Saudi Aramco and IBM announced preliminary plans on October 31, 2022, for a strategic collaboration to establish an Innovation Hub in Riyadh. According to the joint announcement, the collaboration aimed to support high-tech economic growth in the Kingdom using emerging technologies in hybrid cloud, artificial intelligence, and quantum computing.
Areas of focus included circular economy, materials science, supply chain, sustainability, security, and digitization. The planned hub would bring together IBM Consulting and Technology experts to work alongside Aramco personnel in identifying and scaling new uses of technology. IBM noted it had been present in Saudi Arabia since 1947.
Saad Toma, General Manager of IBM Middle East and Africa, said the collaboration aimed “to help develop local skills and talent with the knowledge and expertise needed to build this vision for the future using IBM technologies and expertise.” The MOU was subject to the parties reaching a final agreement.