Cyberattacks among Saudi Aramco’s biggest threats; AI investments more profitable for businesses: CEO

Amin Nasser, President and CEO of Saudi Aramco

Saudi Arabian Oil Co.’s (Saudi Aramco) President and CEO Amin Nasser said that data storage cost declined for the first time due to cloud computing, indicating that most data can be read by machines.

During the Global AI Summit 2022 today, Sept. 13, Nasser noted the enormous potential of the application of artificial intelligence (AI), adding that any “massive” investment in AI and information technology (IT) bodes for additional profitability and success.

Cyberattacks are among the biggest risks facing Saudi Aramco. However, AI helps company officials safeguard against these challenges, he explained.

Saudi Aramco uses AI to model the Kingdom’s geological situation, which contributes to monitoring carbon emissions, predicting safety risks, while avoiding power failures and improving its use and ways through which energy products are provided to customers.

Nasser emphasized that the role of AI is to complement the human aspect and not to replace it, pointing out that companies should determine an optimal mix of human and automated capabilities.

Building a mature AI ecosystem is an important pillar of Saudi Aramco's strategy, and positioning it as an integrated network makes it stronger, he concluded.