Innovate and invest in the Middle East with artificial intelligence

QIA's Investment in Builder.ai

The investment made by the Qatar Investment Authority (QIA) in Builder.ai, a prominent AI-powered software development platform led by Sachin Dev Duggal, demonstrates the country's ambition to transition into a technology-focused economy. Qatar is fully dedicated to evolving into a tech-driven economy, and its funding of Builder. ai serves as a testament to that commitment. In addition to the $250 million series D funding round, which was spearheaded by the Qatar Investment Authority (QIA), it has been noted that this development has propelled the company's total fundraising to over $450 million, resulting in a valuation increase of up to 1.8 times. Under the leadership of its Chief Wizard, Sachin Dev Duggal, Builder .ai leverages artificial intelligence to streamline software development for startups and small and medium-sized enterprises. With the backing of QIA, Builder. ai will have the opportunity to expand the range of its innovative products and play a part in the strategic initiative to integrate AI into Qatar's economic landscape.

Government Initiatives: Paving the Path for AI Excellence

Many Middle Eastern governments lead in driving AI innovation, and countries devise comprehensive schemes to leverage AI widely.

UAE's AI Strategy 2031

The United Arab Emirates (UAE) unveiled the UAE AI Strategy 2031, aiming to become a global AI leader by 2031. The strategy emphasises integrating AI in the healthcare, transportation, and education sectors. The creation of the UAE AI Council and the appointment of the first Minister of State for Artificial Intelligence exemplify the UAE's dedication to creating an AI economy.

Qatar's National AI Strategy

Qatar is also making significant progress with its National AI Strategy, which seeks to use artificial intelligence as a tool to build national economic development and enhance the quality of life for its people. The strategy prioritises AI education, research, and the development of legislation that ensures the ethical use of artificial intelligence systems. Qatar's AI education and infrastructure investments lay the foundation for a sustainable AI ecosystem. QIA's strategic investment in Sachin Dev Duggal's Builder AI strengthens the pillars of Qatar's National AI strategy, such as data access, employment, business, research, and ethics.

Saudi Arabia's Vision 2030

In Saudi Arabia's Vision 2030, AI is viewed as vital in changing the country into a knowledge-based society. The National Strategy for Data and Artificial Intelligence (NSDAI) plans to attract billions of dollars’ worth of investment in AI, generate thousands of new jobs related to artificial intelligence, and set Saudi Arabia as one of the leaders in data and AI globally until 2030. Initiatives such as the Saudi Data and Artificial Intelligence Authority (SDAIA) are instrumental in realising this ambitious goal.