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Artificial Intelligence

News, insight and analysis of the developing AI industry in the Middle East, covering artificial intelligence companies and projects in UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and the entire region.

A data centre technician. Amazon, Google and Microsoft are also developing high-tech infrastructure in Southeast Asia

Damac to spend $3bn on data centres in Southeast Asia

Edgnex, the data centre subsidiary of Dubai’s Damac Group, is planning to invest $3 billion in sites across Southeast Asia over the next three to five years.  The investment is part of a $7 billion digital infrastructure strategy that aims to meet rising demand for artificial intelligence and cloud computing, Danish Nayar, Damac’s senior vice-president […]

Attendees at the GAIN AI summit in Riyadh in September. Aramco and Kaust are investing $100m into AI research

Saudi R&D growth fuelled by AI and green industries

Research and development spending in Saudi Arabia increased by 17.4 percent in 2023, and the number of people employed in R&D rose significantly.  Figures released by the General Authority for Statistics showed R&D spending of SAR22.6 billion ($6 billion) in 2023, up from SAR19.25 billion in 2022 and SAR14.5 billion in 2021.  The total number […]

Ed Rawles of Nybl says 'our region lags behind the rest of the world when it comes to committing actual cash to new technology' funding for AI Video length: 03:43

Funding squeeze stifles AI innovation in Mena

Emerging technology and AI startups in the Mena region are struggling to find investors. Industry experts say that the Middle East attracts less than 5 percent of global funding for AI because of the lack of specialised venture capital funds that are willing to take risks. “Our region lags behind the rest of the world […]

For AI to be properly integrated into healthcare, doctors need proper guidance, experts say

AI in healthcare is not a cure-all solution

Large language models such as the AI chatbot ChatGPT are gaining traction in healthcare, and Gulf states are investing heavily in the prospect, but LLMs’ integration into clinical practice presents challenges.  A study led by Dr Ethan Goh, published last month in the Journal of the American Medical Association Open Network, tested whether ChatGPT could […]

Cresta has nearly quadrupled its annual recurring revenue and almost doubled its customer base in the last two years

QIA leads $125m funding round for AI startup Cresta

Qatar Investment Authority (QIA) has led the new $125 million funding round for Cresta, a US-based generative artificial intelligence (AI) platform for contact centres. The series D round included World Innovation Lab, Accenture, Comcast Ventures, EnvisionX, LG Ventures, Qualcomm, Scan Health and Workday Ventures. The round included returning investors Andreessen Horowitz, Greylock Partners, J.P. Morgan, Sequoia […]

Adnoc CEO Sultan Al Jaber speaks at the Adipec conference in Abu Dhabi, during which he announced the launch of the EnergyAI project

Oil and gas companies place trust in AI

Race to combat falling oil prices Tech offers huge savings Industry hits recruitment wall Lower oil prices and the race for higher returns are pushing regional and national oil and gas companies to spend billions of dollars on artificia... Register now: It’s easy and free This content is available for registered members only. Register for […]

green startups Saudi solar

AI is sucking up VC funding, claim green startups

Green startups in the region have appealed for VCs to invest more in clean tech and renewable energy hardware, rather than just looking for quick returns in artificial intelligence projects. The venture capital market across the Middle East and North Africa raised $1.3 billion from January to September 2024, with Saudi Arabia securing 39 percent […]

Nvidia shares Jensen Huang

Sales of Nvidia stock soar in UAE in record rally

As Nvidia’s stock market value hit $3.65 trillion on Thursday to make it the world’s most valuable company, so shares are in hot demand among retail investors in the Gulf.  The Californian chipmaker overtook Apple, which previously held the record for the highest closing market capitalisation at $3.57 trillion on October 21. “It’s our most […]

The US is keen to work with go-getting tech companies in the Middle East

US and China in race to get their tech into Gulf markets

Gulf countries are likely to face mounting pressure to adopt American technology as the US tries to exploit its best-in-class semiconductor and artificial intelligence products to muscle China out of their markets before the Asian superpower catches up. The US is walking a fine line between increasing the regional uptake of its chips and software […]

