Riyadh, Saudi Arabia--The Center for the Fourth Industrial Revolution in Saudi Arabia (C4IR KSA), affiliated with the World Economic Forum (WEF), and Yokogawa Saudi Arabia Company, on Monday signed a memorandum of understanding to develop governance policies for application of the fourth industrial revolution in the industrial sector.
Signed on the sidelines of LEAP 23, the MoU aims to develop frameworks and policies for the governance of the fourth industrial revolution technologies in the industrial sector, based on the methodology followed by the WEF’s Center for the Fourth Industrial Revolution network, SPA reported.
Under the memorandum, the two sides undertake to supervise the pilot studies of the projects and assess the participation of other entities in the kingdom, such as the public and private sectors, and academic and research institutions, in the implementation of projects.
They will also share technical information and data in the areas of technology and provide information to achieve efficiency in integrated and sustainable management in the industrial sector. The scope of experience sharing and testing of policy frameworks is limited to small and medium enterprises (SMEs) in the Kingdom.
C4IR KSA is a platform for developing policy frameworks and protocols for implementing the fourth industrial revolution to promote the adoption of emerging technologies to the benefit of the Saudi society, accelerate the development and application of science and essential technology governance principles, policies, and protocols to serve the Saudi Vision 2030.
