This partnership will enable SCAI to leverage FII’s Institute global network and deep expertise in developing meaningful initiatives
FinTech BizNews Service
Mumbai, 31 October, 2024: The Saudi Company for Artificial Intelligence (SCAI), wholly-owned by the Public Investment Fund (PIF), and the FII Institute, a leading global non-profit foundation with an investment arm and one agenda: Impact on Humanity, have announced a strategic partnership aimed at accelerating responsible and ethical AI development, driving innovation and promoting sustainability.
By combining their expertise and resources, SCAI and FII Institute’s partnership provides a platform to foster AI research and development, ensuring a positive and equitable impact on the future. This partnership will enable SCAI to leverage FII’s Institute global network and deep expertise in developing meaningful initiatives while connecting with impact investors and policymakers to promote transparency and accountability in AI development and deployment.
Richard Attias, CEO of the FII Institute, applauded this partnership stating: “As AI reshapes the future of work, governments need forward-thinking companies like SCAI to navigate the complex landscape of regulatory compliance and innovation. By working together, we can harness the immense potential of AI while safeguarding against potential risks. SCAI and FII Institute are committed to partnering with global leaders to foster a thriving AI ecosystem that benefits businesses, workers, and society as a whole.”
Commenting on this partnership, Mubarak Alwadaani, Chief Commercial Officer of SCAI, said: “Our collaboration with the FII Institute is a testament to our unwavering commitment to developing AI technologies that not only push the boundaries of innovation, but also uphold the highest standards of ethics and responsibility. As we continue to drive economic growth and position Saudi Arabia as a global leader in AI, we are focused on creating AI applications and solutions that are transparent, unbiased, and sustainable for the future.”
As a national AI champion, SCAI is at the forefront of unlocking the power of artificial intelligence, creating avenues for innovation and furthering economic growth in varied sectors. The collaboration embodies a mutual dedication to establishing international connections aimed at propelling the technology sector forward, thus ensuring a significant imprint on the global technology landscape.
The FII Institute aims to drive sustainable development and positive change on a global scale through research, publications, and innovative initiatives. AI has created a new geopolitics for nations, businesses, and individuals and could influence the balance of power. FII Institute’s collaboration with SCAI ensures key stakeholders including leaders, entrepreneurs, and innovators, have access to responsible AI innovation and policymaking. At FII8 tech giants, world leaders, CEOs, and inventors have gathered to discuss important topics on how AI impacts critical domains like security and economic competitiveness in Riyadh.
FII Institute:
The Future Investment Initiative (FII) Institute is a global non-profit foundation with an investment arm and one agenda: Impact on Humanity. Global, inclusive, and driven by data: we foster great minds from around the world and turn ideas into real-world solutions and actions in four critical areas: Artificial Intelligence (AI) and Robotics, Education, Healthcare and Sustainability.
SCAI
The Saudi Company for Artificial Intelligence (SCAI) is a wholly-owned PIF company that offers impactful solutions and products for multiple sectors, including smart city, media, healthcare, financial services, sport and entertainment. Guided by a vision to lead the next generation of AI applications and unlock global value, SCAI empowers the future of AI through best-in-class partnerships, targeted investments, and the development of world-class capabilities.
