Why Is AdS Space Ideal for Formulating String Theory and Holography?

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In AdS/CFT, we have the GKP-witten relation

$$\left< \exp \left( i \int \phi^{(0)} O \right) \right> = e^{-S[\phi^{(0)}]}$$

why is it natural to formulate string theory on an AdS space? is it a natural background for some particular definite reasons? Is holography naturally formulated in an AdS background?