Day 1 at LEAP 2024 Riyadh: 'Digital Davos' Kicks Off in the Desert

You only have to hover in the vicinity of the vast Riyadh Exhibition and Convention Centre this week to know that Saudi Arabia is serious about diversifying its economy. An endless flow of taxis pull up out of the desert haze, depositing tech workers, big thinkers and even the odd celebrity from across the globe. They're here for LEAP 2024, the world's most attended tech event and the jewel in the crown of the Kingdom's technology-driven Vision 2030 programme.

At this self-described 'digital Davos', you're never far from some of the world's biggest companies. The likes of Microsoft, Accenture, Bain and of course, Aramco have all pitched up for the week. But the real action is happening in the smaller booths, among the countless startups and scaleups from across the MENA region - and far beyond. That's where you'll find us.

Centuro Global is here throughout the whole event at Booth H3.C130 to give visitors a first-hand look at our groundbreaking, newly-updated global expansion platform. Our team - including our CEO, Zain Ali and our Business Development wizards Samuel Madden and Alistair Hancock are here to discuss your expansion needs, whether you're looking to make inroads into Saudi Arabia or anywhere else in the world.

Anyway, on with the show. Here's what was shaping the agenda on Day 1 of #LEAP24.

Advancements in AI

Perhaps unsurprisingly, Artificial intelligence took the spotlight today. In the keynote session, Bill McDermott , Chairman & CEO of ServiceNow , struck an optimistic note on AI's potentials to transform productivity, humanity, security, and well-being.

“The emergence of generative AI is an iPhone moment; it is, in my opinion, the best invention of our generation. Think about healthcare, think about utilities — any industry you can think of — all of them are being optimised by GenAI.” - Bill McDermott

Selina Yuan , Vice President of 阿里巴巴集团 and President of Alibaba Cloud Global was similarly upbeat about AI's ability to slash the normal time to market in all sorts of sectors.

"Normally it takes a long time to promote items and various stuff, but now with generative AI it only takes seconds...Generative AI saves us a lot of manual labor and answers a lot of questions for us. Developers lessen the time it takes to develop code and even solve whatever problems they've had before in an instant". - Selina Yuan

For Robert Enslin , CEO of UiPath , AI and automation are the keys to unlocking human potential, and even handing us back some precious leisure time in the process.

"We humans are simple beings, and yet, we strive for the stars and describe ourselves as having limitless potential. Truthfully, there's only so much we can do, which is why we're constantly pushing beyond our capabilities. They do not just save you time, but [save you] what truly matters. A 4-day work week sounds like a utopia, but this world is closer than we think with AI and automation." - Robert Enslin

Investment & Fundraising

Leap is practically a shangri-la for startups looking to pitch themselves to potential investors. Just hanging around the Investor Stage in Hall 3, you're never far from a bold, new idea. So which entrepreneurs will prevail in the battle for the cash of over 1,600 investors, with a combined AUM of $4.89 trillion?

We'll find out by Thursday, but first, we've got a lot of investment wisdom to sample.

Zach Coelius of Coelius Capital moderated an excellent panel on an undeniably weighty topic: how investment can secure a brighter future for humanity. Jenny Fielding , Olivier Mathiot , Shravin Bharti Mittal and Saeed Amidi gave their take on how the world's smartest money can find socially useful destinations.

We believe innovation is everywhere; we travel the world to be where innovations are, but we look at people more than we do at tech. We gain access to various global opportunities thanks to the digital world, allowing us to expand our reach" - Jenny Fielding

"With the advent of everything and anything, are you using technology for good or are you on the other side? What is the exponential factor that you provide; that's what we look at when we invest." - Shravin Bharti Mittal

"I don't want to invest in tech for the sake of tech - when you look at the other challenges we face now, ocean quality, climate change - that's what we want to tackle." - Olivier Mathiot

Government Initiatives

Leap is a natural opportunity for the Saudi government - and its Public Investment Fund (PIF) - to showcase their own initiatives to the global tech community. Amit Midha of crucial PIF portfolio company Alat gave a punchy pitch for the Kingdom's new place as a technology incubator.

"Venture capital in the region is growing. But globally, the capacity to invest in innovation has been dropping. That's where the Kingdom comes in, anyone who is innovating can find a partner here to help them grow." - Amit Midha , CEO of Alat

The Kingdom is certainly not dragging its feet in its digital transformation programme, and it wants the world to feel its impact. In a fireside chat with British Peer and publishing impresario Lord Stephen A. Carter CBE, Saudi Investment Minister H.E. Khalid Al-Falih laid out some lofty ambitions for the Kingdom's digital-driven growth journey.

"The transformation is not just digital, nor is it limited to just the region. This is a plan that will enable tech innovations all across the world." - H.E. Khalid Al Falih, Minister of Investment, Saudi Arabia

Leadership & Innovation

LEAP 2024's agenda reads like a vote of confidence in leaders' capacity to overcome challenges on a planetary scale.

According to Joseph M. Bradley , urban developer and CEO of TONOMUS , uncertainty is the enemy. To combat it, city planners must equip themselves with 3 core principles of cognitive renaissance: The Happiness Paradigm, The Cognitive Learning Loop, and The City As A Platform.

We were also lucky enough to hear from Andrew Griffith MP, the UK's Minister of State for Science, Research, and Innovation on the close tech collaborations between the two kingdoms - UK and KSA. Professor Dong Sun of the Hong Kong SAR Government, also filled us in on his city's place as a "super value-adder" that fosters global IT cooperation.

Looking Towards the Future

It's only been one day, but we've already borne witness to a lot of startling stuff here at LEAP, to say the least! We'll keep updating you with all the latest from the event over the next few days.

If you're onsite tomorrow, swing by Booth H3.C130 to talk to the Centuro Global team about your next global expansion move.

Get in touch to learn more about how we can support your Saudi Arabia market entry today ???? https://lnkd.in/dzpU_Ari