PM Shehbaz goes all in on AI at Riyadh investment conference

Prime Minister Shehbaz Sharif on Tuesday championed the use of artificial intelligence (AI) as he underscored the importance of a knowledge-based economy driven by innovation in the domains of AI, education and health and called for collective global efforts and partnerships to overcome contemporary challenges.

The prime minister arrived earlier today in Riyadh to attend the eighth edition of the two-day Future Investment Initiative (FII). The FII, scheduled for Oct 29-30, serves as a major platform for countries to promote economic potential, attract foreign investments and discuss strategies for sustainable growth.

Attended by global leaders, this year’s FII is themed “Infinite Horizons: Investing Today, Shaping Tomorrow” and focuses on global investments aimed at addressing major issues such as AI, robotics, education, energy, space, finance, healthcare, and sustainability.

The participating countries are set to engage in dialogue for the promotion of investment and a sustainable future while highlighting the strength of their respective economies. The first day featured discussions on artificial intelligence, robotics, education, energy, space, public health, and challenges confronting sustainable development.

Addressing the plenary session, PM Shehbaz said Pakistan was laying the foundation for a knowledge-based economy driven by innovation in three pivotal domains, artificial intelligence, education, and health, in which it looked forward to forging useful partnerships.

“AI is more than a trend; it’s a force revolutionising economies, societies, and industries. At this critical juncture, Pakistan is not just embracing AI, we are committed to excelling in it,” he said, adding the government’s mission was clear and that was to encourage young minds to redefine the boundaries of AI, training skilled engineers and data scientists as the backbone of the country’s AI growth and equipping their workforce to harness the power of AI across industries.

Along with Saudi Arabia and like-minded global partners, the prime minister said Pakistan envisioned AI as a force for good, free from biases.

The prime minister further said that in agriculture, climate resilience, and the fight against misinformation, AI’s potential could be unleashed not merely to compete, but to uplift and empower.

“Our aspirations in AI and beyond are deeply rooted in a solid educational foundation. Through educational reforms, vocational training and digital literacy, we aim to build a skilled, tech-savvy generation,” he added.

He said that no nation could overcome today’s challenges alone and no single country could harness the potential of tomorrow without the support of others.

“Pakistan stands ready to join those who dare to dream big. We invite you to invest, to bring your expertise and creativity to Pakistan, as we build a future rooted in resilience and shared prosperity,” the prime minister said.

The prime minister said that he was elated to share that Pakistan, too, was on a transformative journey; a journey of resilience, sacrifice and relentless pursuit of stability and growth.

Since assuming office in March this year, he said, the progress and prosperity of people had been his government’s top priority.

Through the commitment of their people and the support of partners such as Saudi Arabia, the government had restored macroeconomic stability and was now ready to enter a period of sustained growth and progress, he added.

“This journey is not just ours, it’s a call to our friends across the world, because together, we are stronger. Together, we can shape a future defined by innovation, prosperity, and success.”

He further elaborated that Pakistan was blessed with something truly precious: the youth.

“Talented, resilient and armed with an untiring spirit, they are now ready to take on the emerging challenges,” he added.

The prime minister said Pakistan shared a common mission with Saudi Arabia to invest in the youth to shape the future.

“In this pursuit, it is not just a responsibility; it is our persistent endeavour to empower our youth with quality education, digital inclusivity and the cross-cutting tools they need to thrive in a rapidly evolving world,” he said.

The prime minister said projects such as Daanish Schools and the Education Endowment Fund that his government steered, made quality education accessible to those who once saw it as an unattainable dream.

“These graduates aren’t just students; they are builders of tomorrow as doctors, engineers and innovators. They are pioneers, driving progress and uplifting their communities, a testament to the transformative power of accessible education. Their success stories reinforce my belief that education is a true equaliser and a game-changer for individuals and nations alike,” he observed.

The prime minister further said that health was the cornerstone of human advancement and Pakistan’s healthcare sector was home to over 275,000 registered doctors with the youth pioneering new health-tech solutions.

With advancements in healthcare standards, the government envisioned a future where doctors and scientists collaborated across borders for a healthier tomorrow, he added.

“Imagine the impact, pooling resources in areas such as genome sequencing and personalised medicine. With such collaborations, we can redefine the whole healthcare system,” he further emphasised.

“As we look toward these infinite horizons and unpack our potential, one truth becomes clear: the future of human advancement doesn’t lie in isolation, it lies in collaboration in working together for win-win outcomes,” he stressed.

The prime minister expressed the hope that as Pakistan and Saudi Arabia moved towards new realms of possibility, from their shared heritage to the frontiers of innovation, this partnership might shine as a beacon for all.

“Let this be our legacy: a commitment to a vision that transcends borders, embraces boundless potential, and inspires generations to come,” he added.

He also stressed that global human advancement and transformation could not take place unless peace was restored in Gaza.

PM appreciates Saudi support for economic revival

Later, PM Shehbaz held a meeting with Saudi Crown Prince and Prime Minister Mohammed bin Salman and appreciated the kingdom’s support for Pakistan’s economic revival and stability, highlighting the importance of deep-rooted brotherly relations between the two.

The two leaders took stock of the ongoing bilateral engagements, especially in follow-up to the decisions taken in previous high-level meetings held in Makkah and Riyadh in April.

Apprising the crown prince on the government’s economic, institutional and policy reforms agenda, the prime minister said the kingdom had a central role in Pakistan’s future economic plans.

He also appreciated the kingdom’s efforts to promote regional peace and stability in the Middle East and reiterated Pakistan’s unwavering commitment to support Saudi Arabia in these efforts.

The two leaders exchanged views on regional developments and agreed to closely coordinate positions on regional issues.

Arrival in Riyadh

PM Shehbaz was received by Riyadh Deputy Governor Prince Mohammed bin Abdulrehman bin Abdulaziz upon arrival at King Khalid International Airport earlier today.

In a post on X announcing his arrival, he said he looked forward to attending the “impressive gathering of political, business and corporate world leaders to shape a better future for all.

“In my meetings with the Saudi leadership, I will reaffirm our common desire to further cement Pak-KSA ties through robust and mutually beneficial partnerships in trade and investment.”

The prime minister will be accompanied on the trip by key cabinet ministers, the Foreign Office had said in a statement on Monday.

The prime minister is expected to engage with participating leaders and entrepreneurs at the FII conference, the statement added.

Islamabad and Riyadh Saudi share historic brotherly relations and cooperation in different sectors such as culture, economy, trade, and defence, among others.

Earlier this month, the two states signed 27 memorandums of understanding (MoUs) worth $2.2 billion in various sectors as the Saudi Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh arrived in Islamabad on a three-day official visit.

In April, PM Shehbaz made his first official trip to Saudi Arabia since assuming office this year. During the visit, he and Crown Prince Salman had agreed to expedite the first wave of a planned $5 billion Saudi investment package for Pakistan. The move, according to the Saudi Press Agency, confirmed Saudi Arabia’s position on supporting the economy of Pakistan and its “sisterly people”.

In May when a Saudi delegation visited Pakistan, PM Shehbaz assured Saudi investors that they would get the best facilities possible and also ease of doing business under the umbrella of the Special Investment and Facilitation Council (SIFC).

The two countries not only share strong bilateral ties but the Kingdom has often come to Pakistan’s rescue during times of economic turmoil.