PIF & Google to Launch AI Hub in Riyadh to Boost GDP By USD 71 Billion

The Public Investment Fund (PIF) of Saudi Arabia has joined forces with Google Cloud to create a new global artificial intelligence hub near Dammam in the Eastern Province. Announced during the Future Investment Initiative (FII8), this partnership positions Saudi Arabia as a hub for AI innovation, targeting both local and international enterprises and startups.

The AI hub aims to enhance the workforce by implementing programs for millions of students and professionals, aligning with the goal of increasing the information and communication technology sector by 50%. Customers will benefit from Google Cloud's advanced technology, driving growth across various industries while improving access to AI applications.

Pending regulatory approvals, the collaboration will focus on joint research initiatives for Arabic language models and AI applications tailored for the Saudi market. Google Cloud's investment will include custom silicon and the Vertex AI platform for generative AI applications.

Research from Access Partnership estimates the AI hub could contributeUSD 71 billion to Saudi Arabia's GDP over eight years, generating thousands of skilled jobs as the economy embraces AI technologies. This initiative builds upon Google Cloud's existing presence in the region, enhancing its global network and cloud offerings.