Saudi Arabia's Outer Edge Forum Eyes Future Of Web3 And AI For Economic Growth

The Outer Edge Web 3 Innovation Forum, a landmark event focusing on the future of Web3 and artificial intelligence (AI), recently took place at The Garage headquarters in Riyadh. This prestigious gathering, organized by Animoca Brands and Edge Of companies, attracted the attention of global experts and specialists, including Dr. Munir bin Mahmoud Eldesuki, the President of the King Abdulaziz City for Science and Technology (KACST), and other distinguished attendees.

Riyadh's selection as the venue for this forum underscores the Kingdom of Saudi Arabia's strides in technological advancement and its commitment to fostering innovation, especially in Web 3 applications. This move signals a significant shift towards a new era for the World Wide Web within the region.

In his opening address, Prince Faisal bin Bandar bin Sultan, Chairman of the Saudi ESports Federation, shared the Kingdom's vision to emerge as a leading hub for gaming and electronic sports globally. He highlighted gaming's role in promoting social cohesion, innovation, and empowerment, alongside mentioning strategic initiatives like the upcoming Esports World Cup in Riyadh.

Dr. Maryam Noah, Vice President of KACST for the Future Economics Sector, emphasized KACST's dedication to propelling technological advancements. She pointed out the establishment of the Gaming and Immersive Technologies Institute and various partnerships aimed at localizing impactful technologies.

Omar Al-Shabaan, CEO of The Garage, described the incubator as a regional leader in deep technologies, supporting over 240 startups from 50 countries. He stressed its importance in nurturing entrepreneurial growth and facilitating innovative projects.

Yat Soi, Chairman of Animoca Brands, introduced attendees to Web3 technologies such as blockchain, cryptocurrencies, and decentralized applications. He outlined Web3's goal to create a more secure, open internet that prioritizes user control over personal data and digital interactions.

Naif Al-Rabeah, Director of Web3 and Spatial Reality Portfolio at NEOM, discussed smart cities and NEOM's adoption of AI applications. He highlighted efforts to establish a Web3 ecosystem that encourages cognitive solution development for urban living enhancement.

Mohammad Hadhrawi, General Manager of the Gaming and Immersive Technologies Institute at KACST, spoke on the Kingdom's potential to lead in gaming and e-sports. He anticipated significant investments in digital infrastructure and foresaw Saudi Arabia pioneering blockchain and AI integration into gaming and e-sports sectors.

The forum featured first-of-its-kind sessions in the Kingdom on various topics including the future of Web 3 applications, AI for business and smart cities, blockchain gaming investment opportunities, digital economy prospects, financial services evolution, digital art and brands development, as well as sports and entertainment evolution.

This event not only highlighted Saudi Arabia's commitment to embracing cutting-edge technologies but also set a precedent for future discussions on how Web3 and AI can reshape economic systems and society at large.

With inputs from SPA