Dubai Chamber of Digital Economy has announced its significant achievements in 2024, including supporting the launch and growth of 1,210 digital startups, marking a remarkable 120% increase from the previous year. The chamber also trained 1,333 Emiratis in mobile app development under the “Create Apps in Dubai” initiative, a key programme aiming to enhance digital...
DeepSeek, a new AI model from China, has captured attention in the UAE for its ability to provide responses that users describe as “more natural” compared to its competitor, ChatGPT. However, its launch faced challenges when a large-scale cyberattack hindered many residents from downloading the app on Monday. Despite this setback, DeepSeek’s claims of using...
The International Free Zone Authority (IFZA) has entered into a strategic partnership with RAKBANK, aiming to enhance business and financial solutions for its partners. This collaboration is designed to provide a comprehensive range of tailored banking services for entrepreneurs and businesses operating under IFZA, which is in line with their mutual goal of fostering business...
Chinese startup DeepSeek has achieved a remarkable milestone by overtaking its competitor ChatGPT to become the top-rated free application on Apple’s App Store in the United States. This accomplishment was announced on Monday and comes as the company’s artificial intelligence Assistant, powered by the DeepSeek-V3 model, gained significant traction among U.S. users since its release...
Agentic AI is transforming the automotive sector by offering advanced customer engagement solutions that move beyond traditional scripted responses. Unlike conventional chatbots that follow rigid decision trees, Agentic AI operates autonomously, enabling it to understand context, make decisions, and execute complex workflows without needing human intervention. This shift is particularly significant in industries requiring real-time...
Saudi Arabia hit a new milestone in 2024 with a record 178 venture capital (VC) deals, making up 31 percent of all VC transactions in the MENA region, according to a report by MAGNiTT, sponsored by Saudi Venture Capital Company (SVC). According to Economy Middle East, the Kingdom also retained its top position in MENA...
Artificial Intelligence (AI) is increasingly becoming a part of our daily lives, influencing various sectors in ways we might not always recognize. While the arrival of computers once sparked fears of job loss, history shows that they have created new roles, such as computer engineers and IT specialists. Now, AI is stepping into the spotlight,...
Venture asset manager Sigma Capital has launched the Sigma Capital Fund I, a $100 million initiative aimed at reinforcing the UAE’s position as a leader in blockchain innovation and institutional investment. This fund is designed to stimulate advancements in Web3, specifically targeting early-stage ventures in the region and beyond. The scope of the Fund includes...
Catalyst, the first technology startup accelerator in the region focused on sustainability and clean technology, announced three new direct investments and the launch of its tenth cohort of startups. This announcement was made at the World Future Energy Summit in Abu Dhabi on January 14, 2025. The new investments include AeD energy, Batsand, and Solumar,...
Halo AI, a company focused on transforming brand and creator collaborations, has successfully closed a seed funding round of US$6 million. The funding round was led by Raed Ventures and Shorooq, and included participation from strategic investors such as former senior executives from Snapchat, leaders from Microsoft and Airbnb, as well as executives from Amazon...