https://arab.news/ce8cq RIYADH: Artificial intelligence will help Saudi Arabia to achieve its ambitious goals for growth, while reducing its reliance on other targets, according to a top executive. Jad Haddad, partner and global head of consultancy Oliver Wyman’s AI division Quotient, spoke to Arab News recently about how technological advances are reshaping the workforce. “Today, there is a shortage of labor, particularly in Saudi Arabia,” he said. “If the Kingdom’s going to reach its very ambitious targets of growth, in a way AI and the embracement of AI will basically help achieving those very aggressive, but also achievable, as we’ve seen, targets, with less dependency on others.” Saudi workplaces are already well advanced in using generative AI tools, such as text generator Chat GPT, with 68 percent of employees surveyed by Oliver Wyman making use of the technology compared with a global average of 55 percent. Haddad noted how another survey found that more than 90 percent of CEOs at New York Stock Exchange-listed companies also invest heavily in AI and believe in its promise. “But yet we haven’t seen a lot of disruption to jobs.” He added: “Will we see disruption in the job market? Probably. I think AI already is augmenting a lot of the things that we do, and as we have applications that are implemented and scaled within organizations, things are going to change. “But at the same time, we can look at it from the other way around. I think it is already creating a lot of jobs as well.” The forward-looking Gulf is a leader in the adoption of AI technologies, according Haddad, who highlighted the fact that some of the region’s biggest companies are employing the technology. National oil companies such as Aramco and ADNOC “are really taking up AI, and that’s also great because they are a big part of the society but also of the economy,” he said. “I think the region is really embracing AI, much faster than any other region, and is really seeing the benefit and the promise of AI.” Saudi Arabia’s early focus on the new technology was evidenced when the Kingdom founded its government AI agency SDAIA in 2019. The entity employs around 3,000 people, and is focused on establishing governance related to AI, and positioning the country as a leader in the field. A November report from SDAIA highlighted Saudi Arabia’s global leadership in AI, as evidenced by its top ranking in the pillar of government strategy in the 2023 Global AI Index by Tortoise Media. In 2023, the Kingdom joined the UN AI Advisory Body, aiming to promote the responsible use of AI. Government spending on technologies, including AI, grew at a compound annual growth rate of 59 percent between 2019 and 2023, according to the Saudi Press Agency. In September 2024, at the third edition of SDAIA’s Global AI Summit, the authority unveiled the AI Adoption Framework Document, providing a guiding reference for adopting AI in the public and private sectors. SDAIA also recently announced the activation of AI offices in 23 government entities.Similarly, the stock market plays a crucial role in mobilizing capital, facilitating business expansion, and determining the overall health of the economy. Fluctuations in stock prices can impact investor confidence, corporate valuations, and consumer sentiment. Therefore, ensuring the stability of the stock market is essential for fostering a conducive investment environment and promoting long-term economic development.Eric Trump, the second son of former President Donald Trump, recently made headlines with his bold statement that modern banking is outdated and the United States must lead the way in embracing the cryptocurrency revolution. In a time when digital currencies like Bitcoin and Ethereum are gaining more mainstream acceptance, Eric Trump's call for a clear regulatory roadmap signals a shift in the traditional financial landscape.
On the other hand, critics warn that removing terrorist designations of certain SDF-affiliated groups could further strain relations with Turkey and destabilize the fragile balance of power in the region. Turkey, a key NATO ally, has expressed strong opposition to any US support for the YPG, viewing it as a threat to its national security. By aligning more closely with the SDF, the US risks alienating Turkey and escalating tensions in an already volatile region.1. Electric Vehicles (EVs)
In the harsh winter of the southern region, where temperatures plummeted to a bone-chilling -20 degrees Celsius, a heartwarming story unfolded involving a group of small potatoes. These potatoes, known for their resilience and adaptability, were faced with a challenge that tested their endurance and spirit.
