Riyadh, 16 December 2024:

In an unprecedented move, the Saudi Company for Artificial Intelligence (SCAI), A PIF Company, and SMC have signed an agreement to establish an innovative joint venture, marking a transformative step in the AdTech industry. The partnership combines SCAI’s technological leadership with SMC’s robust media expertise to build a comprehensive platform designed to address the evolving needs of advertisers and publishers through advanced advertising solutions.

The signing ceremony, officiated by SCAI’s CEO, George Nazi, and SMC’s Chairman, Mohammed Al Khereiji, represents a major milestone in both the regional and global AdTech ecosystems, reaffirming the leadership of both organizations in driving technological and commercial advancements. The event was notably attended by representatives from SCAI, SMC, and the Public Investment Fund (PIF), demonstrating substantial support for the partnership.

Speaking at the signing ceremony, George Nazi, CEO of SCAI, remarked, “This joint venture reflects our commitment to innovation and our vision to lead the AdTech transformation in the region. By combining SCAI’s technological prowess with SMC’s market expertise, we aim to create solutions that not only address the immediate needs of the advertising and publishing realms but also set a new standard for excellence in the industry.”

Mohamed Al Khereiji, Chairman of SMC, added, “We are proud to partner with SCAI in this forward-thinking initiative. This joint venture is not just a business endeavor but a major stride toward redefining how technology and AI intersect in the media and advertising space. Together, we aim to deliver exceptional value to our stakeholders and help shape the future of digital media and advertising in the Middle East.”

Khalid Alkhudair CEO of SMC said: “This collaboration marks a transformative step in the media and advertising field. By combining SCAI’s technological capabilities with SMC’s deep expertise in media, we are creating a company that will redefine how data and AI are leveraged to deliver impactful advertising solutions”. Alkhudair also noted that “SMC's goal is to drive innovation and empower stakeholders with tools and platforms that offer precision, efficiency, and unmatched value in a rapidly evolving digital ecosystem.”
The New Digital and AI Company in Media and Advertising is conducting an extensive assessment of the market in Saudi Arabia and the region to lay the foundation for AdTech and MediaTech Applications. This endeavor will streamline advertising processes for buyers and optimize the monetization of digital properties for sellers. Central to these technologies is a focus on precision and efficiency, achieved by managing insights and aligning strategies through advanced tech and AI applications.

This collaboration highlights the shared vision of SCAI and SMC towards advancing innovation in the advertising industry and delivering a cutting-edge platform designed to meet the demands of a rapidly evolving market.

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