Riyadh, May 12 (QNA) - HH Crown Prince and Prime Minister of Saudi Arabia, Chairman of the Board of the Public Investment Fund (PIF), Prince Mohammed bin Salman bin Abdulaziz Al Saud, announced Monday the launch of a new company aimed at advancing and managing artificial intelligence (AI) solutions and technologies, as well as investing in the sector's broader ecosystem.

The new company, named Humain, is chaired by the Crown Prince and is wholly owned by the Public Investment Fund.

The firm will operate to provide state-of-the-art AI-powered applications, including the development of large language models (LLMs) in Arabic, the establishment of next-generation data centers, and the enhancement of cloud computing infrastructure.

These initiatives intend to bolster capabilities in developing and delivering AI-powered applications and solutions at the domestic, regional, and international levels, thereby opening new apertures in the digital economy.

Humain will support and coordinate a variety of initiatives related to data and device centers, accelerate the adoption of AI technologies in various fields, and provide an integrated system for solutions associated with the digital economy in multiple strategic sectors, such as energy, healthcare, industry, and financial services.

Overall, the firm will energize all domestic efforts, with particular emphasis on maintaining intellectual property for innovations and realizing Saudi Arabia's aspirations for the data and AI sectors, foremost among them, strengthening its stature as a global hub to empower the best data and AI technologies, in addition to attracting investment opportunities and top talents from Saudi Arabia and beyond. (QNA)