DATE Fintech and AI Show ignites innovation across industries

DATE Fintech and AI Show ignites innovation across industries
The event provided a dynamic platform that propelled insightful discussions through engaging keynote speeches and fireside chats, fostering business growth opportunities in key sectors.
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Updated 24 December 2023
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DATE Fintech and AI Show ignites innovation across industries

DATE Fintech and AI Show ignites innovation across industries

Saudi Arabia’s innovation scene came alive at the DATE Fintech Show and the co-located DATE AI Show, which recently took place in Riyadh.

Held at the JW Marriott Riyadh on Dec. 11-12, this powerhouse event united C-level executives, industry titans, and global pioneers in fintech and artificial intelligence. From enterprises and investors to government authorities and tech collaborators, the summit buzzed with a singular mission: propelling transformative solutions across every industry. Underneath the Riyadh skyline, the future of tech unfolded, with groundbreaking applications set to disrupt and redefine countless sectors.

With more than 2,000 C-suite attendees, the event provided a dynamic platform that propelled insightful discussions through engaging keynote speeches and fireside chats, fostering business growth opportunities in key sectors critical to Saudi Arabia’s economic future.

Featuring an impressive lineup of speakers and panelists, the event marked a significant shift in leveraging transformative technologies. Discussions ranged on topics such as: Empowering the Kingdom’s Future with AI Surges, Generative AI for Digital Twins, Regulators as Catalysts for Innovation, Amplifying the Fight against Financial Crime, and more.

The fireside chat on “Cognitive Cities: Science Fiction or Tomorrow’s Future?” between Yousef Khalili, chief commercial officer at Tonomus (NEOM), and Mary Pedler, founder of Input PR, offered compelling insights into seamlessly integrating technology in daily life.

A pivotal session on the DATE Fintech stage was a panel discussion titled “Empowerment Personified: Fintech’s Impact on Women-led Enterprises.” The panelists provided insightful perspectives on women’s progress, advocating gender inclusivity in the tech ecosystem. The deliberations further encompassed strategies for fostering empowerment and inclusivity in the innovation landscape.

Sonia Shaw, partner and vice president of global partnerships at CoinW, said: “DATE KSA showcased innovation, boosting exhibitor visibility and fostering valuable industry connections.”

“DATE Fintech Show and DATE AI Show in Riyadh have been nothing short of extraordinary,” said Naveen Bharadwaj, group CEO of Trescon. He added: “The active engagement and collaboration among industry leaders, tech innovators, and policymakers have opened doors to reimagine the future of financial services and AI in the Kingdom.”

In the third regional finals of the Fintech World Cup, organized by Dubai Fintech Summit in collaboration with Trescon at the DATE Fintech Show in Riyadh, 11 fintech startups competed for a chance to pitch at the grand finale and secure funding of up to $1 million.

Monak E-Services, a MENA-based migrant fintech, clinched victory at this event. Their specialized focus on providing financial inclusion and essential life services to Middle Eastern workers through a collaborative network marks a remarkable advancement in the realm of innovative fintech solutions.

Sharing his experience at DATE AI Show, Adil Belahouri, head of AI at Riyad Bank, said: “I am excited to join distinguished speakers, discussing AI’s transformative impact on the business landscape.”

Commenting on generative AI, Wael Salloum, vice president — data and AI, Careem, said: “Its accessibility, productivity improvements, and equalizing influence parallel the historic role of the Internet in shaping a future of increased economic opportunities and growth.”

DATE KSA may be over, but the momentum is just beginning. From the capital’s heart, a wave of tech-driven collaboration is washing over the Kingdom, promising redefined financial services, seamless AI integration, and Saudi Arabia’s rise as a global innovation beacon.


