RISE UP Global Summit to Showcase Saudi Arabia's Tech Ambitions

Riyadh, Saudi Arabia to host the RISE UP Global Summit in 2024, showcasing the kingdom's ambitious efforts to diversify its economy and become a global tech hub, attracting major tech companies and investments.

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Hadeel Hashem
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RISE UP Global Summit to Showcase Saudi Arabia's Tech Ambitions

RISE UP Global Summit to Showcase Saudi Arabia's Tech Ambitions

Riyadh, Saudi Arabia is set to host the RISE UP Global Summit, a major tech conference featuring over 300 international speakers, 300 startups, and dozens of investors and talents. The event, taking place from May 7-9, 2024, is part of Saudi Arabia's ambitious efforts to diversify its oil-rich economy and build a thriving domestic tech industry, particularly in the field of artificial intelligence (AI).

The kingdom has created a $100 billion fund to invest in AI and other technologies, and is in talks with investors to put an additional $40 billion into AI companies. Saudi Arabia is also investing $1 billion in a Silicon Valley-inspired startup accelerator to attract AI entrepreneurs. These initiatives are part of the kingdom's 'Vision 2030' plan to transform its economy and reduce its reliance on oil revenues.

The RISE UP Global Summit has attracted major tech executives and companies, including Amazon, Google, TikTok, IBM, and Huawei, who have announced billions of dollars in investments and collaborations with Saudi Arabia. "The RISE UP Global Summit will be held in Riyadh, Saudi Arabia, from May 7-9, 2024. The event will feature over 300 international speakers, 300 startups, and dozens of investors and talents," according to the event organizers.

The summit will be held alongside the Saudi Entertainment Amusement (SEA) Expo, providing attendees the opportunity to connect with hundreds of international and local exhibitors showcasing their latest innovations. The SEA Summit, which is part of the event, will feature a range of executive think tank panels and sessions covering topics such as reaching a global audience, the expectations and behaviors of the next generation of consumers, the fusion of design, technology, and storytelling, the importance of safety measures, sustainability initiatives, success stories from around the world, empowering women in the entertainment industry, employee retention strategies, and achieving and sustaining operating profits.

Why this matters: The RISE UP Global Summit is a significant event that showcases Saudi Arabia's determination to establish itself as a global tech hub and attract international investments and partnerships. The event's success could have far-reaching implications for the kingdom's economic diversification efforts and its position in the global tech landscape.

The summit promises essential insights into the energy sector's transformation to meet global energy demands responsibly, as the region plays a significant role in the road to net zero. Over 17 Saudi companies are participating in the event, including Bahra Advanced Cable Manufacture Co Ltd, Jeddah Cables Co, and Riyadh Cables Group Co. The event aims to provide a platform for comprehensive knowledge sharing and discussions on energy transition, real-world solutions, and emerging challenges in sustainability and cybersecurity.

Key Takeaways

  • Riyadh to host RISE UP Global Summit in May 2024, featuring 300+ speakers, startups, investors
  • Saudi Arabia investing $100B in AI, $40B in AI companies to diversify economy beyond oil
  • Major tech firms like Amazon, Google, TikTok announcing investments and collaborations with Saudi Arabia
  • RISE UP Summit to be held alongside Saudi Entertainment Amusement (SEA) Expo 2024
  • Event showcases Saudi's efforts to establish itself as a global tech hub and attract investments