Abu Dhabi witnesses 67% annual increase in number of AI company registrations: Study

A new study developed by the Business & Economics Intelligence Sector at the Abu Dhabi Chamber of Commerce and Industry revealed that the number of AI companies registered in Abu Dhabi grew at a compound annual rate of 67% between 2021 and 2023. The substantial increase in the registration of companies further bolsters Abu Dhabi’s position as a prominent global player in the AI industry.

The research sheds light on Abu Dhabi’s ambitions to maximize the benefits of utilizing AI systems, applications, technologies, and solutions. The aim is to leverage these advancements to serve humanity and contribute to sustainable development across various social, economic, and other aspects of life.

In this context, the Abu Dhabi Chamber places particular emphasis on AI investment, aligning with its vision to enhance the reputation and standing of the private sector in Abu Dhabi. This involves implementing supportive policies and adopting innovation and digital transformations to contribute to making the Abu Dhabi the first choice in the Middle East and North Africa (MENA) region for doing business by 2025.

Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, said: "Today, Abu Dhabi is one of the most pioneering destinations thanks to its efforts in enhancing the contribution of AI to sustainable development. It is expected that the sector will contribution an additional $13 trillion to global economic activity by 2030, an increase equivalent to 16% in cumulative global GDP compared to the present. These efforts align with the forward-looking vision, under the guidance and support of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan.

This commitment is further underscored by the adherence to the UAE National Strategy for Artificial Intelligence 2031 and is in line with the UAE Centennial Plan 2071, which aspires to make the UAE a global leader in all fields.”

The study affirms that Abu Dhabi will be one of the most attractive Arab and international destinations for investors.

"The Abu Dhabi Chamber is committed to aligning with Abu Dhabi’s approach in AI. It has been a forerunner among chambers of commerce globally, activating the use of the first AI-powered platform (ChamberGPT), dedicated to handling business processing inquiries in Abu Dhabi, topping international indicators in the active usage of such platforms since its launch in 2023,” he added.

He said: "As the AI landscape becomes clearer in Abu Dhabi, the private sector and investors are increasingly interested in establishing companies that focus on innovation and artificial intelligence research and consultancies. There is also a surge in the management and operation of AI robotic systems in various business sectors.”

"There is no doubt that the decision to focus on AI is not impulsive. The Abu Dhabi government launched the Advanced Technology Research Council in May of 2020; leading to the establishment of AI71, an AI company dedicated to enhancing decentralized data control globally. Additionally, the Technological Innovation Institute (TII) was established to supervise research related to AI, data science, autonomous robots, etc., as well as the Mohamed Bin Zayed University of Artificial Intelligence (MBZUAI), which is ranked among the 30 most prominent worldwide institutions for AI, computer vision, machine learning, and natural language processing,” he added.

The study affirms that all the aforementioned indicators, along with others, reinforce expectations that Abu Dhabi will be one of the most attractive Arab and international destinations for investors, startups, and talents in the field of AI. Notably, it also stands out as the most well prepared for the future, ready to capitalize on the integration of AI across diverse economic sectors and sustainable development tracks.

WAM