Riyadh – Sharikat Mubasher: The Saudi Company for Artificial Intelligence (SCAI), fully owned by PIF, is leading the way to building a world-class technology ecosystem, paving the path to achieving AI-driven economic growth.

Accordingly, the AI sector is expected to significantly contribute to the Kingdom’s GDP in the coming years as said by George Nazi, CEO of SCAI in an interview with Asharq Al-Awsat.

SCAI was founded in 2021 to contribute to positioning KSA as a global AI leader by offering innovative transformational solutions, aiming to enable the ecosystem to shape the future of AI through best-in-class partnerships, targeted investments, and strategic capabilities addressing market gaps globally.

In light of the crucial changes brought about by the AI revolution, Nazi emphasized that the local economy will witness key preparations to keep up with transformations, supported by efforts from various entities, including SCAI.

The company’s investments are focused on developing tech talents, supporting AI initiatives in small and medium-sized enterprises, and ensuring the seamless integration of these technologies.

Notably, AI is expected to contribute 12% of Saudi Arabia's GDP by 2030, with the sector growing at a compound annual growth rate of 29%, according to the Saudi Data and Artificial Intelligence Authority’s ‘State of AI’ report.