SenseTime Joins HKSAR Delegation’s Visit to Saudi Arabia

Fosters AI Cooperation Between the Two Places Through New MOU/LOI with Leading Saudi Companies

February 7, 2023, Saudi Arabia - SenseTime was invited to join the recent HKSAR delegation's visit to Saudi Arabia. During the trip, SenseTime signed Memorandum of Understanding (MOU) and Letter of Intent (LOI) with King Abdullah Financial District (“KAFD”) and Sela, a leading cultural tourism event management company in Saudi Arabia, respectively. The MOU and LOI will strengthen the existing cooperations between SenseTime and the two companies in areas of smart city, digital tourism and entertainment and AI education, promote the digital development of Saudi Arabia and accelerate its progress towards Saudi Arabia's Vision 2030. The successful cooperation will continue to promote trade and technology exchange between the two regions.

Hong Kong Chief Executive, Mr John Lee (second left) and the Minister of Investment of Saudi Arabia, Mr Khalid Al-Falih (second right) witnessing the exchange of MOU/LOI between Dr. Xu Li, Chairman and CEO of SenseTime (first left) and Saudi Arabian enterprises.

Source: Government Press Releases

The delegation, led by the Hong Kong Chief Executive John Lee Ka-chiu, seeks to enhance connections between the two regions in various areas such as trade, innovation and technology, investment and culture.

Dr. Xu Li, Chairman and CEO of SenseTime, spoke at the "Hong Kong Investment Forum" on February 5 local time to share SenseTime’s experience and achievements in the cooperation with its local partners.

“Both Hong Kong and Saudi Arabia are embracing the big wave of digital economy, and there are many opportunities for cooperation between the two places. Hong Kong, as a world-leading financial center, with abundant resources in talent and technology, while Saudi Arabia aims to increase the contribution of digital economy in its total GDP based on its Vision 2030 goals,” Dr Xu Li said, “SenseTime will integrate our leading AI technology, years of customer service and project landing experience with local needs in Saudi Arabia to facilitate digital development and cooperation between the two places.”

SenseTime, a leading AI software company born in Hong Kong with a global presence, has been committed to promoting cooperation and development between Hong Kong and Saudi Arabia since its entry into the Saudi market in 2018. SenseTime has been developing businesses in various sectors such as smart city, smart tourism, smart auto and smart healthcare in the Saudi market. It has also established SenseTime MEA, a joint venture with Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, to jointly provide innovative AI solutions for the Middle East region and establish a local AI ecosystem. In addition, SenseTime works with Saudi Data & Artificial Intelligence Authority (SDAIA) to launch the Saudi AI Education Program, delivering a comprehensive AI curriculum for many teachers and students across the country. The program has successfully entered its second phase and is expected to benefit more than 30,000 students and train over 2,000 teachers.