In a groundbreaking move, the Dubai AI and Web 3.0 Campus has unveiled its plans to roll out specialized licenses for artificial intelligence (AI) and Web3 ventures. This initiative will encompass a wide array of technological domains such as Distributed Ledger Technology Services, AI-driven research, and IT infrastructure development.
These pioneering licenses will be orchestrated and issued by the renowned Dubai International Financial Centre (DIFC), a beacon of financial leadership in the Middle East, Africa, and South Asia (MEASA) corridor. The DIFC has long been a nurturing ground for technological innovation, housing a thriving ecosystem of start-ups and tech pioneers at its DIFC Innovation Hub.
Situated within the ultramodern DIFC Innovation One premises, the Dubai AI and Web 3.0 Campus stands as a monument to AI and Web3 innovation. Equipped with avant-garde digital and physical infrastructure, including cutting-edge R&D amenities, accelerator programs, and collaborative hubs, the campus aims to be a magnet for regional and international firms.
This campus initiative aligns seamlessly with Dubai’s ambitious vision of establishing itself as the global nexus for AI and Web3 innovations. Such efforts have palpable economic implications. Forecasts by PwC suggest AI’s potential to infuse a staggering USD15.7 trillion into the global economy by the close of this decade. Furthermore, a McKinsey study projects AI to catalyze the creation of approximately 200,000 jobs in the Middle East by 2025.
In light of these projections, the Dubai AI and Web 3.0 Campus is primed to evolve into the MEASA region’s most significant hub for AI and Web3 entities, with an anticipated capital influx of over USD300 million and the potential generation of 3,000 jobs by 2028.
Virtual assets, powered by decentralized Web3 infrastructures, held a commanding 40% of the global virtual-asset economy in 2021, as per insights from BCG. With the transaction value of these assets projected to hover between USD150 billion and USD300 billion by 2025, the strategic importance of the Dubai AI and Web 3.0 Campus becomes even more evident.
Mohammad Alblooshi, the CEO of the DIFC Innovation Hub, expressed immense enthusiasm regarding this initiative, “The license roll-out from DIFC for AI and Web3 companies is a testament to our dedication to fostering a world-class environment for tech-driven growth. This is not merely an operational milestone for the Dubai AI and Web3 Campus; it symbolizes Dubai’s intent to be the go-to destination for tech entities globally.”
With such robust initiatives in play, the Dubai AI and Web 3.0 Campus is well on its way to redefining the contours of technological innovation in the region.