Artificial Intelligence (AI) is a rapidly evolving field with significant investment opportunities. In Saudi Arabia, several companies are making strides in AI, offering potential investment options for those interested in this sector. Here are some of the notable AI stocks in the Saudi Arabian market:
- Faceki: Faceki, which has offices in Bahrain and the United States, sells facial recognition software that is used to verify identities.
- QVALON: QVALON is another AI company that has recently received entrepreneurial licenses to operate in Saudi Arabia.
- Exxon Mobil, Total, and Shell: These companies operate in Saudi Arabia and already use AI as part of their operations for better productivity, transparency, and real-time data availability.
The Saudi Arabian Big Data and Artificial Intelligence Market size is estimated at USD 0.38 billion in 2024, and is expected to reach USD 2.19 billion by 2029, growing at a CAGR of 34.24% during the forecast period (2024-2029). Industries in Saudi Arabia are rapidly developing, mainly due to the growing adoption of data-based AI solutions and developments in machine learning, which boosts overall market growth opportunities.
Investing in AI stocks can be a strategic move, given the increasing integration of AI in various industries. However, as with any investment, it’s crucial to conduct thorough research and consider the risks involved.
Please note that this information is current as of March 2024 and may change over time. Always consult with a financial advisor before making investment decisions.
