Searching for top Artificial intelligence companies in UAE? Here is a list of top artificial intelligence solutions providers to enhance the workings of your business.
There are still some challenges to overcome though. Incredibly, 88% of the UAE’s population of 10 million people are expatriates, and more than 80% of Emirati youth are employed in the public sector, all of which translates to a private sector that relies heavily on foreign skills. The UAE was the first country in the region to create a national AI strategy and the first in the world to establish a Ministry of Artificial Intelligence. The strategy focuses on using AI to enhance the performance and efficiency of the public sector and to attract investments into AI in multiple other sectors including transportation, healthcare, renewable energy, and education. We queried Crunchbase to find the top-10 AI startups in the UAE based on disclosed funding.
It is essential for the artificial intelligence development solution to blend easily within your organization. Artificial intelligence can readily take their own decisions without human input thereby spotting and solving errors before any damage is done.
Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing (NLP), speech recognition and machine vision.
AI programming focuses on three cognitive skills: learning, reasoning and self-correction.
Learning processes: This aspect of AI programming focuses on acquiring data and creating rules for how to turn the data into actionable information. The rules, which are called algorithms, provide computing devices with step-by-step instructions for how to complete a specific task.
Reasoning processes: This aspect of AI programming focuses on choosing the right algorithm to reach a desired outcome.
Self-correction processes: This aspect of AI programming is designed to continually fine-tune algorithms and ensure they provide the most accurate results possible.
Founded in 2017, Seez has raised $2.8 million to develop an intelligent car-buying platform. The app’s algorithms recognize the car make and model from a smartphone photo, calculate fair price and depreciation for that exact model, and search used car websites for live advertisements of similar cars. The app’s chatbot autonomously contacts sellers and negotiates on behalf of the buyer, giving them 10X the reach and decreasing the time it takes to find the right car from 17 hours to a few seconds, according to founder Tarek Kabrit. The startup is currently active in the UAE, Kuwait, and Saudi Arabia, and plans on expanding into three new countries every year starting with Turkey, South Africa, and Oman. Seez is headquartered in Dubai and has offices in Beirut, Copenhagen, and Paris. Based on their growth so far, the company expects to be profitable next year.
Founded in 2018, Searchie raised $2 million in seed funding last month to develop a recruitment platform that uses an AI personality assessment to find the most suitable candidates for any position. When an employer opens a position on the Searchie platform, freelance recruiters start sourcing candidates who are then video interviewed by an AI assistant that looks at behavioral traits, skills, and cultural fit using the five-factor model of personality traits.
The startup then presents a shortlist of the five best candidates to the employer for further internal interviews making the entire recruitment process more efficient. Employers are charged $25-$50 per interview instead of the usual recruiter success fee of around 20% on the annual salary. After the first version of the platform was released in May 2018, Searchie has quickly signed up clients from 10 countries and is looking to expand to 28 shortly. No mention is being made of how happy recruiters are about having their fees cut so dramatically. (We think recruiting is going the way of the dodo, so who cares really.)
Joining the melee of robo-advisors out there, Sarwa raised $1.5 million to develop their own take on cheap algorithmic investing. Founded in 2016, the firm invests client funds in a portfolio of low-cost ETFs based on the results of a preliminary questionnaire about investment goals, timeline, and risk-taking preferences. Algorithms take care of asset diversification and actual investment while live financial advisers are available to explain the investment process and help set financial goals. Deposits start at $500, and Sarwa charges an advisory fee of 0.85% and an ETF fee of 0.25% for the lowest band of investments per year – pretty steep compared to the largest robo-advisors on the market. Sarwa prides itself with its superior performance compared to ARC Private Client Indices, a composite index of discretionary private portfolio performance of over 70 investment houses.
Founded in 2016, Derq has raised $1.5 million to develop a system that predicts and prevents road accidents using AI and vehicle-to everything communications technology. The system uses cameras on the road to detect dangerous driver behavior, predict potential accidents, and alerts other drivers in the vicinity two seconds before an accident happens using a device that’s fitted into each car on the road – ideally.
Founded in 2014, Votek has raised $1 million to develop speech recognition technology for the various dialects of Arabic. The speech recognition algorithms provide 95% accuracy and can be trained to recognize specific accents as well. The startup has customized its engine for three domains: smart government apps, a virtual assistant for mobile apps and customer service, and smart toys for children. A key benefit of Votek’s technology is that it can be used offline and doesn’t need to send requests to a server during operation. The company’s customer service offering is currently used by Dubai’s governmental housing establishment while the smartphone-connected toy is on sale in the UAE. Founder Lojain Jibawi plans to develop the toy’s educational content and create a version geared towards autistic children as well in the future.