According to Saudi Arabia’s finance minister, the kingdom is set to significantly advance global sustainable development through its key role in artificial intelligence.

During the recent G7 meeting in Stresa, Italy, Saudi Finance Minister Mohammed Al-Jadaan spoke during a session titled AI and Development: Challenges and Opportunities, emphasizing Saudi Arabia’s commitment to using technology for inclusive economic growth. This aligns with the country’s National Strategy for Data and AI, which aims to make it a global tech leader by 2030.

The Minister also participated in discussions on supporting vulnerable nations, highlighting a proposed multidimensional approach to address debt vulnerabilities. He emphasized this strategy’s role in creating fiscal space, improving resilience, and achieving the UN’s Sustainable Development Goals (SDGs).

Al-Jadaan focused on Africa’s potential in another session, citing its ambitious population, young demographics, and rich natural resources. 

He also championed the G20 roadmap for improved cross-border payments, established during Saudi Arabia’s presidency in 2020. He stressed the roadmap’s success in creating a dedicated working group and the importance of further progress in this area.

Alongside the meeting, Al-Jadaan met with counterparts and leaders from international organizations to discuss key economic and financial developments. 

The G7 discussions overall focused on the global impact of AI, ongoing development efforts, and cross-border payment solutions. Participants committed to continued collaboration within multilateral forums like the G20. The meeting underscored a renewed commitment to international cooperation in promoting sustainable development, acknowledging the complex challenges requiring a unified global response.