Tech News
Presight Delivers Record-Breaking Financial Performance for FY 2024
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.
Tech News
HISENSE EXPANDS PRESENCE IN THE UAE WITH NEW BRAND SHOWROOM AND CARE HUB OPENINGS
Hisense, a leading brand in global consumer electronics and home appliances, continues to strengthen its footprint in the UAE market with the opening of two new strategic locations in Dubai: the new Hisense – Avatar Trading brand showroom in Bur Dubai and the new Hisense Care Hub and showroom near Dubai Airport. These openings mark a significant milestone in Hisense’s regional expansion strategy, reinforcing the brand’s commitment to delivering premium technology experiences and enhanced customer support across the UAE.
The newly launched Hisense and Avatar Trading brand showroom in Bur Dubai offers consumers a dedicated destination to experience the latest innovations from Hisense across home entertainment and home appliances. The showroom showcases Hisense’s newest premium technologies, including large-screen MiniLED TVs powered by advanced AI capabilities, flagship PureView and PureFlat refrigerators, premium washing machines, dishwashers, small kitchen appliances, and a wide range of smart and eco-friendly air conditioning solutions.
The showroom also highlights the Hisense smart ecosystem through the ConnectLife platform, enabling consumers to experience how connected living and AI-powered technologies can seamlessly integrate across multiple product categories.
Ashish Kapur, Managing Director of Avatar Trading, said: “We are proud to strengthen our partnership with Hisense through the opening of this new premium showroom in Bur Dubai. This space is designed to provide customers with a hands-on experience of Hisense’s latest innovations and technologies, while supporting the growing demand for premium consumer electronics and home appliances in the UAE market.”
In parallel, Hisense also announced the opening of its new Care Hub and showroom near Dubai Airport, further reinforcing the company’s investment in after-sales excellence and customer experience in the UAE. The dedicated facility is designed to enhance after-sales services and provide customers with a seamless support experience, while also offering a modern showroom environment where visitors can explore and experience the latest Hisense technologies and products firsthand.
During the launch, Jason Ou, President, Hisense Middle East, Africa, and India, emphasized the strategic importance of the UAE market to the company’s regional growth plans. “The UAE remains one of our key strategic markets in the region, and these openings reflect our continued commitment to strengthening our presence and accessibility across the country. Through our strong partnership with Avatar Trading and the launch of our new Care Hub and showroom, we aim to deliver a more premium, connected, and customer-focused experience for consumers in the UAE,” he said.
He added: “These investments reinforce our confidence in the long-term potential of the UAE market and support our vision of expanding both our product accessibility and after-sales capabilities, while continuing to elevate the consumer experience across the region.”
The openings also reflect Hisense’s broader vision of driving innovation and smart living experiences in the region, while continuing to strengthen its premium positioning and long-term investment in the UAE market.
Tech News
EXPERIENCE THE FUTURE OF CLOUD ANYWHERE AT CLOUDERA EVOLVE26 DUBAI

Cloudera, the only company bringing AI to data anywhere, today announced it will host its annual global data and AI conference, EVOLVE26, in Dubai on 05 November 2026.
With a focus on attracting global talent, investing in innovation, and building a strong digital economy, the UAE has positioned itself at the forefront of artificial intelligence adoption through its National Strategy for Artificial Intelligence 2031. The country aims to become a global hub for AI by integrating advanced technologies across key sectors and strengthening government performance. According to PwC, AI is expected to contribute 13.6% of the UAE’s GDP, compared to 12.4 % in Saudi Arabia and 8.2% in the rest of the GCC.
Supporting this regional vision, Cloudera’s EVOLVE26 conference will bring together industry visionaries, customers, and partners to explore how enterprises can unlock the full value of AI by accessing data anywhere, and with a consistent cloud experience that enables organizations to run AI anywhere across public clouds, on-prem data centers, and the edge.
It will focus on reducing risk, strengthening security and governance, controlling costs, and unlocking data to drive measurable business outcomes for organizations, especially those in regulated industries operating in hybrid environments.
