RIYADH — Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Al Khorayef has stated that the technological transformation that the industrial sector has witnessed around the world over the past 25 years was in the interest of the Kingdom.
He pointed out that size is no longer a problem, and production is now possible at a much smaller volume.
Al Khorayef added that adopting technologies will allow business owners to be efficient producers at a low cost.
He also said: “The disruption occurring globally at the technology level allows Saudi Arabia to be able to capture different technologies and achieve growth in industry and mining.”
Al Khorayef stressed this in the session “Where Manufacturing and Tech collide” within the special meeting of the World Economic Forum in Riyadh.
The minister said: “Saudi Arabia is ready to adopt technology, in addition to various training programs for workers, considering that good organization and equipment are necessary to ensure the safety of the technologies used”.
Training and education processes have become more effective in light of technological development, he added.
Using artificial intelligence in virtual reality increases the level of learning by 80%, according to the Saudi minister of industry.
Saudi Arabia is relying on “Alat” company, which was announced by Crown Prince Mohammed Bin Salman last February, to provide final products to consumers, in addition to contributing to the development of technology locally instead of importing it.
The company aims to conclude deals with international bodies and invest in major industrial companies that the Kingdom would like to see it operating locally.
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