The Prime Minister said the season was a time to remember the importance of “being there for one another”, including in “the more difficult times”. He also expressed hope for “peace, particularly in the Middle East as the birthplace of the Christmas story” amid spiralling conflict across the region. The message comes after a challenging first five months in office for the Labour Government and against the backdrop of a flatlining economy and rising inflation. Sir Keir said: “This Christmas, people will be travelling up and down the country. Heading home, visiting relatives and loved ones to celebrate together the hope and joy of this special season. “It’s a time to remind ourselves what’s really important. Family. Friendship. And fellowship between all people. “Being there for one another – in these celebrations, as well as the more difficult times.” To our military and veterans, the whole nation thanks you for the sacrifices you make to keep us safe. My government will serve you as you have served your country. I wish you and your families a very happy Christmas and a peaceful New Year. pic.twitter.com/LphMZog6np — Keir Starmer (@Keir_Starmer) December 22, 2024 The Prime Minister sought to strike an optimistic note following another year of political upheaval for Britain, which saw Labour win a landslide victory after a surprise election called by Rishi Sunak in the summer. After taking office in July, the new Government made a series of unpopular decisions as ministers confronted the realities of creaking public services and strained national finances. As well as dealing with the economic inheritance, Sir Keir said he needed to fix a “broken society” which manifested itself in summer riots across the country after the Southport knife attack. Sir Keir said: “This Christmas, I will be hoping for peace, particularly in the Middle East as the birthplace of the Christmas story. “I’ll be looking towards a better, brighter future for every person and celebrating the joy and wonder that Christmas brings. “So, from my family to yours, I hope you have a very merry Christmas.” The message comes after revised official figures released on Monday indicated that UK gross domestic product (GDP) showed no growth between July and September. Downing Street defended the Government’s record so far when asked about the data, telling reporters: “We had to take those tough decisions to lay the foundations of growth such that we can then deliver the higher living standards over this Parliament that people want to see.” The Prime Minister also used his message to thank those spending Christmas serving others, including in the NHS and emergency services, the armed forces, churches and charities. “I know that this is not an easy time for everyone, and my thoughts are with all those who are lonely this Christmas. “Having a tough time, missing a loved one. You are not alone,” he said. Meanwhile, Kemi Badenoch said Christmas was a time to reflect on “all that’s happened in the year” and “support all of those people who need our assistance”. “I want to take this opportunity to say thank you to everyone, not just in the Conservative Party or in my constituency, but across the country,” the Tory leader said. “For all that you have been doing in your communities, supporting each other and helping to keep all our towns, villages and places going. “I think that Christmas is a time for us to reflect on all that’s happened in the year. “Sometimes we have amazing years. “Sometimes, like when I lost my dad, we have difficult years and we’re commiserating, but we do it together. “But it’s a time for us to support all of those people who need our assistance, who need our help, who need our support.” She added: “And I’m looking forward to 2025. “I wish you all the very best for the New Year and all of the exciting things to come.” Liberal Democrat leader Sir Ed Davey said: “This year, I’ve had the chance to spend time with some amazing young carers. “Incredible young people who will spend this Christmas doing what they do all year round; looking after loved ones who are ill or disabled. “Carers embody the Christmas spirit of love, selflessness and generosity. “So I hope we can all take some time to think of them, and keep them in our hearts. “And wish them – and everyone – a Christmas full of peace, joy and love.”Trudeau told Trump Americans would also suffer if tariffs are imposed, a Canadian minister saysIn conclusion, the surprise announcement of a speech and press conference by the Bank of Japan has set the stage for a potentially pivotal moment in the country's monetary policy landscape. As market participants await Governor Kuroda's remarks and the central bank's official communication, all eyes are on Japan as the prospect of a rate hike looms large on the horizon. The impact of the BOJ's actions and statements in the coming days is sure to reverberate through financial markets and shape investor sentiments as the world watches closely for any developments in Japan's monetary policy direction.