Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa, and South Asia (MEASA) region, will build the “Dubai AI & Web 3.0 Campus”, the largest cluster of Artificial Intelligence and tech companies in the MENA region.
The announcement comes in the implementation of the directives of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of DIFC.
With ambitious plans to expand into a dedicated campus spanning over 100,000 square feet in the next five years, the Campus located at the DIFC Innovation One premise will focus on the use of AI and Web 3.0 in the financial services industry.
The “Dubai AI & Web 3.0 Campus” will be home to visionary entrepreneurs, disruptors and engineers who possess a deep passion for emerging technologies. The Campus will provide world-class physical and digital infrastructure including R&D facilities, accelerator programs and collaborative workspaces, to attract, build and scale AI companies.
“DIFC’s 2030 strategy is central to shaping the future of finance and innovation. AI is expected to inject $28 billion into the UAE economy by 2035 and contribute 14 percent to the country’s GDP by the end of the decade. The Dubai AI & Web 3.0 Campus will significantly contribute to this growth as a global nexus for R&D, investment, and innovation by attracting over $300 million in collective funds, over 500 global AI and Web 3.0 startups, and creating over 3000 jobs by 2028.”
The “Dubai AI & Web 3.0 Campus” will act as a catalyst for growth, attracting global innovators, startups, and industry leaders to establish a vibrant ecosystem of AI-driven initiatives within the region. AI & Web 3.0 companies will also benefit from a sector-specific dedicated licensing and regulatory framework, in addition to leveraging DIFC’s unique soft infrastructure.
Mr. Arif Amiri, Chief Executive Officer, of DIFC Authority, stated that “At DIFC we believe that being at the forefront of tech innovation and AI advancement is imperative as we pave the way for a digitally empowered future of finance. The ‘Dubai AI & Web 3.0 Campus’ will act as a catalyst for growth by attracting global innovators, start-ups, venture capitalists, and industry leaders, as we establish MENA’s largest ecosystem for the AI and Web 3.0 sectors. By nurturing a collaborative environment, the Dubai AI & Web 3.0 Campus will accelerate the development of future-forward technologies and empower organizations to unlock the true potential of AI and Web 3.0.”
DIFC is spearheading the creation of a global ecosystem, the largest in the MENA region for AI and Web 3.0, by fostering cutting-edge technologies and attracting global talent. By seamlessly integrating physical and virtual infrastructures, the Dubai AI & Web 3.0 Campus is on track to emerge as the preferred headquarters for leading AI and Web 3.0 companies and venture capitalists operating in the region.