Saudi Arabia's Minister of Industry Embraces Tech Transformation for Efficient and Cost-Effective Production
Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Alkhorayef, expressed the Kingdom's interest in the technological transformations that have taken place in the industrial sector globally over the past 25 years.
He emphasized that size is no longer a limiting factor, and production can now occur at smaller volumes.
Adopting technologies, according to Alkhorayef, will enable business owners to produce efficiently at a low cost.
He also highlighted the opportunities for Saudi Arabia to adopt new technologies and grow its industry and mining sectors amidst the global technological disruption.
These remarks were made during a session titled "Conflict between Industry and Technology" at the World Economic Forum in Riyadh.
The Saudi Arabian minister emphasized the importance of adopting technology and training workers to ensure safety.
Technological advancements have improved the effectiveness of training processes.
The use of artificial intelligence in virtual reality can boost learning by 80%.
Saudi Arabia is relying on "Alat" company, announced by Prince Mohammed bin Salman, to produce final products and develop technology locally instead of importing it.
The company plans to collaborate with international bodies and invest in major industrial companies.