Recently, the Dubai International Financial Centre (DIFC) said it would construct the ‘Dubai AI & Web 3.0 Campus,’ the region’s largest concentration of artificial intelligence and technology enterprises.
The campus, which will be created under the direction of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the DIFC, is expected to grow to more than 100,000 square feet over the next five years. It will be located at DIFC Innovation One and focus on using AI and Web 3.0 in the financial services industry. The ‘Dubai AI & Web 3.0 Campus’ will house visionary entrepreneurs, disruptors, and engineers interested in emerging technologies. To attract, grow, and expand AI startups, the campus will feature world-class physical and digital infrastructure, including R&D facilities, accelerator programs, and collaborative workspaces.
“DIFC’s 2030 strategy is critical to shaping the future of finance and innovation,” stated Essa Kazim, Governor of DIFC. AI is predicted to pump Dh103 billion into the UAE economy by 2035, accounting for 14% of GDP by the decade’s end. By attracting over $300 million in collective funds, 500+ global AI and Web 3.0 startups, and creating 3000+ employment by 2028, the Dubai AI & Web 3.0 Campus will significantly contribute to this expansion as a worldwide center for R&D, investment, and innovation.”
DIFC’s 2030 plan focuses on advancing finance’s future through cutting-edge technology, innovation, and collaboration. DIFC’s Innovation Hub provides one of the area’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, purpose-built laws, innovative accelerator programs, and funding for growth-stage startups.FinTech & Innovation, the fastest growing sector in DIFC with 686 related enterprises, saw funds raised in the Centre totaling $615 million in 2022.
The ‘Dubai AI & Web 3.0 Campus’ will serve as a growth catalyst, drawing global innovators, startups, and industry leaders to create a flourishing ecosystem of AI-driven activities in the region. AI and Web 3.0 firms will also benefit from a sector-specific dedicated licensing and regulatory framework and the DIFC’s distinctive soft infrastructure.
“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,” said Arif Amiri, Chief Executive Officer of the DIFC Authority. The ‘Dubai AI & Web 3.0 Campus’ will serve as a growth catalyst by drawing global innovators, startups, venture capitalists, and industry leaders as we build the MENA region’s greatest ecosystem for the AI and Web 3.0 sectors. The Dubai AI & Web 3.0 Campus will speed the development of future-forward technologies and help organizations to realize the full potential of AI and Web 3.0 by cultivating a collaborative environment.”
The Dubai AI & Web 3.0 Campus is on track to become the chosen headquarters for leading AI and Web 3.0 firms and venture capitalists operating in the area by seamlessly integrating physical and virtual infrastructures.