Saudi Arabia Attracts 40 French AI Startups for National Industrial and Logistics Development Program
Saudi Arabia has attracted 40 French startups specializing in artificial intelligence (AI) as part of its national industrial and logistics development program.
According to data from Artefact, a global data and AI consulting firm, Saudi Arabia expects AI to contribute over $135 billion to its economy by 2030, representing 12.4% of its GDP.
The French 2030 plan allocates €56 billion in investments focused on developing technological activities, promoting environmentally responsible innovation, and supporting decarbonization efforts.
Rachid Boulaouane, Director of Investments at Business France, presented the key areas of partnership, including technological exchanges, R&D, joint investments in AI and fourth industrial revolution technologies, as well as improving regulatory frameworks to foster a business-friendly environment.
