UAE ranks among top 10 nations with most AI firms per capita

The UAE is in the ascendant in the realm of artificial intelligence (AI), supported by government strategic support and investment, a recent report has revealed. 

The GCC state has been ranked 9th around countries ranked on AI companies per million in population, the Global Artificial Intelligence Competitiveness Index report drafted by the International Finance Forum and Deep Knowledge Group, identified. 

The study ranked Singapore first, with 162.8 enterprises, per million in population, followed by Israel (135.2 firms), and Switzerland (73.6 firms). The US (61.2 firms) and Canada (58.3) rounded up the top five. 

The world is hosting about 55,000 AI companies, including startups and mature firms that offer AI products and services. The US houses more than 20,000 such enterprises. 

The top 10 countries, including the UAE, is home to some 73% of the world’s AI companies. The UAE has a total of 490 AI firms, equalling 49.5 firms per million in population. 

The UAE has gone to town on its AI initiatives, becoming the world’s first country to appoint an AI minister. It has also issued its AI Strategy, anticipated to elevate AI’s GDP contribution to $91 billion by 2031. 

“The UAE provides an extremely attractive business environment for AI firms, including zero corporate tax and personal income tax policies, while 100% foreign investment is allowed after a company is established,” the report read. 

The country is also drawing AI professionals with lofty benefits, such as the 10-year residency for AI industry experts. The world’s first AI professional research university MBZUAI is also based out of Abu Dhabi, the UAE capital. 

Türkiye and Saudi Arabia house 510 and 292 AI firms, respectively.