LEAP 24: Major Companies to Invest in KSA
Minister of Communications and Information Technology Abdullah Alswaha revealed that the tech conference “LEAP 24” will witness technological investments estimated at $11.9 billion. These investments are largest of its kind in the region, supported by the Crown Prince and Prime Minister, Prince Mohammed bin Salman, reported Almnatiq.
Dell, IBM
During LEAP 24, DELL announced its plans to open a manufacturing and distribution center in Saudi Arabia. It is considered the first in the Middle East.
IBM announced that it will launch its first software development center in the region in Saudi Arabia.
Generative AI Model
Moreover, Aramco has set a new benchmark by launching the first generative AI model in the industrial sector. The AI model is expected to revolutionize industrial processes.
It could enhance efficiency, reduce costs, and drive innovation. Aramco’s initiative not only positions it as a pioneer in AI but also highlights the potential of AI in transforming traditional industries.
Amazon
During the LEAP24 conference, Amazon revealed its plan to invest $5.3 billion to establish a high-capacity cloud region in KSA. This investment highlights Saudi Arabia’s rising status as a global tech hub and its appeal for innovation and development.
Amazon’s investment will boost Saudi Arabia’s tech infrastructure, offering advanced cloud services to businesses, governments, and consumers.
LEAP 2024
The third edition of LEAP started on March 4 and will continue till March 7, 2024. It will take part at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh, under the slogan “New Horizons.” LEAP is an annual tech event founded in 2022 and organized by Saudi Arabia’s Ministry of Communications and Information Technology (MCIT).
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