Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Unlocking Potential: Saudi Arabia’s ICT Market Insights Revealed by Infinium Global Research

Published

on

unlocking-potential:-saudi-arabia’s-ict-market-insights-revealed-by-infinium-global-research

PUNE, India, Dec. 4, 2023 /PRNewswire/ — In recent years, Saudi Arabia has demonstrated remarkable progress in modernizing its Information and Communication Technology (ICT) sector. This transformation is driven by strategic initiatives from the Communication and Information Technology Commission (CITC), which has prioritized enhancing market competition through regulatory flexibility, transparency, and collaborative efforts. Notably, the International Telecommunication Union (ITU) recognizes Saudi Arabia as a leader in the Arab State region, achieving a “generation 4” (G4) status in the ITU Global ICT Regulatory Outlook 2020. Within the Middle East and North Africa regions, Saudi Arabia stands as one of the largest markets for Information and Communication Technology. With its strategic geographical location, Saudi Arabia is well-positioned to emerge as a hub for technology services and cloud computing, boasting global connectivity access via the Red Sea, thereby serving markets in Europe, Asia, and Africa. As a G4 country, Saudi Arabia effectively integrates ICT regulation with a separate regulatory authority vested with enforcement powers. This authority operates with a clear mandate, overseeing a fully competitive market while safeguarding consumer interests under the “generation of regulation” model. Projections indicate that the Saudi Arabian ICT market is expected to experience a 5.6% growth in 2023, reaching a total value of $33.43 billion in 2022. This growth is predominantly driven by hardware expenditure, accounting for 58.5%, followed by services (30.4%), and software (11.1%).

