Insight

Minister Al-Ibrahim Believes AI Can Boost Global Economy by Trillions in the Next Decade

Faisal Al-Ibrahim, the Minister of Economy and Planning for Saudi Arabia, has expressed that artificial intelligence (AI) has the potential to significantly increase the global economy by trillions of dollars in the next ten years. 

Speaking at a special meeting of the World Economic Forum in Riyadh, Al-Ibrahim emphasized that AI will bring about significant changes in how people work and live, leading to the emergence of new industries.

He also stressed the importance of ensuring that the benefits of AI are accessible to everyone, while also managing potential risks. Al-Ibrahim highlighted the need for a global economy that is inclusive and allows every country to prosper, regardless of their wealth or status.

He also underscored the importance of investing in human skills, education, and well-being, and emphasized the significance of inclusive growth, energy availability, and international cooperation as crucial factors for long-term progress.