Saudi Aramco has signed a non-binding Memorandum of Understanding (MoU) with Samsung Electronics Co., Ltd., which sets forth preliminary plans for a strategic collaboration that would localize an industrial 5G technology ecosystem, starting with private networks, in the country.
This, in turn, would facilitate digital transformation in Saudi Arabia, Aramco said in a statement. Further, the proposed collaboration aims to contribute to the digital transformation of various industrial sectors in Saudi Arabia, such as energy, petrochemical, and manufacturing, by leveraging advanced 4G and 5G technologies capable of providing secure, fast and reliable communications to satisfy business critical requirements of industries.
The companies intend to help realize advanced industrial 5G use cases with mission critical communications. It follows the recent launch of Aramco Digital Company, which aims to accelerate digital transformation within the Kingdom, and the Middle East and North Africa (MENA) region.
Earlier this year, Saudi Aramco announced a strategic partnership with Zoom and an increase in funding for Wa’ed Ventures, a development which is expected to accelerate digital transformation in the Kingdom. As a part of this initiative, a data center is expected to connect to the Zoom global data center network. This will serve Saudi Arabia and the region.
Data Center and Cloud Services Market is expected to grow at a double digit positive CAGR during 2021-2026 time frame as emergence of 5G technology in KSA is likely to grow the adoption of IoT-enabled products in the KSA market further contributing to the development of data centre industry. A strong government support, rising awareness and surge in the data is expected to create higher demand for cloud services.
NEOM represents the emblem of how the Saudi Arabia envisions AI’s future and its own. Worth a $500 billion (USD) investment by the Saudi Public Investment Fund (PIF), the project consists of a futuristic city spanning from Saudi Arabia, Egypt and Jordan. The metropolis will fully integrate AI, robotics and the Internet of Things (IoT) in every aspect of human life.
NEOM is projected to be a hub of innovation in a number of vital sectors for Saudi Arabia’s economy, such as energy, water, biotech, health and food; innovations to be fully empowered by AI. Vision 2030 encompasses a full-scale transition of its economic and public structure towards a new era of AI-driven governance.