Saudi Gazette report

RIYADH — The Future Investment Initiative (FII) engaged in a dynamic session titled "Making Change and New Standards," that shed light on the pivotal role of international cooperation and the utilization of technologies, including artificial intelligence (AI), for the betterment of humanity.

Yasir Al-Rumayyan, governor of the Public Investment Fund (PIF) and chairman of the FII Institute, underscored the Kingdom's commitment to renewable energy, stating that it is projected to constitute 50% of the country's energy sources by 2030.

He emphasized that progress in the Kingdom is advancing rapidly, guided by well-defined plans and supported by strong political will. Al-Rumayyan emphasized the critical importance of investing in renewable energy to ensure a more sustainable future.

Speaking on AI, Al-Rumayyan highlighted the need for collaborative efforts on a global scale to advance the AI experience.

He stressed the significance of establishing partnerships that generate AI applications focused on benefiting humanity, especially as the future transitions towards artificial superintelligence. Achieving balance in AI usage becomes paramount.

Participants, including directors of major global companies, discussed the vital role of supportive and investment-stimulating financial services.

They emphasized the need for incentives that contribute to enhancing opportunities, measuring economic competitiveness, and building resilience against economic shocks on an international scale.

The importance of creating a healthy competitive environment that fosters global economic growth was reiterated.

The participants stressed the need for global partnerships to achieve breakthroughs in various sectors, including mining and health.

They highlighted the impact of modern technologies, including AI, in finding solutions to challenges in pharmaceutical industries, addressing climate change, and increasing women's participation in the economy.

The interactive session at the FII showcased a collective commitment to leveraging technological advancements and fostering international collaboration for the benefit of humanity and the global economy.