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On the second and final day of the Dubai Artificial Intelligence and Web 3 Festival, the Dubai International Financial Centre announced the first-of-its-kind Dubai Artificial Intelligence Business License, which will help attract more companies to Dubai.
Under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense of the UAE Government, Chairman of the Dubai Executive Council, and Chairman of the Higher Committee for Future Technology and Digital Economy, the Dubai Artificial Intelligence and Web3 Festival concluded today. The festival was organized by Campus Dubai for Artificial Intelligence in strategic partnership with the Dubai International Financial Centre and the Office of the Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications.
Over two days, the festival brought together over 6,800 participants from over 100 countries to explore and expand the commercial potential of AI and Web 3 technologies.
Attendees included heads of state, government officials, academics, business leaders, and representatives from AI and Web3 companies, as more than 100 exhibitors showcased their latest emerging technologies during the festival.
In his opening remarks on the second day, Arif Amiri, CEO of the Dubai International Financial Centre Authority, said: “The Dubai International Financial Centre was established twenty years ago as a future-proofed destination that supports Dubai’s economic diversification efforts, based on world-class best practices and regulations.
Our culture of innovation is the foundation for building the largest ecosystem for finance, business and emerging technologies in the region. The Dubai AI Campus has already attracted over 120 companies, exceeding our first-year target of 75 companies.
By 2028, we expect to attract more than 500 companies, create more than 3,000 jobs, expand the Dubai AI Campus to more than 100,000 square feet, and attract investments worth $300 million.”
During his speech, Amiri announced the immediate launch of the first-of-its-kind Dubai Artificial Intelligence Business License, which will help attract more companies to Dubai.
This step comes after the success of the Dubai International Financial Centre’s “Innovation License” which contributed to attracting more than 1,100 companies to the centre.
DIFC also announced the launch of the “AI as a Service” concept, which will help companies assess AI readiness, identify opportunities, make recommendations, develop strategies, and contribute to the implementation of results.
During the festival, AI and Web 3 companies competed to win the first edition of the Future Technology World Cup, and the name of the winning company will be announced soon.
The finalists delivered outstanding presentations that demonstrated how their innovations could revolutionize business sectors and address pressing global challenges.
The agenda for the second day included extensive discussions on topics such as inclusion and diversity, decentralization of AI, building resilience to risks faced by suppliers when implementing AI in business, laws and regulations related to AI, and other topics including interoperability, predictive modeling, AI applications, data visualization, big data processing, data mining, organizations’ adaptation to the migration process to Web 3, governance related to generative AI, ethics, compliance, and others.
To further promote the adoption of AI and Web 3 technologies, Dubai AI Campus signed several agreements during the festival with Dubai Civil Defence, Holon, Kearney, Naya One, SIEF, Visa, Warba Bank, and Zurich Insurance.
The first edition of the Dubai Artificial Intelligence and Web 3 Festival was sponsored by 30 companies, and its list of founding and supporting partners includes the Dubai Chamber of Digital Economy, Holon, Al Fardan Exchange, and Hyper Fusion.
The second edition of the Dubai Artificial Intelligence and Web 3 Festival is set to take place in November next year. By 2027, the event is expected to become one of the largest global events in the field of artificial intelligence.