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/contact-us
Key Business Opportunities and Factors Driving ICT Growth in Saudi Arabia:
Cloud Adoption Surge: Anticipate a robust migration to cloud computing, as organizations increasingly embrace Infrastructure-As-A-Service and Platform-As-A-Service solutions.Emphasis on Edge Computing: Expect increased investments and collaborations in edge computing, facilitating the successful deployment of emerging technologies and use cases.IT Services in the AI Landscape: IT services providers have the opportunity to design and implement innovative business models while effectively managing data and infrastructure.Emerging Technology Integration: Witness a growing demand for industrial and intelligent automation, coupled with seamless integration with future technologies like IoT, AI, and Blockchain.Green Data Centers: Anticipate a surge in green data center initiatives, data center consolidation efforts, and policy changes aimed at enhancing data center sustainability.Driving Forces for ICT Growth:
Saudi Arabia’s ICT expansion is propelled by rising personal incomes and a growing pool of specialists committed to advancing leadership in connectivity and information technology. Additionally, the nation boasts a robust economy, political stability, a youthful demographic, and national policies that prioritize economic diversification. Factors such as increased foreign direct investment (FDI), a burgeoning ecosystem that supports ICT innovation and entrepreneurship, a thriving telecommunications sector, and a growing IT service industry collectively stimulate ICT investments in Saudi Arabia.
Investments:
Saudi Arabia is embarking on a new era of digital innovation, with ICT spending projected to exceed $34.5 billion this year, underpinned by significant foreign direct investment and a substantial $7 trillion development plan for the giga project. In 2023, the Saudi government is making noteworthy investments in key areas, including AI, IoT, cybersecurity, and data analytics.
In the realm of foreign direct investment, Saudi Arabia is incentivizing data center investments of $400 million, which create a minimum of 20 jobs with an average annual wage of $40,000, thereby qualifying for up to 30 years of tax savings.
Furthermore, as part of its commitment to digital transformation and preparation for the future economy, Saudi Arabia has unveiled investments exceeding $9 billion in its technology sector. These investments are spearheaded by a substantial $2.1 billion commitment from Microsoft to establish a super-scalar cloud infrastructure in the country, and Oracle’s $1.5 billion investment to fortify the kingdom’s cloud computing capabilities. Additionally, China’s Huawei is contributing $400 million to enhance Saudi Arabia’s cloud infrastructure.
The information and communication technology sector in Saudi Arabia are valued at SR134 billion, constituting 4.1% of the Kingdom’s gross domestic product (GDP), emphasizing its growing economic significance.
During the forum, the Communications, Space, and Technology Commission (CST) announced that the ICT market in Saudi Arabia surged to a value of 154 billion in 2022, establishing itself as the largest and most rapidly expanding digital economy in the region. Additionally, Dr. Altamini emphasized that CST has introduced high-speed internet services in 21,000 villages across the nation, addressing the needs of over 5 million people and ensuring uninterrupted communication services. This underlines the substantial progress in the Kingdom’s communication and technology infrastructure. Notably, 5G coverage in Riyadh has reached an impressive 53%, while exceeding 94% in other regions. The utilization of fiber optics has extended to 3.7 million users in Saudi Arabia, reflecting a dynamic shift towards advanced and high-speed connectivity solutions.
Opportunities:
The Ministry of Communication and Information Technology (MCIT) has been primarily focused on establishing a robust and advanced architectural framework to facilitate digital transformation across various domains such as e-commerce, smart cities, national data management, digital education, digital healthcare, and e-government. In line with Saudi Arabia’s ICT strategy for 2023, the objectives include generating more than 25,000 employment opportunities within the sector, achieving a 50% expansion in the IT market size and technology development, and increasing the sector’s contribution to GDP by $13.3 billion. The strategy also aims to attract international investments and promote the active participation of women in the field. According to the International Data Corporation (IDC), the Saudi ICT sector experienced an impressive 8% growth between 2019 and 2021, culminating in a total value of $32.1 billion.
In a move to bolster the resilience of the Supreme Audit Institution (SAI) through ICT solutions, the Saudi Fund for Improved SAI Performance (Saudi FISP) is facilitating the expansion and enhancement of ICT infrastructure. The Saudi Arabia General Court of Audit has generously allocated $1 million to be distributed among International Organization of Supreme Audit Institution (INTOSAI) members that require external assistance to advance their ICT infrastructure, thus fortifying the capabilities of these institutions.
Need Assistance? Send an Enquiry@ https://www.infiniumglobalresearch.com/contact-us
Vision 2030:
Saudi Arabia’s Vision 2030 is focused on the bolstering of the ICT sector with the goal of forging a digital society, digital government, digital economy, and a forward-thinking future for the Kingdom. Within this framework, the Ministry of Communication and Information Technology (MCIT) establishes the groundwork for diversification and enhancing competitiveness. It revolves around three primary pillars, each delineating specific objective to be realized by 2030: fostering a dynamic society, fostering a prosperous economy, and shaping an ambitious nation via a well-crafted digital strategy, enabling a connected present and an innovative future.
Challenges:
Saudi Arabia encounters difficulties in both enlarging its domestic ICT workforce and attracting foreign talent. Moreover, sourcing local professionals with hands-on experience in cutting-edge technologies like cloud computing, mobility solutions, and cybersecurity proves to be a challenge. The nation also grapples with significant cybersecurity threats, further complicating its ICT landscape.
Main Players
IBM Middle EastSaudi Telecommunication companyAmazon.aePalo Alto Networks Saudi Arabian Limited CompanynyblAbout Us:
Infinium Global Research, a leading provider of market research, has recently released comprehensive reports on several markets across Saudi Arabia. These reports present a detailed analysis of various segments and sub-segments within the Saudi Arabian markets. It also sheds light on the impact of drivers, restraints, and macro indicators on both short-term and long-term market dynamics. The reports provide a comprehensive outlook on trends, forecasts, and dollar values of the markets.
Infinium has published reports across ICT domains operating for Clients in Saudi Arabia for such As Cloud Infrastructure Market, Cloud Gaming Market, IT Services Outsourcing Market, Government Cloud Market, Cloud Migration Services Market, AI in Edge Computing Market, Cloud Robotics Market, Finance Cloud Market    
Contact:Infinium Global Research2nd Floor, Ganadish Empire,Rahatani Chowk, Pimple Saudagar,Pimpri-Chinchwad, Maharashtra 411027Phone: +918999930634Email: [email protected] Website: www.infiniumglobalresearch.com
Logo: https://mma.prnewswire.com/media/2244132/Infinium_Global_Research_Logo.jpg
 
 

View original content:https://www.prnewswire.co.uk/news-releases/unlocking-potential-saudi-arabias-ict-market-insights-revealed-by-infinium-global-research-302004491.html

Continue Reading

Artificial Intelligence

HONOR Unveils Four-Layer AI Architecture and Forges Ahead with Google Cloud for More AI Experiences at VivaTech 2024

Published

on

honor-unveils-four-layer-ai-architecture-and-forges-ahead-with-google-cloud-for-more-ai-experiences-at-vivatech-2024

Experience AI-powered Studio-level Portrait Photography on the New HONOR 200 Series  
PARIS, May 22, 2024 /PRNewswire/ — Global technology brand HONOR has made its debut today at VivaTech, one of Europe’s largest tech and innovation events. During its keynote, HONOR showcased its innovative approach to on-device AI and unveiled its pioneering Four-layered AI Strategy. HONOR also announced upcoming Gen-AI experiences with Google Cloud, which are set to be featured on its anticipated smartphones, opening up exciting possibilities for enhancing user experiences.

