TOP AI GOVERNMENT FUNDING ACROSS THE WORLD |
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tablishing 300 AI companies within 36 months . The first batch attracted entrepreneurs and startups from various countries , including Taiwan , South Korea , Sweden , Poland and the United States , according to media reports . All participants were required to register a legal entity in the kingdom and allocate 50 % of their investment locally .
Less than a year later , the Saudi government raised the stakes , announcing an additional $ 1 billion injection into the GAIA ecosystem , while New Native unveiled plans to create a $ 100 million fund to support AI startups across the region .
The next month , The New York Times revealed the Saudis ’ intention to launch , in partnership with Andreesen Horowitz , a $ 40 billion investment fund dedicated to AI technologies . Far above the typical amounts raised by US venture capital firms , this vehicle would position Saudi Arabia ’ s sovereign wealth fund , PIF , as a major force in the global AI industry .
BET ON EDUCATION AND RESEARCH
Saudi Arabia is likewise committed to fostering AI in its education system . The Ministry of Education ' s automation and technology programme
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has trained over 30,000 students in AI and programming principles in recent years , according to SDAIA .
Furthermore , since 2023 , the King Abdulaziz Scholarship Program has helped young Saudis study AI at premier international universities . AI expert Abdo Farouk Al-kattan told WEJ that more than 5,000 Saudis were to study AI-related disciplines at institutions such as MIT , Stanford and Cambridge . The plan started in 2023 and is still ongoing .
King Abdullah University of Science and Technology ( KAUST ), Saudi Arabia ’ s leading research institution , is drawing foreign AI experts and offering computing resources to establish itself as a major hub for AI research . To lead its AI programme , the university has recruited Jürgen Schmidhuber , a prominent figure in the global AI research community .
The King Abdullah International Medical Research Center ( KAIM- RC ) is utilising AI to analyse medical data and develop innovative treatment solutions . This organisation says it has published over 200 scientific papers on AI and medical technology and invested around $ 100 million in related R & D over the past three years .
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According to AIPRM , the US stands number one in government funding for AI , with almost $ 328 billion spent over five years ( 2019-23 ). A 2019 Executive Order established the ‘ American AI Initiative ’ with the stated goals of promoting " American Innovation , American Industry , the American Worker , and American Values ." The next year , the Congress passed the National AI Initiative Act , allocating substantial funding to support AI research , education and standardisation .
In China — number two in terms of government funding with some $ 195 billion in 2019-23 , according to AIPRM — a national AI Development Plan aims to turn the country “ into a major global AI innovation centre ” by 2030 . The scale of its AI core industry is expected to exceed one trillion yuan ( approximately $ 141 billion ) with the related industries surpassing 10 trillion yuan , according to official sources .
The European Union also wants to become a world-class hub for AI . Focusing on AI research , innovation and ethics , the EU ’ s AI Strategy , adopted in 2018 , aims to invest € 20 billion annually between 2020 and 2030 . In 2021 , the Commission ' s AI package focused on fostering a coordinated European approach to AI , and developing regulatory and impact assessment frameworks . Additionally , in January 2024 , the Commission launched an AI innovation package in support of startups and SMEs .
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PHOTO : JOHNNY GREIG / GETTY IMAGES |