Saudi Arabia wants to diversify its economy beyond its giant oil industry and therefore seeks to exert more financial clout with a view to taking an active – and lucrative – part in what Riyadh sees as the Fourth Industrial Revolution.

Earlier this month, Abdulkareem Al-Ghamdi, Saudi Aramco Vice President for Power Systems, underlined the “clear connection” between robotics, artificial intelligence (AI), nanotechnology apps, computing and the internet of things (IoT). Citing the construction of the smart digital control center (iPower) in Dhahran, Al-Ghamdi emphasized the company’s commitment to Vision 2030 by “leading digital transformation in the energy industry.”

Along with several “strategic partnerships” with institutions and colleges focused on digital developments and innovations, Saudi Aramco deepened its business ties with US-based Raytheon Company (RTN) by establishing a joint venture company with its Saudi Arabia-based subsidiary.

“Demand for cybersecurity services is expected to grow as companies move further into the digital space and embrace technologies such as IoT and big data. The partnership with Raytheon will help strengthen cybersecurity and enhance its infrastructure in Saudi Arabia and the broader region,” said Saudi Aramco Senior Vice President of Finance, Strategy & Development Khalid H. Al-Dabbagh on December 14, 2018.

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