Abu Dhabi is set to become a hub for digitalization and cryptocurrency, as well as a leader in artificial intelligence (AI), according to Larry Fink, Chairman and CEO of Blackrock. During an interview on the inaugural day of the Abu Dhabi Finance Week, Fink stated, “Abu Dhabi shines as a beacon of opportunities across various sectors, including education and sports. I foresee it emerging as a central player in digitalization and crypto, and a frontrunner in AI. I believe AI will usher in the next industrial revolution. Although Abu Dhabi has a strong foundation in oil and gas, its economy is ripe with potential in new sectors.”
Blackrock, the world’s largest asset manager, oversees $11.5 trillion in assets as of the end of last year. The company was granted a commercial license to operate in Abu Dhabi in November 2024. Recently, Abu Dhabi was recognized as the world’s wealthiest city, with its sovereign wealth funds collectively holding $1.7 trillion in assets.
The first day of the forum saw a significant turnout from officials in both the public and private sectors. Fink further emphasized that Abu Dhabi’s growing importance is due to its continuous innovation, which attracts capital and top talent globally. “Abu Dhabi has evolved and become more significant through constant innovation. It is an economy that is expanding rapidly; it is a key destination for capital and talent. Compared to a decade or two ago, its mindset has transformed. It is blossoming into a magnet for opportunities,” he noted during the interview.
“The allure of a stable and progressive lifestyle is drawing the best talent. The safety here is unparalleled,” he added, expressing his enthusiasm for the opportunities in Abu Dhabi and his optimism about the city’s growth and strategic positioning.
Earlier, Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Global Markets, delivered a welcoming address. “Abu Dhabi is where big ideas are not just thought but built upon on a grand scale. This is where legacies are created. Abu Dhabi exemplifies a renaissance. The title of ‘Capital of Capital’ is not merely a label but a vibrant vision,” he said.
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