The LEAP 2024 conference, held from March 22-24 in Riyadh with over 170,000 attendees, concluded with significant advancements and announcements in the Saudi tech industry, marked by agreements totaling over $12 billion. The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheaded several key partnerships and agreements focused on AI research, localization of digital technologies, and enhancing national capabilities in AI through educational programs.
Members of the U.S.-Saudi Business Council (USSBC) seized the opportunity to invest in Saudi Arabia’s digital transformation, including Chairman’s Circle members Aramco, Amazon, and Zoom. At the conference, Zoom announced it has expanded its continued commitment to the Kingdom of Saudi Arabia with the news that Zoom AI Companion will be available for customers in the Kingdom by the end of July 2024, Zoom Phone will be available by October 2024, and Zoom Contact Center will be available by the end of 2024. In addition, Zoom will add two more cloud regions in the country in 2024, the first of which came online at the end of March 2024.
“We are grateful for our deep, longstanding relationship with the Government, business community, and people of the Kingdom,” said Aparna Bawa, COO of Zoom. “We recognize the unique opportunity to be part of the bold agenda for social, economic, environmental, and digital transformation reflected in the Vision 2030 program.”
Amazon, another prominent USSBC member, announced the launch of a new infrastructure region in Saudi Arabia, allowing developers, startups, entrepreneurs, and enterprises across a wide range of industries more options and better service when running applications and serving end users from Amazon Web Services (AWS) data centers. As part of this infrastructure region, Amazon will invest $5.3 billion, including into two new innovation centers and training programs such as the “AWS Saudi Arabia Women’s Skills Initiative” which will train up to 4,000 women on AWS Cloud Practitioner Essentials.
Meanwhile, Aramco’s technology arm, Aramco Digital, announced partnerships with a mix of U.S. and Saudi companies, including with U.S.-based Groq, a global leader in the artificial intelligence chip market, to establish the world’s largest AI computer center in the Kingdom. Aramco also penned deals or MoUs with IBM, Intel, and other major tech industry leaders.
In addition, U.S. tech giants such as Microsoft, Adobe, UiPath and HP Inc., announced major partnership or expansion plans to the Kingdom. Microsoft, for instance, plans to launch a Center of Excellence offering a wide range of globally recognized, industry-endorsed, and role-based skilling tracks to boost the digital skills of the Saudi workforce. Adobe announced that it will open its regional headquarters in Riyadh by early 2025, a major move that furthers Saudi Arabia’s progress toward becoming a regional hub for digital innovation.
The Saudi economy offers new and exciting opportunities to U.S. companies across all aspects of the digital/tech sector, including AI/machine learning, IoT, fintech, cybersecurity, cloud computing, big data, robotics, automation, video games, smart cities, biotech, software development, and more. Contact the USSBC to learn about how you can access these opportunities in the rapidly growing and diversifying Saudi economy.
