In this episode, we dive into the remarkable experiences and groundbreaking announcements from LEAP 2024 held in Riyadh, Saudi Arabia. With an overwhelming turnout of over 215,000 attendees and a staggering $13.4 billion in investments, the event showcased Saudi Arabia's ambitious drive to become a global digital leader. Underpinning this transformation is the Vision 2030 initiative, aimed at diversifying the economy beyond oil through significant investments in technology sectors, including AI, which is expected to contribute 15% to the GDP. Highlights include the government's substantial support in attracting tech giants like AWS, Cisco, Dell, IBM, and ServiceNow, who announced major projects like regional cloud services, data centers, and local manufacturing. The event also spotlighted local innovation, with significant investments in Saudi startups and the development of advanced technologies like Aramco's METABRAIN LLM. LEAP 2024 not only reflects Saudi Arabia's technological ambitions but also poses questions about the impact of such government-led initiatives in reshaping the global tech landscape.
I've just returned from an incredible experience at LEAP 2024 in Riyadh, Saudi Arabia, and I can't wait to share my thoughts and observations with you.
Let me tell you, I've been to my fair share of tech conferences, but nothing quite compares to the scale and ambition of LEAP 2024. This event was massive, with over 215,000 attendees and $13.4 billion in investments and projects announced. It's clear that Saudi Arabia is trying to make a bold statement about their intentions to become a digital powerhouse.
But before we dive into the event details, let's take a step back and look at the bigger picture. Saudi Arabia's Vision 2030 is a sweeping plan to diversify their economy and reduce dependence on oil. And from what I saw at LEAP, they're betting big on technology to make that happen. AI alone is supposed to become 15% of the GDP. Not even sure how you measure that.
There were many tracks at LEAP like Ai, automation, supply chain, infrastructure, edutech, health tech, cybersecurity, cloud, well, really every tech buzzword.
One thing that really stood out to me was the level of government involvement and support for the event. It's obvious that their government sees technology as a critical part of their future. They're pulling out all the stops to attract global tech giants and investors to their shores, or rather sands.
But the question on everyone's mind was this: will this strategy work? Can government intervention on this scale really disrupt the status quo and help emerging markets like Saudi Arabia compete with the global north in AI and other advanced technologies? Honestly, it's too early to tell.
That being said, the investments and announcements made at LEAP were nothing short of staggering. Major players like AWS, Cisco, Dell. IBM, and ServiceNow pledged billions to establish cloud infrastructure, data centers, and regional headquarters in Saudi Arabia. And that's just the tip of iceberg or rather the sand.
- AWS will spend $5 Billion to create a new regional cloud
- Dell and HP announced ocal manufacturing and distribution centers
- IBM is creating a regional software development hub
- Datavolt, a local company, announced $5 billion to build major data centers
- Servicenow and others committed to localizing their products and reskilling local developers
I was also impressed by the focus on local innovation and entrepreneurship. LEAP saw the launch of several venture capital funds and initiatives aimed at supporting Saudi startups. It's clear that they're not just trying to attract foreign investment, but also create a homegrown startup culture.
Another aspect of LEAP that caught my attention was the emphasis on emerging technologies like AI and robotics. Saudi companies like oil giant Aramco are developing their own large language models, such as the METABRAIN LLM for industrial applications. It's a sign that they're not content with just being users of global technology, but want to be creators as well.
As I reflect on my experience at LEAP 2024, I can't help but be impressed by the sheer scale and ambition of what Saudi Arabia is trying to achieve. They're making a bold play to transform their economy and society through technology, and they're backing it up with serious investment and government support.
But will it be enough to disrupt the global balance of technological power? Only time will tell. What I can say is that LEAP 2024 was a fascinating window into the digital aspirations of an emerging power, and I'll be watching closely to see how this story unfolds.
Host: Well, that's it for today’. Thanks for joining me on this journey through the cutting-edge world of LEAP 2024. Talk Soon.