As Dubai looks to cement its position as a global leader in the world of finance and AI, its new AI Campus cluster has already been inaugurated.
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, chairman of The Executive Council of Dubai and chairman of the Higher Committee for Future Technology and Digital Economy, officially inaugurated the Dubai AI Campus cluster at the Innovation Hub, Dubai International Financial Centre (DIFC) in May.
Announced in 2023, the Dubai AI Campus is the largest dedicated cluster of AI and advanced tech in the MENA region. The launch aims to support the objectives of the Dubai Economic Agenda (D33), including generating an average AED100 billion annually for Dubai’s economy through digital transformation.
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 illion to the Middle East’s economy by 2030, while making up 14 per cent of the UAE’s GDP by 2030.
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.
The move comes as part of the first phase of the annual Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), which was recently launched, aiming to accelerate AI adoption across all sectors, to create an ‘optimal’ ecosystem for AI businesses and talents to drive innovation in AI.
Dubai AI & Web3 Festival
The news comes shortly before the Dubai AI & Web3 Festival, set to take place on 11 and 12 September 2024, at the Madinat Jumeirah Hotel in Dubai. The event, which is held under the directive of the Crown Prince, is organised by the Dubai AI Campus in strategic partnership with DIFC and the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office.
Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai
“Our efforts continue to harness the huge potential of advanced technology,” Sheikh Mohammed bin Rashid explained. “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.
“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 the goals of the 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.”
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