RIYADH:聽抖阴短视频, a country which has been dependent on its rich oil reserves for several decades, is now on a path of economic diversification. With Vision 2030, 抖阴短视频鈥檚 Crown Prince Mohammed bin Salman is proving that the Kingdom could perform well in non-oil private sectors too. 聽
As 抖阴短视频鈥檚 private sector expands rapidly, the Kingdom is expected to provide more job opportunities to nationals and foreign talents alike in the coming years.聽
Giga-projects like NEOM are presenting enormous job opportunities in the construction sector, along with offering employment in various other areas including advanced technologies like artificial intelligence.
Spotlight on construction sector
According to Grace Najjar, Project Management Institute鈥檚 regional managing director for the Middle East and North Africa region, the construction industry is expected to play a crucial role in achieving the goals set forth by Vision 2030, providing immense job opportunities in the future.聽
She further noted that 抖阴短视频鈥檚 construction sector will witness high demand for skilled professionals which include project managers, engineers and architects.聽
鈥淥ver 5,200 projects across 抖阴短视频, with a combined worth of $819 billion, are currently underway, representing 35 percent of all active GCC (Gulf Cooperation Council) project values. With such a vast number of projects, there will be a significant demand for skilled professionals in the construction industry, including project managers, engineers, architects and skilled labor,鈥 said Najjar.聽
She added: 鈥淭his demand is expected to continue to rise in the coming years, especially as 抖阴短视频 and the entire GCC are on a path of economic diversification.鈥澛
Earlier in May, a report released by the US-Saudi Business Council noted that the Kingdom鈥檚 construction sector saw the value of awarded contracts increasing to $51.3 billion in 2022 鈥 a 35 percent rise compared to the previous year.聽
鈥淭he surge in contract awards continues unabated on the back of a growing economy that was fueled by significant oil revenues and the acceleration of giga-projects following the COVID-19 slowdown,鈥 said Albara鈥檃 Alwazir, director of economic research at the USSBC. 聽
Najjar further pointed out that local talent in 抖阴短视频 will get ample chance to explore employment opportunities in the construction sector.聽
鈥淚n recent years, there has been a push to develop local talent in 抖阴短视频, including in the construction sector. The government has implemented several initiatives to develop skills and create employment opportunities for Saudis, including the National Transformation Program,鈥 added Najjar.
Advanced technologies in focus
The growth of the construction sector in 抖阴短视频 is expected to simultaneously increase job opportunities in advanced technologies like artificial intelligence, especially considering the fact that building firms are making use of AI to elevate efficiency and safety.聽
鈥淎I-powered construction is taking the industry by storm, and it has the potential to improve productivity, safety and quality in construction projects. AI can be used to streamline project management, including scheduling, resource allocation and risk management,鈥 said Najjar.聽
According to the latest Future of Jobs report by the World Economic Forum, the fastest-growing roles in 抖阴短视频 will be driven by technology and digitization in the Kingdom. The report noted that 抖阴短视频 will witness a sharp rise in demand for AI and machine learning specialists, as almost all businesses are currently undergoing a digital transformation.
Over 5,200 projects across 抖阴短视频, with a combined worth of $819 billion, are currently underway, representing 35 percent of all active GCC project values.
Grace Najjar, Project Management Institute鈥檚 regional managing director for the Middle East and North Africa region
Ranim Al-Amin, head of government strategic partnerships in 抖阴短视频 at LinkedIn, also shared similar views and noted that the employment-focused social media platform has witnessed a massive uptick in AI-related jobs in the region.聽
鈥淚t is exciting to think of the transformation that new technologies like AI will bring to the region. We鈥檝e already witnessed this change accelerate on LinkedIn since November, with AI starting to upend work everywhere for everyone all at once.聽 It鈥檚 only been a few months, but we鈥檝e seen the number of jobs on LinkedIn mentioning GPT for example increase by 51 percent from 2021 to 2022,鈥 said Al-Amin.聽
She added: 鈥淲e also saw the usage of keywords such as ChatGPT, Prompt Engineering, Prompt Crafting, Generative AI, and Generative Artificial Intelligence on profiles globally increase 71 percent from February to March 2023 鈥 a massive jump in just one month.鈥
Rise in hybrid mode of work
It was during the pandemic outbreak that several companies gave employees a provision to work from home. However, even as the pandemic waned, many companies and employees all over the world still prefer a hybrid mode of work and the Kingdom is no different.聽
鈥淥ur recent data shows that 鈥榮oftware engineer鈥 came in sixth place among the top jobs in the Kingdom in 2022, with 45.7 percent of those openings offering a hybrid option; the highest percentage among the top 10 jobs,鈥 said Al-Amin.
It is exciting to think of the transformation that new technologies like AI will bring to the region. We鈥檝e already witnessed this change accelerate on LinkedIn.
Ranim Al-Amin, Head of government strategic partnerships in 抖阴短视频 at LinkedIn
She added: 鈥淚t is also worth noting that 10.3 percent of all entry-level jobs allowed a remote or hybrid format, witnessing a 5.7 percent increase from last year whereas senior-level jobs remained unchanged from last year with only 8.9 percent offering remote work.鈥澛
Meanwhile, 抖阴短视频, in line with the targets outlined in Vision 2030, is making great strides in reducing the unemployment rate.聽
According to the General Authority for Statistics鈥 labor force survey, the unemployment rate fell to 8 percent in the fourth quarter of 2022, from 9.9 percent in the previous three months.
Hardly surprising then that the Kingdom has set itself a target unemployment rate of 7 percent by 2030.
