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Thndr Claps » Saudi Claps » Tadawul 🔔 » Aramco splurging on the digital economy 🤖

Aramco splurging on the digital economy 🤖

by Omar El Shorafa
January 30, 2023

The Clap
Amin Nasser, CEO of Saudi Aramco (2222), revealed the launch of Aramco Digital, a new initiative in the company’s digital transformation.

What
The aim of establishing Aramco Digital is to strengthen Aramco’s leadership in AI in the energy sector, lead digital innovation in the Saudi industrial sector, and develop the local digital economy through partnerships, joint ventures, and investments.

So What
Nasser announced that Aramco plans to invest $1.9 billion in the digital field over the next three years, the company’s largest investment in this sector to date.

Now What
Aramco signed more than 100 agreements and MoUs worth around SAR 27 billion ($7.2 billion) during the seventh edition of its “Iktva” program to develop a globally competitive, diversified, and sustainable industrial system.

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