ADGM to spend over AED400 million on AI capabilities through 2029

Summary

• Abu Dhabi Global Market is investing more than AED400 million through 2029 to expand AI capabilities.
• Spending targets digital infrastructure plus modernised regulatory and operational systems at the financial centre.
• Finance is becoming the UAE's showcase sector for applying AI to capital deployment decisions.

The latest

More than AED400 million will be spent by Abu Dhabi Global Market through 2029 to expand its artificial intelligence capabilities, strengthen digital infrastructure and modernise regulatory and operational systems, WAM reported. The commitment lands as the UAE Ministry of Investment prepares to join global investors and financial institutions at Ai Everything Abu Dhabi 2026, held 6-7 October at the ADNEC Centre.

Details

• The figure: ADGM's spending exceeds AED400 million and runs through 2029, according to WAM. It covers three stated tracks: expanding AI capabilities, strengthening digital infrastructure, and modernising regulatory and operational systems. A year-by-year breakdown of the allocation was not disclosed.
• The ecosystem: ADGM's asset management ecosystem has grown to 190 fund and asset managers overseeing 276 funds, WAM reported. The financial centre is being positioned as the test bed for AI-driven finance, which the agency said is changing how capital is deployed, how investment decisions are made and how banks operate.
• The minister: Mohamed Hassan Alsuwaidi, Minister at the UAE Ministry of Investment, said the ambition is not simply to attract investment but to build and scale more AI companies domestically, deepen local capabilities, create high-value jobs and strengthen the country's standing as a global AI centre.
• Domestic capital: Alsuwaidi placed Domestic Direct Investment at the centre of the strategy alongside foreign inflows. The UAE's DDI is estimated at between US$100 billion and US$119 billion, roughly 2 to 2.5 times annual FDI, with sovereign funds, family offices and private enterprises investing alongside international capital.
• The pitch: Asked what differentiates the country, the minister pointed not to a single incentive but to a combination of factors: long-term government ambition, access to decision-makers, a forward-looking regulatory environment, world-class infrastructure, and the ability to attract and retain talent.
• The event: Ai Everything Abu Dhabi 2026 is described by WAM as the world's largest AI-first expo and summit. It is organised by inD, with the Department of Government Enablement as Host Partner and Solutions+, a Mubadala company, as Global Partner.
• Who attends: Organisers expect more than 400 AI companies and start-ups, over 50 government entities, more than 20 unicorns, over 200 investors managing US$100 billion in assets under management, and more than 180 international speakers across the two days.
• The names: Participating institutions and technology groups include the Advanced Technology Research Council, G42, AWS, Alibaba Cloud, Mistral AI and Dell Technologies. No commercial agreements or investment commitments tied to the event were announced in advance.

Background

ADGM is Abu Dhabi's international financial centre, operating its own regulatory framework. Its expansion into AI-linked infrastructure sits alongside the federal investment ministry's wider push to scale AI applications across sectors rather than confine them to technology firms.

Between the lines

The emphasis on Domestic Direct Investment at two to two-and-a-half times annual FDI signals a pitch aimed as much at local sovereign funds and family offices as at foreign capital. ADGM's AED400 million allocation to regulatory and operational modernisation, rather than to funds or incentives, suggests the bottleneck being addressed is supervisory capacity in a centre already hosting 190 managers and 276 funds.

What's next

The two-day summit runs 6-7 October at ADNEC Centre, where any investment agreements, ADGM regulatory announcements or ministry disclosures on AI company formation would be the first concrete markers of the strategy.

Source: WAM (Emirates News Agency) via Zawya