LEAP Tech Conference 2024 would bring in technological investments amounting to $11.9 billion to Saudi Arabia

According to Eng. Abdullah Al-Swaha, Minister of Communications and Information Technology, Saudi Arabia has advanced significantly in its digital transformation. He said that $11.9 billion in technology investments will be made at the LEAP Tech Conference in 2024. "The largest of its type in the region, these investments would assist innovation, cloud computing, deep and new technologies, both in Saudi Arabia and globally. 

Under the theme "New Horizons," the minister made this statement on Monday at the opening of the third LEAP Tech Conference 2024, which was held at the Riyadh International Convention & Exhibition Centre. According to a press release released by the conference organising committee, the new investments will help solidify the Kingdom's position as the largest market and digital economy in the Middle East and North Africa (MENA) for top technology companies like IBM, Datavolt, Amazon Web Services, and ServiceNow. The funds will be used to help tech start-ups and enhance Saudi Arabians' digital abilities. 

As per the press release, Amazon Web Services declared a $5.3 billion investment in a new cloud zone located in Saudi Arabia on the first day of LEAP 24. A $5 billion investment by Datavolt in Saudi data centres with a capacity exceeding 300 megawatts was also revealed.

IBM intends to establish a worldwide software development centre in the Kingdom with a $250 million investment. In order to localise its regional services in Saudi Arabia and to upskill and train Saudi talent, ServiceNow is investing $500 million. The first manufacturing and fulfilment facility of its sort in the Middle East and North Africa (MENA) will open by Dell in Saudi Arabia.

Aramco declared the Saudi Accelerator Innovation Lab (SAIL) to be launched. In order to advance Saudi Arabia's digital capabilities and introduce the "Metbrain" GenAI concept, Aramco and MCIT jointly established SAIL. Additionally, Aramco LLM—the first industrial-grade GenAI in the world—was introduced.

To develop, upskill, and teach Saudi talent, Uipath announced the opening of its first automation school in the area, and Datadog will open the first cloud application security solutions academy in the Kingdom. 

Over 1,100 speakers, including prominent personalities from across the world as well as professionals and specialists in the field of technology, will join their Saudi counterparts for the four-day conference, which is anticipated to draw in a sizable crowd of over 200,000 attendees.

A number of new theatres and platforms are also a part of the Leap conference; these include the startup firm, the Ministry of Information's theatre, Space, Games, and the digital entrepreneurship platform "Code." It also features contests with awards surpassing $1 million specifically for fledgling businesses. LEAP Award, Rising Star, Aviatrix, Technology for Humanity, New Horizons, and Artificial Intelligence are among the competition's various categories.