The Minister of Industry and Mineral Resources of Saudi Arabia, Mr. Bandar bin Ibrahim Alkhorayef, emphasized during his participation in the “GREAT Futures” conference that adopting technologies related to the Fourth Industrial Revolution is essential for achieving industrial transformation in the Kingdom. These technologies are crucial in increasing production, fostering innovation, and supporting entirely new business models, as they have become more accessible and widespread, contributing directly to enhancing economic growth.
He elaborated during his participation with the British Minister for Business and Trade, Kimmy Badenoch, in a roundtable discussion on “Accelerating Industrial Progress” at the GREAT Futures Initiative conference, hosted by the Kingdom as part of the Saudi-British Strategic Partnership Council. He highlighted that transitioning to adopting modern manufacturing technologies requires developing the workforce and equipping them with new skills to keep pace with rapid technological advancements like artificial intelligence, big data, fifth generation technology, and Internet of Things.
Alkhorayef stressed that investing in human capacity development is fundamental to enhancing competitiveness in the industrial sector in the Kingdom. He mentioned that the Ministry of Industry and Mineral Resources has trained over 50,000 employees in significant areas in collaboration with the private sector. He also considered that new initiatives such as the National Academy for Industry, Automotive, and a partnership with Porsche Academy will significantly contribute to providing the industrial sector with qualified and highly skilled national workforce.
