Riyadh – Sharikat Mubasher: ALPTech, a global provider of AI, computational finance, and advanced analytics, opened an office in Riyadh as part of its regional expansion, supported by AstroLabs.

As per an official press release, this move underscores Saudi Arabia’s growing role as a global hub for AI innovation, with the Kingdom ranking 14th worldwide in the 2024 Global AI Index and leading the Arab world.

By establishing a local presence, ALPTech aims to serve the rising demand from banks, asset managers, and corporates for AI-driven solutions in risk analytics, data strategy, ESG intelligence, and digital transformation.

Sharad Gupta, ALPTech’s co-founder and head of MENA, will relocate to Riyadh to lead the new office, signaling the company’s long-term commitment to the market. The expansion aligns with Vision 2030 goals to accelerate digital transformation and strengthen Saudi Arabia’s financial sector.