GLOBAL-AI-SUMMIT
The World Bank and Saudi Arabia have announced a long-term partnership to accelerate the use of Artificial Intelligence (AI) in developing nations in support of economic and development goals. The objective is to ensure that no nation is left behind in the race to unlock the value of AI while ensuring the appropriate safeguards are in place to manage the risks associated with AI.
Under the partnership, the World Bank and Saudi Arabia, represented by the Saudi Data and Artificial Intelligence Authority (SDAIA), will cooperate to assist countries in creating policies and initiatives that harness the power of AI to support national development and growth. AI and related technologies are expected to unlock an additional $15tn of economic value worldwide before 2030, but many developing nations do not have yet the technical readiness to share in this new wealth.
The partnership will support target nations to identify gaps in their own readiness and ability to utilize AI and data and develop their own AI policies for innovation and acceleration of AI based on sustainable development goals. As part of this initiative, AI country readiness analysis will be conducted to identify key opportunities and challenges as well as policy options to increase responsible AI diffusion. The initiative will first focus on the African continent given the potential for digital-powered development.
The initiative was announced today by HE Esam bin Abdullah Alwagait, Director of the National Information Center (NIC), and Mr. Makhtar Diop, the World Bank Vice President of Infrastructure, at the Global AI Summit in Riyadh.
HE Dr. Alwagait said: “Through this partnership with the World Bank, Saudi Arabia aims to help all countries of the world to unlock the value of artificial intelligence and to share in the benefits of data-driven decision making to support economic and social growth. Data and AI are at the heart of Saudi Arabia’s Vision 2030, and through the development of our own AI agenda and policies, we have developed skills and resources that we want to share to ensure that all nations are equally prepared to harness the value of AI.”
Makhtar Diop also highlighted that “AI offers significant potential to create new opportunities and solve complex development challenges to end poverty and build prosperity. The technology also comes with risks which, if left unattended, can threaten to inflate the widening AI divide between—and within—developing countries, increasing social inequality and leaving millions, if not billions, even further behind. This initiative aims to help governments harness AI technologies while adopting the appropriate safeguards for ensuring privacy and protection as well as inclusivity and unbiased algorithms.”
The new partnership will build on the on-going work of the World Bank to actively help developing countries increase their readiness on AI opportunities and risks for technological leapfrogging. There is an emphasis on scaling innovative use of responsible AI in various applications for development such in public sector, energy, agriculture, transport, education and health.
About the Global AI Summit
Taking place in Riyadh on 21st and 22nd October 2020, the Global AI Summit connects key decision makers from government, academia, industry and enterprise, technology companies, investors, entrepreneurs and startups, to initiate discussions and collaboration on artificial intelligence, including its applications, impact on social and economic development, and the global challenges and opportunities of AI.
