EC News DeskGlobal data and digital consulting leader Artefact is strengthening its presence in MENA with a new office in Riyadh, Saudi Arabia. One of the largest and fastest growing economies in the region, the Kingdom of Saudi Arabia has a big data and artificial intelligence market valued at $164.98 million in 2020. This is expected to reach $891.74 million by 2026, registering an annual growth of 32.6% over five years.
Artefact has been operating in the MENA region from its base in Dubai, United Arab Emirates, since 2013, working with private and public sector clients on their data and AI led transformation programs.
The company’s key offerings include: data vision and strategy, the AI Factory, big data platform implementation, large scale data governance programs, and data marketing programs. Artefact also has global partnerships with big data infrastructure providers and data platforms, including Google, Microsoft and Amazon.
Artefact’s new office in Saudi Arabia will be an integral part of the company’s global network, which includes operations in Africa, the Americas, Asia, Europe and the Middle East. Artefact will bring its data and AI related practices, innovations, talent pool and partnerships to the Kingdom. It will also invest in local talent to develop the varied skill sets needed for the next-generation AI-driven economies, with roles including consultants, data scientists, big data engineers and machine learning engineers, and data architects.
Saudi Arabia’s Vision 2030 strategic framework is responsible for much of this growth. With business and governance transformation at its core, data, technology and AI will help public and private sector organizations across business sectors realize a new way of working. Around 70% of Vision 2030’s 96 strategic goals relate to data and AI, with AI expected to contribute over $135.2 billion to the Kingdom’s economy by 2030, the equivalent of 12.4% of GDP.
Rahul Arya, Managing Partner of Artefact MENA, says: “As the Kingdom of Saudi Arabia looks to a new and exciting phase in its growth led by economic and social transformation, this is an inspiring time for Artefact to strengthen our on-ground presence there. It will be one of our key focus markets in the years to come and we are committed to making significant investments that will bring our cutting edge workforce and data and technology-led innovations to our clients and partners in the Kingdom. We see plenty of potential for our data and AI expertise as public and private sector enterprises look to accelerate their journeys to realize their new visions.”
Vincent Luciani, co-founder and CEO of Artefact, says: “Thanks to its rapidly expanding economy, Saudi Arabia is a serious proposition for any growing global business, and Artefact is delighted to be firming up its foothold in the country. With our global expertise and years of relevant experience, combined with our knowledge of the region, we expect to become partners with several clients in the Kingdom as they undertake their data and AI transformation journeys.”
