licensed pursuant to the Council of Ministers Resolution No. 198 dated 06/02/1398H and Royal Decree No. M/4 dated 12/08/1398H, and regulated and supervised by the Saudi Central Bank.