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Saudi Arabia to set up mammoth $40 billion fund to invest in AI start-ups

Saudi Arabia is in discussions to establish a substantial $40 billion fund aimed at investing in artificial intelligence, as the nation endeavors to make its mark in an industry already flush with capital and strengthen its foothold in high-tech sectors.The country's Public Investment Fund (PIF), boasting assets estimated at $925 billion, is reportedly in negotiations with Silicon Valley's Andreessen Horowitz regarding this initiative. According to reports from The New York Times, this fund could be operational by the end of 2024, significantly surpassing existing investmen

by entspos March 21, 2024March 21, 2024

Professional Growth, Technology

Pakistan earns $1,719 million from IT services’ export in 7 months

During the initial seven months of the fiscal year 2023-24, Pakistan garnered a total of US $1,719.921 million through the provision of various Information Technology (IT) services to diverse countries, showcasing a growth of 12.78 percent compared to the US $1,524.969 million earned in the corresponding period of the previous fiscal year 2022-23, as reported by the Pakistan Bureau of Statistics (PBS).Throughout this period, the export of computer services witnessed a notable increase of 14.09 percent, soaring from US $1,224.499 million to US $1,397.051 million from July to

by entspos March 19, 2024March 19, 2024

Professional Growth, Technology

China relies on artificial intelligence to manage the world’s largest high-speed rail network

China is leveraging artificial intelligence to manage its extensive 45,000km high-speed rail network, achieving notable milestones, as per involved engineers. An AI system in Beijing processes real-time data countrywide, promptly alerting maintenance teams with 95% accuracy within 40 minutes, facilitating swift reinspection and repair efforts. Last year, no operational high-speed railway lines in China warranted speed reductions due to major track irregularities, while minor track faults decreased by 80%. With the application of AI technology, rail movement amplitude ind

by entspos March 15, 2024March 15, 2024