Tech Saudi Arabia backs tech startup sector with $888m Saudi Arabia has announced investments worth $888 million to support the local tech startup and venture capital sector. The funds will support industries such as digital payments, e-gaming and artificial intelligence (AI). The announcement was made on the second day of the Leap international technology conference taking place this week in Riyadh. NewsletterGet the Best […] March 6, 2024
Artificial Intelligence Aramco launches world’s first industrial AI model Saudi Aramco, the world’s largest oil company, has launched a generative artificial intelligence model. The Aramco Metabrain AI, a first for the industrial sector, has 250 billion parameters, or learnable variables, which it adjusts during training to make predictions or generate outputs. It was trained on 7 trillion data points gathered over the company’s 90-year […] March 6, 2024
Artificial Intelligence Saudi wealth fund pitches kingdom as global AI centre The governer of the Saudi sovereign wealth fund, Yasir Al-Rumayyan, expects the kingdom to emerge as a centre for artificial intelligence activities outside the US. “We are fairly well positioned to be an AI hub outside of the US,” Reuters reported, citing the Public Investment Fund governor’s speech at a Miami investment event. The head […] February 23, 2024
Tech US-Saudi venture will use AI to analyse space data A US-Saudi joint venture has been launched in the kingdom to use satellite imagery to monitor infrastructure development, traffic congestion and carbon sequestration, the natural process of CO2 storage in the atmosphere. Front End Limited Company, based in Alkobar, the Eastern Province of Saudi Arabia, and SpaceKnow, a New York technology company dedicated to transforming […] February 20, 2024
Banking & Finance VC firm Shorooq focuses on AI, biotech and gaming Venture capital company Shorooq Partners will target companies specialising in sectors such as artificial intelligence, biotech and gaming, a senior executive told AGBI. Shorooq is based in Abu Dhabi and manages about $350 million in assets and invests in startups in the Middle East and North Africa and beyond. It is focused on on fintech […] February 20, 2024
Cybersecurity Mena cybersecurity spend grows to $3.3bn to fight AI crime Spending on cybersecurity and risk management in the Middle East and North Africa will rise 12 percent in 2024 to $3.3 billion, the research group Gartner is forecasting. The rise in spending is a reaction to the growing use of generative AI to create fake information and fake images for use in cybercrime. Shailendra Upadhyay, […] February 19, 2024
Opinion Retail Gulf retailers are missing a digital trick Consumer behaviour on social platforms has rapidly evolved and companies need to keep up February 13, 2024
Artificial Intelligence Cutting ties with Chinese companies ‘not easy’ says G42 CEO Abu Dhabi artificial intelligence (AI) company G42’s decision to sever ties with Chinese businesses was difficult, CEO Peng Xiao said on Monday. He was speaking at the World Government Summit in Dubai. G42 has accepted constraints imposed on it to work with US companies, he said, citing the need for governments to safeguard the technology. […] February 13, 2024
Health Saudi university developing AI for early diabetes detection King Abdullah University of Science and Technology (Kaust) said this week it is working with Saudi company AmplifAI Health to develop AI technology for use in the early detection of diabetes. Saudi Arabia and the UAE in particular are investing in health technologies that can predict medical risk and help develop medicines, and the kingdom […] January 30, 2024
Opinion Health How tech is reinventing regional healthcare Local governments are leveraging AI to shape the future of medicine January 29, 2024
Opinion Cybersecurity Fighting cybercrime in the age of quantum computing The Middle East must learn to navigate the threats and the opportunities January 25, 2024
Tech Abu Dhabi sets up council to regulate AI Abu Dhabi has established a new artificial intelligence council as part of efforts to regulate the technology and create research opportunities. The Artificial Intelligence and Advanced Technology Council (AIATC) will be responsible for developing and implementing policies and strategies related to AI research, infrastructure and investments and advanced technologies in the emirate, the Abu Dhabi […] January 24, 2024
Tech Mena IT spend expected to reach $184bn this year IT spending in the Middle East and North Africa is projected to increase by four percent in 2024, as companies focus on upgrading software and embracing generative AI. Spending is estimated to reach $183.8 billion, a slight increase from $176.8 billion in 2023, according to US tech company Gartner. The use of generative AI will […] January 24, 2024
Tech Saudi IT company invests $5m in OpenAI The Saudi IT company Al Moammar Information Systems has announced an investment of $5 million in the US artificial intelligence (AI) research company OpenAI. Al Moammar recently established a portfolio to invest in international companies in the field of artificial intelligence. Bloomberg reported in December that in early January OpenAI would complete a tender offer […] January 24, 2024
Tech UAE ransomware attacks decline but payout size grows Ransomware attacks in the UAE have declined significantly but the amount of money being demanded has risen, according to the Gulf state’s Cyber Security Council chief Dr Mohamed Al Kuwaiti. Speaking at Intersec, the security and safety conference in Dubai, Dr Al Kuwaiti did not disclose specific numbers, but cybersecurity company Kaspersky has reported a […] January 19, 2024
Opinion Retail What shoppers want – and how to make sure they get it Generative AI tools and ‘value hacking’ will influence buying decisions this year January 9, 2024
Tech Half of UAE businesses feel at risk from data attacks More than half of UAE businesses still perceive themselves at risk from data security threats, a new report has found. The Data Risk Management 2023 UAE report by Veritas Technologies showed that in the past two years 73 percent of organisations surveyed fell victim to ransomware attacks. That is substantially higher than the global figure […] January 7, 2024
Analysis Tech Reality still beats deepfake technology … for now Technology experts are confident that artificial intelligence-generated deepfakes will not dominate or replace human talent. “It sounds tremendously fake, even when it sounds ‘real’,” Ahmad Haffar, the voice behind Dubai Metro and managing partner at Mindloop Studios, told AGBI. Deepfakes are manipulated videos, images or audio recordings created using AI. They are increasingly commonplace in […] January 7, 2024
Video length: 05:25 Tech Demand for data centres accelerates across Mena Demand is growing for data centres across the Mena region, which is “underserved” according to Hassan Alnaqbi, CEO of Khazna Data Centers. Dubai-based Khazna, which has 14 working centres, 10 to 12 under construction and four more planned, is one of the largest operators in the region. “We have announced our expansion into Egypt. It […] January 3, 2024
Analysis Tech Gulf tech trends to watch in 2024 Technological breakthroughs in 2023 have transformed society and the world economy, but we must always look ahead. These are the cutting-edge discoveries and technologies that will define 2024. Quantum computing Quantum computing – using the principles of quantum mechanics to tackle problems too complex for traditional computers – is set to revolutionise industries. Global tech […] January 2, 2024
Sustainability Abu Dhabi uses drones and AI to reseed desert land Abu Dhabi has begun trials to restore arid desert land in the Al Dhafra region by using drones for aerial reseeding. The pilot is being undertaken by the Environment Agency Abu Dhabi (EAD) and the investment and holding company ADQ, along with a UK-based environmental technology company, Dendra. The companies will use advanced seeding drones […] December 28, 2023
Real Estate Bahrain introduces real estate data service for investors Bahrain’s Real Estate Regulatory Authority has launched an online service providing investors with data on the kingdom’s real estate sector. Aqari Data Bank uses artificial intelligence to give up-to-date information on transaction volumes, property valuations, land classifications and the locations of commercial complexes, healthcare facilities and educational institutions. The subscription-based platform provides interactive maps and […] December 27, 2023
