Yasir Al-Rumayyan at FII: AI is an economic driver by 2027 and a solution to the problems of healthcare and energy sectors

Yasser Al-Rumayyan, Governor of the Public Investment Fund, revealed during his participation in the 8th edition of the Future Investment Initiative, which came under the title (Economics of Geopolitics), that the initiative has become a transformative force for work, progress and solutions, as it helped in its previous editions to conclude deals worth $125 billion, reflecting the role of leaders and cooperation around the world.

Al-Rumayyan stated that artificial intelligence can add $20 trillion to the global economy by 2030, and by 2027, artificial intelligence will become an economic driver and will solve problems in the healthcare and energy sectors, noting that the goal is to achieve a sustainable future for future generations.

He pointed out that by 2030, the growth of emerging market economies is expected to outpace the economies of advanced markets, which confirms the need for strategic investments in places that will lead the global economy.

He explained that the Kingdom possesses unique resources and a strategic geographical location that prompted it to invest in vital areas such as energy, infrastructure and technology.

He stated that the energy sector embodies a transformative force, noting that major energy players have invested more than $65 billion in low-carbon technologies since 2017, noting that the transition to a zero-emissions economy requires long-term investment committed to ensuring a fair energy transition, and balancing current energy needs with a vision for a sustainable future, noting that the goal is not only to feed economies, but to enable a future that supports energy and wealth for future generations.

Al-Rumayyan continued: “We have the responsibilities and opportunities to shape a future that invests not only in our economies but in humanity itself.” The Kingdom’s resources and strategic geographical location enable it to drive investment in vital areas such as energy, infrastructure and technology. He explained that the theme of this year’s conference embodies endless horizons for investment and shaping the future with the aim of standing on the edge of endless horizons, and focusing on long-term sustainable investments that address global challenges, enhance innovation and provide lasting impact, while prioritizing sectors that drive transformation, from next-generation technologies and healthcare innovations to engaging youth in sports. This year, the initiative will witness 180 dialogue sessions, with the participation of 600 speakers from political and business leaders and innovators, where it will focus on discussing pivotal issues including finance, artificial intelligence, sustainability, energy, and geoeconomics.

The schedule of events also includes external participation by FII members and strategic partners throughout the week, with a focus on data-backed discussions to ensure building actionable strategies based on reliable facts.

Al-Rumayyan described that the Kingdom has the capabilities to be a global center for artificial intelligence.

Al-Rumayyan said that artificial intelligence can add an estimated value of $20 trillion to the global economy by 2030.

The activities of the Future Investment Initiative in its eighth edition were launched today, Tuesday, in Riyadh under the slogan “Infinite Horizons… Investing Today to Shape Tomorrow” amidst a large international presence.