Saudi Crown Prince: The Kingdom Will Be a Global Center for Artificial Intelligence

Crown Prince Mohammed bin Salman announced that the Kingdom of Saudi Arabia is heading to become a leading global center in the field of artificial intelligence in the coming years, during his speech at the opening of the Shura Council's sessions on Wednesday, September 10.

The Crown Prince directed in his speech towards the Kingdom's future vision that translates the results of the ambitious vision, revealing the achievement of major economic indicators, most notably the GDP exceeding 4.5 trillion Saudi riyals, explaining that "56% of this output was achieved through non-oil activities".

Bin Salman emphasized that building a strong and diversified economy is a fundamental pillar, stating: "Having a strong public finance that does not rely on a single volatile source of revenue is a necessity and a basic requirement for development and economic diversification." He also added: "We continue to assess the economic and social impact of public spending to ensure that resources are directed towards national priorities."

Regarding the labor market, the Crown Prince pointed to qualitative achievements as the unemployment rate has dropped to its lowest level in the Kingdom's history, while women's employment has reached its highest level ever.

Bin Salman addressed housing policies, noting that "property prices in some areas have reached unacceptable levels... and we have put policies in place to address that."

In conclusion of his speech, the prince praised the efforts of the public and private sectors, stating: "The previous phase demonstrated the ability of the public and private sectors in the Kingdom to quickly adapt to face challenges." He affirmed that "the Saudi government will not hesitate to amend or cancel any program or targets in the interest of the public good."