“At HONOR, we firmly believe that, by combining the power of on-device AI’s personalization, intuitiveness, and privacy protection, everyone can unlock the full potential of AI safely and securely,” said George Zhao, CEO of HONOR Device Co., Ltd. “We are also delighted to forge ahead with Google Cloud, leveraging our combined expertise to unlock the potential of this hybrid approach and deliver even more seamless AI experiences to our users.”
Introducing HONOR’s Four-Layer AI Architecture
During the keynote, HONOR unveiled its Four-Layer AI Architecture and demonstrated its strategic focus on integrating AI into MagicOS. This Four-Layer Architecture comprises distinct layers. At the base layer, Cross-device and Cross-OS AI form the foundation of an open ecosystem, which allows the sharing of computing power and services among devices and operating systems. Building upon this foundation, the Platform-level AI layer enables a personalized operating system, allowing intent-based human-computer interaction and personalized resource allocation. At the third layer, App-level AI is poised to introduce a wave of innovative, generative AI applications that will revolutionize user experiences. Lastly, at the top, the Interface to Cloud-AI services layer provides users with easy access to massive cloud services while prioritizing privacy protection, creating a truly holistic and future-forward AI experience.
As part of MagicOS 8.0, Magic Portal is the industry’s first intent-based UI, which understands user behavior and streamlines complex tasks into single-step processes. Currently, Magic Portal supports 100 top applications across seven scenarios, including travel, productivity, messaging, search, entertainment, shopping, and social media, with plans to expand usage scenarios to provide even more seamless and intelligent AI experiences in the future.
As part of HONOR’s Four-Layer Architecture, HONOR is set to integrate cutting-edge Gen-AI experiences, powered by Google Cloud, into its upcoming smartphones, promising to deliver a new level of intelligence and innovation to users with enhanced privacy protection.
Revolutionizing Portrait Experience with HONOR 200 Series
Following the successful launch of AI Motion Sensing Capture, a cutting-edge feature that leverages AI to automatically capture fast-moving actions, HONOR also announced that the upcoming HONOR 200 Series will take mobile photography to new heights with an all-new AI-enhanced Portrait experience.
The HONOR 200 Series is poised to revolutionize portrait photography by bringing the mastery of Studio Harcourt, a legendary French photography studio known for its expertise in capturing classic portrait shots with iconic figures, to every step of the process, leveraging AI technology to recreate the iconic studio’s legendary lighting and shadow effects.
By using AI to learn from a vast dataset of Studio Harcourt portraits, the HONOR 200 Series has successfully broken down the entire portrait photography process into nine distinct steps, and perfectly replicates the full Studio Harcourt method, ensuring flawless and studio-quality portraits with every shot.
The HONOR 200 Series is set to launch in Paris on June 12, powered by MagicOS 8.0, further solidifying HONOR’s commitment to democratizing AI technology. In a move to make AI more accessible to a wider audience, HONOR also announced plans to roll out MagicOS 8.0 to its HONOR Magic V2 and HONOR 90 devices, empowering more users to experience the transformative power of AI.
The Human-AI Synergy: Smart Devices for a Better Future
At the event, HONOR also hosted an insightful panel discussion featuring esteemed industry expert Dr. Justine Cassell. The discussion delved into the future of multimodal interaction, highlighting how this integration enhances convenience and privacy protection for device users.
“On-device AI can better empower individuals,” emphasized George. “The on-device offers personalized recommendations while safeguarding user privacy by keeping data on the device. For instance, HONOR’s Magic Portal design ensures users retain control over service selection and decision-making.”
In terms of multimodal interaction, Dr. Justine Cassell noted, “Humans live multimodally. The rise of on-body devices like rings, and pins, alongside powerful smartphones, shows growing comfort with AI integrating verbal language, and nonverbal cues like gestures and facial expressions. This predicts the adoption of multimodally-sensitive AI on phones.”
“Human-centric is HONOR’s design philosophy, with human at the center of all devices,” George envisioned. “Empowered by AI, cross-device integration can combine the unique advantages of different devices in the future. Rather than learning user behaviors in isolation on each device, this approach allows for macro-level, unified user intent recognition, offering tailored recommendations and suggestions.”
Photo – https://mma.prnewswire.com/media/2419432/1.jpg
Photo – https://mma.prnewswire.com/media/2419433/2.jpg
Photo – https://mma.prnewswire.com/media/2419434/3.jpg