https://www.theglobalaisummit.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20201021005762/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mercator Ocean International Makes AI Ocean Forecasting Operational with GLONET Validated by OceanBench at NeurIPS 202510.12.2025 15:00:00 CET | Press release
New benchmark sets the first science-based quality standard for AI ocean models, enabling GLONET’s operational deployment At NeurIPS 2025, one of the world’s leading AI conferences, Mercator Ocean unveiled OceanBench, the first open benchmark designed to assess AI Ocean forecasting models. This milestone follows the publication of Mercator Ocean’s AI model GLONET in September. Together, OceanBench and GLONET represent a decisive step toward integrating artificial intelligence into operational ocean forecasting, strengthening Europe’s leadership in trustworthy, AI-driven predictions at global scale. Presented by Anass El Aouni, Oceanographer and machine learning (ML) researcher, and Quentin Gaudel, ML Systems Architect, OceanBench establishes a unified standard to evaluate AI models against fundamental ocean dynamics. GLONET is the first forecasting system to be validated through OceanBench for operational use. Anass El Aouni : “OceanBench provides a transparent standard to evaluate AI-
Cleveland Clinic Neurological Institute and Baszucki Group Team Up to Advance Landmark Brain Study with Metabolic Health Markers10.12.2025 15:00:00 CET | Press release
The collaboration seeks to study gut-brain connections in neurological disorders Baszucki Group today announced an expanded commitment to the landmark Cleveland Clinic Brain Study. Launched in 2022, this ambitious longitudinal study plans to follow healthy individuals over a 20-year period with the goal of identifying early disease markers and therapeutic targets needed to prevent and ultimately cure neurological diseases. The commitment from Baszucki Group brings their total donation to the study to $450,000. The commitment was announced at Keep Memory Alive’s annual Summer Festival & Rodeo at Shakespeare Ranch in Glenbrook, Nevada, an event benefiting the Lou Ruvo Center for Brain Health and hosted by Larry and Camille Ruvo, co-founders of Keep Memory Alive. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208681513/en/ Baszucki Group and Cleveland Clinic Neurological Institute expand impact of landmark brain study to inv
CSG Xponent Sweeps Up Top-Tier Analyst, Industry Recognition for Customer Journey Management, Analytics10.12.2025 14:30:00 CET | Press release
Independent evaluations from QKS Group, FinTech Futures and CMP Research validate CSG Xponent as a driver of real-time journey orchestration and analytics CSG® (NASDAQ: CSGS) today announced that its flagship customer engagement platform, CSG Xponent, has earned multiple honors for journey management, customer analytics and personalization. This third-party recognition underscores the strength of CSG Xponent as a full-service engagement platform – one that seamlessly combines in-depth journey analytics with real-time orchestration. In the past month alone, CSG Xponent has been named: A Leader in QKS Group’s SPARK Matrix™: Customer Journey Management, 2025. Winner for “Best Personalisation and User Experience Solution” in the FinTech Futures 2025 Banking Tech Awards. A Core Performing provider in CMP Research’s Prism for Customer Analytics. “CSG Xponent moves beyond broad segmentation to pinpoint each customer’s journey state, whether stalled, at-risk or ready to convert, and then quant
AI Power Surge and Energy Transition Push Global Project Finance into a New Era10.12.2025 14:30:00 CET | Press release
70% of finance professionals expect infrastructure to drive the strongest growth, followed by renewables (48%) and TMT (43%).53% now view private equity as a primary source of equity funding, signaling a major shift in capital dynamics.80% cite KYC requirements as the top execution challenge amid rising deal complexity. Global project finance is entering a transformative era, driven by soaring demand for energy capacity, accelerated digitalization and large-scale infrastructure upgrades, reshaping investment priorities worldwide. These insights come from new research commissioned by CSC, based on responses from 200 project finance professionals, revealing a market shifting toward more complex, capital-intensive projects and a greater reliance on private capital. CSC’s latest report, Project Finance at an Inflection Point: Adapting to New Realities1, reveals a sector that is rapidly expanding in both scale and complexity driven by capital increasingly targeting long-term, strategically
Kingswood Capital Management Enters Into a Definitive Agreement to Acquire Safran Passenger Innovations10.12.2025 14:00:00 CET | Press release
SPI is a leading global provider of in-flight entertainment and connectivity solutions for airlines and airplane manufacturers worldwide Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has entered into a definitive agreement to acquire Safran Passenger Innovations (“SPI” or the “Company”) from Safran, an international high-tech company operating in the aviation, defense, and space markets. SPI is a leading global provider of in-flight entertainment and connectivity solutions for airlines and airplane manufacturers worldwide. Matt Smith will continue to serve as SPI’s CEO, and the entire SPI leadership team will remain in place. The transaction is expected to close early next year, subject to customary legal and regulatory requirements. Headquartered in Brea, California, SPI created and designed an award-winning in-flight entertainment and connectivity platform known as RAVE, recognized for its intuitive design, reliability, and innov
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom