DUBAI, June 10, 2024 - (ACN Newswire) - His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai and Chairman of the Higher Committee for Future Technology and Digital Economy, today inaugurated the Dubai AI Campus cluster at the Innovation Hub, Dubai International Financial Centre (DIFC).
The move is part of phase one of the annual Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), which was recently launched with the aim of accelerating AI adoption across all relevant sectors, thus creating the optimal nurturing ecosystem for AI businesses and talents to drive innovation in AI.
Sheikh Hamdan said that Dubai continues to launch strategic plans with the aim of accelerating the adoption of AI and its applications in all sectors in line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as a global hub of the digital economy and the preferred destination for major AI businesses and top talent from around the world.
“Our efforts continue to harness the huge potential of advanced technology. The Dubai AI Campus at DIFC is a key step towards achieving our goals of doubling economic growth and increasing AI’s contribution to Dubai and the UAE’s GDP. We are confident this campus will be a key addition to Dubai’s economy by hosting hundreds of businesses and offering thousands of jobs over the next few years, further cementing Dubai’s standing as a favourite destination for tech companies,” His Highness said.
“We prioritise Dubai’s competitiveness and leading position as a hub for the digital economy in all projects and programmes we launch, in line with goals of the Dubai Economic Agenda (D33). Today we move steadily towards a new era of leadership and sustainable growth of Dubai’s economy, which is based on knowledge, innovation, and future tech applications. Dubai will always remain a beacon of economic prosperity, regionally and globally, and the preferred choice of innovative minds,” he added.
Region’s top AI destination
Announced in 2023, the Dubai AI Campus is the largest dedicated cluster of AI and advanced tech in the MENA region. The launch contributes to boosting the objectives of Dubai Economic Agenda (D33), including generating an average AED 100 billion annually for Dubai's economy through digital transformation. Furthermore, it marks another landmark initiative in realising the vision of His Highness Sheikh Mohammed bin Rashid to establish Dubai as a global hub of the digital economy and a key player on the global digital landscape. The new campus also aligns with Dubai’s vision to emerge as the chosen destination among tech businesses and will drive its contribution to innovation and tech integration across all sectors. It is estimated that AI will contribute $230 billion to the Middle East’s economy by 2030, while making up 14% of the UAE’s GDP by 2030. The inaugural ceremony was attended by His Excellency Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; His Excellency Issa Kazim, Governor of the Dubai International Financial Centre; and Arif Amiri, CEO of the DIFC Authority.The Dubai AI Campus cluster will be part of the DIFC Innovation Hub, which offers dedicated co-working spaces to tech startups, including AI businesses. Phase one of the campus is already complete with more than 75 businesses registered on a 10,000-square-foot campus. Phase two of the campus will extend over 100,000 square feet and is set to attract over 500 companies creating more than 3,000 jobs by 2028.
A global hub
His Excellency Essa Kazim welcomed His Highness Sheikh Hamdan to the opening of the Dubai AI Campus, saying the cluster will accelerate the realisation of goals of the Dubai Economic Agenda while supporting future technology and digital economy strategies of the emirate. “The opening of Dubai AI Campus is part of the first phase of the annual Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), acting as a key enabler that will bolster Dubai’s position as a global hub accelerating the adoption of advanced technology,” he said.
Easy investor access
“Through Dubai and DIFC’s innovative structure, startups have direct access to investors, investment funds, major corporations and traditional financial institutions. This ensures that high-potential businesses receive the necessary funding needed to achieve their goals,” HE Essa Kazim added.
Catalyst for fintech ecosystem
Arif Amiri, CEO of the DIFC Authority, said: “Dubai AI Campus helps accelerate the objectives of DIFC’s 2030 Strategy, which aims to further empower our growing fintech and innovation ecosystem. “The cluster will also cement DIFC’s position as the largest incubator of the financial sector across the MEASA region as we look forward to collaborating with regional players to help them simplify and expand their business through AI,” he added.
Tech partnerships
The Dubai AI Campus facilitates multinational tech partnerships with leading tech companies such as Amazon Web Services, HP, Microsoft, Oracle and Nvidia, who will join the cluster as key partners, further highlighting its empowering nature and making it home to the first innovation lab offering AI solutions to the UAE’s small businesses, in collaboration with du. Additionally, the cluster will provide high computing capabilities, including DGX platforms, and state-of-the-art business accelerator programmes that advance implementation of AI applications in the private sector.
Unique licences
The Dubai AI Campus will be offering a unique AI licence specially designed to meet the requirements of the next generation of AI-dependent businesses. This licence utilises DIFC’s independent legal framework. Businesses within the cluster will also benefit from DIFC’s Digital Assets Law, the first of its kind globally, offering legal certainty to investors and users of digital assets.
Future tech showcase
Further testifying to its leadership and focus on leveraging technological advancements for the greater good, Dubai is set to host the premier Dubai AI and Web3 Festival, organised by Dubai AI Campus in collaboration with the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office, and DIFC, on 11 and 12 September 2024 at Madinat Jumeirah. The event, highlighting Dubai’s unwavering commitment to promote future technology, is expected to attract over 5,000 visitors and participants, besides more than 500 investors and 100 exhibitors. Since its launch in 2021, DIFC’s Innovation Hub continues to grow and forge milestone partnerships while driving innovation and helping shape forward-looking plans. It is now home to over 1,000 startups. As part of the Dubai Metaverse Strategy, the Innovation Hub launched the Metaverse Accelerator Program, which enrolled more than 150 students in its first cohort.
About the Dubai AI Campus
The largest dedicated cluster of AI companies in the region. The campus is built in line with Dubai’s vison of becoming the business destination of choice for all tech companies and will solidify its position as the torchbearer of innovationand technological integration across all sectors.
The campus champions innovation in the region through its AI Transformation programme which is a sector agnostic programme open to all businesses that would like to develop internal AI capabilities. Companies looking to establish their business at the Dubai AI Campus can avail of a 90 per cent subsidised commercial license.
The campus is built over 10,000sqft within the Innovation One premises at Dubai International Financial Centre (DIFC),the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The campus aims attract over USD300mn in capital and create more than 3000 jobs by 2028.
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