GAIN Summit: stc launches AI lab, inks partnerships

GAIN Summit: stc launches AI lab, inks partnerships
Updated 16 September 2024
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GAIN Summit: stc launches AI lab, inks partnerships

GAIN Summit: stc launches AI lab, inks partnerships

stc Group, an enabler of digital transformation, concluded its participation in the Global AI Summit by signing a series of strategic agreements with Saudi Railways, King Abdullah University of Science and Technology, Huawei, the Research Development and Innovation Authority, and SambaNova Systems.

stc’s participation in the summit highlights its leadership role in driving digital transformation both locally and globally. The event served as a platform for stc to showcase its innovative solutions, products and technologies, and reaffirm its commitment to positioning Saudi Arabia as a leading digital hub in the Middle East.

The agreements will help accelerate the group’s strategic objectives in various fields, including artificial intelligence, innovation, and digital transformation. Among these partnerships is an agreement with Saudi Railways to enhance customer service through AI-based technological solutions that improve operations at all levels.

Additionally, stc signed a strategic cooperation agreement with KAUST to establish a research center specializing in generative AI within the group. This center is the first of its kind in the region for R&D and innovation in generative AI technology, leveraging the shared expertise of stc and the university in data and AI fields.

stc also signed a cooperation agreement with Huawei in data, analytics, and AI fields to enhance stc’s digital capabilities, develop network infrastructure, support data-driven decision-making, and improve corporate operations.

The partnerships also included an agreement with the RDIA to develop mechanisms for supporting and enabling entrepreneurial projects, enhancing research opportunities, and providing empowerment for innovative ideas within future economic priorities.

A strategic partnership agreement with SambaNova Systems was signed to deploy and expand the GenAI Sovereign Cloud within stc’s data centers, enhancing AI capabilities for cloud infrastructure and supporting advanced AI applications in the Kingdom.

During the summit, stc participated in several panel discussions to spread knowledge, including a session titled “Decoding AI Strategies,” focusing on enabling companies to responsibly engage with AI applications by balancing competitive advantage, resource efficiency, and ethical considerations. Another session titled “The Role of AI in Skills Enhancement and Innovation” discussed AI’s role in empowering employees and improving their skills according to labor market requirements, as well as continuous learning through AI-driven innovation.

During the closing ceremony, stc Group received three awards, including recognition for its technical support and sponsorship of the summit as a digital enabler, an award for adopting AI ethics from the early stages, and a prize for solutions by stc, specializing in IoT products, under the Innovation Sponsorship category.

The Saudi Data and AI Authority hosted the third edition of the Global AI Summit from Sept. 10 to 12, at King Abdulaziz International Convention Center in Riyadh.


Social Development Bank concludes FintechHub program

Social Development Bank concludes FintechHub program
Updated 16 September 2024
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Social Development Bank concludes FintechHub program

Social Development Bank concludes FintechHub program

Saudi Arabia’s Social Development Bank concluded the FintechHub program in partnership with the United Nations Conference on Trade and Development and its Empretec program, with support from Fintech Saudi. This initiative marks the first of its kind under the Empretec Center and is part of SDB’s ongoing commitment to driving innovation and supporting entrepreneurship in the financial technology sector.

Held from Sept. 8-12 in Riyadh, the FintechHub program focused on fostering innovation in financial technology by developing a robust economic ecosystem designed to support emerging ventures and aspiring entrepreneurs. Participants were introduced to the latest trends in fintech and provided with knowledge and tools to develop their projects and achieve sustainable success.

The program highlights SDB’s strong collaboration with key players in the financial technology sector, including Fintech Saudi, which plays a pivotal role in enhancing the Kingdom’s fintech ecosystem. The initiative is also supported by certified trainers from the Empretec program, alongside leading global fintech entrepreneurs, offering participants access to expertise and industry insights.

Throughout the program, participants explored cutting-edge technologies and innovations to ensure they stay ahead of market developments. They also learned how to create sustainable, effective business models aligned with consumer needs and designed to drive economic growth. 

