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Presight Delivers Record-Breaking Financial Performance for FY 2024

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Financial Performance

Presight AI Holding PLC recently announced its financial results for the full year ending December 31, 2024. Presight’s FY 2024 results saw record revenue of AED 2,213 million, an increase of 24.3% compared to FY 2023 as the Company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations.

The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED 635.4 million due to a favourable deployment mix in FY 2024. At its bottom-line, the Company reported net profit after tax of AED 612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of Corporation Tax.

Presight’s top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the Company’s expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight’s revenue and booked a 3.5x increase to AED 508.2 million in FY 2024.

Moreover, Presight’s highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight commented:

“Presight’s full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.”

Thomas Pramotedham, Chief Executive Officer of Presight, commented:

“The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realizing their strategic AI ambitions by adopting ‘Applied Intelligence’ today.

“FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth.

“We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology.

“We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world’s first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition.

“These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders. 

“I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.”

The 2024 business highlights include:

  • Renewed existing and negotiated new domestic/international contracts with a value of AED 3.6 billion.
  • Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate ‘Applied Intelligence’ AI projects across the region.
  • Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector.
  • Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain.
  • Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan.
  • Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions.
  • Launched Presight DataHub, the UAE’s first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program.
  • Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors.
  • Received the “UAE AI Data Analytics Innovator of the Year” Award by Dell Technologies.
  • Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications.

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New Rubrik Agent Cloud Accelerates Trusted Enterprise AI Agent Deployments

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New Rubrik Agent Cloud Accelerates Trusted Enterprise AI Agent Deployments

AI agents represent the biggest opportunity and the biggest threat to organizations everywhere. Rubrik, Inc., the Security and AI Operations Company, today announced the launch of the Rubrik Agent Cloud to accelerate enterprise AI agent adoption while managing risk of AI deployments.

AI transformation is now mandatory for most organizations. However, IT leaders are constrained because Agentic AI has significant risks including hallucination as well as compromise by threat actors. Rubrik Agent Cloud is designed to monitor and audit agentic actions, enforce real-time guardrails for agentic changes, fine-tune agents for accuracy and, finally, undo agent mistakes. Built on the Rubrik Platform that uniquely combines data, identity and application contexts, Rubrik Agent Cloud gives customers security, accuracy, and efficiency as they transform their organizations into AI enterprises.

“IT and security leaders often don’t know what their AI agents are doing or how to undo their mistakes. Rubrik wants to help them answer: ‘What agents do I have?’ ‘What are they capable of doing?’ ‘How are they performing?’ ‘What did they do?’ and ‘Can I undo that when they screw up?’ said Bipul Sinha, CEO, Chairman, and Co-Founder of Rubrik. “AI agents have the potential to cause 10x the damage in 1/10 of the time. With Rubrik Agent Cloud, we uniquely address this challenge by leveraging our leadership in data, identity, and resilience to help our customers deploy AI agents with peace of mind.”

Accelerate Enterprise AI Deployment and Resilience 

Rubrik Agent Cloud will offer comprehensive agent management capabilities that encompass the entire AI agent lifecycle – from observability and control to performance management and simulation. 

  • Agent Monitor:
    • Auto-discovers both infrastructure-as-a-service (Azure/AWS) agents as well as platform-as-a-service (M365/AgentForce) agents. 

○ Automatically discovers and maps active agents across popular agent builders such as OpenAI, Microsoft Copilot Studio, Amazon Bedrock and other popular agent building tools. 

○ Continuously monitors agent activity and data access, and maintains immutable audit trails capturing context from data, identity, and applications. 

  • Agent Govern:
    • Tracks agent usage, evaluates performance against prompts, and gives teams the tools to control destructive/undesired actions.

○ Defines and enforces agent behavior, access, and action policies in real-time. 

○ A centralized tool to provide integration with enterprise identity systems—helping ensure secure, compliant, and controlled innovation.

  • Agent Remediate:
    • Announced in August 2025, Agent Rewind integrates with Rubrik Security Cloud to provide the industry’s only solution for precise time and blast radius rollback of undesirable or destructive actions.

○ Goes beyond observability to allow organizations to instantly undo unwanted or destructive actions, without any downtime or data loss. 

○ Selective rollback of agent-driven changes ensures continuous protection for critical data and systems, and immutable recovery.

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UAE’s AI market set to soar to Dh170 billion by 2030, driving MENA’s Dh610 billion Artificial Intelligence boom

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UAE’s AI market set to soar to Dh170 billion by 2030, driving MENA’s Dh610 billion Artificial Intelligence boom

The UAE’s Artificial Intelligence (AI) market is forecast to hit Dh170 billion (USD 46.33 billion) by 2030, according to new data from Grand View Research (GVR) in a study that underscores the country’s accelerating dominance in the region’s USD 166 billion (Dh610 billion) AI boom.

