Saudi Arabia has won the accolade for “the most improved country overall” in a top US intellectual property index.
The Kingdom has been hailed for making significant strides in the technology sector – in the 12th edition of the US Chamber of Commerce International Intellectual Property Index.
This is a major step forward for the Kingdom as it becomes a leader in Artificial Intelligence.
These strides include allocating millions of dollars to artificial intelligence companies.
The country is also ranked 31st in the Global AI Index.
Speaking to Arab News, Vice President of Middle East Affairs at the US Chamber of Commerce Steve Lutes also highlighted the conclusion of important international treaties, which helped with investor sentiment.
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He says the body aims to encourage technology partnerships with the business community, government and academia in Saudi Arabia.
Added to this, a report by the European Centre for the International European Economy and the US Chamber of Commerce will be released soon.
It’s titled: “The Opportunity of Artificial Intelligence: Boosting Productivity and Growth in Saudi Arabia”.
This is being seen as a strong sign of the Kingdom’s steps towards investing further in the AI sector.
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The report will include a breakdown of the benefits of using AI for the Kingdom along with boosting digital industry structures.
Moves are also being made to invest in human capital with regards to AI and use these skills for business and government.
Meanwhile, the annual Leap technology conference, held in Riyadh from March 4-7, has seen experts bring together the best professionals – a major win for Saudi Arabia as it invests in AI.
As the sector grows globally, the country has shown that it’s become a leader in technology.
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