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Al-Ibrahim says Saudi Centre for the Fourth Industrial Revolution will lead the country’s endeavors in providing solutions to global challenges.
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Use of 4IR solutions exposed gap between the leading economies and the rest of the world.
Dubai: The catalyst for economic growth could be seizing the opportunities that exceed $3 trillion in value over the next five years and the multiplier effects resulting thereof, Saudi Arabia’s Minister of Economy and Planning Faisal Al-Ibrahim has said.
Al-Ibrahim said there is a lesson from the Covid-19 that the use of solutions based on the Fourth Industrial Revolution (4IR) revealed the reality of the widening gap between the leading economies and the rest of the world, according to local media reports.
He said the kingdom still has a lot to do to rise in the Global Innovation Index and planned to be in the leading position among its counterparts in the G20.
To achieve these goals, the Saudi Centre for the Fourth Industrial Revolution will lead the country’s endeavors in providing solutions to global challenges with the momentum and potential of Saudi Arabia’s vision and its impact locally and globally.
“The center should take advantage of these possibilities, to become a center for work on discovering, discussing and providing comprehensive solutions to global challenges as well as local challenges that are of the same level of importance,” the minister said.
He added that the pandemic has created an intense need for data and established evidence-based policies through innovative technical solutions.
He said the said the epidemic has “become an enabler for the accelerated development of leading technologies” and the best evidence of this is the global market outlook such as UNCTAD’s recent report that predicted the market for leading technologies would become $3.2 trillion in 2025, a jump of nearly 10 times than the levels of 2018.