Saudi Crown Prince Unveils AI Company to Boost Economic Diversification

DUBAI, United Arab Emirates – Crown Prince Mohammed bin Salman launched a new company on May 12 to develop and manage artificial intelligence technologies in Saudi Arabia. This initiative is a key part of the kingdom’s efforts to diversify its economy beyond oil.

As U.S. President Donald Trump travels to Saudi Arabia this week, AI is set to be a focal point during the joint Saudi-U.S. investment forum scheduled for May 13 in Riyadh. The discussions come as the kingdom, the world’s largest crude exporter, undergoes a significant economic transformation under its Vision 2030 program.

The Vision 2030 initiative aims to reduce the country’s reliance on oil exports and create new industries, with a strong emphasis on developing AI technology and infrastructure, including data centers. Saudi Arabia is positioning itself as a potential global hub for AI, eager to establish a reputation outside the United States.

The newly formed company, named Humain, will operate under the Public Investment Fund and will provide AI services and products, including data centers, cloud capabilities, and sophisticated AI models. Crown Prince Mohammed bin Salman, the de facto leader of Saudi Arabia, will chair the new venture.

Earlier this year, Salesforce announced plans to invest $500 million in AI-related projects in Saudi Arabia, highlighting the growing interest in the kingdom’s technological aspirations. This investment aligns with the kingdom’s goal to become a leader in the AI sector.

Saudi Arabia continues to embrace technological advancements as it looks to reshape its economy and attract global partnerships.