For nearly a decade, PIF has been the driving force behind the ambitions of Vision 2030, Crown Prince Mohammed bin Salman’s transformative economic blueprint. Under this vision, the fund financed an array of ambitious giga-projects designed to reshape the Kingdom’s infrastructure and global standing.
In a striking development that signals a new chapter in the Kingdom of Saudi Arabia’s economic evolution, the Saudi Public Investment Fund (PIF) is poised to unveil a comprehensive strategy for 2026–2030 that recalibrates its investment priorities, placing artificial intelligence and tourism at the centre of its future direction. This pivot reflects a broader recognition that the nation’s long-term prosperity must be underpinned by technological innovation and sustainable sectors that extend beyond its historical dependence on oil revenues.
For nearly a decade, PIF has been the driving force behind the ambitions of Vision 2030, Crown Prince Mohammed bin Salman’s transformative economic blueprint. Under this vision, the fund financed an array of ambitious giga-projects designed to reshape the Kingdom’s infrastructure and global standing. However, many of these landmark developments have encountered significant delays and escalating costs, prompting policymakers and investors to reassess their viability and future contribution to economic growth. In response, the new strategy represents the most substantial overhaul of PIF’s strategic priorities to date.
Central to this strategic shift is a pronounced emphasis on artificial intelligence. The PIF recognises that AI is not merely a promising innovation frontier but a fundamental driver of competitive advantage in the global economy. By integrating AI across its investment framework, the fund seeks to harness the capabilities of advanced technologies to enhance decision-making, optimise asset allocation and generate tangible returns. According to reports, AI has already been embedded at multiple levels within the fund’s operations, reshaping how investments are evaluated and pursued.
This commitment is evidenced by initiatives such as the establishment of Humain, a PIF-backed artificial intelligence company headquartered in Riyadh. Founded in 2025, Humain aims to position Saudi Arabia as a global leader in AI innovation, infrastructure and services, including cloud computing and large language models. With strategic partnerships involving major global technology firms, this endeavour exemplifies the Kingdom’s determination to cultivate indigenous technological expertise while attracting international collaboration and investment.
The pivot towards AI also aligns with broader national objectives to diversify the economic base and reduce vulnerability to oil price volatility. By nurturing a robust AI ecosystem, Saudi Arabia aims to create high-value jobs, foster entrepreneurship and stimulate innovation across industries. The anticipated economic impact extends beyond the tech sector, with AI expected to permeate areas such as healthcare, finance, logistics and government services.
Equally significant is PIF’s renewed focus on tourism, a sector that stands to become one of the primary engines of non-oil growth. Tourism has long been identified as a strategic sector under Vision 2030, with the Kingdom targeting ambitious goals for visitor numbers, economic contribution and employment generation. In recent years, Saudi Arabia has accelerated efforts to position itself as a premier global destination, leveraging its rich cultural heritage, historical sites and natural landscapes.
Recent tourism initiatives underscore this intent. For instance, national forums have attracted substantial foreign portfolio commitments and fostered partnerships aimed at developing hospitality, lifestyle and experience-driven offerings. The integration of AI and automation in tourism services is anticipated to enhance visitor experiences, streamline operations and elevate Saudi Arabia’s competitiveness on the world stage.
This strategy is more than an economic adjustment; it is a recalibration that acknowledges prevailing global economic realities. As oil prices remain below levels that can unilaterally support ambitious capital-intensive projects, PIF’s leadership is seeking to attract private capital from global asset managers. By emphasising sectors with clearer paths to returns, such as AI and tourism, the fund is positioning itself to deliver sustainable value creation for both domestic and international stakeholders.