Riyadh: The Small and Medium Enterprises General Authority (Monsha'at) has entered into a memorandum of understanding (MoU) with Groq, a company specializing in artificial intelligence, at the Biban Forum 2025. This agreement marks a significant step towards enhancing digital transformation for small and medium enterprises (SMEs) in Saudi Arabia.
According to Saudi Press Agency, the MoU was signed by Suliman Alturaif, Vice Governor of Planning and Development at Monsha'at, and Fahad AlTurief, Vice President and MENA Managing Director at Groq. The collaboration aims to empower startups and entrepreneurs by integrating advanced AI solutions into their operations.
The partnership will focus on developing joint initiatives and training programs to bolster technical capabilities in AI and high-performance computing. It also seeks to transfer knowledge and support the national innovation ecosystem. By adopting smart applications, the initiative aims to increase productivity within the SME sector, aligning with the Kingdom's broader goals for digital advancement.