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Saudi Arabia is becoming a hot spot for global technology manufacturing with sustainable practices in mind. Here's how.
Saudi Arabia's ambitious Vision 2030 transformation has already brought significant change and growth to the nation's economy and society, with technology, tourism, and sports gaining global attention. Now Saudi Arabia has set its intentions on advanced manufacturing, and one company, Alat (Arabic for "machine"), is taking the lead to make the country a new global center for advanced and sustainable industry.
Driven by a $100 billion investment from Saudi Arabia's Public Investment Fund (PIF), Alat was founded to become a world-class enterprise focused on developing electronics and advanced industrial production in Saudi Arabia, while pioneering industry 4.0 technology and the use of clean energy in manufacturing.
AI and industry 4.0 technology presents an unprecedented opportunity for manufacturers to transform their operations. The market for industry 4.0 technology is expected to reach $327.8 billion by 2030, as manufacturing companies deploy AI, robotics, and other technologies for automation, increased efficiency, and other benefits. At the same time, manufacturers are looking to improve sustainability in their operations, and are looking for greater resilience and flexibility in their supply chains.