Riyadh’s FII7 showcases In-depth AI discussions and $17.9 Billion in investment opportunities

The Future Investment Initiative's 7th edition (FII7) in Riyadh wrapped up this Thursday. The event underscored the latest investment and technological advances, touching on areas such as space, aviation, biotech, cybersecurity, robotics, venture capital, and startups.

A unique AI-focused summit within FII7 brought together experts like Dr. Eric Daimler of Conexus, Michael Kratsios from Scale AI, and Sebastian Kurz, the former Austrian Federal Chancellor. They deliberated on the international regulatory landscape for AI. Other contributors included John Curtius from Cedar Investment Management, Google's Lead AI Advocate Laurence Moroney, and Rami Qasem from Beyond Limits.
One significant insight from the AI summit highlighted Goldman Sachs Economics' data, projecting that by 2025, AI-related investments might hit the $200 billion mark. That showcases AI's transformative potential in business and broader societal applications.

Nicolas Carey from Blockchain.com remarked on the intertwined futures of AI and financial services, emphasizing the simultaneous emergence of blockchain and AI technologies and their complementary nature.

The summit also touched on the growing efforts by global regulatory bodies and national policymakers to frame guidelines that amplify AI's positive societal impact while countering its potential risks.

Additionally, a session during FII7 called the "Global South Carbon Markets" aimed to forge a unified direction for stakeholders from the Global South ahead of COP 28. The session aimed to mold carbon market frameworks that resonate with their climate goals and endorse biodiversity conservation, all in the broader perspective of promoting global climate justice.

During the event, the FII Institute showcased its Inclusive ESG Tool and Score, an initiative devised in collaboration with ESG Book. This tool is designed to bolster sustainability in emerging markets, allowing companies to optimize their sustainability endeavors and assist investors in pinpointing top-performing entities.

By the conference's close, the total investment at FII7 stood at a staggering $17.9 billion. Notable announcements included a collaboration between the Public Investment Fund and Italian tire producer Pirelli and a financial agreement between ACWA Power, the European Bank for Reconstruction & Development, and the OPEC Fund for International Development regarding a wind power project in Azerbaijan.

Richard Attias, the FII Institute's CEO, reflected on FII7's significance, celebrating the collective efforts to enhance the investment environment and drive global progress. He also hinted at FII's upcoming summit in Hong Kong this December, signifying its continuing commitment to shaping global futures.