G42, an Emirati company specializing in artificial intelligence and cloud computing, has announced an undisclosed investment in a new company operating in the field of edge computing and AI, launched in Davos during the World Economic Forum on Thursday. Analog, the Abu Dhabi-based startup, aims to develop AI-powered solutions in computing that will enhance speed and operational efficiency for both individuals and companies.
“Analog was founded to create experiences that simplify and improve daily life,” said Alex Kipman, founder and CEO of Analog, in his talk to The National. “It will be at the forefront of innovation, crafting technology that enhances human capabilities.”
The company explained that it would offer customized solutions to meet the challenging global demands of commercial enterprises, public sector, as well as healthcare and environmental sectors. The AI market is expected to reach $305.9 billion this year, according to Statista, with an anticipated annual growth rate of 15.83%, leading to a market size of $738.8 billion by 2030.
Edge computing is an emerging model that refers to a set of networks and devices close to the user. It processes data near its generation point, enabling processing at greater speeds and volumes, leading to more action-oriented real-time outcomes, according to consulting firm Accenture.
“In traditional AI companies, intelligence comes from pre-trained and digitally stored historical data, while in edge computing, intelligence arises from live, real-time sensor data. Thus, this AI field focuses heavily on understanding the complexities of the real world in real-time, and understanding people, places, and things,” said Mr. Kipman. “We will leverage data from millions of sensors to help businesses increase their profits while innovating human-centric solutions.”
Without revealing other investors, Mr. Kipman stated that G42 is the startup’s largest investor and has made “serious commitments.” He added, “Analog represents the latest addition to G42’s portfolio of AI-supported businesses, and is part of the portfolio focused on AI in edge computing.”
“We don’t think of Analog in a short-term perspective but as a long-term approach to life, and I believe G42 will continue to be a growing player in the AI ecosystem, both regionally and globally,” he said.
Last week, a letter was presented to the U.S. House of Representatives from Representative Mike Gallagher, claiming business ties between G42 and Chinese entities. Among the entities mentioned were major technology company Huawei and the Beijing Genomics Institute, both banned in the United States and allegedly maintaining “active relationships” with G42. However, G42 denied any ties with the Chinese government and military, describing the allegations as “baseless and irresponsible.”
The group recently announced the establishment of Core42, a provider of state-level digital transformation, and the launch of Space42, an AI-powered space technology champion capturing regional and international opportunities in geospatial and mobility solutions, space communications, and commercial intelligence.
Mr. Kipman, who aims to make Analog profitable soon, intends not to raise more funds at this time. “We have enough funds to start and show real progress in the region; that’s the focus rather than raising more money. We are a company made in the UAE, and initially, we want to focus on this market only where we see tremendous potential. Gradually, we will decide to expand into new markets.”
Despite challenges, Analog appears to have a clear vision towards innovation in AI and edge computing. Mr. Kipman emphasizes that the goal is to find technological solutions that improve daily life and enhance efficiency across various sectors.