AI can add trillions of dollars to global economy in next decade: Al-Ibrahim

Faisal Al-Ibrahim, Minister of Economy and Planning

Saudi Arabia’s Minister of Economy and Planning Faisal Al-Ibrahim stated that artificial intelligence (AI) could contribute trillions of dollars to the global economy in the next decade.

Speaking at the World Economic Forum's special meeting in Riyadh, Al-Ibrahim explained that adopting AI will change how people work and live, paving the way for new industries. He emphasized that the benefits of AI should be accessible to everyone, and its risks carefully managed.

The minister also mentioned the need for a global economy that benefits everyone, and where every country has the chance to prosper regardless of its wealth or status. This involves investing in human skills, education, and well-being.

Al-Ibrahim noted that global economies face not only unprecedented challenges but also great opportunities. He highlighted three key factors for long-term progress, inclusive growth, availability of energy for development, and international cooperation.