By the end of the first half of 2024, the Abu Dhabi Chamber of Commerce and Industry announced that over 400 AI-centric companies were registered in Abu Dhabi. This development underscores the Emirate’s growing interest and investment in artificial intelligence (AI).
Approximately 90 new AI companies were established in just six months, demonstrating a remarkable growth rate of 41.3% during H1 2024 compared to last year.
Data revealed the establishment of one AI company every two days during H1, according to a recent study conducted by the Chamber.
Furthermore, an earlier report indicated a significant increase in registered AI companies in the Emirate, expanding at a compound annual growth rate (CAGR) of 67% from 2021 to 2023.
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Abu Dhabi as a Global Hub for AI and Innovation
The remarkable growth of Abu Dhabi’s AI sector underscores the Emirate’s strategic effort to position itself as a leading hub for technological innovation and business at regional and global levels.
Comprehensive digital services tailored to meet the needs of AI companies are being offered by the Chamber, facilitating access to resources, information, market insights, and support for further technological development.
The Chamber’s recent findings also revealed that commercial activities related to innovation and AI research and consultancy dominated the sector, accounting for an impressive 69% of all AI-related activities.
AI training activities ranked second, demonstrating 11%, while the management and operation of AI robotic systems comprised 10%. Wholesale trading of AI training accounted for 8%, and the retail of AI robots made up the remaining 2%.
The study highlighted the pivotal importance of the Abu Dhabi Chamber in supporting AI companies within the Emirate. Through the Chamber’s support in providing a platform for communication and collaboration, facilitating commercial exchange, and developing policies, the Emirate’s AI enterprises are poised to thrive.
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Global AI Initiatives of the Emirate
Among the Chamber’s leading global initiatives is the ChamberGPT AI platform, recording over 6,000 interactions from 85 countries and marking a 39% growth in the number of messages received during the second quarter of 2024. Additionally, the initiative saw a staggering 166% rise in the number of countries contributing to these interactions in H1.
Moreover, the Abu Dhabi Chamber plays a crucial role in fostering advancements in the AI landscape in the Emirate by providing essential support and resources to AI companies and encouraging collaboration between the regulatory bodies and the private sector.
The growing interest in AI investments marks the effectiveness of the Emirate’s initiatives aimed at promoting economic growth while driving AI innovation.
By promoting the adoption of innovation and digital transformation, the Chamber’s initiatives bolster the local AI landscape and reinforce Abu Dhabi’s ambition to be the premier destination for innovation, business, and talent in the Middle East and North Africa (MENA) region by 2025.
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