Company Insights Presight Artificial Intelligence Presight Overview Presight is an Abu Dhabi-based company that combines big data, analytics and AI technology to provide insights across multiple sectors. It was founded in 2020 and is majority-owned by Emirati AI development holding company G42 (Group 42 Holding). Presight was listed on the Abu Dhabi Securities Exchanges in March 2023. In September 2023 International Holding Company acquired a 15.52% stake in Presight. Presight’s omni-analytics platform, TAQ, which includes over 100 AI machine learning models, powers all of its verticals, covering public services, finance, sports, utilities, climate and education. In 2024 Presight bought a controlling stake in AIQ, which serves AI-powered solutions to the energy sector. The same year it signed new technology partnerships with Intel, Dell and Obvious Technologies, as well as the energy-focused joint venture, IntelliGrid, with Esyasoft Technology. Presight has AI analytics operations in 15 countries across four continents, with more than 25 projects in the UAE and Mena region. Presight’s growth strategy focuses on international expansion, inorganic growth, and research and development. Presight News Analysis Markets Tough IPO rules deter UAE tech startups from listing The UAE’s burgeoning startup sector has helped it become a centre for tech innovation, yet almost none of these fledgling companies have gone public due to stock market regulations. Since 2021 the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) have welcomed a flurry of initial public offerings as part-privatised government-related companies diversify […] February 19, 2024 Tech Domestic deals push Presight AI’s profit up 5% to $155m Presight AI Holding, part of Abu Dhabi artificial intelligence group G42, said 2023 net profit rose 5.1 percent year on year to AED570.6 million ($155.35 million) in 2023, supported by major domestic project deployments. Revenue jumped 14.7 percent to AED1.78 billion last year from AED1.55 billion in 2022. Net profit rose marginally by 0.4 percent year on year […] February 8, 2024 Analysis Trade UAE and Kazakhstan launch trade investment platform The UAE and Kazakhstan have announced the launch of a new investment vehicle focused on high-growth sectors. The countries are planning $1 billion in annual bilateral trade. Abu Dhabi’s ADQ and the Qazaqstan Investment Corporation (QIC), the main driver of direct investment into Kazakhstan, said the focus will be on food and agriculture, mobility, healthcare, […] December 7, 2023 Analysis Banking & Finance Middle East IPO drive likely to cool in second half of 2023 The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […] July 10, 2023 Banking & Finance IPOs boost Abu Dhabi’s bourse despite stock sell-off The market capitalisation of the Abu Dhabi Securities Exchange rose by $43.7 billion in the first half of 2023. The listings of two Abu Dhabi National Oil Company (Adnoc) subsidiaries more than offset a sustained decline on the bourse’s index and a slump in stock trading. Since late 2021, a flurry of initial public offerings […] June 28, 2023 Markets UAE stock markets surge $60bn in value in H1 2023 The market value of UAE stock exchanges rose by AED220 billion ($59.89 billion) in the first six months of 2023 to AED3.43 trillion, boosted by higher demand from foreign investors and new listings. Four new listings boosted the market value of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), the UAE […] June 28, 2023 Markets Adnoc to float 15% of its maritime logistics subsidiary UAE’s Abu Dhabi National Oil Company (Adnoc) will float a 15 percent minority stake in its maritime logistics subsidiary, as the Gulf state ramps up plans to list government-backed entities. The listing for Adnoc Logistics & Services (L&S) on the Abu Dhabi Securities Exchange is expected to open on May 16, the UAE state-owned Wam […] May 10, 2023 Business of Sport G42 to give Mercedes a push in Formula One The Mercedes Formula One team is relying on a partnership with an Abu Dhabi based tech company to develop artificial intelligence to give it an edge on the track. A multi-year deal aims to harness the potential of AI as the two companies explore ways to embed software and tech solutions in the team’s operations, […] May 5, 2023 Banking & Finance Gulf IPO market could ride out global jitters with state offerings A wave of initial public offerings in Abu Dhabi shows little sign of abating, despite global market jitters and rising interest rates as investors bet on the emirate’s part-privatisation drive. While Saudi Arabia and Dubai’s bourses have also offered a flurry of new listings over the past 18 months, it’s the UAE capital that is […] April 11, 2023 Tech Abu Dhabi’s AI firm to drive gains for Mercedes F1 team Abu Dhabi-based tech startup G42 and Mercedes-AMG Petronas F1 Team have signed a multi-year partnership that will harness the potential of artificial intelligence (AI). The two entities will explore ways to deploy cutting-edge artificial intelligence software and solutions into the team’s operations to deliver critical insights, Abu Dhabi Media Office said in a statement. The […] February 27, 2023 Posts navigation
