Virtuzone pioneers the world’s first business setup AI chatbot: ChatVZ

Building on the successful launch of its suite of AI-powered tools, Virtuzone further cements its position as a leading innovator in the company formation and corporate service industry by introducing its latest AI-driven platform: ChatVZ, the world’s first business setup AI chatbot.

Virtuzone, the UAE’s first and leading company formation specialists and award-winning corporate services provider, has programmed ChatVZ to provide complete, detailed and up-to-date answers to any UAE business setup-related questions in just seconds.

Leveraging the ground-breaking capabilities of large language models (LLMs) and generative AI, ChatVZ is designed to make it easier, simpler and faster for people to access information about setting up a business in the mainland and in all of UAE’s free zones. The AI-enabled platform uses OpenAI’s recently released GPT-4 turbo developer update, significantly enhancing the speed and performance of the responses it generates.

ChatVZ is trained on 10 years’ worth of information sourced from Virtuzone’s database of more than 100,000 unique digital interactions, and thus adds over a million new words to GPT’s current dataset. Equipped with a multi-layered security infrastructure, ChatVZ offers stringent data protection and safeguards users’ personal information.

George Hojeige, CEO of Virtugroup, said: “We will continue to harness and maximise the ingenuity and unlimited potential of artificial intelligence to create innovative solutions that will help make entrepreneurship in the UAE more accessible and feasible for everyone. Like TaxGPT, the world’s first AI-powered UAE corporate tax assistant which we launched in May, ChatVZ is aimed at supporting entrepreneurs and boosting start-up activity in the country and continuously underpinning the UAE’s position as a global business hub.”

Damian Brennan, Marketing Director at Virtuzone, said: “ChatVZ follows the success we achieved with TaxGPT, which has now provided over 50,000 answers to UAE corporate tax-related questions. We foresee ChatVZ to deliver the same level of instantaneous responsiveness and precise answers that will guide entrepreneurs and corporates looking to establish their foothold in the UAE. We will continue to harness the new technologies made available by OpenAI to introduce next-generation AI-operated tools, such as an AI-enabled business plan generator and autonomous bots that can amplify operational processing speed.”

About Virtuzone

Virtuzone is the UAE’s first and largest company formation specialists and an award-winning corporate service provider. Established in 2009, Virtuzone has set up the companies of more than 70,000 entrepreneurs from 180 countries. With over 200 staff members speaking 40 languages, Virtuzone provides end-to-end company formation and corporate services, ranging from trade license and visa processing to bank account opening, tax consultancy, compliance, accounting, legal services, and more. Virtuzone is part of Virtugroup, a Dubai-based holding company that comprises Virtuzone Accounting and Tax, VZ Real Estate, VZX, and Next Generation Equity, which offers citizenship and residency-by-investment programs.