According to the Saudi Press Agency, Saudi Crown Prince Mohammed bin Salman announced Monday the opening of "HUMAIN," a new artificial intelligence business controlled by the Public Investment Fund (PIF). The company's goal is to invest in the larger AI ecosystem while creating and overseeing AI technology and solutions.
Under the direction of the Crown Prince, HUMAIN will provide cutting-edge AI models and applications, such as the creation of one of the top large Arabic language models (LLMs) in the world. The corporation will also build cloud computing infrastructure and next-generation data centres to support its AI services.
Years of Strategic Investment
HUMAIN's introduction is a component of a larger strategy that has been in place for several years as part of Vision 2030. Saudi Arabia has already made a $3 billion investment in AI infrastructure to take the lead in the field, and it intends to increase this amount considerably by committing $100 billion to workforce training, startups, and AI infrastructure.
This trend of rising AI investment is consistent with estimates that the technology may boost Saudi Arabia's economy by $135.2 billion by 2030, or 12.4% of its GDP 3. The foundation of HUMAIN, which comes after the Saudi Data and Artificial Intelligence Authority, shows a continuous strategy for centralizing and expediting the development of AI.
These collective efforts are externally validated by Saudi Arabia's top rating in government AI strategy on the 2024 Global AI Index, which demonstrates the Kingdom's systematic approach to developing AI capabilities.
Global AI Leadership
HUMAIN hopes to open up new doors in the digital economy by enhancing local, regional, and international capacities for creating and delivering AI solutions. PIF and a number of its portfolio firms are collaborating internationally and making strategic investments to grow Saudi Arabia's AI ecosystem.
The Kingdom is perfectly situated for large-scale data networking and processing because it connects three continents. Saudi Arabia's young, tech-savvy populace and expanding economy provide additional support for initiatives to boost local AI innovation, research, and expertise.
PIF's AI strategy is to establish Saudi Arabia as an international participant in the industry, keeping with the Kingdom's overall goals of promoting economic growth and development. According to the 2024 Global AI Index, Saudi Arabia just topped the world in terms of government AI policy.
Sector-Wide AI Deployment
HUMAIN will help firms implement AI technology while managing and advancing a number of efforts related to data centres and AI hardware. The business intends to provide comprehensive digital economy solutions in important industries like manufacturing, financial services, healthcare, and energy.
HUMAIN also seeks to support Saudi Arabia's goals of becoming a global center for AI and data technologies by encouraging local innovation while protecting intellectual property. The company wants to attract top talent and investment from the Kingdom and other countries.