Through visionary keynotes, industry-focused sessions, interactive hands-on labs, and exclusive ‘Meet the Experts’ meetings, attendees will gain actionable insights into leveraging AI for transformative impact. The conference will also feature breakout sessions and technical talks centered on three core themes:
- Operationalizing AI Across Hybrid and Multi-Cloud Environments: Discover proven strategies from pioneers successfully moving Agentic AI from pilot to production. Hear global thought leaders unpack the Era of Convergence and address real-world challenges, such as data gravity and sovereignty, equipping organizations with a clear roadmap for smarter decision-making across hybrid and multi-cloud environments.
- Building Enterprise Expertise and Ecosystem Advantage: Engage with a global community of data architects, partners, and AI experts through curated networking opportunities and collaborative, hands-on experiences. Advance your career through expert-led training, certifications, and candid customer case studies highlighting what worked, what didn’t, and how technology was transformed into a competitive advantage.
- Designing High-Performance Data Strategies for Measurable Impact: Meet one-on-one with executives and technical specialists to shape a tailored, high-performance data strategy. Leave with fresh perspectives, practical next steps, and lasting relationships that empower you to scale innovation and deliver measurable business results.
There will also be an expo zone showcasing some of the industry’s most ground-breaking solutions for scalable and secure data management, enabling business-critical AI applications and real-time analytics at scale.
Cloudera’s Data Impact Awards will also be announced at EVOLVE26. These prestigious awards recognize outstanding data-driven projects that have made a significant business impact within their organizations, across industries, and globally.
Learn more about EVOLVE26 events. The schedule is as follows:
- Dubai: November 05
- Singapore: August 20
- Sao Paulo: September 10
- New York: October 14
“AI is only as powerful as the data strategy behind it,” said Charles Sansbury, CEO of Cloudera. “At this year’s EVOLVE26, we’re focused on helping enterprises move from experimentation to real results, unlocking the value of AI, no matter where the data lives, without compromise. By bringing together customers, partners, and industry leaders, we’re creating a space to share why a ‘data anywhere approach’ is vital for accelerating measurable business impact.”
Tech News
SYNOLOGY UNDERSCORES NEED FOR CYBER RESILIENCE AND AI-READY INFRASTRUCTURE IN MIDDLE EAST
Synology, a global technology company that enables businesses to manage, secure, and protect their data, highlighted the accelerating shift from traditional backup methods to integrated, resilience‑driven strategies among Middle Eastern enterprises during a successful online media briefing it recently hosted.
The company emphasized the urgent need for businesses to modernize their data protection strategies as rising cyber risks, accelerating AI adoption, and evolving data sovereignty requirements continue to redefine the region’s digital landscape. Recent reports indicate that cyberattacks across the GCC have surged by nearly 40 percent year on year, with the UAE alone experiencing more than 200,000 attempted intrusions per day. This points to the critical need for more robust, adaptive, and forward-looking data protection strategies.
During the session, Synology underscored a significant shift among regional enterprises towards comprehensive approaches for continuous data protection, enhanced recovery readiness, and secure infrastructure designed to support AI-driven innovation. Mike Chen, Senior Sales Manager at Synology, emphasized that modern organizations require integrated solutions that not only safeguard critical data but also enable operational agility and scalable growth in an increasingly digital economy.
“Data security today is no longer just about backups—it is about building continuous resilience, ensuring rapid recovery, and maintaining full control over critical assets,” said Mike Chen, Senior Sales Manager at Synology. “As AI adoption accelerates, organizations need secure, scalable infrastructure that not only protects against evolving threats but also enables them to innovate with confidence.”
Synology highlighted two priority areas for enterprises in the UAE and wider region. The first is unlocking value from fragmented and unstructured data through integrated storage, hybrid cloud architectures, and AI-driven capabilities such as semantic search and intelligent workflows. The second is strengthening digital sovereignty by enabling organizations to retain full control over their data while meeting evolving regulatory and operational requirements.
The company also pointed to real-world applications of its solutions, citing the Museum of the Future as a case in point. The landmark institution has leveraged Synology’s technologies to support scalable storage, real-time collaboration, and reliable media backup in a high-demand, data-intensive environment.
With more than 14 million installations across over 120 markets, Synology continues to support organizations in building secure, resilient, and AI-ready data ecosystems as digital transformation accelerates across the Middle East.
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