Today's Edition
SARA ALZAABI (ABU DHABI)
Presight, the Abu Dhabi-based leader in AI-powered big data analytics and a key entity within the G42 ecosystem, closed 2024 on a high note with a bold international expansion strategy and strong financial results.
The company, listed on the Abu Dhabi Securities Exchange (ADX), deepened its footprint across high-growth markets, positioning itself as a transformative force.
"At the forefront of AI-driven transformation, we harness AI and big data to enhance decision-making, automate complex processes, and create tangible value across industries," said Dr. Sultan Ahmed Al Jaber, Chairman of Presight. "Looking ahead, our focus remains on scaling innovation, expanding global reach, and ensuring AI is harnessed for the benefit of all. By driving technological excellence and global impact, we are reinforcing the UAE's leadership in AI-powered transformation."
Presight's global expansion strategy in 2024 targeted regions where AI adoption is accelerating across industries. The company expanded its operations to Kazakhstan, Azerbaijan, Jordan, and Angola, and secured multi-year contracts across the Middle East, Central Asia, and Africa. These moves are aligned with the UAE's broader vision of enabling smart, AI-powered governance and economic progress.
In Jordan, Presight was awarded a major national contract to spearhead the AI-powered digital transformation of the healthcare sector, in collaboration with the Ministry of Digital Economy and Entrepreneurship (MODEE). The initiative is poised to establish the foundation for nationwide smart healthcare infrastructure, improving care delivery through predictive analytics and automation.
In Kazakhstan, the company partnered with Samruk-Kazyna and the Ministry of Digital Development to develop the nation's first AI supercomputer and data centre cluster. This initiative is a cornerstone of the country's AI infrastructure roadmap and is expected to play a pivotal role in advancing Kazakhstan's industrial automation and digital strategy. "With Presight by our side in our joint venture, I believe Kazakhstan strides confidently into the realm of advanced AI, setting new standards and unlocking limitless potential," said Nurlan Zhakupov, CEO of Samruk-Kazyna.
Further expanding its influence in Africa, Presight established operations in Angola, among other countries, to support public and enterprise-level transformation programmes. These initiatives contributed to a six-fold increase in international revenue in Q4 2024 alone, with global markets now accounting for 23% of full-year revenue.
The company also fortified its AI infrastructure through global partnerships with Dell and Intel, ensuring its solutions remain adaptable to regional needs and scalable across markets. The acquisition of AIQ, a joint venture with ADNOC focused on industrial and energy AI, was another defining moment in 2024. It enhanced Presight's capabilities in AI-powered sustainability and real-time process optimisation across the energy sector.
Thomas Pramotedham, CEO of Presight, noted: "We are not just developing AI-we're deploying it at scale. Our solutions are helping nations and enterprises around the world adopt AI to power smarter decisions, enhance resilience, and build for the future."
Financially, Presight recorded strong growth, with revenue rising 24.3% year-on-year to Dh2.213 billion, and net profit increasing 7.4% to Dh612.8 million, despite the introduction of a 15% corporate tax. EBITDA grew by 25.2% to Dh635 million, reflecting operational efficiency and scalability.
With a robust backlog of Dh2.99 billion (and a pro forma backlog of Dh4.76 billion including pending agreements), Presight enters 2025 with strong momentum and revenue visibility. Backed by a solid balance sheet and a debt-free position, the company is poised to continue shaping the global AI ecosystem.
