Saudi Arabia Corporate Firms are Hesitant to Embrace Artificial Intelligence as of 2020 Despite the Numerous Benefits

Abstract

The modern world has experienced numerous advancements, particularly in the Artificial Intelligence (AI) sector which is slowly shaping the mode of business in Saudi Arabia. This research paper focuses on why there has been hesitation in the establishment of AI in Saudi Arabia firms despite the numerous potential advantages of AI. Saudi Arabia has, in recent times, undergone diversification in its economy. Its AI is experienced in the sectors such as robotics, industry, finance, and banking, especially in forecasting and improvement of business processes alongside provisions of solutions to complicated functionalities. However, AI is halfway implemented in the country due to various constraints explored in this publication. This research article examines companies hesitant to invest in AI and elaborates on its deployment in companies in Saudi Arabia to utilize such technologies in entire sectors. Moreover, our research also analyzes the total investment associated with AI to realize the desired change in the organizational operating activities. Our primary research involved over 2000 senior executives regarding the adoption of AI, the firm’s prospects for deployment, and its effects on the markets, governments, and persons. The results of this study showcase that the new AI generation is primarily based on the digitalization platform. Lastly, it is noted that AI deployment and acquisitions require a large number of funds hence forcing struggling firms to evade its adoption.