G42, the Abu Dhabi-based artificial intelligence and cloud computing company, has unveiled a new entity that merges three of its key units to focus on delivering AI solutions and services on a national scale.
Core42 – a merger between G42 Cloud, research and development arm Inception and ICT unit Injazat – combines G42's disciplines into a single platform for the public sector and large enterprises, centred on the sovereign cloud, generative AI, cybersecurity, and professional and managed services.
The merger is also expected to attract more capital to Abu Dhabi, which falls in line with the emirate's ambitious digital transformation agenda, Ihsan Anabtawi, executive vice president and chief commercial officer of Core42, told The National.
"We already have these [three G42] group companies plugged into multiple industries that are key to Abu Dhabi. So [Core42] is going to sit at the centre of that," he said in an interview.
Core42 is also looking to bring its services overseas, with an international business agenda to be promoted to governments and other organisations, Mr Anabtawi said.
"A combination of investments, talent, new technologies, infrastructure and R&D will be happening in Abu Dhabi."
The capabilities that Core42 will be bringing to market will also enable its clients to be successful in their digital transformation journey, enabled by AI solutions for the systems that they are to build, said Kiril Evtimov, group chief technology officer of G42 and chief executive of Core42.
In terms of business strategies, companies are "changing their technology road maps and they're making sure that every single feature that they release is AI-driven", Mr Evtimov said.
"They don't even worry so much on the short-term financial impact of their decisions; they view the opportunity and the global race for AI supremacy as a cornerstone."
The UAE has long championed the critical role digital transformation plays in its economy and society, as the country positions itself as a global hub for innovation, with Abu Dhabi leading the way.
The capital's emergence as a regional leader in digital transformation comes following initiatives focused on technologies that include artificial intelligence and the Internet of Things, and the development of smart city initiatives across society, services and the economy.
It also retained its title as the smartest city in the Middle East and North Africa thanks to its digital-first initiatives, Switzerland's International Institute for Management Development's Smart City Index for 2023 showed in May.
Digital transformation is also posing as an enormous opportunity for both economies and businesses that provide related services.
The global digital transformation market is projected to surpass $7 trillion by 2032, from an estimated $752 billion in 2022, growing at a compound annual rate of more than a quarter, latest data from Precedence Research shows.
“In today's dynamic landscape, governments and large enterprises stand at a crossroads, seeking technological prowess to overcome their most formidable challenges. Yet, the limitations of conventional solutions hinder their aspirations," said Peng Xiao, group chief executive of G42.
"Core42 ... is the beginning of a journey towards the realisation of our customers and partners’ most audacious strategic objectives and a testament to the limitless potential of innovation."
The company is being positioned to serve a number of key sectors of the economy, in line with Abu Dhabi's industrial strategies underpinned by technological advancements.
"We operate in multiple sectors – health care, energy, manufacturing, oil and gas, and transportation. So I would say we're sector-agnostic," Mr Anabtawi said.
"We want to bring innovation to as many organisations as we can ... this new entity will be an opportunity for us to contribute to the economic development and ambitions of Abu Dhabi – its modernisation and building a knowledge-based economy."