Tech Giants like Amazon and Google are rushing to Saudi Arabia to shape the future of AI – Latest Technology Updates

Tech executives and entrepreneurs flock to Saudi Arabia as the kingdom aims to boost its tech industry with billions of dollars in investments. Last month, a massive conference in the desert outside Riyadh caused a three-hour traffic jam, with frustrated attendees resorting to driving on the highway shoulder to avoid the congestion.

Amazon’s cloud computing division announced a $5.3 billion investment in data centers and AI technology in Saudi Arabia, while IBM’s CEO highlighted a “lifetime friendship” with the kingdom. Executives from Huawei and other firms discussed the potential for Saudi Arabia to lead in AI and IoT sectors, resulting in over $10 billion in deals during the event.

Reports indicate that Saudi Arabia has already invested $100 billion in technology this year, with Silicon Valley investors expected to add another $40 billion. The kingdom’s ambitious tech plans are part of Crown Prince Mohammed bin Salman’s “Vision 2030” blueprint, which aims to diversify the economy away from oil.

In a bid to attract tech entrepreneurs, Saudi officials announced a $1 billion funding for an AI startup accelerator, offering grants and investments to startups willing to spend time in Riyadh. With access to computing power from Amazon and Google, young tech entrepreneurs are enticed to contribute to Saudi Arabia’s tech ambitions.

As tech giants and startups alike flock to Saudi Arabia, the kingdom’s vision for a tech-driven future seems closer to reality. Will Saudi Arabia lead the tech world? Only time will tell as the kingdom continues to invest in its tech ecosystem.