Abu Dhabi is poised to become a global hub for artificial intelligence (AI), digitalisation, and cryptocurrency, according to Larry Fink, chairman and CEO of BlackRock, the world’s largest asset manager. Speaking during an interview at Abu Dhabi Finance Week, Fink highlighted the UAE capital’s growing prominence as a beacon of innovation and opportunity across various sectors.
“Abu Dhabi is a beacon of opportunities, whether it is education, sports, or any other field. I see it as going to be a centre for digitalisation and crypto and a leader in AI,” Fink stated. “I believe AI is going to be the next industrial revolution. Abu Dhabi has a foundation in oil and gas, but its economy has opportunities in new segments,” he added.
A Growing Global Powerhouse
With $11.5 trillion in assets under management, BlackRock’s recent entry into Abu Dhabi reflects the city’s growing influence in the financial and technological landscapes. In November 2024, BlackRock was awarded a commercial licence to operate in Abu Dhabi, further cementing its commitment to the region.
The city’s wealth and strategic vision have played a critical role in its rise. Abu Dhabi was recently named the world’s richest city, with its various sovereign wealth funds holding assets worth $1.7 trillion.
Fink lauded the UAE capital’s rapid growth and ability to attract global talent and investment. “Abu Dhabi has matured and become more important due to constant innovation. It is an economy that is growing very fast; it is one of the key destinations, attracting capital and talent,” he remarked.
He noted the city’s transformation over the past two decades, calling it a “magnet of opportunities” with a vibrant and progressive environment that attracts the best minds worldwide. “The ability to have a solid and progressive life is attracting the best talent. The safety here is phenomenal,” he said.
A Thriving Vision for the Future
Fink’s sentiments were echoed by Ahmed Jasim Al Zaabi, chairman of Abu Dhabi Global Markets, who opened the forum with an inspiring address.
“Abu Dhabi is the place where you can think big but build even bigger. This is the place where legacies are forged. Abu Dhabi is a model of renaissance. Capital of capital is not just a title but a thriving vision,” Al Zaabi stated.
As Abu Dhabi continues to diversify its economy beyond oil and gas, its innovative approach and strategic investments in AI and cryptocurrency position it as a key player on the global stage. For Fink, the city’s forward-thinking policies and emphasis on safety and stability are driving its emergence as a leader in technology and finance.
“I am very excited by the opportunities in Abu Dhabi and encouraged by watching how this economy is growing and positioning itself,” Fink concluded.
