KUWAIT, Nov 2 (KUNA) - Aljarida newspaper and Ooredoo Fintech launched Sunday their fourth summit in Kuwait to discuss investment opportunities in data centers, financial, medical, and real estate technology.
In his opening speech, Nasser Al-Otaibi, editor-in-chief of Aljarida newspaper, said the organization of this event shows Aljarida commitment to keeping abreast of the latest developments in financial technology.
Al-Otaibi pointed out that this year's edition comes at a time when all eyes are turned to artificial intelligence to tap the opportunities is create, in the economic sector.
"We are looking at how to benefit from this unprecedented digital revolution, particularly in promoting economic growth and improving the efficiency of the productive and service sectors," he said. "The artificial intelligence, with its superior ability to analyze huge amounts of data with extreme speed and accuracy, has taken on the role of an auditor, encyclopedic expert, and plays a significant role in economic decision-making, predicting market trends, and discovering new investment opportunities, as well as being used to automate industrial and commercial processes, thereby reducing costs and increasing productivity." Al-Otaibi went on to say that artificial intelligence did not stop there, but extended to the field of financial protection, where it provides tremendous assistance in improving risk management and detecting fraud, as well as enhancing efficiency and innovation and opening new horizons for a more sustainable and competitive digital economy. "In light of these tremendous technological developments, the global and local economy are moving-whether by necessity or initiative-toward further transformation that is expected to pave the way for the emergence of new sectors and different job opportunities, but at the same time, it poses challenges related to retraining the workforce and upgrading digital infrastructure," he argued. CEO of Ooredoo Kuwait Abdulaziz Al-Babtain said in his opening speech that the company has worked on introducing artificial intelligence and benefiting from a strategic cooperation agreement with NVIDIA.
He explained that the agreement includes enabling the group's data centers to provide GPU services in a pioneering step towards establishing the country's first sovereign AI data center.
Al-Babtain expressed the company's goal to collaborate with NVIDIA to introduce curricula at universities to develop core foundation for building a new generation that serves to benefit Kuwait.
In a similar speech, Chief Technology Officer Issa Haidar explained that Ooredoo is transitioning from a telecommunications company to a national platform for intelligent computing, by enabling its data centers with NVIDIA technologies.
He added that this smart infrastructure enables Kuwait and its institutions to develop and operate their smart applications locally, and opens the door to a new era of operational efficiency, innovation, and sustainability in digital services.
The summit included 11 main sessions attended by more than 24 leaders from Gulf countries and the United States, with participation from major companies, pioneers, and specialized investors. (end) aab.fnk.sas