Prime Minister Modi was there last month. US president Donald Trump was there last week, helping put together a number of business deals, including agreements for parties in the country to acquire tens of thousands of semiconductors from Nvidia and AMD.
Saudi Arabia is the cynosure of all eyes today, as Crown Prince Mohammed bin Salman, or MBS as many call him, seeks to transform the country into a modern, diversified economy that is less reliant on oil. Technology is a central element of that diversification. Under MBS’s Vision 2030 programme, the country is aggressively driving digital adoption across industries, attracting global talent, and trying to build an innovation-driven economy. Sectors such as banking, energy, tourism, gaming, and telecom are seeing rapid digitisation, supported by government-backed initiatives – such as the National Strategy for Data and AI, and the Cloud First Policy – and regulatory reforms that make it easier for companies and professionals to operate in the country. The $500-billion Neom project aims to build a futuristic city powered by AI, robotics, and smart infrastructure.
Saajan Lathif, who moved to Saudi Arabia from Bengaluru and who is CEO & founder of Alwosta Group, a tech consultancy firm, has seen the changes firsthand. “Ten years ago, Saudi Arabia was not very tech-forward. Under the leadership of MBS, the country’s vision has changed. It is probably the fastest growing tech scene in the world,” he says.
Growing cosmopolitanisation
This shift has also altered global perceptions of Saudi Arabia as a work destination. “When I first started recruiting, very few tech talent wanted to move here. Now, people from all over the world are coming for better job prospects. Safety is a big attraction,” Lathif says. Many of those coming are Indians. Saudi Arabia has eased business processes significantly. Setting up a company or securing a work visa used to take months, now it happens digitally in a fraction of the time.
Adil Murtaza, general manager of Tech Mahindra Arabia, has worked in Saudi Arabia for 20 years. Earlier, he says, the job market was inclined towards talent from the US. “Now, there is a desire to look for the best tech talent from India and Asian countries. There is a lot of respect for Indians now as more and more Indians are in white-collar jobs. A lot of Indian IT companies have moved here as well,” he says. Indians are also in leadership positions at major Saudi Arabian tech companies. DataVolt is a leading data centre operator, which during Trump’s visit committed to invest $20 billion in AI data centres and energy infrastructure in the US. Its leadership is predominantly Indian; its CEO Rajit Nanda is an MBA from Xavier Institute of Management, Bhubaneswar.
Finance sector transformation
The financial technology sector is one of the most buzzing areas of transformation. Saudi banks are fast adopting digital technologies, focusing on automation, AI-driven solutions, and customer-centric innovations. Sandeep Chiber, EVP of sales & Revenue at Aurionpro Solutions, a global banking technology solutions firm, says the Middle East is a key growth market for the company, with Saudi Arabia at its centre. “With Vision 2030 driving transformation, we’ve seen significant action around banking technology modernisation. We are enabling real-time cash and liquidity management, injecting AI into cash forecasting, and automating transaction banking, supply chain finance, and trade finance operations,” he says. Aurionpro has signed two major deals with leading Saudi banks. The fintech ecosystem is backed by initiatives such as Fintech Saudi, the Regulatory Sandbox, and the Open Banking Framework, which encourage innovation and new market entrants.
Radical social changes
A senior technology professional, who did not want to be named and who has worked in the kingdom for the last 15 years, notes that tourism, sports, energy, banking, and telecom sectors are all seeing major tech action. “Experiential retail is a big opportunity here, with malls and brands using technology to create virtual and on-ground engagement experiences,” he says. The social landscape, he says, has also changed significantly, making Saudi Arabia a more attractive destination for professionals. “There are malls and theatres, all cuisines are available, movies are now released on the same day as their global release. There are parks and amusement activities, and permitting women to drive has improved family mobility. You just need to respect the law of the land, and you can have a very good life here. Most importantly, it is secure – no knifing in markets or shooting in schools,” he says.
Saudi Arabia is the cynosure of all eyes today, as Crown Prince Mohammed bin Salman, or MBS as many call him, seeks to transform the country into a modern, diversified economy that is less reliant on oil. Technology is a central element of that diversification. Under MBS’s Vision 2030 programme, the country is aggressively driving digital adoption across industries, attracting global talent, and trying to build an innovation-driven economy. Sectors such as banking, energy, tourism, gaming, and telecom are seeing rapid digitisation, supported by government-backed initiatives – such as the National Strategy for Data and AI, and the Cloud First Policy – and regulatory reforms that make it easier for companies and professionals to operate in the country. The $500-billion Neom project aims to build a futuristic city powered by AI, robotics, and smart infrastructure.
Saajan Lathif, who moved to Saudi Arabia from Bengaluru and who is CEO & founder of Alwosta Group, a tech consultancy firm, has seen the changes firsthand. “Ten years ago, Saudi Arabia was not very tech-forward. Under the leadership of MBS, the country’s vision has changed. It is probably the fastest growing tech scene in the world,” he says.
Growing cosmopolitanisation
This shift has also altered global perceptions of Saudi Arabia as a work destination. “When I first started recruiting, very few tech talent wanted to move here. Now, people from all over the world are coming for better job prospects. Safety is a big attraction,” Lathif says. Many of those coming are Indians. Saudi Arabia has eased business processes significantly. Setting up a company or securing a work visa used to take months, now it happens digitally in a fraction of the time.
Adil Murtaza, general manager of Tech Mahindra Arabia, has worked in Saudi Arabia for 20 years. Earlier, he says, the job market was inclined towards talent from the US. “Now, there is a desire to look for the best tech talent from India and Asian countries. There is a lot of respect for Indians now as more and more Indians are in white-collar jobs. A lot of Indian IT companies have moved here as well,” he says. Indians are also in leadership positions at major Saudi Arabian tech companies. DataVolt is a leading data centre operator, which during Trump’s visit committed to invest $20 billion in AI data centres and energy infrastructure in the US. Its leadership is predominantly Indian; its CEO Rajit Nanda is an MBA from Xavier Institute of Management, Bhubaneswar.
Finance sector transformation
The financial technology sector is one of the most buzzing areas of transformation. Saudi banks are fast adopting digital technologies, focusing on automation, AI-driven solutions, and customer-centric innovations. Sandeep Chiber, EVP of sales & Revenue at Aurionpro Solutions, a global banking technology solutions firm, says the Middle East is a key growth market for the company, with Saudi Arabia at its centre. “With Vision 2030 driving transformation, we’ve seen significant action around banking technology modernisation. We are enabling real-time cash and liquidity management, injecting AI into cash forecasting, and automating transaction banking, supply chain finance, and trade finance operations,” he says. Aurionpro has signed two major deals with leading Saudi banks. The fintech ecosystem is backed by initiatives such as Fintech Saudi, the Regulatory Sandbox, and the Open Banking Framework, which encourage innovation and new market entrants.
Radical social changes
A senior technology professional, who did not want to be named and who has worked in the kingdom for the last 15 years, notes that tourism, sports, energy, banking, and telecom sectors are all seeing major tech action. “Experiential retail is a big opportunity here, with malls and brands using technology to create virtual and on-ground engagement experiences,” he says. The social landscape, he says, has also changed significantly, making Saudi Arabia a more attractive destination for professionals. “There are malls and theatres, all cuisines are available, movies are now released on the same day as their global release. There are parks and amusement activities, and permitting women to drive has improved family mobility. You just need to respect the law of the land, and you can have a very good life here. Most importantly, it is secure – no knifing in markets or shooting in schools,” he says.
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