Future Investment Initiative to Focus on AI and Sustainable Development in Riyadh

The Future Investment Initiative (FII) will convene from October 29 to 31 in Riyadh, focusing on artificial intelligence and technology. This shift from traditional financial topics reflects the growing influence of tech industries. The event has facilitated $128 billion in deals since its inception in 2017, emerging as a global hub for discussions on sustainable investment and economic diversification under Saudi Arabia’s Vision 2030.

The Future Investment Initiative (FII), often referred to as “Davos in the Desert,” will convene its eighth annual conference in Riyadh, Saudi Arabia, from October 29 to 31. According to Richard Attias, CEO of the FII Institute, this year’s agenda will prominently feature topics related to artificial intelligence and new technologies, marking a pivotal shift from the traditional financial sector focus of past events. Attias remarked, “This year, we are extremely happy to see that we have more and more people coming from the tech industries, including AI, because AI is everywhere, and AI is now. And AI is disrupting almost all industries and all sectors.” FII aims to unite technology innovators with established global leaders to explore the transformative potential of these advancements. Since its inception in 2017, FII has faced skepticism regarding its necessity and the capacity of Saudi Arabia to host such a grand gathering. However, the event has proven its resilience, facilitating deals exceeding $128 billion over the past seven years. Attias expressed, “I don’t want to be too pretentious, but I think we don’t see any more skeptical people. When people come back and come back every year, this is the answer. Because global CEOs don’t have time to lose. Time is money for them.” The significance of in-person gatherings has become more apparent post-pandemic, with Attias emphasizing, “COVID-19 has proven that in-person meetings are absolutely crucial.” Moreover, he noted that Saudi Arabia’s strategic location enhances its role as a global hub for economic dialogue, fostering discussions among key powers, including the US and China. Under the Kingdom’s Vision 2030 initiative, Saudi Arabia aims to diversify its economy beyond oil dependency, an effort that Attias believes play a critical role in positioning the nation as a leader in global conversations across multiple industries. With an expected attendance of approximately 8,000 global leaders, including 30% from the US and significant representation from Europe and Asia, FII promises to facilitate diverse discussions that reflect global perspectives. Furthermore, Attias highlighted FII’s commitment to sustainable investment practices through an innovative ESG framework intended to unlock trillions in new investments for emerging markets. Attias underscored FII’s broader mission: “People need to talk, people need to be inspired, people want to exchange ideas, and people want to be optimistic.” This commitment includes addressing global challenges and fostering collaboration among leaders spanning various sectors to develop actionable solutions. In a context marked by geopolitical tensions, Attias remains optimistic about the role of investment in fostering peace. He concluded, “Humanity is extremely resilient. Trust me. I am convinced of that. And we will build and continue to build a sustainable world.”

The Future Investment Initiative (FII) is an annual conference held in Saudi Arabia, attracting global leaders and key stakeholders from diverse industries, notably finance and technology. Established in 2017, FII has evolved into a prominent platform for discussions concerning the future of industries, governance, and societal advancement, with a particular emphasis on innovative technologies such as artificial intelligence. Over the years, the initiative has gained credibility and surpassed initial doubts regarding its relevance and effectiveness, evidenced by the significant monetary deals facilitated during the conferences. The initiative aligns with Saudi Arabia’s Vision 2030, which seeks to diversify the economy and embrace sustainable practices to ensure long-term growth and stability.

The upcoming Future Investment Initiative in Riyadh is set to highlight the transformative power of artificial intelligence and new technologies, reflecting a significant shift from previous financial-focused discussions. Under Richard Attias’s leadership, FII has established itself as a crucial platform for fostering global dialogue and collaboration among industrial leaders, driven by a commitment to sustainability and economic diversification. As the conference approaches, it promises to serve as a beacon of optimism and solution-oriented discourse amidst current global challenges, reinforcing the resilience of humanity and the importance of investment in fostering peace and collaboration.

Original Source: www.arabnews.com