Tuesday 17 September 2019

Saudi sovereign fund, SoftBank in robotic initiative

RIYADH, September 7, 2017

The Saudi Arabian Public Investment Fund (PIF) and Japan’s SoftBank Group are set to launch an initiative to explore how robots can be more effectively used in the daily tasks of the government and society, a report said.

Over the coming months, PIF and SoftBank will partner with major global institutions to create a platform for driving forward the robotics industry, reported Saudi Press Agency (SPA).

The project will explore the development of standardized measurements for robot power, performance and intelligence, it added.

HRH the Crown Prince Mohammad bin Salman Al-Saud, Deputy Premier and Minister of Defence and Chairman of the Council of Economic and Development Affairs and Chairman of PIF said: “Technology forms an integral part of achieving Saudi Arabia’s Vision 2030, and this project reflects the Kingdom’s ambition to play an important role in helping to shape the future of the robotics sector. We are delighted to be partnering with SoftBank, already a global leader in the robotics industry, on this initiative.”

Masayoshi Son, chairman & CEO of SoftBank Group Corp., said: “The real world applications of robotics industry are rapidly moving from theory to reality and this shift is creating a pressing need to improve, future-proof and standardize areas relating to regulation and measurement. By taking a leadership role, Saudi Arabia will undoubtedly support its own efforts to diversify and modernize its economy.”

Robots now represent 0.7 per cent of the global industrial workforce with 69 robots per 10,000 employees, the report said, highlighting that there is currently no international agreement on the methodology for measuring growth of the global robotics population.

Tags: PIF | Softbank | robots |

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