Kuwait city: Aljarida newspaper and Ooredoo Fintech launched their fourth summit in Kuwait to discuss investment opportunities in data centers, financial, medical, and real estate technology.
According to Kuwait News Agency, Nasser Al-Otaibi, editor-in-chief of Aljarida newspaper, emphasized the organization's dedication to staying up-to-date with the latest developments in financial technology in his opening speech. Al-Otaibi highlighted that this year's summit is particularly timely as the focus shifts towards artificial intelligence and the opportunities it creates in the economic sector.
Al-Otaibi elaborated on the potential of artificial intelligence to drive economic growth and enhance the efficiency of productive and service sectors. He noted its powerful capability to analyze vast amounts of data with speed and precision, thereby influencing economic decision-making, predicting market trends, and identifying new investment opportunities. Furthermore, artificial intelligence is instrumental in automating industrial and commercial processes, reducing costs, and boosting productivity. It also plays a crucial role in financial protection by improving risk management, detecting fraud, and fostering innovation for a more sustainable digital economy.
Al-Otaibi acknowledged the challenges accompanying technological advancements, particularly in retraining the workforce and upgrading digital infrastructure. He stressed that the global and local economies are evolving, whether by necessity or initiative, potentially leading to the emergence of new sectors and job opportunities.
Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait, discussed the company's strategic cooperation agreement with NVIDIA, aimed at introducing artificial intelligence. This collaboration is set to enable the group's data centers to offer GPU services, marking a significant step toward establishing Kuwait's first sovereign AI data center. Al-Babtain expressed the company's ambition to work with NVIDIA to develop university curricula that cultivate a new generation benefiting Kuwait.
Chief Technology Officer Issa Haidar shared Ooredoo's vision of transforming from a telecommunications company into a national platform for intelligent computing. By incorporating NVIDIA technologies, Ooredoo's data centers are poised to support the local development and operation of smart applications, ushering in a new era of operational efficiency, innovation, and sustainability in digital services.
The summit featured 11 main sessions with attendance from over 24 leaders from Gulf countries and the United States, as well as participation from major companies, pioneers, and specialized investors.