View original content:https://www.prnewswire.co.uk/news-releases/honor-unveils-four-layer-ai-architecture-and-forges-ahead-with-google-cloud-for-more-ai-experiences-at-vivatech-2024-302152861.html

Continue Reading

Artificial Intelligence

Borderless AI Appoints Former Chime HR Executive Beth Steinberg to Board of Advisors to Build on Global HR Expertise

Published

on

borderless-ai-appoints-former-chime-hr-executive-beth-steinberg-to-board-of-advisors-to-build-on-global-hr-expertise

Steinberg’s decades of experience driving strategies for corporate talent and people management will strengthen the company’s market position and enhance its impact on the global human resources space
TORONTO, May 22, 2024 /PRNewswire/ — Borderless AI, the AI-powered startup revolutionizing the Employer of Record (EOR) industry, has appointed Beth Steinberg, former Chief People Officer at Chime, to its Board of Advisors to leverage her deep understanding of the unique needs of human resources teams to build successful global HR programs.

Following Borderless AI’s $27M seed funding in March 2024, Steinberg’s appointment furthers the company’s focus on harnessing the vast capabilities of generative AI to automate and accelerate the processes of onboarding, managing, and paying international team members.  Borderless AI’s novel AI agent Alberni, is the first of its kind specifically created to perform complex and time-consuming HR tasks, such as automating the process of generating global employment agreements or onboarding new global employees, all within minutes by leveraging conversational AI. Steinberg’s appointment underscores the need for advanced technology to propel innovation in the HR category and the company’s commitment to advancing the work of people management and HR teams.
“Having an acute sense of the HR industry is critical to ensure we are providing products and services to our customers that drive real value and impact,” said Willson Cross, co-founder and CEO of Borderless AI. “Beth brings vast expertise and understanding of the nuances of the human resources category, and her leadership experience and passion for innovation will help Borderless AI equip organizations with the tools and information they need to scale globally and deliver results for their people.”
Steinberg most recently held the position of Chief People Officer of  Chime, where she currently serves in an advisory role. During her time as Chime’s Chief People Officer, Steinberg led the company’s human resources strategy, building purposeful programs to drive HR efforts and people and team growth across the organization.
“I am excited to join the advisory board of Borderless AI, a company whose mission aligns with my belief that talent should be borderless,” said Steinberg, Board of Advisors, Borderless AI. “The company’s all-in-one platform allows businesses to focus on growth while tapping into the world’s talent pool, simplifying global HR processes. By harnessing this innovative technology, Borderless AI is breaking down barriers and empowering companies to build diverse, high-performing teams. I look forward to being part of this transformative journey.”
Steinberg joins Borderless AI as a tenured HR expert, with over 30 years of experience holding leadership and advisory roles in the human resources field.  In addition to her role as Chime’s CPO, she has led human resources teams at various companies including Meta, Nike, Electronic Arts, and Nordstrom, driving change and impact on an individual and company level.
A committed member of the  HR community at large, Steinberg will continue to advise numerous other companies, including freelance and talent management platform Contra, and VC firm Felicis,  in addition to her role on Borderless AI’s Board of Advisors. She also holds an acting role at Mensch Ventures, the People and Talent advisory firm she founded in 2016, and has served for over 10 years as a company sponsor and mentor in the TechWomen program, helping to empower young women around the world to build careers in STEM.
Steinberg is joining the Board of Advisors alongside recent appointee Leonard Shen, a former Visa and PayPal executive, who is advising the company’s growth in the compliance arena. Together, Steinberg and Shen bring expertise in pivotal functions to further Borderless AI’s market position and advancement in the EOR space.
For more information on Borderless AI, visit hireborderless.ai. You can also try out Alberni for free here.
About Borderless AIBorderless AI is a global payroll solution that leverages the power of generative AI to automate and speed up the process of onboarding, managing, and paying international team members. With Borderless AI, businesses can compliantly hire and manage talent worldwide without establishing a foreign entity while alleviating the complexities and risks associated with hiring global employees. With a focus on innovation and customer service, Borderless AI developed Alberni, the world’s first AI agent for global HR. Alberni uses conversational AI to simplify global employment tasks from contract creation to expense management. The company is headquartered in Toronto, Canada, and has raised $27 million in seed funding to date, backed by Susquehanna and Aglaé Ventures.
Logo – https://mma.prnewswire.com/media/2367704/BorderlessAi_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/borderless-ai-appoints-former-chime-hr-executive-beth-steinberg-to-board-of-advisors-to-build-on-global-hr-expertise-302152223.html

