Saudi Crown Prince launches "Huwayn" company to enhance artificial intelligence in the Kingdom.

In a new step aimed at enhancing Saudi Arabia's position in the field of artificial intelligence globally, Saudi Crown Prince and Prime Minister, Prince Mohammed bin Salman, announced the launch of "Huomayn," a company owned by the Public Investment Fund. The company aims to develop and manage artificial intelligence solutions and technologies, focusing on investing in this advanced sector. Prince Mohammed bin Salman heads the board of "Huomayn," and the company plans to offer the latest applications and models in the field of artificial intelligence, including developing a large language model (LLM) in Arabic, as well as developing the next generation of data centers and cloud computing infrastructure. "Huomayn" aspires to effectively contribute to enhancing national, regional, and international capabilities in this field, opening up new horizons in the digital economy. This strategic move supports the national strategy for data and artificial intelligence set by the Kingdom, aiming to be among the top 15 countries globally in this field by 2030. Saudi Arabia has demonstrated its strength in this direction, recently topping the Global Artificial Intelligence Index for 2024, reflecting its significant commitment to achieving these goals. Part of the strategy includes attracting funding for distinguished investment opportunities in the artificial intelligence sector, amounting to approximately 75 billion riyals, in addition to supporting entrepreneurship and creating over 300 startups in this field. "Huomayn" will be a key center in developing and coordinating various initiatives related to data centers and devices, accelerating the adoption of artificial intelligence technologies in a variety of strategic sectors such as energy, healthcare, industry, and financial services. Its role will also include enhancing local innovation while safeguarding intellectual property, realizing the Kingdom's vision to become a global hub for artificial intelligence, attracting investments and talent from within and outside the Kingdom. Through this project, the Public Investment Fund under the leadership of the Crown Prince continues to enhance the Kingdom's global competitiveness in the artificial intelligence sector, taking an additional step towards achieving the development and economic diversification goals that serve Vision 2030.