emirates7 - The Abu Dhabi Chamber of Commerce and Industry announced that by the end of the second quarter of 2024, over 400 AI companies had been registered in Abu Dhabi, signaling significant growth and rising interest in AI and its applications within the Emirate.
A recent study by the Chamber revealed that, on average, a new AI company was established every two days during the first half of 2024. This rapid expansion has made AI one of the fastest-growing sectors for new company formations, highlighting Abu Dhabi's strong commitment to becoming a global leader in innovation and AI.
In just six months, around 90 AI companies were founded, reflecting a substantial 41.3% growth in the sector compared to the previous year.
A February study by the Chamber had previously noted that the number of registered AI companies in Abu Dhabi grew at a compound annual growth rate (CAGR) of 67% between 2021 and 2023.
The latest study emphasizes that the swift rise in AI companies demonstrates the sector's fast-paced growth in Abu Dhabi, reinforcing the Emirate's reputation as a leading hub for technological innovation both regionally and globally.
It also found that during the second quarter of 2024, the majority of AI-related commercial activities—69%—were focused on innovation, AI research, and consultancy services, indicating the increasing interest from both the government and private sectors in fostering technology-driven economic growth through high-value research and consulting. AI training activities ranked second with 11%, followed by the management and operation of AI robotic systems at 10%. Wholesale AI training accounted for 8%, and retail sales of AI robots made up 2%.
The study highlighted the Abu Dhabi Chamber's key role in supporting AI companies by providing a platform for collaboration and communication, facilitating commercial exchange, and shaping policies that foster a conducive environment for AI company growth.
Through various initiatives, programs, and events, the Chamber serves as a link between AI companies and regulatory bodies in Abu Dhabi and the UAE, ensuring that the sector's current and future needs are addressed.
The Chamber’s study also underscored its crucial role in advancing AI in Abu Dhabi, promoting innovation, and driving digital transformation. This aligns with the Chamber's strategy to position Abu Dhabi as the top destination for business and talent in the Middle East and North Africa (MENA) region by 2025.
To achieve this goal, the Chamber offers comprehensive digital services tailored to the needs of AI companies, providing them with resources, market insights, and the support necessary to thrive in Abu Dhabi’s competitive business landscape.
One of the Chamber's flagship global initiatives is the ChamberGPT AI platform, which received over 6,000 interactions from 85 countries—a 39% increase in messages during the second quarter of 2024 and a 166% rise in the number of countries engaging with the platform during the first half of 2024.
A recent study by the Chamber revealed that, on average, a new AI company was established every two days during the first half of 2024. This rapid expansion has made AI one of the fastest-growing sectors for new company formations, highlighting Abu Dhabi's strong commitment to becoming a global leader in innovation and AI.
In just six months, around 90 AI companies were founded, reflecting a substantial 41.3% growth in the sector compared to the previous year.
A February study by the Chamber had previously noted that the number of registered AI companies in Abu Dhabi grew at a compound annual growth rate (CAGR) of 67% between 2021 and 2023.
The latest study emphasizes that the swift rise in AI companies demonstrates the sector's fast-paced growth in Abu Dhabi, reinforcing the Emirate's reputation as a leading hub for technological innovation both regionally and globally.
It also found that during the second quarter of 2024, the majority of AI-related commercial activities—69%—were focused on innovation, AI research, and consultancy services, indicating the increasing interest from both the government and private sectors in fostering technology-driven economic growth through high-value research and consulting. AI training activities ranked second with 11%, followed by the management and operation of AI robotic systems at 10%. Wholesale AI training accounted for 8%, and retail sales of AI robots made up 2%.
The study highlighted the Abu Dhabi Chamber's key role in supporting AI companies by providing a platform for collaboration and communication, facilitating commercial exchange, and shaping policies that foster a conducive environment for AI company growth.
Through various initiatives, programs, and events, the Chamber serves as a link between AI companies and regulatory bodies in Abu Dhabi and the UAE, ensuring that the sector's current and future needs are addressed.
The Chamber’s study also underscored its crucial role in advancing AI in Abu Dhabi, promoting innovation, and driving digital transformation. This aligns with the Chamber's strategy to position Abu Dhabi as the top destination for business and talent in the Middle East and North Africa (MENA) region by 2025.
To achieve this goal, the Chamber offers comprehensive digital services tailored to the needs of AI companies, providing them with resources, market insights, and the support necessary to thrive in Abu Dhabi’s competitive business landscape.
One of the Chamber's flagship global initiatives is the ChamberGPT AI platform, which received over 6,000 interactions from 85 countries—a 39% increase in messages during the second quarter of 2024 and a 166% rise in the number of countries engaging with the platform during the first half of 2024.