Khaled Bin Alwaleed Reveals Two New AI Investments

The founder and CEO of KBW Ventures, HRH Prince Khaled bin Alwaleed bin Talal Al Saud, participated in the Dubai AI & Web3 Festival in a fireside discussion centered around artificial intelligence (AI) titled “The Role of AI in shaping the Global Economic Landscape."

Moderated by Laura Buckwell, the conversation spanned various commitments that KBW Ventures has made, beginning with a spotlight on two broadcast technologies that Prince Khaled has invested in--Vuz, based in the MENA region, as well as US-based Overtime.

“This is the way people want to consume media; we’re here to back the founders that are creating these market needs,” said Prince Khaled, referencing a recent Economist cover story lauding broadcast technologies as the new preferred medium with consistent growth and adoption. “Projected revenue in the streaming video on demand (SvoD) market is expected to reach $108.50 billion in 2024,” he added.

Having been estimated to grow at a compound annual growth rate (CAGR) of 8.27% from 2024 to 2027 with a user penetration rate of 18.3%, the global video streaming market is also expected to grow to 20.7% by 2027. This signifies the potential for further market expansion and penetration in the coming years.

On the topic of the AI industry, which is currently facing headwinds in terms of subjects like intellectual property, Prince Khaled said that the technology is not essential “for things like summarizing and checking emails.” He went on to say that he doesn’t see “pivotal innovation” being applied to small things like task management; instead, he emphasized that “medical and health technology is where AI will make a real difference, and I’m looking to invest in these sectors.”

Prince Khaled also noted that many Web3 enthusiasts were quick to pivot to AI when ambitions didn't pan out. “If I am going to compare this to something, I would remind everyone about food technology; first, it was a no-go, then everyone wanted in, and now, they aren’t sure. If you are going to invest in a sector, you shouldn’t be riding a ‘wave;’ I didn’t commit to a single sector on a whim or a public opinion spree. It was all purposeful and studied, and not because everyone else was doing so,” Prince Khaled added.

During the conversation, Prince Khaled revealed that KBW Ventures had invested in Minerva, a US-based B2B software-as-a-service (SaaS) startup that uses AI for wealth prediction and client segmentation targeting the real estate sector. The startup has raised funds from both institutional and angel investors and counts a number of seasoned investors as part of its last round.

Prince Khaled also revealed that KBW Ventures has invested in a generative AI platform called Hercules AI. Hercules AI eliminates manual processes and “automates enterprise workflows, and its strategy fits well with our thesis about the potential of generative AI,” he explained. “Enterprises are looking for solutions that are error-free, secure, reliable, scalable, and can show proven ROI; this offers a platform that can deliver on those needs.”

Held at Madinat Jumeirah, the inaugural edition of the Dubai AI & Web3 Festival brought together industry experts, stakeholders, investors, and startups to explore and expand the commercial possibilities of AI and Web3 technologies. Attendees experienced state-of-the-art integrations of artificial intelligence, blockchain, extended reality (XR), and decentralized systems driving the progression of digital economies and technological innovation.

The Dubai AI & Web3 Festival was staged under the Directive of H.H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense of the UAE, and was organized by the Dubai AI Campus, in strategic partnership with Dubai International Financial Center (DIFC) and the UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications Office.