Most investors in the UAE are turning to artificial intelligence (AI) to generate big profits, according to a new survey.
Almost three-quarters (71%) of Emirates’ retail investors own shares in companies involved in AI development, a study conducted by trading and investment firm eToro has found.
In the first quarter of this year, the platform found that his AI stock was the most popular among his UAE investors. Companies such as NVIDIA, Taiwan Semiconductor, Advanced Micro Devices, Adobe, Intel, and Microsoft are said to be among the fastest-rising companies among UAE investors.
Ben Laidler, global market strategist at US-based eToro, said: “Increased investment in these companies reflects investor confidence in the AI sector’s continued growth and ability to deliver strong returns over the long term.” It’s a manifestation,” he said. The United Kingdom, Australia, Cyprus and Israel are represented.
“This is also in line with the UAE’s efforts to position itself as a technology and innovation hub.”
AI Technology in Investments
Investors are not only embracing AI, but also managing the same technology. It also tends to be used. It’s to use their funds. Around 39% of UAE investors said they already use AI tools such as ChatGPT to select and customize investments.
This trend is evident among Millennials. Almost half (40%) of 25-44 year olds say they use AI technology. Baby boomers and Gen X investors follow at 39% and 38%, respectively. The percentage of investors from Generation Z is 33%.