KSA-Based Startup Tamara Becomes The Newest Fintech Unicorn in the Kingdom With Its US$1 Billion Valuation
Fintech platform Tamara has made history by becoming Saudi Arabia’s newest fintech unicorn, achieving a valuation of US$1
Saudi Arabia’s Minister of Communications and Information Technology, H.E. Abdullah Alswaha, has launched the “Generative Artificial Intelligence (GenAI) for All” initiative.
This initiative aims to advance artificial intelligence (AI) research, policy governance, and ethical considerations within member states of the Digital Cooperation Organization (DCO). The DCO is a global intergovernmental organization dedicated to fostering digital prosperity by accelerating the inclusive growth of the global digital economy. The unveiling took place at the Third General Assembly of the DCO, held in Bahrain in January 2024. Spearheaded by the International Center for Artificial Intelligence Research and Ethics (ICAIRE), under the guidance of the Saudi Data and Artificial Intelligence Authority (SDAIA), the “GenAI for All” initiative is in line with the Kingdom’s commitment to digital transformation. It will support research and development (R&D) and governance policies for AI across the DCO’s member states.
H.E. Alswaha announced the initiative alongside high-level officials from the 16 member states. The program’s offerings will include global expansion, investment in AI projects, mergers and acquisitions, institutional maturity, and talent development. The DCO’s Third General Assembly Saudi Arabia Ranks Second Among G20 Nations in the Telecommunication and Technology Development Index 2023 The Kingdom of Saudi Arabia has secured second place among the G20 countries in the Telecommunication and Technology Development Index (TTDI) 2023, an annual ranking by the International Telecommunication Union (ITU). This ranking measures the development of the telecommunication and technology sectors across 169 countries. The TTDI evaluates a nation’s progress in communications and technology services through a series of sub-indicators, which are divided into comprehensive and effective communication axes. The index aims to gauge the strength of infrastructure and the ability to provide safe and effective communication for all. Saudi Arabia ranked at least 10 places ahead of the next G20 country in the 2023 edition of the index, highlighting the Kingdom’s robust communications and technology infrastructure, the wide availability of its services, and its concluded with a series of initiatives aimed at bridging the global digital divide and ensuring inclusive, sustainable growth of the global digital economy. During the event, the DCO Council introduced several initiatives, including the GenAI Center of Excellence, Online Content Integrity, and Data Embassy initiatives.
The next General Assembly of the DCO is slated to take place in Jordan in February 2025.
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