In addition, the program provided a valuable networking platform, enabling participants to connect with fellow entrepreneurs and industry leaders, further supporting their journey toward success.

As part of the program’s activities, participants had the opportunity to present their projects to a group of prominent investors in the Kingdom, including Rakan Al-Fadl from Takamol, Abdullah Al-Duwaish from Flat6Labs, and Philip Matos, CEO of ABstartups. The program also featured inspiring talks from successful local entrepreneurs, including Maher Loubieh, CEO and co-founder of HALA, who shared his experience and insights on building a startup in the fintech sector.

The FintechHub program culminated in the graduation of 26 entrepreneurs specializing in tech startups, showcasing the initiative’s success in building a strong foundation of business leaders within the financial technology space.

This program underscores SDB’s dedication to supporting the growth of the fintech sector and promoting sustainable economic development through innovation and entrepreneurship.


Bahrain Airport Company signs strategic agreement with APSCO

Bahrain Airport Company signs strategic agreement with APSCO
Updated 16 September 2024
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Bahrain Airport Company signs strategic agreement with APSCO

Bahrain Airport Company signs strategic agreement with APSCO

Bahrain Airport Company, the operator and managing body of Bahrain International Airport, signed a strategic agreement with The Arabian Petroleum Supply Company, a renowned energy company with a rich history in the Middle East’s petroleum industry. The signing ceremony took place at Awal Private Terminal to formalize the strategic agreement.

Under this agreement, APSCO becomes the second into-plane service provider at the airport, leveraging its extensive expertise to deliver reliable and efficient aviation fuel services. This partnership represents a key milestone in BAC’s ongoing commitment to enhancing operational excellence and elevating the overall passenger experience.

BAC Chief Executive Mohamed Yousif Al-Binfalah said: “This strategic partnership with APSCO marks a significant step forward in our commitment to enhancing BIA’s aviation fueling service offerings. By expanding our fuel service capacity and efficiency, we are further solidifying BIA’s position as a world-class airport with alternative service providers and enhancing its attractiveness to global airlines.”

APSCO Managing Director Mohammed Ali Ibrahim Alireza added: “We’re proud to partner with Bahrain Airport Company. With over 60 years of experience in energy solutions and a focus on aviation fuels, we’re well-equipped to support BIA’s commitment to operational excellence. Our long history in aviation fueling services underlines our capacity to continually innovate and adapt to our customers’ needs. By striving to improve efficiency, reduce environmental impact, and harness the latest technologies, APSCO aims to provide top-tier services at airports.”

This strategic move aligns with BAC’s vision to contribute to the growth of Bahrain’s aviation sector and attract more airlines and passengers to the country. APSCO currently manages 22 depots across various airports in Saudi Arabia, ensuring seamless operations for both commercial and private aircraft.


Wizz Air announces new London Gatwick-Jeddah route

Wizz Air announces new London Gatwick-Jeddah route
Updated 15 September 2024
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Wizz Air announces new London Gatwick-Jeddah route

Wizz Air announces new London Gatwick-Jeddah route

Wizz Air, Europe’s fastest-growing and most environmentally sustainable airline, has launched a new direct route between London Gatwick and Jeddah, starting on March 31, 2025. This new route underscores Wizz Air’s dedication to expanding its presence in Saudi Arabia, offering travelers more options and affordable fares. Tickets are now available on wizzair.com and the Wizz Air app, with prices starting from $116.99.
Wizz Air’s new London Gatwick to Jeddah route will operate daily all year round, connecting two vibrant cities. This strategic addition to Wizz Air’s network highlights the airline’s commitment to providing affordable and accessible travel options while strengthening ties between Saudi Arabia and the UK.

HIGHLIGHT

Over the past three years, Wizz Air has significantly increased its capacity in Saudi Arabia, introducing numerous new routes and enhancing travel options.

