DAVOS: Saudi Minister of Investment Khalid Al-Falih told Davos that the artificial intelligence “race is on,” with the Kingdom determined to use its diplomatic reach while preserving strategic “optionality.”
Speaking on Tuesday’s “AI Power Play, No Referees” panel at the World Economic Forum, Al-Falih described AI as “truly the transformation of this century,” but warned that it will soon be commoditized and not monopolized by any single company or country.
He stressed the need for global diffusion, saying: “The essence of AI’s power is that it has to be accessible. So the word ‘diffusion’ is not just within economies that have to compete, but I believe it has to be done globally.”
While acknowledging the US lead, Al-Falih said optionality is critical. “We don’t know who’s going to be ahead four or five years from now,” he said, adding that the Kingdom reserves the right for optionality amid shifting dynamics.
Riyadh has emerged as a global AI player, buoyed by its huge Davos delegation and heavy investments in technology and supporting infrastructure. Low energy costs — a factor that has driven human development worldwide — position Saudi Arabia uniquely, Al-Falih said, with renewables poised to power AI data centers as part of the Kingdom’s diversification strategy.
