Less Than $50 Million Invested in AI, Says Iran’s ICT Minister
That figures is a stark contrast to Saudi Arabia's $20 Billion and UAE's $1.4 Billion commitments in the sector.
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The Ministry of Communications and Information Technology and the National Development Fund signed a memorandum of understanding (MoU) today on "Smart Governance and AI-Driven Economy" to boost Iran’s advancements in artificial intelligence.
During the signing ceremony, Iran’s ICT Minister, Sattar Hashemi, acknowledged the country’s lag in global AI rankings, stating, "Iran’s position in the regional AI index is far from ideal. While we rank 60th globally, countries like Saudi Arabia and the UAE are significantly ahead of us."
Hashemi attributed this gap to insufficient investment, revealing that Iran has invested "less than $50 million" in smart technologies and AI infrastructure. That figures is a stark contrast to Saudi Arabia's $20 Billion and UAE's $1.4 Billion commitments in the sector.
Meanwhile, Mehdi Ghaznavi, head of the National Development Fund, announced that 1.5 trillion tomans (approx. $500 million) in financial facilities will be allocated to knowledge-based companies in the current Iranian year (2024-2025) to support technological innovation.
The new MoU aims to enhance Iran’s AI governance and digital economy, though experts highlight the need for substantially higher investments to compete regionally.
