During day two, DIFC announces Dubai AI Licence and AI As A Service solution
Under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, Chairman of The Executive Council of Dubai, and Chairman of the Higher Committee for Future Technology and Digital Economy, the Dubai AI & Web3 Festival 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, successfully concluded today.
The two-day Festival brought together more than 6,800 delegates from over 100 countries to explore and expand the commercial possibilities of AI and Web3 technologies. Attendees included government officials, heads of State, academics, business leaders from future focussed industries and representatives from AI and Web3 firms. More than 100 exhibitors showcased cutting-edge emerging technologies.
“20 years ago, a future-focused DIFC emerged as a pillar to support Dubai’s economic diversification efforts, armed with world-class regulations and best practices.
Arif Amiri, Chief Executive Officer of DIFC Authority
During the day two opening remarks, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “20 years ago, a future-focused DIFC emerged as a pillar to support Dubai’s economic diversification efforts, armed with world-class regulations and best practices. Our culture of innovation serves as the foundation for propelling the region’s biggest ecosystem for business, finance and emerging technologies. The Dubai AI Campus has already attracted over 120 firms, exceeding our first-year target of 75 companies. By 2028, we expect to bring in more than 500 companies, create over 3,000 jobs, expand the AI Campus to over 100,000 sq. ft and attract 300 million US dollars in investment.”
During his speech, Amiri announced the immediate launch of a first-of-its-kind Dubai AI Licence which will help attract more companies to Dubai, and follows the success of the DIFC Innovation licence, which has helped attract over 1,100 businesses to the Centre.
DIFC also announced the launch of the ‘AI as a Service’ concept which will help companies assess readiness for AI, identify opportunities, make recommendations, develop strategies and help implement the findings.
During the Festival, AI and Web3 companies have been competing to be crowned the winner of inaugural Future Tech World Cup. The champion will be announced imminently. During the grand finale, each finalist delivered a compelling pitch, demonstrating how their innovations could revolutionise industries and solve pressing global challenges.
Highlights of the second day included a deep dive into inclusion and diversity, decentralised intelligence, building risk resilience capacity in vendor management while implementing AI in business, laws and regulations surrounding AI, and themes including interoperability, predictive modelling, AI applications, data visualisation, big data processing, data mining, enterprise adaptation in web3 migration, governance with respect to Generative AI, ethics, compliance, and more.
To advance the adoption of AI and Web3 technologies, the Dubai AI Campus signed several agreements during the Festival, including with Dubai Civil Defence, Holon, Kearney, NayaOne, SIEF, Visa, Warba Bank and Zurich.
The inaugural edition of the Dubai AI & Web3 Festival was sponsored by 30 companies, with founding and powered by partners being Dubai Chamber of Digital Economy, Holon, Al Fardan Exchange, Holon and Hyperfusion.
The second edition is set to take place in November next year, and by 2027, the Dubai AI & Web3 Festival is set to become among the world’s biggest AI events.
