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　　Abdullah Alswaha, Minister of Communications & Information Technology

　　Minister of Communications & Information Technology Abdullah Alswaha said the Saudi digital economy advanced from $111 billion in 2021 to $123 billion in 2023, with a growth rate of 10.3%.

　　Addressing LEAP 2024, the Minister indicated that technological forces grew from 200,000 to 350,000 in 2023. Meanwhile, during the same year, venture capital investments reached $1.38 billion, growing 33% year-on-year (YoY).

　　The Kingdom has made huge strides in digital transformation. It has grown to become the world’s largest success story in the technology field, said the Minister.

　　He stated that Saudi Arabia seeks to change the region and the world through development in the technology field. The Kingdom is considered the largest digital market in the region with about $50 billion, representing a regional market share of about 40% and more than 52% in venture capital.

　　Alswaha also revealed that Saudi Aramco has launched the world's first generative artificial intelligence model in the industrial sector, supported by data spanning 90 years.