Continue Reading

Artificial Intelligence

Peloton delivers Platform v2 with enhanced security, mobility, and speed, powering business solutions for the world’s energy enterprises

Published

on

peloton-delivers-platform-v2-with-enhanced-security,-mobility,-and-speed,-powering-business-solutions-for-the-world’s-energy-enterprises

CALGARY, AB, May 22, 2024 /PRNewswire/ — Peloton Computer Enterprises Ltd. — the global standard for energy data management is proud to announce the release of Platform v2. The Peloton Platform delivers a cohesive experience for traditionally siloed operations, hosting solutions encompassing Well Data Lifecycle, Production Data Lifecycle and Land Data Management. The Platform is designed to manage your assets by providing efficiencies for removing disparate processes and data redundancy. Peloton Platform maximizes security, leverages mobility, accelerates data input, and enables real-time, data driven decisions for energy clients. Learn how you can GET IT ALL, and get it today at https://www.peloton.com/get-it-all-lp.

 
Security: Peloton’s best in class security includes our 24/7 security team and SOC1/2 compliance embedded within the Peloton Platform. With superior security measures and dedicated platform monitoring, Peloton ensures data integrity and reliability, backed by global, redundant data centers to minimize the risk, and offer material cost savings compared to on-premises solutions.Mobility: The Platform offers industry leading mobility, allowing customers to access and manage critical operational data anytime, anywhere. With intuitive mobile apps and fast, local data centers, Peloton empowers users with seamless accessibility and enhanced productivity.Integration: The Peloton Platform provides data integration across all three solutions (Well Data Lifecycle, Production Data Lifecycle, and Land Data Management) creating a unified ecosystem for the data management of your assets. Plus, ETL/Web API processes empower organizations to seamlessly manage integrations to third party databases and applications. By centralizing these functions, Platform clients benefit from saving countless hours of manual data entry and significant costs associated with rework from relying on disparate or out of date information. The Platform delivers stakeholder data trust and peak data efficiency, ensuring better decision-making and resource optimization across organizational silos.Faster Data Input: Peloton’s Well Data Lifecycle, Production Data Lifecycle and Land Data Management solutions on the Peloton Platform, revolutionize data input workflows by automating processes and reducing manual entry. With a suite of direct integrations, import tools, automated data synthesis from sensor and contextual data points, our solutions accelerate data entry and enhance accuracy, enabling users to focus on critical tasks without the burden of tedious data input.Real-time: The Peloton Platform offers real-time data ingestion and visualization in cloud storage solutions, providing clients with instant access to critical data during and after operations. With ultra-low latency connections and standardized data delivery, Peloton empowers clients with actionable insights for efficient decision-making using current information.”Organizational data silos and data redundancy breed frustration and erode trust in your operations. Too many organizations are still relying on disparate processes and custom solutions preventing a single source of truth and hampering their abilities to do more with less effort”, said Adil Walji, Peloton CTO.
About Peloton: Peloton is a leading provider of innovative technology solutions for the energy industry, offering solutions to optimize operations and enhance productivity. With a focus on security, mobility, integration, and real-time monitoring, Peloton powers energy clients to thrive in an ever-evolving landscape. For more information, visit https://www.peloton.com/get-it-all-lp.
Media Contact:[email protected] 
 
 
 
Logo – https://mma.prnewswire.com/media/2415442/Peloton_NewGreyTagline_RGB_WEB_Logo_Logo.jpgPhoto – https://mma.prnewswire.com/media/2415443/Connections_640x360.jpgPhoto – https://mma.prnewswire.com/media/2415444/Faster_640x360.jpgPhoto – https://mma.prnewswire.com/media/2415445/Mobility_640x360.jpgPhoto – https://mma.prnewswire.com/media/2415446/Security_640x360.jpg

View original content:https://www.prnewswire.co.uk/news-releases/peloton-delivers-platform-v2-with-enhanced-security-mobility-and-speed-powering-business-solutions-for-the-worlds-energy-enterprises-302152161.html

Continue Reading
Advertisement
Advertisement

Latest News

Trending