Riyadh: Artificial intelligence has become a key enabler of business development, opening new growth avenues for small and medium-sized enterprises (SMEs) and entrepreneurs, the Saudi Data and AI Authority (SDAIA) says. The technology is strengthening their competitiveness as the economy rapidly embraces digital solutions and advanced technologies.

According to Saudi Press Agency, the remarks came during AI Week, organized by the Small and Medium Enterprises General Authority (Monsha'at) in partnership with SDAIA from August 9 to 13. The event aims to build stronger links between technological enablers and the business sector and move AI technologies from theory into practical applications in the workplace.

SDAIA said opportunities to leverage AI within businesses are expanding as its applications diversify across products, services, and operations. This is creating new avenues to improve performance, make better use of resources, and develop solutions tailored to market needs, while enabling entrepreneurs to turn technological ideas into viable business opportunities and models with potential for growth and expansion.

During a panel discussion, SDAIA's investment director Hesham Alsheddi discussed AI's role in supporting the investment environment and the opportunities it offers for developing flexible, scalable business models. He noted that the use of these technologies is no longer limited to the technology sector, but has expanded across economic activities to improve operational efficiency and optimize resource utilization.

The participation builds on SDAIA's ongoing efforts to support the entrepreneurship ecosystem and provide practical solutions that strengthen SMEs' readiness. It also supports the objectives of the Year of Artificial Intelligence 2026, which seeks to expand the use of advanced technologies and maximize their economic and developmental impact in the Kingdom.