IBM's Strategic Expansion in Riyadh, Saudi Arabia: Q1 2024 Summary
In Q1 2024, The US Tech giant IBM made significant investments and expanded its presence in Riyadh, Saudi Arabia. Based on publicly available news reports, here's a summary of the key developments.
On 22 January 2024, IBM officially opened its regional headquarters in Riyadh.
- IBM strengthens its presence in Saudi Arabia by opening a regional headquarters in Riyadh.
- This move reflects IBM's long-term commitment to supporting the Kingdom's digital transformation journey, which began in 1947.
- The headquarters will consolidate IBM's efforts in talent development, national infrastructure projects, and technological innovation using AI and hybrid cloud solutions.
- Saudi Arabia's Minister of Investment sees this as a positive step, attracting more leading technology players and solidifying the country's position in the global digital landscape.
On 4 March 2024, IBM announced the establishment of a new software lab in Riyadh.
- IBM commits over $200 million to establish a new software lab in Riyadh, Saudi Arabia. This aligns with the Kingdom's Vision 2030 to become a global technology leader.
- The lab focuses on hybrid cloud and AI solutions, aiming to accelerate digital innovation, product development, and sustainability software. This will create a stronger tech ecosystem and high-quality IT jobs for young Saudis.
- Announced at LEAP 2024, the lab reflects continued collaboration between IBM and Saudi Arabia. It follows the inauguration of IBM's regional headquarters in Riyadh in January 2024.
- Saudi Arabia's Minister of Communications and Information Technology, Abdullah Alswaha, sees the lab as a driver for AI innovation and business transformation across sectors.
- IBM CEO Arvind Krishna emphasizes the lab's potential to deliver global value through collaboration with regional innovators.
- This new software lab becomes part of IBM's global network, further solidifying Saudi Arabia's position as a major tech player on the international stage.
- Progress of the software lab: According to an Argaam news report on 6 April 2024, IBM has started preparing the center's establishment, with the leader Gaya Magie, who relocated from the United States to Saudi Arabia to lead this project. Ayman AlRashed, Regional Vice President of IBM Saudi Arabia, revealed that a group of engineers and software developers has been recruited for this center.
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Date of record
6 April 2024