Analysis Markets Tough IPO rules deter UAE tech startups from listing The UAE’s burgeoning startup sector has helped it become a centre for tech innovation, yet almost none of these fledgling companies have gone public due to stock market regulations. Since 2021 the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) have welcomed a flurry of initial public offerings as part-privatised government-related companies diversify […] February 19, 2024
Tech Domestic deals push Presight AI’s profit up 5% to $155m Presight AI Holding, part of Abu Dhabi artificial intelligence group G42, said 2023 net profit rose 5.1 percent year on year to AED570.6 million ($155.35 million) in 2023, supported by major domestic project deployments. Revenue jumped 14.7 percent to AED1.78 billion last year from AED1.55 billion in 2022. Net profit rose marginally by 0.4 percent year on year […] February 8, 2024
Analysis Trade UAE and Kazakhstan launch trade investment platform The UAE and Kazakhstan have announced the launch of a new investment vehicle focused on high-growth sectors. The countries are planning $1 billion in annual bilateral trade. Abu Dhabi’s ADQ and the Qazaqstan Investment Corporation (QIC), the main driver of direct investment into Kazakhstan, said the focus will be on food and agriculture, mobility, healthcare, […] December 7, 2023
Analysis Banking & Finance Middle East IPO drive likely to cool in second half of 2023 The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […] July 10, 2023
Banking & Finance IPOs boost Abu Dhabi’s bourse despite stock sell-off The market capitalisation of the Abu Dhabi Securities Exchange rose by $43.7 billion in the first half of 2023. The listings of two Abu Dhabi National Oil Company (Adnoc) subsidiaries more than offset a sustained decline on the bourse’s index and a slump in stock trading. Since late 2021, a flurry of initial public offerings […] June 28, 2023
Markets UAE stock markets surge $60bn in value in H1 2023 The market value of UAE stock exchanges rose by AED220 billion ($59.89 billion) in the first six months of 2023 to AED3.43 trillion, boosted by higher demand from foreign investors and new listings. Four new listings boosted the market value of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), the UAE […] June 28, 2023
Markets Adnoc to float 15% of its maritime logistics subsidiary UAE’s Abu Dhabi National Oil Company (Adnoc) will float a 15 percent minority stake in its maritime logistics subsidiary, as the Gulf state ramps up plans to list government-backed entities. The listing for Adnoc Logistics & Services (L&S) on the Abu Dhabi Securities Exchange is expected to open on May 16, the UAE state-owned Wam […] May 10, 2023
Business of Sport G42 to give Mercedes a push in Formula One The Mercedes Formula One team is relying on a partnership with an Abu Dhabi based tech company to develop artificial intelligence to give it an edge on the track. A multi-year deal aims to harness the potential of AI as the two companies explore ways to embed software and tech solutions in the team’s operations, […] May 5, 2023
Banking & Finance Gulf IPO market could ride out global jitters with state offerings A wave of initial public offerings in Abu Dhabi shows little sign of abating, despite global market jitters and rising interest rates as investors bet on the emirate’s part-privatisation drive. While Saudi Arabia and Dubai’s bourses have also offered a flurry of new listings over the past 18 months, it’s the UAE capital that is […] April 11, 2023
Tech Abu Dhabi’s AI firm to drive gains for Mercedes F1 team Abu Dhabi-based tech startup G42 and Mercedes-AMG Petronas F1 Team have signed a multi-year partnership that will harness the potential of artificial intelligence (AI). The two entities will explore ways to deploy cutting-edge artificial intelligence software and solutions into the team’s operations to deliver critical insights, Abu Dhabi Media Office said in a statement. The […] February 27, 2023