Close on the heels of the UAE unveiling its first Arabic-language AI model earlier this year, the new research by the California headquartered- firm reveals that the MENA AI market, valued at USD 11.92 billion (Dh43.7 billion) in 2023, is set to expand almost fifteen-fold to USD 166.33 billion (Dh610 billion) by 2030, growing at an annual rate of 44.8 percent.

“The Middle East, and especially the UAE, is no longer just an adopter of global AI technologies – it’s, in fact, shaping its own playbook,” said Swayam Dash, Managing Director at Grand View Research. “With sovereign funds backing innovation, and policies like the UAE’s new Strategic Plan 2031 leading the way with focus on utilising artificial intellegence in achieving greater financial efficiency for the federal government, the region is becoming a laboratory for how AI can drive both governance and growth.”

GVR’s report further highlights that nearly three in four UAE companies have maintained or increased their AI investments in the past year. Machine learning and deep learning remain the backbone of this transformation, particularly in healthcare, logistics, and financial services.

According to the report, the AI in Healthcare market in the Middle East and Africa, valued at USD 193.1 million (Dh 709 million) in 2023, is projected to reach USD 1.47 billion (Dh 5.39 billion) by 2030 growing at a CAGR of 33.6 per cent, while the region’s legal AI sector – currently at USD 43.3 million (Dh 159 million) – is expected to almost triple to USD 121.5 million (Dh 446 million) at a CAGR of 18 per cent over the same period.

“The release of region-specific AI metrics for the first time quantifies what many have sensed – that the UAE and its neighbours are at the tipping point of a generational transformation,” Dash added. “And the next wave of opportunity will come from specialisation. Sectors like healthcare and legal technology are still emerging here and hence the potential is immense. With the AI in regional healthcare market alone projected to touch USD 8.39 billion (AED 30.8 billion) by 2033, we’re looking at a decade of exponential growth. Likewise, the legal AI space, though currently small, represents a first-mover opportunity in digitising governance, compliance, and regulatory frameworks – areas where the Middle East can define its own benchmarks rather than follow global ones.”

The study also notes how the MENA region is further emerging stronger as one of the world’s most dynamic AI frontiers driven particularly by government-led digital transformation agendas, rapid urbanisation, and the rollout of AI-enabling technologies such as 5G, cloud, and IoT,

“Machine learning and deep learning continue to dominate adoption across smart-city initiatives, healthcare, and urban management ­– with the UAE leading the charge in real-world integration,” said Dash.

The full Grand View Research MENA AI Market Report offers an in-depth analysis of these evolving trends, uncovering how data, policy, and innovation are converging to redefine the region’s digital economy.

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FVC and SearchInform Join Forces to Boost Insider Threat Prevention and Data Protection in MENA

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FVC and SearchInform Join Forces to Boost Insider Threat Prevention and Data Protection in MENA

FVC, a prominent distributor specialising in innovative technology solutions, is pleased to announce its strategic partnership with SearchInform, a leader in information security and insider threat prevention solutions. Together, they are committed to strengthening organizations’ defenses against data leaks, corporate fraud, human-factor related risks.

K.S. Parag, Managing Director, FVC:

“We are excited to welcome SearchInform to our cybersecurity portfolio. The company offers the most powerful and localized DLP on the MENA market. SearchInform solution stands out from the competition due to a number of advantages. The system can be deployed within a few hours, protects the maximum number of data transfer channels, provides smart content-based blocking for all controlled channels and also use digital watermarks to trace the source of potential leaks. SearchInform DLP supports analysis of data in Arabic and has security policies, tailored for requirements of local organizations, enabling timely detection and prevention of confidential data leaks. The solution leverages AI to monitor atypical data transfer channels, recognize graphic elements, transcribe audio into text, detect attempts to photograph PC screens with smartphones.”

SearchInform offers a range of products, including DCAP, DLP, and SIEM. All the tools are seamlessly integrated. Technical support is provided through a specialist assigned to the company, who has extensive experience thanks to clients from various fields.

Commenting on the Partnership, Artem Volodin, CEO SearchInform MENA, stated:

“We are proud to collaborate with FVC, whose expertise in the Middle Eastern market will strengthen our efforts to combat insider threats and data leaks. The region needs a comprehensive solution that will enable organizations to meet regulatory standards, including SAMA, PDPL, DCC, ECC, UAE Information Assurance (IA) Regulation etc. and global ones, such as GDPR, PCI DSS. SearchInform delivers tools for data protection and risk mitigation across all levels: FileAuditor secures file systems, DLP covers workstations and human risks, Risk Monitor addresses corporate fraud, and SIEM protects IT infrastructure.”

The partners are currently conducting expert training, partner enablement sessions, and are also negotiating the implementation of SearchInform products in local companies.

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