ACWA Power consortium commits $2.2bn for Al-Shuaibah solar projects

ACWA Power consortium commits $2.2bn for Al-Shuaibah solar projects
ACWA Power consortium commits $2.2bn for Al-Shuaibah solar projects

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia is witnessing unprecedented growth in the robotics sector, with an increasing number of technology firms seeking registration to engage in commercial activities in the Kingdom.  

According to the Minister of Commerce’s summary bulletin released earlier this month, the number of robotics firms registered in the Kingdom surged 52 percent to reach 2,344 in the second quarter of 2023, up from 1,537 in the corresponding period a year ago.   

Riyadh topped the list in issuing 1,387 registrations, followed by Makkah at 491, the Eastern Province at 269, Madinah at 76 and Qassim at 32, the bulletin noted.   

AI commercial registrations  

Meanwhile, Saudi Arabia also saw the number of firms getting registration to offer artificial intelligence solutions rising by 49% to hit 4,229 in the second quarter of the year, compared to 2,823 in the same period in 2022. 

Riyadh again topped the list in issuing 2,563 registrations, followed by Makkah at 843, the Eastern Province at 475, Madinah at 130 and Qassim at 62, according to the bulletin.

Saudi Arabia’s AI sector is expected to contribute over $135.2 billion to the economy in 2030, equivalent to 12.4 percent of the Kingdom’s gross domestic product, according to PricewaterhouseCoopers.   

In October 2022, Ahmed Baharoon, AI consultant and co-founder of Inc Robotics, a Saudi-based robotics provider, told Arab News that the Kingdom is supporting the adoption of robotics across industries. However, the challenges in automating their operations persist.   

Speaking at that time, Baharoon said: “The government is driving initiatives such as the automation of 4,000 manufacturing plants within the next five years, and the Kingdom’s logistical strategy launched last year lists the use of robotics and AI in smart cities, including NEOM and The Line.”  

He also highlighted then that robotics could significantly reduce costs in many sectors and utilize human labor for better purposes.   

Baharoon added: “Having a robot can enhance the customer experience and create great moments that can be used to enhance brands and present them in a fun way.”   

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