The industrial sector in Saudi Arabia has undergone a substantial technological transformation in recent decades. According to Bandar Alkhorayef, the Minister of Industry and Mineral Resources, this global trend towards technology has been beneficial for the Kingdom, enabling the production of goods at a lower volume and cost.
Minister Alkhorayef emphasized the diminishing importance of size in production, highlighting that technological advancements have made it possible for businesses to operate efficiently, even on a smaller scale. He also emphasized the potential for Saudi Arabia to utilize these technologies to drive growth in its industrial and mining sectors.
Addressing the World Economic Forum’s special meeting in Riyadh, Minister Alkhorayef expressed the Kingdom’s readiness to embrace technology, as well as the implementation of comprehensive training programs for workers to ensure the safe and effective use of these technologies. He underscored the importance of organizational efficiency and proper equipment in integrating these technologies into the industrial landscape.
Furthermore, Minister Alkhorayef revealed that advancements in technology have significantly enhanced training and education processes. Citing the use of artificial intelligence in virtual reality, he noted an 80% improvement in the learning experience, emphasizing the potential for technology to revolutionize workforce training and development.
In line with this technological progression, Saudi Arabia has focused on the “Alat” company, announced by Crown Prince Mohammed bin Salman, to drive local technological development and reduce reliance on imported technology. The company aims to provide final products to consumers and forge partnerships with international entities, contributing to the growth and localization of industrial technology in the Kingdom.
The integration of technology into Saudi Arabia’s industrial and mining sectors represents a significant opportunity for growth, efficiency, and innovation. With the government’s commitment to embracing and developing technology, the Kingdom is poised to establish itself as a leader in the global industrial landscape.
Source:
– World Economic Forum’s special meeting in Riyadh, Saudi Arabia