Saudi Arabia has a new economy, youth must be prepared: ACWA Power founder

RIYADH: Global artificial intelligence labor market is expected to create new jobs by 2030, said Saudi Human Resources and Social Development Minister Ahmed Al-Rajhi.   

Speaking at the opening ceremony of the first Global Labor Market Conference held in Riyadh from Dec. 13-14, Al-Rajhi stressed the transformation the labor market is currently seeing is unlike anything that has ever happened before.    

“The growth of the global AI job market is expected to create 133 million new jobs from now until 2030,” said Al-Rajhi while pointing out the growing demand for new professions, skills and jobs in the future.    

He highlighted Saudi Arabia’s role in supporting international efforts to keep pace with changes in the global labor market, emphasizing the Kingdom’s diverse workforce and its aim to be a preferred destination for top talents globally.  

The minister affirmed Saudi Arabia’s commitment to creating private sector-led work environments to meet the needs of Saudis. 

Al-Rajhi advocated for creating work conditions free from exploitation or technological disruptions leading to abrupt job losses, while ensuring that new technologies are used to maximize value for the global economy.   

“Saudi Arabia is emerging not just as an international center of commerce but also as a leader in global sectors such as aviation, mining, tourism, and healthcare,” he said.  

Al-Rajhi added: “We are blessed with a young and highly educated population, and we want to ensure that everyone who works in Saudi Arabia has access to everything they need to realize their ambitions, whatever their individual talents and abilities. To achieve this goal, we want to work with friends throughout the world.”   

Additionally, he addressed the challenges from a supply chain perspective, emphasizing the necessity for greater adaptation to cope with increased geopolitical volatility, economic uncertainty, and rising inflation.  

“The factors that we consider today are not only incredibly complex but also dynamic,” Al-Rajhi said. 

Furthermore, the minister underscored the importance of the current phase in the global labor market, emphasizing the necessity of international cooperation, knowledge exchange, and experience sharing to address the rapid and unprecedented changes imposed by new work patterns, modern technologies, and geopolitical shifts.   

The conference, organized by the Ministry of Human Resources and Social Development, is being attended by over 6,000 participants from 40 countries.  

This diverse gathering includes ministers, government officials, and leaders. Additionally, heads of international and professional organizations and representatives from academic circles are also in attendance.