Saudi Arabia’s Ministry of Economy and Planning seals MoU with SDAIA

By Shilpa Annie Joseph, Desk Reporter
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Saudi Arabia’s Ministry of Economy and Planning has signed a memorandum of understanding (MoU) with the Saudi Data and AI Authority (SDAIA) in order to explore ways in which AI and data can strengthen policymaking and economic growth.

The MoU was signed by Minister of Economy and Planning Mr. Faisal bin Fadhil Alibrahim, and President of SDAIA Dr. Abdullah bin Sharaf Alghamdi.

The agreement creates a framework for closer strategic cooperation in key areas, including developing indicators monitoring the impact and effectiveness of social and economic policies in the Kingdom.

The Ministry’s strategic agreement with SDAIA underpins a concerted effort to support and develop economic policy and development by turning data into a strategic asset that can be applied to pursue the public good.

It will enable the Kingdom to keep pace with the latest developments in data analytics and artificial intelligence, supporting economic growth in line with Saudi Vision 2030, as per the statement.

The government data modeling and simulation techniques will be substantially enhanced through this partnership.

According to the statement, “The frequency of policy evaluation will also be strengthened to better understand how the Kingdom’s public plans, programs, and initiatives impact the economy, business, and civil society. Both parties will also deepen cooperation by accelerating the integration of the latest economic and scientific reports and intelligence into new social and economic government policy.”

Earlier this month, SDAIA entered into a partnership with Google Cloud in order to empower women globally to pursue careers in artificial intelligence (AI) and machine learning (ML).

Related: UAE Ministry of Economy launches its new HQ in metaverse


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