Dubai International Financial Centre (DIFC) has announced its plan to build the Dubai AI & Web 3.0 Campus, which will serve as the largest cluster of artificial intelligence (AI) and tech companies in the Middle East and North Africa (MENA) region.
The Dubai AI & Web 3.0 Campus will be set up on a 100,000ft² area at the DIFC Innovation One premises over the next five years.
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Serving as a catalyst for growth, the campus is expected to attract global innovators, start-ups and industry leaders to build an “ecosystem of AI-driven initiatives”.
Besides leveraging DIFC’s soft infrastructure, AI & Web 3.0 companies will stand to benefit from a sector-specific dedicated licensing and regulatory framework.
This campus will offer physical and digital infrastructure including R&D facilities, accelerator programmes and collaborative workspaces, to draw, build and scale AI companies.
DIFC governor Essa Kazim said: “DIFC’s 2030 strategy is central to shaping the future of finance and innovation. AI is expected to inject Dh103bn into the UAE economy by 2035 and contribute 14% to the country’s GDP by the end of the decade.
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By GlobalData“The Dubai AI & Web 3.0 Campus will therefore significantly contribute to this growth as a global nexus for R&D, investment and innovation, set to attract over $300m in collective funds, 500-plus global AI and Web 3.0 start-ups, and create 3,000-plus jobs by 2028.”
The 2030 strategy of DIFC is focused on propelling the future of finance via technology, innovation and partnerships.
In DIFC, fintech and innovation is the fastest-growing sector with 686 related companies having raised over $615m last year.
DIFC Authority CEO Arif Amiri said: “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 organisations to unlock the true potential of AI and Web 3.0.”