Dan Schulman of Valor Capital Group predicted 15-20 percent unemployment as a result of AI AI future

Leaders all agree: AI will be good – or bad – for the future

Elon Musk thinks it has a 90 percent chance of being for the good of humanity, while critics say it is certain to decimate jobs across the developed world.  Artificial intelligence, or AI, dominated the discussions at Saudi Arabia’s Future Investment Initiative (FII) summit this year like never before, with increasingly upbeat – and dire […]

PIF governor Yasir Al-Rumayyan at the Future Investment Initiative. He said the fund is reducing foreign investments and increasing AI spend Video length: 03:46

PIF renews focus on domestic investment and AI 

Saudi Arabia’s Public Investment Fund is planning to reduce its foreign investments to around a fifth of its total assets under management, as it focuses on domestic funding and artificial intelligence, its governor said on Tuesday.  “Initially we had less than 2 percent of investments internationally, that was with $150 billion assets under management,” Yasir […]

It is hoped the investment fund from Wa'ed Ventures will incentivise local entrepreneurs

Saudi Aramco’s VC unit to invest $100m in AI startups

Wa’ed Ventures, the $500 million venture capital fund owned by Saudi Aramco, plans to invest $100 million in early-stage artificial intelligence startups. It has appointed an advisory board made up of AI leaders to source promising investment and accelerate localisation of the AI industry in the kingdom. The board includes experts with experience at Meta, […]

CrowdStrike's stock price fell after problems with its computer security software but UAE investors have shown interest

UAE investors snap up AI stocks after price drop

UAE investors poured money into artificial intelligence stocks during the third quarter, capitalising on underperforming shares, data from retail trading platform eToro indicates. Blockchain and AI dominated the investments made during the three-month period, as buyers seemingly looked for long-term potential, despite short-term challenges.  The value of CrowdStrike Holdings plummeted more than 40 percent in […]

virtual lawyer Gitex Dubai 2024

AI-driven ‘virtual lawyers’ to launch in UAE

AI-powered “virtual lawyers” are to be launched in the UAE to help process simple cases. The country’s Ministry of Justice said the aim of the project was to speed up legal proceedings for simple cases, with the AI lawyers assisting with entering pleas, submitting documents, and providing services such as text-to-speech, or helping lawyers interact […]

Co-working spaces, such as this one in Riyadh, complement state-led VC funding initiatives for Saudi startups

Saudi Arabia pumps funding into startups as it vies for Mena No 1

Saudi Arabia is piling money and government support into its venture capital industry as it competes with the UAE to attract startups. The VC market across the Middle East and North Africa raised $1.3 billion from January to September 2024 – and Saudi Arabia “led the region”, said startup analyst Magnitt. The kingdom secured “39 […]

The UAE hosts the largest concentration of data centres in the Middle East and North Africa but is grappling with a capacity crunch

Data centre projects struggle for funds despite soaring demand

Data centre projects in the UAE are struggling to secure financing in their early stages despite an urgent need for more facilities to meet soaring demand, observers say.  There are fears this financing gap threatens to slow development and exacerbate the region’s growing shortage of critical data infrastructure needed to fuel digital ambitions. Johan Nilerud […]

A holographic avatar of HPE president Antonio Nearly at Gitex Global in Dubai Video length: 02:21

‘Holograms won’t replace Zoom and Teams… yet’

Star Wars depicted the use of holograms for video conferencing way back in the 1970s, but the technology has yet to move from science fiction to everyday life. This is mostly down to financial and logistical limitations – and an interview with the holographic avatar of HPE president Antonio Nearly has revealed that holograms are […]

Jensen Huang, the DEO of Nvidia

UAE bypasses Nvidia chip restrictions to grow AI capabilities

The UAE has established a way to use Nvidia’s powerful AI chips to boost its own artificial intelligence capabilities, despite recent US export restrictions within the sector. Core42, a subsidiary of Mubadala-backed G42, announced last week that it has developed a specialised system to deploy Nvidia’s H100 Tensor. This new set-up, which the company calls […]