The Saudi ministry of industry and mineral resources plans to convert 4000 factories from heavy reliance on expatriate workers to digital automation within 5 years, Bandar Al Khorayef told Alarabiya.
This comes amid the ministry’s efforts to build a conducive industrial environment for SMEs, as they account for over 80 percent of the total industrial new licenses since the beging of 2021, El Khorayef noted in a previous statement.
The minister highlighted the importance of investing in Fourth Industrial Revolution’s applications, due to its role in changing the shape of the industrial sector, in his interview to Alarabiya.
The Fourth Industrial Revolution (4IR) is a fusion of advances in artificial intelligence, blockchain, robots, 3D-printing and the internet of things, that is expected to support Saudi’s transformation towards an innovation-based economy.
