Saudi Arabia’s entertainment authority provides $18.6m to support SMEs

Saudi Arabia’s entertainment authority provides $18.6m to support SMEs
Saudi Arabia’s entertainment authority provides $18.6m to support SMEs

Thank you for reading the news about Saudi Arabia’s entertainment authority provides $18.6m to support SMEs and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: King Abdullah Financial District Development & Management Co. has signed a deal with Orange Business, the enterprise division of Orange Group, to design, build and run an advanced smart city platform that will seamlessly integrate with KAFD’s existing digital infrastructure. 

This strategic partnership aims to incorporate advanced technologies including artificial intelligence and data analytics into the existing platform, enhancing the smart city experience within the area, known as Saudi Arabia’s premier business district. 

The agreement was signed on Sept. 4 at a ceremony hosted by KAFD, which was attended by more than 50 guests.  

The development of KAFD’s digital infrastructure aligns with Saudi Arabia’s Vision 2030, as the Kingdom strives to enhance livability and competitiveness within its business districts. 

Gautam Sashittal, CEO of KAFD DMC, said: “The increasing wave of urbanization across the world is set to uncover a $517 billion market for smart city solutions with an annual growth rate of 25 percent, a fact that plays into KAFD’s objectives of building a future-proof and business-friendly hub in Riyadh.”   

He added: “A major step in that direction, our partnership with Orange Business will further strengthen our drive to become a global pioneer in smart urban development.”  

Under the new agreement, Orange Business will deliver a range of services to KAFD, including the Orange Smart City Platform, capable of managing big data, data analytics encompassing descriptive, predictive, and prescriptive analytics, and governance. 

“The commissioning of the Smart City Platform is a clear signal of our commitment to elevate what is already a world-class district to the next level of smart city evolution – what we call the cognitive city,” said Sahem Azzam, senior vice president of Middle East, Africa, and Turkiye of Orange Business.  

He added: “This is driven by the collection of data and leveraging AI and data analytics to provide deeper user insights as a basis for new use cases, revenue streams, and innovative services for the city’s population. It will also optimize city operations – making them better, faster, and safer.”  

The press statement added that Orange Business has been involved in developing smart city projects in Saudi Arabia and the Middle East for more than a decade.  

These were the details of the news Saudi Arabia’s entertainment authority provides $18.6m to support SMEs for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi Arabia, China discuss collaboration in urban development during Beijing meeting

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]