Over the past three years, Wizz Air has significantly increased its capacity in Saudi Arabia, introducing numerous new routes and enhancing travel options, while contributing to the country’s connectivity in line with Vision 2030 and following a partnership agreement with Saudi Tourism Authority to increase connectivity to Europe and boost inbound visitors.

Andras Rado, Head of Communications and Government Affairs, Wizz Air


This route is one of many offerings that will leverage the Airbus A321XLR’s extended range and efficiency, revolutionizing intercontinental travel and making it more accessible than ever before.
“The Airbus A321XLR is the most cost-efficient aircraft of its class and, given the enhanced range capability, it enables Wizz Air to connect the furthest destinations in its network and further expand it, connecting cultures and continents. We’re excited to unlock unbeatable fares for our customers on the newly announced route to London, while offering the most sustainable option for flying,” said Andras Rado, head of communications and government affairs, Wizz Air, during a press conference in Jeddah. “We are already flying several 5-6 hour long ultra-low-cost routes with great satisfaction to our customers, and the XLR (extra-long range) will extend our outstanding value proposition to 7–8-hour long flights.”

We’re excited to unlock unbeatable fares for our customers on the newly announced route to London.

Andras Rado, Head of Communications and Government Affairs, Wizz Air

The new aircraft type, a first in the region, is the most cost-effective in its class, more sustainable due to less fuel burn and designed to operate intercontinental flights of up to 7-8 hours, revolutionizing the long-haul travel market.
“We as an airport are delighted to offer affordable fares for our customers on the newly announced route to London Gatwick while providing the Wizz Air’s new route as an option for traveling to the UK,” said Kimmo Ruotsalainen, general manager of aviation business development, Jeddah Airports Company.
Wizz Air’s investment in Saudi Arabia includes the use of modern, fuel-efficient aircraft, contributing to more sustainable travel. The airline’s carbon intensity is estimated to be at least 30 percent lower than that of other carriers on the same routes, aligning with Wizz Air’s commitment to reducing its environmental footprint.
Since entering the Saudi market, Wizz Air has created more than 1,500 job opportunities in the associated industries.

 


Gulf Air expands European network with SKY express

(Twitter @GulfAir)
(Twitter @GulfAir)
Updated 15 September 2024
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Gulf Air expands European network with SKY express

(Twitter @GulfAir)

Gulf Air, the national carrier of Bahrain, announced a new special prorate agreement with SKY express, the multi-awarded Greek airline. This one-way SPA allows Gulf Air passengers to seamlessly connect onto SKY express flights, opening up new travel opportunities to Greece and beyond.
Specifically, Gulf Air passengers can fly and connect through Athens to 32 destinations across Greece. Under this agreement, passengers traveling from Europe — via key hubs like Rome, Milan, Paris, Munich, Frankfurt, and London — can enjoy seamless connections with a single ticket from their city of departure through Athens to Bahrain, and onward to Gulf Air’s extensive network.
This partnership significantly expands Gulf Air’s network and strengthens its presence in Greece and Europe, providing passengers with even more travel options and convenience.
A Gulf Air spokesperson said: “This partnership with SKY express signifies a key step in Gulf Air’s network expansion strategy, broadening our reach and strengthening our market presence in Europe. By connecting our network to SKY express, we’re offering our passengers enhanced travel experiences to Greek destinations with seamless connectivity, and more travel options to choose from.”
Gerasimos Skaltsas, chief commercial officer of SKY express, said: “Our partnership with Gulf Air marks a significant milestone in SKY express’s international expansion, enhancing connectivity for passengers across Greece and global destinations via Bahrain. By offering seamless travel with a single ticket, we are providing a more convenient and comprehensive travel experience. This collaboration brings mutual benefits to both airlines and our passengers.”
This agreement marks another milestone in Gulf Air’s commitment to expanding its network and offering passengers greater flexibility and convenience.

By streamlining connections through the Greek airports included in the SPA, Gulf Air enhances operational efficiency while providing passengers with a wider array of destination choices for passengers.