May 21, 2024
Business Saudi Arabia

IBM To Invest $200 Million In Riyadh Software Lab

Investment Holds The Promise Of A Brighter Future

IBM has announced plans to invest $200 million in a new software lab in Riyadh, the capital of Saudi Arabia.

This strategic move underscores IBM’s commitment to expanding its investments in the Middle East region and supporting the goals outlined in Saudi Arabia’s Vision 2030.

The state-of-the-art IBM software lab, slated to be established in Riyadh, will be a hub for accelerating digital innovation, product development, and management.

The lab aims to foster collaboration and knowledge exchange by focusing on data, AI, and sustainability software. It strongly emphasizes skills building and job creation for young IT professionals within Saudi Arabia’s growing technology sector. This investment promises a brighter future, new opportunities, and a thriving IT industry.

The IBM investment promises a brighter future, new opportunities and a thriving IT industry.

This landmark initiative was announced in Riyadh, where Abdullah Alswaha, Minister of Communications and Information Technology in Saudi Arabia, discussed it with Arvind Krishna, Chairperson and CEO of IBM.

Decision Lauded

Alswaha hailed IBM’s decision to establish an international software lab in Saudi Arabia as a testament to the Gulf nation’s achievements in the ICT industry, predicting that it would propel the country further towards becoming a global technology hub.

Krishna Alswaha’s sentiments stress the new software lab’s pivotal role in driving innovation and delivering value to IBM’s global clientele. He underscored IBM’s commitment to the country’s digital transformation journey and expressed confidence in the lab’s potential to accelerate AI-driven innovation and business models.

This announcement follows IBM’s declaration of inaugurating its new regional headquarters in Riyadh, reinforcing its longstanding presence in the country since 1947.

With operations spanning more than 170 countries, IBM’s decision to establish the software lab in Riyadh marks a significant milestone in its mission to contribute to Saudi Arabia’s ascendancy as a global leader in technology.

This achievement is a testament to Saudi Arabia’s growing influence in the global technology landscape, a source of pride for the nation.

The planned IBM software lab in Riyadh will join a prestigious network of IBM software labs worldwide, including those in the United States, Canada, India, and Europe. This will further solidify IBM’s position as a pioneering force in digital innovation and technology advancement.

Featured image: The planned IBM software lab in Riyadh will join a prestigious network of IBM software labs worldwide. Credit: Hala Aghanim

Last Updated on 2 weeks by Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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